The BANK of Greenland’s report for the first half of 2025

Result for the first half of 2025

The BANK of Greenland’s profit before tax amounts to DKK 84.4 for the first half of 2025, compared to DKK 120.1 million for the first half of 2024. The profit before tax gives a return of 11.6 % p.a. on opening equity after disbursement of dividend.

The profit before value adjustments and write-downs is, as expected, affected by the declining levels of interest rates, and amounted to DKK 94.7 million compared to DKK 127.5 million for the previous year.

Lending has increased by DKK 138 million since the end of 2024, amounting to DKK 5.169 million at the end of the first half-year. It was expected that Greenland's economic development would result in positive, but more subdued growth in the Bank’s lending in 2025. Guarantees decreased by DKK 1 million from DKK 1.423 million at the end of 2024 to DKK 1.422 million at the end of the first half of 2025.

Total expenses including depreciation amounted to DKK 128.4 million at the end of the first half of 2025, compared to DKK 117.5 million for the same period of 2024.

At the end of the first half of 2025, value adjustments show a capital gain of DKK 4.3 million, compared to a capital gain of DKK 3.9 million for the same period of 2024. 

Impairments of loans and guarantees amounted to DKK 14.5 million in the first half of 2025, compared to DKK 11.2 million in the first half of 2025. For the period, write-downs and provisions was 0.2 % of the BANK’s total lending and guarantees.

Solvency ratio was of 25.5 and the capital requirement of 10.5 %.

In the stock exchange announcement of 11 December 2024, the forecast profit before tax for 2025 was stated as a range of DKK 150-185 million, which remains unchanged.

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