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Highlights

  • Jyske Bank's earnings per share rose 1% year-on-year to DKK 39.4 in H1 2025.

  • Jyske Bank has specified its full-year 2025 net profit expectation at the upper end of DKK 3.8bn–4.6bn.

  • Loan impairment charges showed an income of DKK 47m, compared with an expense of DKK 95m in H1 2024.

Jyske Bank A/S (CPH:JYSK) has released its interim financial report for the first half of 2025, confirming growth in earnings per share and providing updated profit guidance for the full year. The Group now expects its net profit for 2025 at the upper end of DKK 3.8 billion–4.6 billion, equivalent to earnings per share in the DKK 60–73 range.

In H1 2025, Jyske Bank’s earnings per share increased to DKK 39.4 from DKK 38.8 in H1 2024, representing a 1% rise despite the impact of considerably lower short-term interest rates. The result was supported by higher customer activity levels and maintained credit quality.

Financial Performance

Core income amounted to DKK 6,503 million in H1 2025, compared with DKK 6,828 million in the prior year period. The 5% decline primarily reflected lower net interest income, following Danmarks Nationalbank’s reduction of its policy rate to an average of 2.1% in H1 2025 from 3.6% in H1 2024. However, net fee and commission income rose 14%, driven by growth in assets under management and higher activity in investment products.

Core expenses were reported at DKK 3,195 million versus DKK 3,160 million in H1 2024. The increase was influenced by the relocation of offices in Copenhagen, while underlying expenses excluding one-off costs declined by 1% due to fewer employees and lower contributions to the Resolution Fund.

Loan impairment charges showed an income of DKK 47 million in H1 2025, compared with an expense of DKK 95 million a year earlier. The bank reported that reversals reflected continued credit quality. Management’s estimate for loan impairment charges stood at DKK 1,877 million at the end of June 2025, compared with DKK 1,782 million at the end of 2024.

Jyske Bank’s capital ratios remained within targeted ranges after the implementation of Basel IV requirements. At the end of H1 2025, the common equity tier 1 capital ratio was 16.3% compared with 16.6% in H1 2024, while the total capital ratio stood at 21.5% versus 21.9% in the previous year.

Strategic and Operational Developments

During the first half of 2025, the bank continued to implement its strategy, focusing on optimising operations, enhancing customer solutions, and investing in a digital platform. The use of AI was expanded across employee operations, allowing more time for customer advisory services.

On 1 June 2025, Ingjerd Blekeli Spiten joined the Group Executive Board as Head of Personal Banking and Wealth Management, succeeding Niels Erik Jakobsen, who retired after nearly four decades with the bank.

Customer satisfaction metrics advanced further, with Jyske Bank ranking first among corporate clients with over 20 employees and being named “Best at Private Banking” for the tenth consecutive year.

The bank also consolidated its Copenhagen operations by relocating 950 employees to a new office at the Glass Cube, Kalvebod Brygge, on 7 July 2025. The move is expected to generate annual rental cost savings while promoting cross-functional collaboration.