Q3 report: Negative interest rate environment puts pressure on Jyske Bank's earnings

October 30, 2019

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.