Jyske Bank had no problems in passing the EU stress test.

• Jyske Bank’s Core Tier 1 capital ratio was 12.5% or more throughout the stress-test period.
 

Jyske Bank’s overall results of the EU stress test appear from the table below: 

* Core Tier 1 capital ratio is exclusive of hybrid Core capital.

Jyske Bank has taken part in the EU wide stress test coordinated by the European Banking Authority (EBA). The stress test, which is carried out across 90 banks, seeks to assess the resilience of European banks to severe shocks and their specific solvency to hypothetical stress events under certain restrictive conditions in 2011 and 2012.

Jyske Bank recognizes the result of the stress test, which is based on preconditions specified by the EBA. The adverse economic scenario is not a projection of expected results but a reflection of assumptions that are not expected to be realised.

Under the adverse economic scenario, the Core Tier 1 capital ratio will rise to 12.8% at end-2012 against 12.1% at end-2010.

For analysis purposes, the EU wide stress test applies a minimum criterion stipulating a Core Tier 1 capital ratio of 5.0% , which in respect of Jyske Bank equals a Core Tier 1 capital amounting to DKK 5.6bn. At end-2012, Jyske Bank’s Core Tier 1 capital will amount to DKK 14.2bn under the most adverse economic scenario, equalling a surplus Core Tier 1 capital of DKK 8.6bn compared to the minimum criterion.

Anders Dam, Managing Director and CEO:

"The EU stress test only confirms the solid capital position and structure of Jyske Bank. For both 2011 and 2012, the calculated levels are fully satisfactory in respect of the business strategy and the authorities’ requirements.

The stress test and the various scenarios do not make allowance for current or future business strategies and management actions, and hence they do not constitute a forecast of Jyske Bank’s current or expected financial development,” concludes Anders Dam.