Jyske Bank A/s · OMXCOP:JYSK
Jyske Bank A/s — Jyske Bank A/S Ord — Q2 2026 Earnings Presentation
42 slides from Jyske Bank A/s's earnings presentation, Aug 19, 2026
Slide 1: Q2 2026 Investor Presentation
Q2 2026 Investor Presentation 19 August 2026
Slide 2: Contents
Investor Presentation 2 Contents 1 Summary 2 2 Highlights 6 Q2 2026 3 Financials 13 Summary 4 5 Volumes Sustainability 21 27 6 Jyske Bank in brief 31 7 Macroeconomics 37 8 Calendar and contacts 40
Slide 3: Summary (1/3): Highlights
Summary (1/3) | Highlights 3 Highlights EPS increased 12% y/y Accelerating High customer in Q2 2026 mortgage growth satisfaction Record-high Q2 EPS, supported by business Jyske Frihed, a flexible mortgage product, Highest private banking customer momentum and positive markets. has gained strong trac
Slide 4: Strong Q2 2026, growing EPS 12% y/y
Summary (2/3) | Financials 4 Strong Q2 2026, growing EPS 12% y/y, supported by higher business volumes and positive financial markets Highest Q2 EPS on record Net profit of DKK 1,353m in Q2 2026 AuM grew 9% q/q in Q2 2026 Earnings per share (DKK) Profit/loss statement Business volumes (index) DKKm Q
Slide 5: Well on track to deliver on 2026 EPS outlook of DKK 71-85
Summary (3/3) | Outlook 5 Well on track to deliver on 2026 EPS outlook of DKK 71-85 Normalising value adjustments and loan impairments in 2026 Lower in 2026 than in 2025 Core income Primarily caused by lower level of value adjustments Earnings per share (DKK) Slightly lower in 2026 than in 2025 89 7
Slide 6: Highlights
Investor Presentation 6 Contents 1 Summary 2 2 Highlights 6 Q2 2026 3 Financials 13 Highlights 4 5 Volumes Sustainability 21 27 6 Jyske Bank in brief 31 7 Macroeconomics 37 8 Calendar and contacts 40
Slide 7: Mortgage lending doubled since acquisition in 2014
Highlights (1/6) 7 Mortgage lending Mortgage loans now exceeding DKK 400bn doubled since Mortgage loans (nominal, DKKbn) 450 acquisition in 2014 Jyske Bank acquired the mortgage subsidiary, Jyske Realkredit (formerly BRFkredit), on 30 April 2014 +6% p.a. 400 Jyske Realkredit 350 300 Sector (rebased)
Slide 8: Successful launch of new mortgage product
Highlights (2/6) 8 Successful launch of Recently launched flexible mortgage product has strong traction new mortgage Cumulative Jyske Frihed mortgage lending (DKKbn) 3% product 6 Share of Jyske Bank’s mortgage lending to personal customers accumulated in c. 3 months 5 4 Jyske Frihed – a flexible var
Slide 9: Highest private banking customer satisfaction for 11 consecutive years
Highlights (3/6) 9 Highest private banking customer satisfaction for 11 consecutive years and continued net customer inflow #1 #1 #1 #1 #1 #1 #1 #1 #1 #1 #1 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Private banking customer satisfaction Source: Voxmeter, rolling 12-month CEM score.
Slide 10: Highest organic AuM growth on record in Q2
Highlights (4/6) 10 Highest organic Assets under management grew DKK 28bn (9%) in Q2 2026 AuM growth on Assets under management (DKKbn) record in Q2 350 325 300 275 250 225 200 175 150 125 Positive net inflow of assets under management from both retail 100 and institutional customers, further underp
Slide 11: A turning point for net interest income
Highlights (5/6) 11 A turning point for Net interest income increased q/q for the first time since 2023 net interest income Net interest income excl. one-off items (DKKm) 2,600 Short-term interest rates peaked in Q4 2023 2,500 2,400 2,300 One-off 2,200 2,100 2,000 1,900 1,800 1,700 Net interest inco
Slide 12: Strong credit quality
Highlights (6/6) 12 Strong credit quality Share of stage 3 exposures at lowest level on record IFRS 9 stage 3 share of net loans and guarantees 1.6% Acquisitions of Handelsbanken Denmark 1.4% and PFA Bank in 2022 and 2023 1.2% 1.0% 0.8% 0.6% 0.4% Stage 3 exposures reached the lowest share on record
Slide 13: Financials
Investor Presentation 13 Contents 1 Summary 2 2 Highlights 6 Q2 2026 3 Financials 13 Financials 4 5 Volumes Sustainability 21 27 6 Jyske Bank in brief 31 7 Macroeconomics 37 8 Calendar and contacts 40
Slide 14: Net interest income increased 2% q/q
Financials (1/7) | Net interest income 14 Net interest income increased 2% q/q Net interest income trough Net interest income down 1% y/y Net interest income up 2% q/q Q2 2026 showed the first q/q growth since 2023, excluding a positive one-off in Q4 2025. This reflects a prolonged period of gradual
Slide 15: Net fee income up 6% y/y in Q2 2026
