Interim Financial Report, H1 2025

Core Insights - Jyske Bank has significantly improved customer satisfaction, being named "Best at Private Banking" for the tenth consecutive year, which is a central element of its strategy [1][6][7] - In H1 2025, earnings per share increased by 1% to DKK 39.4, despite lower short-term interest rates, with net profit expectations for 2025 set at the upper end of DKK 3.8bn-4.6bn [2][9][11] - The Danish economy is experiencing growth, with rising employment and housing market activity, although geopolitical uncertainties and tariff changes pose challenges [3] Financial Performance - Core income decreased by 5% to DKK 6,503m due to lower net interest income, while net fee and commission income rose by 14% [12] - Core expenses increased to DKK 3,195m, influenced by the relocation of premises, but underlying core expenses decreased by 1% [13] - Loan impairment charges resulted in an income of DKK 47m in H1 2025, reflecting solid credit quality, with a capital ratio of 21.5% and a common equity tier 1 capital ratio of 16.3% [14] Strategic Developments - The strategy focuses on optimizing operations, investing in customer segments, and enhancing digital platforms to support sustainable transitions and improve risk management [4] - The use of AI in daily operations has increased, allowing employees to dedicate more time to customer interactions [4] - A new Group Executive member, Ingjerd Blekeli Spiten, has been appointed as Head of Personal Banking and Wealth Management [5] Operational Changes - Jyske Bank has consolidated its Copenhagen offices into a new location, the Glass Cube at Kalvebod Brygge, promoting collaboration and accessibility [8][10]