Denmark · Delayed Price · Currency is DKK Jyske Bank Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw strong underlying performance with EPS of DKK 17 and net profit of DKK 1,049 million, supported by robust credit quality and disciplined cost management. Guidance for 2026 is unchanged, with continued focus on AI and capital strength.
Fiscal Year 2025
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2025 results exceeded guidance with 18% EPS growth in Q4, strong capital, and record DKK 4.5B capital distribution. 2026 outlook remains positive, with stable credit quality, cost initiatives, and continued market share gains in mortgages.
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Q3 delivered record EPS and strong net profit, prompting an upgraded 2025 outlook. Cost control, stable credit quality, and rising AUM supported results, while capital ratios remained robust. Danish economic conditions and sector competition remain stable.
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Q2 2025 saw robust earnings, record customer satisfaction, and strong capital, with net profit up 2% and CET1 at 16.3%. Guidance was raised to the upper end of the outlook, though NII faces pressure from low rates and margin mitigation options are nearly exhausted.
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EPS grew 2% year-over-year in Q1 2025, with fee income up 20% and costs down 3%. CET1 ratio stands at 15.7% post-Basel IV, and credit quality remains strong despite higher macroeconomic uncertainty. Customer satisfaction and mortgage lending momentum continue to improve.
Fiscal Year 2024
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Delivered record-high net fee income and reached the top of profit guidance for 2024, supported by strong AUM growth and resilient credit quality. Announced a historic DKK 3.8 billion capital return, with 2025 guidance reflecting macro and rate uncertainties.
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Q3 saw strong profitability with upgraded 2024 net profit guidance and robust capital ratios. Strategic focus is on cost efficiency, digital investments, and leveraging new regulatory opportunities, with 2028 targets for double-digit returns and a cost-to-income ratio below 50%.
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Q2 2024 net profit rose 12% year-over-year to DKK 1.3 billion, with strong AUM growth and stable asset quality. The bank targets the upper half of its annual profit guidance, expects modest cost increases, and faces margin pressure from deposit migration and lower rates.