CEO Anders Dam: Agricultural clients only drawback in satisfactory Q1

April 28, 2016
For the first quarter of 2016, Jyske Bank realised a pre-tax profit of DKK 478m. Anders Dam, CEO and Managing Director, is satisfied with the results, but notes that the agricultural crisis is still a major challenge to the Bank.

Loan impairment charges amounted to DKK 172m in the first quarter, and it is still the agricultural clients which are affecting this item.

Exclusive of agricultural clients, Jyske Bank could have reversed impairment charges of DKK 56m for the period.

The profit for the first quarter was also adversely affected by unrealised investment losses of DKK 130m on the Bank's shares in Nordjyske Bank.

Download the full Interim Financial Report