Jyske Bank Interim Financial Report for the first nine months of 2015

Interview with Sven Blomberg

Summary

  • Core income: DKK 6,175m (Q1-Q3 2014: DKK 5,924m excl. of bargain purchases of DKK 2,360m
  • Pre-tax profit or loss: DKK 2,129m (Q1-Q3 2014: DKK 1,044m excl. of bargain purchases of DKK 2,360m).
  • The pre-tax profit corresponded to an annualised return of 10.3% on opening equity (Q1-Q3 2014: 6.0% p.a. excl. of bargain purchases).
  • Value adjustments under core profit: DKK 135m (Q1-Q3 2014: DKK 208m).
  • Loan impairment charges under core profit: DKK 381m (Q1-Q3 2014: DKK 1,236m).
  • Loans and advances: DKK 381bn (End-2014: DKK 362bn).
    • Mortgage loans: DKK 242bn (End-2014: DKK 219bn).
    • Traditional bank loans and advances: DKK 96bn (End-2014: DKK 102bn).
  • Bank deposits: DKK 125bn (End-2014: DKK 133bn).
  • Capital adjustment
    • The launch of a share buy-back programme in the equivalent value of up to DKK 500m.
    • It is the intention, at the Annual General Meeting in March 2016, to propose a motion for the distribution of ordinary dividend in the amount of about DKK 500m.
  • Capital ratio 16.9%, of which Common Equity Tier 1 capital ratio of 15.8% (end-2014: 16.4% and 15.3%).
    • Capital buffer: DKK 10.3bn (End-2014: DKK 9.7bn).
    • Target: capital ratio of 17.5% and Common Equity Tier 1 capital ratio of 14.0%.
  • Merger with BRFkredit proceeds faster than expected: Pre-tax profit, BRFkredit: DKK 617m