Jyske Bank's consolidated Interim Report - 1st quarter for 2012

Summary:

PRE-TAX PROFIT: DKK 502m (Q1 2011: DKK 200m).THE PRE-TAX PROFIT CORRESPONDED TO A RETURN OF 14.5% PA ON OPENING EQUITY (Q1 2011: 6.0% PA).

Interview with Anders Dam

  • Net interest and fee income under core earnings: DKK 1,556m (Q1 2011: DKK 1,394m).
  • Core earnings before loan impairment charges and provisions for guarantees: DKK 746m (Q1 2011: DKK 541m).
  • Loan impairment charges and provisions for guarantees, etc. under core earnings: DKK 398m
    (Q1 2011: DKK 244m).
  • Core earnings: DKK 348m (Q1 2011: DKK 297m).
  • Earnings from investment portfolios net of funding costs: DKK 192m (Q1 2011: DKK 72m).
  • Fair value of the "held-to-maturity portfolio" was DKK 133m higher than the carrying amount
    (end-2011: DKK 7m lower than the carrying amount).
  • Profit before contribution to the Guarantee Fund, etc.: DKK 540m (Q1 2011: DKK 369m).
  • Contribution to the Guarantee Fund, etc.: DKK 38m (Q1 2011: DKK 169m).
  • Balance of loan impairment charges and provisions for guarantees: DKK 3,973m (end-2011: DKK 3,871m).
  • Liquidity reserves: DKK 42bn (end-2011: DKK 38bn).
  • Solvency ratio: 16.5%; Core Tier 1 capital: 15.0%; and Core Tier 1 capital exclusive of hybrid core capital: 13.7%
    (end-2011: 14.7%, 13.3% and 12.1%, respectively).
  • Individual solvency requirement: 10.3% (end-2011: 10.0%).
  • Loan impairment charges and provisions for guarantees for 2012 are expected to be DKK 1.6bn to DKK 2.0bn following the introduction of the FSA’s new stricter rules on impairment charges and provisions for guarantees.