Financials (2/7) | Net fee and commission income 15 Net fee income up 6% y/y in Q2 2026 Asset management and custody +16% y/y to DKK 374m in Q2 Net fee income up 6% y/y Underpinned by higher AuM Continued growth of assets under management supported by positive financial markets and net inflow. Net f
Slide 16: Strong value adjustments in Q2 2026
Financials (3/7) | Value adjustments and investment portfolio earnings 16 Strong value adjustments in Q2 2026 Value adjustments and dividends underpinned by spread Investment portfolio earnings at higher level in Q2 2026 amid tightening of Danish mortgage bonds in Q2 2026 spread tightening of Danish
Slide 17: Low level of other income in Q2 2026
Financials (4/7) | Other income 17 Low level of other income in Q2 2026 Other income fluctuating around a stable level in recent years, Gains from sale of operating lease assets at low level with no significant items in Q2 2026 in Q2 2026 Other income (DKKm) Income from operating lease (net, DKKm) 3
Slide 18: A continued stable underlying cost development
Financials (5/7) | Costs 18 A continued stable underlying cost development Cost initiatives offset impact from inflation Core expenses declined 4% y/y -1% y/y adjusted for one-off items Core expenses decreased 4% y/y. Adjusted for one-off items, core expenses decreased 1% y/y, as cost initiatives he
Slide 19: Record-low share of stage 3 exposures
Financials (6/7) | Credit quality 19 Record-low share of stage 3 exposures Loan impairment charges amounted to DKK 11m in Q2 2026, Cost of risk at 0bp in Q2 2026 Lower share of non-performing loans equivalent to a cost of risk of 0bp. Cost of risk and post-model adjustments buffer (bp) Net loans and
Slide 20: Underlying CET1 ratio build of 0.5pp in Q2 2026
Financials (7/7) | Capital and funding 20 Underlying CET1 ratio build of 0.5pp in Q2 2026 Solid capital position: CET1 ratio incl. reservations for CET1 ratio of 16.4% at end of Q2 REA decreased slightly q/q expected payouts of 15.7% vs. c. 15% target. REA down DKK 1bn q/q: Higher credit risk caused
Slide 21: Volumes
Investor Presentation 21 Contents 1 Summary 2 2 Highlights 6 Q2 2026 3 Financials 13 Volumes 4 5 Volumes Sustainability 21 27 6 Jyske Bank in brief 31 7 Macroeconomics 37 8 Calendar and contacts 40
Slide 22: Positive development across business volumes in Q2
Volumes (1/5) | Business volumes 22 Positive development across business volumes in Q2 Mortgage loans (nominal) Assets under management up 9% q/q Lending up 2% y/y, deposits up 7% y/y +1% q/q underpinned by increased lending to personal customers and launch of new Jyske Frihed product. Business volu
Slide 23: Focused on structurally growing, low-risk collateralised lending
Volumes (2/5) | Lending composition 23 Focused on structurally growing, low-risk collateralised lending Mortgage-like lending constitutes 75% of total lending Well-diversified lending portfolio with emphasis on housing Split of net lending volumes (excl. repo) Loans, advances and guarantees by secto
Slide 24: Robust mortgage portfolio with average LTV of 44%
Volumes (3/5) | Mortgage exposures 24 Robust mortgage portfolio with average LTV of 44% 95% of mortgage lending below 60% LTV Well-diversified mortgage product mix Loan-to-value distribution of mortgage exposures Product split of mortgage exposures 80%-100% 100% 100% 60%-80% Non-capped 90% 90% float
Slide 25: Prudent LTV of CRE exposures
Volumes (4/5) | Commercial property 25 Prudent LTV of Manageable share of overall exposure RRE/CRE exposure as share of loans and guarantees Non-performing loans at low level Key figures1 on RRE/CRE exposure CRE exposures Residential rental property mortgages Office, business property mortgages 0.00
Slide 26: Attractive Danish mortgage market
Volumes (5/5) | Main exposure: The Danish mortgage market 26 Attractive Danish Balance principle reduces funding risks Balance sheet of Jyske Bank, incl. Danish match funding principle High and resilient growth of mortgage loans Danish lending (DKKbn) mortgage market Other assets Equity Other liabil
Slide 27: Sustainability
Investor Presentation 27 Contents 1 Summary 2 2 Highlights 6 Q2 2026 3 Financials 13 Sustainability 4 5 Volumes Sustainability 21 27 6 Jyske Bank in brief 31 7 Macroeconomics 37 8 Calendar and contacts 40
Slide 28: Sustainability at Jyske Bank
