Jyske Bank's Interim financial report - 1st quarter 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 369M (Q1 2010: DKK 301M).

Interview with Anders Dam

  • Contribution to Bank Package I and the Guarantee Fund: DKK 169m (Q1 2010: DKK 122m).
  • Profit before tax: DKK 200m (Q1 2010: DKK 179m).
  • Net interest and fee income under core earnings: DKK 1,394m (Q1 2010: DKK 1,386m)
  • Loan impairment charges and provisions for guarantees under core earnings: DKK 244m (Q1 2010: DKK 598m).
  • Core earnings: DKK 297m (Q1 2010: DKK 94m).
  • Earnings from investment portfolios net of funding costs: DKK 72m (Q1 2010: DKK 207m).
  • Balance of loan impairment charges and provisions: DKK 3,785m (end-2010: DKK 4,408m).
  • Solvency ratio 16.2%, Tier-1 capital 14.4% and core capital exclusive of hybrid core capital 12.8% (end-2010: 15.8%, 14.1% and 12.5%, respectively).
  • Jyske Bank is considering making an offer to buy Amagerbanken af 2011 A/S or portion thereof.