Jyske Bank reports a loss of DKK 780m for the first quarter

May 05, 2020

The corona crisis and turbulence in the financial markets affect Jyske Bank severely in the first quarter of 2020. Therefore the bank reports a loss of DKK 780m after tax.

As stated by Jyske Bank already at the end of March, the bank recognises impairment charges in the amount of DKK 1 bn as a management's estimate relating to the financial consequences of the corona outbreak.

 Also, the financial turbulence is reflected in Jyske Bank's value adjustments and investment portfolio earnings in the first quarter. These items result in an adverse effect amounting to more than DKK 500m.

 Jyske Bank anticipates a net profit for the full year 2020 in the range of DKK 0 - 1.5 bn. In its report, the bank states that these expectations are subject to great uncertainty.