Jyske Bank Interim Financial Report Q1 2021

Interview with Anders Dam, CEO

Summary

  • Earnings per share of DKK 11.6 (Q1 2020: DKK -11.1)
  • Jyske Bank expects earnings per share of DKK 31-35 in 2021
  • Core income of DKK 2,235m (Q1 2020: DKK 1,803m)
  • Core expenses of DKK 1,171m (Q1 2020: DKK 1,346m)
  • Loan impairment charges of DKK 10m (Q1 2020: DKK 1,003m)
  • Pre-tax profit of DKK 1,128m, corresponding to a pre-tax return on equity of 12.9% p.a. (Q1 2020: DKK -996m and -10.3% p.a.)
  • Net profit of DKK 883m, corresponding to a return on equity of 10.0% p.a. (Q1 2020: DKK -780m and -10.3% p.a.)
  • Capital ratio of 23.2% (Q1 2020: 21.5%), hereof common equity tier 1 capital (CET1) ratio of 18.0% (Q1 2020: 16.7%)
  • Jyske Bank expects a pre-tax profit of DKK 3.0bn-3.4bn and a net profit of DKK 2.3bn-2.7bn in 2021
  • Effective 11 June 2021, Jyske Bank changes the variable interest rate on corporate clients’ demand deposits to -0.95% p.a. from -0.75% p.a.