Jyske Bank Interim Financial Report - First quarter of 2015

Interview with Anders Dam

Summary

  • Core income DKK 1,978m (Q1 2014: DKK 1,729m).
  • Pre-tax profit: DKK 502m (Q1 2014: DKK 418m).
  • Post-tax profit: DKK 393m (Q1 2014: DKK 341m).
  • Pre-tax profit corresponded to an annualised return of 7.3% on opening equity (Q1 2014: 9.6% p.a.).
  • Value adjustments under core profit: DKK -150m (Q1 2014: DKK 183m).
    o Of which relating to clients' interest-rate hedging: DKK -299m (Q1 2014: DKK -128m).
  • Loan impairment charges under core profit: DKK 327m (Q1 2014: DKK 249m).
    o Loan losses, etc.: DKK 253m (Q1 2014: DKK 281m).
  • Loans and advances: DKK 376bn (End-2014: DKK 362bn).
    o Mortgage loans: DKK 229bn (End-2014: DKK 219bn).
    o Bank loans and advances: DKK 119bn (End-2014: DKK 120bn).
  • Bank deposits: DKK 132bn (End-2014: DKK 133bn).
  • Capital ratio 16.3%, of which Common Equity Tier 1 capital ratio of 15.3% (end-2014: 16.4% and 15.3%).
  • Individual solvency requirement: 10.7% (end-2014: 10,9%).
  • Pre-tax profit, BRFkredit: DKK 241m (Q1 2014: DKK -837m).
  • Integration costs due to the merger are expected to be in the range of DKK 150-200m against the
    previous estimate of DKK 300-400m.