Pre-tax profit of DKK 3.2bn


Silkeborg, 2016-01-25 08:21 CET (GLOBE NEWSWIRE) -- Pre-tax profit of DKK 3.2bn

 

Jyske Bank expects to report a pre-tax profit of DKK 3,204m for the year 2015 and a pre-tax profit of DKK 1,075m for the fourth quarter of 2015. It is expected that the net profit for the year will amount to DKK 2,476m.

 

Due to the low interest-rate level and the large savings surplus in the private sector in Denmark, Jyske Bank has so far assessed that for 2015 it would be a challenge to achieve a return on opening equity of at least 10% before tax.

 

The profit for the year before tax corresponds to a return on opening equity of 11.6%. Hence, for the second year in a row after the merger with BRFkredit, the profit meets the new Jyske Bank Group's long-term target of a return on opening equity of at least 10% before tax.

 

After recognition of the net profit for the year, it is expected that the Common Equity Tier 1 capital ratio and the capital ratio will amount to 16.2% and 17.1%, respectively, as at 31 December 2015 against 15.8% and 16.9%, respectively, as at 30 September 2015.

 

Jyske Bank will publish its Annual Report for 2015 on Tuesday, 23 February 2016.

 

Please direct any questions relating to this announcement to Anders Dam, CEO and Managing Director, (+45 89 89 20 01) and Birger K. Nielsen, CFO, (+45 89 89 64 44).

 

 

Yours faithfully,

 

 

 

Sven Buhrkall                                            Anders Dam                       

Chairman                                                  Managing Director and CEO


Attachments

Pre-tax profit UK.pdf