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Earnings per share rose 53% to DKK 37.5 (H1 2022: DKK 24.5)Net interest income rose 74% to DKK 4,639m (H1 2022: DKK 2,671m)Core income increased 57% to DKK 6,573m (H1 2022: DKK 4,197m)Core expenses rose 27% to DKK 2,974m (H1 2022: DKK 2,344m)Core profit before loan impairment charges increased 94% to DKK 3,599m (H1 2022: DKK 1,853m)Loan impairment charges amounted to an expense of DKK 109m (H1 2022: an income of DKK 247m)The net profit was up 47% to DKK 2,488m (H1 2022: DKK 1,691m)Capital ratio at 20.3%, of this common equity tier 1 capital ratio at 16.1% (H1 2022: 22.2% and 17.9%, respectively)For 2023, earnings per share is expected at DKK 70-80The integration of Handelsbanken Denmark is proceeding according to planThe acquisition of PFA Bank A/S is expected to close during the coming months.Read the Financial Report

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The corona crisis and turbulence in the financial markets affect Jyske Bank severely in the first quarter of 2020. Therefore the bank reports a loss of DKK 780m after tax. As stated by Jyske Bank already at the end of March, the bank recognises impairment charges in the amount of DKK 1 bn as a management's estimate relating to the financial consequences of the corona outbreak.  Also, the financial turbulence is reflected in Jyske Bank's value adjustments and investment portfolio earnings in the first quarter. These items result in an adverse effect amounting to more than DKK 500m.  Jyske Bank anticipates a net profit for the full year 2020 in the range of DKK 0 - 1.5 bn. In its report, the bank states that these expectations are subject to great uncertainty.

As it is expected that the negative interest-rate level will continue for several years, Jyske Bank finds it necessary - as from 1 May 2020 - to set a DKK 250,000 exemption limit for negative interest on personal clients’ credit balances. This was announced by Jyske Bank at the publication of its 2019 Financial Statements.“The reason is the combination of the continued low interest-rate level and the higher deposits with the bank. The market anticipates negative interest rates for the next eight or nine years, and therefore Jyske Bank cannot continue offering an interest rate of zero percent. Even with the new exemption limit at DKK 250,000 for negative interest, Jyske Bank is still losing money on deposits. Fortunately, we have gained some experience offering our clients alternatives to negative interest rates, so if you are affected by the lower exemption limit, we recommend that you consult your account manager,” says Anders Dam, CEO and Managing Director of Jyske Bank.The consequence of the new exemption limit is that you may have a credit balance of DKK 250,000 on your NemKonto "Easy Account" without having to pay negative interest.On other accounts, negative interest is payable on all deposits. Deposit accounts for children and 'børneopsparing' (child savings accounts) are, however, subject to an exemption limit of DKK 100,000.Jyske Bank’s 2019 financial statements revealed - as indicated in an update in January - a profit above DKK 2.4 bn. For 2020, Jyske Bank forecasts a profit in the range of DKK 1.8 bn - 2.2 bn.