Jyske Bank Annual Report 2021

Summary

  • Earnings per share: DKK 42.4 (2020: DKK 19.8)
  • Core income: DKK 8,652m (2020: DKK 7,982m)
  • Core expenses: DKK 4,904m (2020: DKK 4,848m)
  • Loan impairment charges: DKK -218m (2020: DKK 968m)
  • Pre-tax profit: DKK 4,027m (2020: DKK 2,110m)
  • Net profit: DKK 3,176m (2020: DKK 1,609m)
  • Capital ratio: 22.8%, of which the common equity tier 1 capital ratio was 18.2% (end of 2020: 22.9% and 17.9%)
  • The number of outstanding shares at the end of 2021: 67.840 million (end of 2020: 72.553 million shares)
  • For 2022, the outlook for earnings per share is DKK 40-46. This corresponds to net profit of DKK 2.7 bn - 3.1 bn

“Jyske Bank's earnings per share of DKK 42.4 for 2021 is the highest level in the Jyske Bank’s history. The earnings reflect a significantly higher level of activity in the Danish economy and favourable financial markets. The effect of targeted initiatives such as depositrate and fee changes, increasing growth of bank loans, historically good credit quality as well as organisational adjustments also contributed to the results. Moreover, Jyske Bank's employees have demonstrated a high degree of flexibility. Jyske Bank is in a good position also to generate value for clients, employees and shareholders in the coming years, and the bank anticipates that for 2022 it will be able still to report a positive financial development with earnings per share of DKK 40-46. Jyske Bank's capital position is still very solid and form the basis of both consolidation and growth initiatives that are expected to affect Jyske Bank also in the years following 2022,” states Anders Dam, Managing Director and CEO.