Jyske Bank's Interim financial report - 1st half of 2011

Summary:

PROFIT BEFORE TAX AS WELL AS CONTRIBUTION TO BANK PACKAGE I AND THE GUARANTEE FUND FOR DEPOSITORS AND INVESTORS (THE GUARANTEE FUND): DKK 574M (H1 2010: DKK 625M)

Interview with Anders Dam

Jyske Bank Interim Report - in detail

  • Contribution to Bank Package I and the Guarantee Fund, etc.: DKK 256m (H1 2010: DKK 227m)
  • Pre-tax profit: DKK 318m (H1 2010: DKK 398m)
  • Net interest and fee income under core earnings: DKK 2,766m (H1 2010: DKK 2,749m)
  • In the second quarter, early repayment of subordinated loan capital resulted in a negative value adjustment of DKK 52m, and it offered future interest savings of DKK 65m
  • Loan impairment charges and provisions for guarantees under core earnings: DKK 614m (H1 2010: DKK 984m)
  • Core earnings: DKK 407m (H1 2010: DKK 346m)
  • Investment portfolio earnings net of funding costs: DKK 167m (H1 2010: DKK 279m)
  • Balance of loan impairment charges and provisions for guarantees: DKK 3,801m (end-2010: DKK 4,408m).
  • Solvency ratio: 16.0%; Tier 1 capital: 14.5%; and Core Tier 1 capital exclusive of hybrid core capital: 12.8% (end-2010: 15.8%, 14.1% and 12.5%)