Interim Financial Report Q1 2026
In connection with the publication of Jyske Bank’s Interim Financial Report Q1 2026, Lars Mørch, CEO and Member of the Executive Board states:
“Jyske Bank delivered a solid result in the first quarter of 2026 despite challenging financial markets. Performance was underpinned by a robust underlying business, with high activity, disciplined cost management and strong credit quality, while maintaining a clear focus on customers, relationships and strategy execution.
Earnings per share amounted to DKK 17 in the first quarter of 2026. Underlying performance continued to show good progress, driven by healthy activity levels, continued growth in business volumes and disciplined cost management.
The Danish economy remains fundamentally strong, although growth is moderating due to a global slowdown and geopolitical uncertainty. Inflation is expected to be temporarily lifted by higher energy prices. Our customers’ financial situation is generally robust, and we are in a good position to help.
Strategic momentum and strengthened market position
Jyske Bank made a good start to 2026, continuing to strengthen its market position with healthy momentum in business activities, and translating the Group strategy “Potential for more” into tangible results.
Efforts in the first quarter focused on deepening customer relationships, further developing the brand through marketing initiatives to increase visibility and relevance in a competitive market, providing a strong foundation for the remainder of 2026.
In addition, further steps have been taken in the development of the customer‑centric organisation by adjusting the allocation of responsibilities between the business areas, thereby ensuring stronger cross‑functional coherence across value chains and customer journeys.
Lower prices for customers
Competition in the housing market remained fierce in the first quarter, with continued price focus among major players. In this environment, Jyske Bank maintained a strong pricing position and focused on delivering high overall customer value through competitive terms and transparency in housing finance. Strong rankings in independent tests confirm Jyske Bank’s position as an attractive partner for homebuyers.
AI foundation in place
Over recent years, Jyske Bank has established a solid foundation for the use of artificial intelligence. In 2026, the focus is on scaling solutions that have already demonstrated value. AI is increasingly applied to enhance productivity and quality across advisory services, customer dialogue and internal processes, supported by strong governance, data foundations and a secure, scalable technology platform.
Customer satisfaction
Customers and customer experience remain a core strategic focus. In the first quarter, Jyske Bank continued to strengthen relationships with both personal and business customers and to deliver high‑quality advisory services. Customer satisfaction is a key focus area in Jyske Bank’s strategy and constitutes an important foundation for long‑term business development.
EPS of DKK 17 in Q1 2026
Earnings per share decreased to DKK 17 in Q1 2026 from DKK 19 in the same period of 2025. Reported results were affected by volatile financial markets amid elevated geopolitical uncertainty as well as lower short-term interest rates. Underlying performance continued to demonstrate solid business momentum, healthy activity levels, disciplined cost management and strong credit quality.
Core income declined year‑on‑year, primarily reflecting a negative development in financial markets that impacted value adjustments. Net interest income decreased due to declining short‑term interest rates. These effects were partly offset by healthy underlying volume growth and an increase in net fee and commission income, supported by higher income from asset management as well as pension and insurance activities.
Core expenses were close to unchanged at DKK 1,535m in Q1 2026 compared to DKK 1,533m. Collectively prescribed sector-wide salary adjustments and inflation were offset by a lower number of employees and stringent cost management.
Loan impairment charges remained at a low level of DKK 29m. Continued strong underlying credit quality supported significant reversals of individual loan impairment charges, while post‑model adjustments were increased DKK 136m to DKK 1.8bn in response to elevated geopolitical uncertainty.
The capital position remained robust. At the end of Q1 2026, the common equity tier 1 capital ratio amounted to 15.6%, while the total capital ratio amounted to 20.9%, providing a solid buffer above regulatory requirements.”
Webcast and conference call
Jyske Bank will host a conference call in English targeting investors and analysts today at 2.00 p.m. CET (link). Conference call and presentation will be available via jyskebank.com/investorrelations.
Yours faithfully,
Jyske Bank
Contact:
Lars Mørch, CEO and Member of the Executive Board, tel. +45 89 89 20 01
Birger Krøgh Nielsen, CFO, tel. +45 25 26 92 42
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