Jyske Bank's Interim Report - 1st quarter 2010

Summary:

PROFIT BEFORE TAX AND CONTRIBUTION TO THE DANISH PRIVATE CONTINGENCY ASSOCIATION (DPCA) AND THE DEPOSIT PROTECTION SCHEME: DKK 300M.

Interview with Anders Dam

  • Contribution to DPCA and the deposit protection scheme: DKK 122m (Q1 2009: DKK 94m).
  • Pre-tax profit: DKK 178m (Q1 2009: a loss of DKK 67m).
  • Core earnings before loan impairment charges and provisions for guarantees: DKK 691m (Q1 2009: DKK 659m).
  • Loan impairment charges and provisions for guarantees under core earnings: DKK 598m (Q1 2009: DKK 649m).
  • Actual losses on loans and advances: DKK 98m (Q1 2009: DKK 269m).
  • Balance of loan impairment charges: DKK 3,940m (Q1 2009: DKK 1,957m).
  • Earnings from investment portfolios: DKK 207m (Q1 2009: DKK 17m).
  • The fair value of the 'held-to-maturity' portfolio exceeded the carrying amount by DKK 130m.
  • Solvency ratio 14.7%, of this Tier-1 capital: 12.9% (Q1 2009: 12.9% and 11.2%).
  • The liquidity reserve amounted to just over DKK 53bn (Q1 2009: DKK 43bn).
  • Our forecast of core earnings before loan impairment charges and provisions for guarantees is
    DKK 2.5bn-2.9bn.