Jyske Bank: Disappointing fourth quarter, yet historic results
Due to the falling interest-rate level, Jyske Banksomewhat surprisingly reported a pre-tax loss of DKK 300m for the fourthquarter.
Among other things, large impairment charges onagricultural clients affect the bank severely. Jyske Bank's impairment chargesfor the last quarter of the year totalled more than DKK 700m.
Also, the still falling interest-rate level had anegative effect as reflected in the report for the fourth quarter.
However, the profit of DKK 3.1bn for the full year ishistorically high and more than DKK 800m higher than the profit for 2013.
In line with previous years, Jyske Bank does notdistribute dividend to its shareholders.
Interview with Anders Dam, Managing Director and CEO.
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