Pre-tax profit or loss: DKK 1,803m (H1 2014: DKK 443m,

· Core income: DKK 4,472m (H1 2014: DKK 3,712m, excl. of bargain purchases of DKK 2,360m).

· Pre-tax profit or loss: DKK 1,803m (H1 2014: DKK 443m, excl. of bargain purchases of DKK 2,360m).

· The pre-tax profit corresponded to an annualised return of 13.1% on opening equity (H1 2014: 5.1% excl. of bargain purchases).

· Value adjustments under core profit: DKK 386m (H1 2014: DKK 76m).

· Loan impairment charges under core profit: DKK 351m (H1 2014: DKK 838m).

o Of which management's estimate amounts to DKK 270m (H1 2014: DKK 0m).

· Loans and advances: DKK 375bn (End-2014: DKK 362bn).

o Mortgage loans: DKK 234bn (End-2014: DKK 219bn).
o Bank loans and advances: DKK 114bn (End-2014: DKK 120bn).

· Bank deposits: DKK 129bn (End-2014: DKK 133bn).

· Capital ratio 17.1%, of which Common Equity Tier 1 capital ratio of 16.1% (End-2014: 16.4% and 15.3%).

o Capital buffer: DKK 10.3bn (End-2014: DKK 9.7bn).
o Target: capital ratio of 17.5% and Common Equity Tier 1 capital ratio of 14.0%.

· Merger with BRFkredit:

o   Pre-tax profit or loss, BRFkredit: DKK 362m (H1 2014: DKK 53m).
o   All cost and earnings synergies are expected to show full annual effects in mid-2018, while earlier estimates pointed to end-2018.
o   Expected integration costs in the range of DKK 100-150m (previous estimate: DKK 150-200m).

In connection with the publication of the interim financial report for the first half of 2015, Anders Dam, Managing Director and CEO states:

'Thanks to the pre-tax profit of DKK 1,803m, the Jyske Bank Group reports a profit for the first half of 2015 that is definitely better than our expectations.

We are still seeing progress in respect of the new home loans, and as at 30 June, home loans have been granted in the amount of DKK 47bn and as at today DKK 50bn. In respect of the merger with BRFkredit, we are, on the whole, ahead of plans, and in the second quarter, the IT systems of BRFkredit Bank were converted to Jyske Bank. Core expenses are falling quarter by quarter, thus reflecting the organisational adjustments, which, among other things, has resulted in a reduction of 332 employees since 30 April 2014.

As a consequence of the generally improved economic trends, impairment charges under core profit fell to DKK 351m, in which a management's estimate of DKK 270m is included due to rising interest rates and the extended ban on imports of Danish goods to Russia, which in particular affects agriculture.

The profit for the period corresponds to a return on opening equity of 13.1% p.a., and the Common Equity Tier 1 capital ratio increases to 16.1, which development goes to show the strength of the Group's capital base and puts the Group in a favourable position in respect of growth, requirements on the part of Standard & Poor's, new statutory requirements as well as potential acquisitions, share buybacks or dividend payments', concludes Anders Dam.

Pre-tax profit or loss: DKK 1,803m (H1 2014: DKK 443m, excl. of bargain purchases of DKK 2,360m).

Attachments