Q1 2026 Jyske Bank A/S Earnings Call Transcript
Key Points
- Jyske Bank AS (JYSKY) delivered a strong earnings per share of DKK 17 for Q1 2026, indicating solid financial performance.
- The bank maintained a robust CET1 ratio of 15.9%, well above the target level of 15%, showcasing strong capital position.
- Net fee and commission income showed a steady upward trend, driven by asset management, pension, and insurance activities.
- The bank has successfully implemented disciplined cost management, keeping core expenses flattish year-over-year despite inflationary pressures.
- Jyske Bank AS (JYSKY) is making significant progress in AI implementation, with plans to scale successful solutions to enhance productivity and customer interactions by 2028.
- The financial markets posed challenges, impacting results despite the underlying performance.
- Asset under management dropped by 1% or DKK 3 billion in Q1 2026, indicating a decline in this area.
- Bank loans decreased by 1%, primarily due to lower exposures from volatile public entities and the transfer of bank loans to the mortgage balance.
- Geopolitical uncertainty and the Iranian war have led to higher oil prices and potential inflation, posing risks to the economic environment.
- The bank has been conservative in its credit processes, which may have contributed to subdued growth in bank lending.
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Hi, everyone. Thank you for joining us on Eke Bank's conference call for the financial results for the first quarter of 2026. This is Simon Hagbart from Investor Relations speaking. With me, I have Jyske Bank's CEO, Lars Morch; and CFO, Birger Nielsen. Lars and Birger will walk you through our prepared remarks. Afterwards, we will open up for questions. I will now hand over to Lars.
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Thank you, Simon, and I would also like to welcome you to our conference call for the first quarter of 2026. We made a solid start to 2026, delivering earnings per share of DKK 17. Results were impacted by challenging financial markets, but our underlying performance continued to show good progress supported by high activity disciplined cost management and strong credit quality, while we maintained a clear focus on customers, customer relationships and strategy execution. Credit quality remained very
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