Silkeborg, 2017-08-22 08:17 CEST (GLOBE NEWSWIRE) --
SUMMARY
Pre-tax profit: DKK 2,067m (H1 2016: DKK 1,502m) corresponding to a return of 13.1% p.a. on opening
equity (H1 2016: 10.0% p.a.)
Post-tax profit: DKK 1,615m (H1 2016: DKK 1,193m) corresponding to a return of 10.2% p.a. on opening
equity (H1 2016: 7.9% p.a.)
Core profit: DKK 1,610m (H1 2016: DKK 1,559m)
Underlying core expenses increased by 1.7%
Reversal of loan impairment charges and provisions for guarantees under core profit: DKK 120m (H1
2016: impairment charge of DKK 67m were recognised as an expense)
Capital ratio: 19.4%, of which the Common Equity Tier 1 capital ratio was 16.5% (end of 2016: 18.3% and
16.5%)
The current share buy-back programme is increased by DKK 1,000m and is at the same time extended
until 28 March 2018 from previously 29 September 2017
COMMENTS BY MANAGEMENT
In connection with the publication of the interim financial report for the first half of 2017, Anders Dam, CEO and
Managing Director states:
"The net profit for the period came to DKK 1,615m after tax, corresponding to a return on equity of 10.2% in the first half
of 2017 in line with the target of 8-12%, which is considered satisfactory given the low interest-rate level as well as a
reduction of the bond portfolio by about DKK 15bn since the end of 2016.
Since 2011, Jyske Bank has taken part in the consolidation of the Danish banking and mortgage credit sector, which is
very evident in the Group's market share and socio-economic importance among banks and mortgage credit institutions
subject to supervision by the Danish Financial Supervisory Authority.
Both new and existing clients express great interest in the Group's products. Due to the inflow of new bank mortgage
loans, currently at DKK 90.3bn, over merely 3½ years, it is still possible to attain a level of DKK 100bn in the course of the
first half of 2018. Also, considerable interest is expressed in regular mortgage products for personal as well as corporate purposes.
Also within private banking, capital markets and leasing, clients are expressing great interest.
Due to the solid growth, the satisfactory earnings as well as the gradual adjustment of the capital structure, the
Supervisory Board has decided to raise the existing share buy-back programme by DKK 1bn until 28 March 2018", ends
Anders Dam.
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