Jyske Bank’s Q1 report: Significant bottom line effect from new impairment rules

May 09, 2018

Anders Dam, CEO and Managing Director, comments on Jyske Bank’s Q1 financial statements, which showed a net profit of DKK 610m.

However, the net profit for the period was adversely affected by about DKK 400m due to the implementation of new international impairment rules - the so-called IFRS 9 (International Financial Reporting Standard).

At the same time as the release of the financial statements, Jyske Bank announced that it supports a merger of Nordjyske Bank and Ringkjøbing Landbobank.

Jyske Bank will sell its shareholding in the proposed merged bank to Nykredit.

See the full financial report here.