Sustainability (1/3) | In brief 28 Sustainability ESG ratings in upper half of banks Select ESG ratings at Jyske Bank A MSCI ESG rating (‘CCC’ to ‘AAA’) “ Low Risk Sustainalytics ESG rating (‘Negligible Risk’ to ‘Severe Risk’) B CDP climate change score (‘D-’ to ‘A’) C Prime We are committed to maki
Slide 29: Net-zero CO₂ emissions at the latest by 2050
Sustainability (2/3) | Climate transition plan 29 Net-zero CO₂ emissions at the latest by 2050 2050 targets Long-term objective to obtain net-zero CO₂e emissions made by both our customers and ourselves by 2050. Since 2020, the emission intensity of total lending and asset mgmt. has been reduced by
Slide 30: Mitigating climate change via financing
Sustainability (3/3) | Green Finance Framework 30 Mitigating climate Green financing increased 96% since 2019 change via financing Green Finance Framework lending (DKKbn) DKK 139bn (27% of lending excl. repo) Sustainable production, etc.1 Low-emission vehicles, etc. Renewable energy Low-energy build
Slide 31: Jyske Bank in brief
Investor Presentation 31 Contents 1 Summary 2 2 Highlights 6 Q2 2026 3 Financials 13 Jyske Bank 4 5 Volumes Sustainability 21 27 in brief 6 Jyske Bank in brief 31 7 Macroeconomics 37 8 Calendar and contacts 40
Slide 32: One of the largest financial institutions in Denmark
Jyske Bank in brief (1/5) | Summary 32 One of the largest Nationwide in AAA economy Large in capabilities, High customer satisfaction close in relationships financial institutions Jyske Bank at a glance1 On track to realising 2028 targets3 “ DKK 5.3bn in Denmark #1 Net profit Private Banking custome
Slide 33: History of Jyske Bank
Jyske Bank in brief (2/5) | History 33 History of Jyske Bank Solid consolidator with strong track record Founded Post-2008 acquisitions Focus on core business 1967 Consolidator Divesting non-priority activities Jyske Bank founded by merger of four local 2011: FinansNord, Easyfleet 2013-2015: Interna
Slide 34: Structurally attractive banking environment
Jyske Bank in brief (3/5) | Denmark 34 Structurally Outgrowing peers GDP, chain-linked volumes (2010=100) A digital frontrunner attractive banking 150 140 Denmark environment 130 120 1st vs. Euro area Euro area IMD World Digital Competitiveness Ranking of 2025 (5 th overall) 110 100 90 2004 2008 201
Slide 35: EPS more than quadrupled since 2020
Jyske Bank in brief (4/5) | Financials 35 89 EPS more than quadrupled since 2020 85 80 2015-2019: The first years following acquisition of mortgage credit institution, heavily influenced by negative interest rate environment in Denmark. 2019-2022: Positive deposit margin restored as first mover, fee
Slide 36: 2028 strategy
Jyske Bank in brief (5/5) | Strategy 36 2028 strategy Targets 10% <50% ~15% Capital distribution Potential for more Return on Cost/income ratio CET1 ratio Share buybacks tangible equity and 30% dividend Personal & Private Banking #1 Top 3 +35% Assets under management Private banking customer satisfa
Slide 37: Macroeconomics
Investor Presentation 37 Contents 1 Summary 2 2 Highlights 6 Q2 2026 3 Financials 13 Macroeconomics 4 5 Volumes Sustainability 21 27 6 Jyske Bank in brief 31 7 Macroeconomics 37 8 Calendar and contacts 40
Slide 38: Balanced economic development
Macroeconomics | Select key figures (1/2) 38 Balanced Healthy GDP growth Real gross domestic product (2010=100) Inflation at manageable level of c. 2% HICP (year/year) economic 150 140 Denmark 12% 10% development 130 120 8% 6% 4% Euro area 110 Euro area 2% 100 0% Denmark 90 -2% 2004 2008 2012 2016 2
Slide 39: Growing sector business volumes
Macroeconomics | Select key figures (2/2) 39 Growing sector Real estate prices up 5% in the last year Danish real estate prices (year/year) Housing remains affordable vs. history House prices to disposable income (2015=100) business volumes 30% 20% Owner-occupied flats 140 130 Euro area 120 10% 110
Slide 40: Financial calendar 2026
Calendar and contacts 40 Financial calendar 2026 05 Feb. Announcement of the 2025 results 05 Feb. Annual report 2025 05 Feb. Risk management report 2025 17 Mar. Annual general meeting 06 May Interim report for the first quarter of 2026 19 Aug. Interim report for the first half of 2026 28 Oct. Interi
Slide 41: Disclaimer
41 Disclaimer This presentation and the information contained therein is furnished and has advice, or a representation that any investment or strategy is suitable or index, currency, credit, political, liquidity, time value, commodity and market been prepared solely for information purposes by Jyske
Slide 42: Klik for at tilføje titel
Klik for at tilføje titel