Q3 report: Negative interest rate environment puts pressure on Jyske Bank's earnings
In the third quarter,
Jyske Bank generated a post-tax profit of DKK 365m, and therefore the bank has
over the first nine months of the year generated a profit of almost DKK 1.5
bn.
The profit for the third quarter was
disappointing compared with analyst expectations of a profit of about DKK 500m.
Anders Dam, CEO and Managing Director, states
the negative interest rate environment as the main reason why earnings are
under pressure.
In connection with the presentation of its Q3 report, Jyske Bank states that
the profit for the year is now expected at about DKK 2 bn. This is to be seen
in the light of the previous announcements of an expected profit in the range
of DKK 2 bn - 3.3 bn.
Finally, the bank also states that the existing share buy-back programme in the
amount of DKK 500m will be raised to DKK 1 bn, and, in consequence of this, its
Supervisory Board will to the Annual General Meeting submit for adoption a
proposal that no ordinary dividend be distributed for the financial year 2019.
Download
the full financial report.
