Interim Financial Report, Q1 2025

• Earnings per share DKK 19.4 (Q1 2024: DKK 19.0)
• Core income DKK 3,229m (Q1 2024: DKK 3,430m)
• Core expenses DKK 1,533m (Q1 2024: DKK 1,557m)
• Loan impairment charges: DKK 66m (Q1 2024: DKK 82m)
• Post-model adjustments relating to loan impairment charges was up to DKK 1,869m (end of 2024: DKK 1,782m).
• Capital ratio at 20.9%, of which common equity tier 1 capital ratio of 15.7% (Q1 2024: 22.0% and 16.6%, respectively)

Summary

”Jyske Bank has got off to a good start to the year with continued progress. In addition, we have boosted customer satisfaction, among personal as well as corporate customers, over the past year. We are in a strong financial position and well-equipped to support our customers,” says Lars Mørch, CEO and Member of the Group Executive Board.

In Q1 2025, earnings per share rose by 2% compared with the year before despite the impact from considerably lower short-term interest rates. The business volumes showed sustained increase with increased momentum in the personal customer area.

The Danish economy continues to show high employment and a slightly increasing level of activity. The future development of the economy is affected by higher geopolitical uncertainty and the ongoing trade war.

Strategic progress
Jyske Bank’s strategy builds on the Group's strengths and aims to pave the way for a strong future market position. The strategy involves tight operations combined with higher investments in selected customer segments and ensuring a solid, secure and attractive platform.

We have clear-cut targets for stronger customer focus, and it is our ambition to help customers in their sustainable transition and to use digitisation proactively to the benefit of customers and to raise efficiency in the Group.

In the first quarter of 2025, we further enhanced the customer experience by making all relevant information about meetings with Jyske Bank available at the online and mobile banking platforms.  We introduced AI assistants and made artificial intelligence accessible to all employees.

Corporate customers have also gained new opportunities at online banking through modules for financial and risk management, which can help them make informed decisions and effectively manage their risks. We also held business-oriented webinars focusing on the future of construction and climate accounts.

Rising customer satisfaction
Jyske Bank’s customer satisfaction surged over the past twelve months. Personal customer satisfaction shows one of the largest increases among Danish banks and is higher than that of comparable financial institutions. Jyske Bank has the most satisfied private banking customers in the country, and in addition, satisfaction among corporate customers is on the rise. This is the result of targeted efforts where we have to an even higher extent held meetings with our customers.