Jyske Bank A/S Ord (JYSKF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi, everyone. Thank you for joining us in Jyske Bank's conference call for the financial results for the first quarter of 2025. This is Simon Haubert from Investor Relations speaking. With me, I have Jyske Bank's CEO Lars Merck and CFO Johan Nielsen. Lars and Bjørn will walk you through our prepared remarks. Afterwards, we'll open up for questions. I will now hand over to Lars. Thank you, Simon. And thank you all of you for joining this conference call for the Q1 results 2025. We have had a strong start to the year, building upon the positive momentum from recent quarters and growing EPS 2% year-on-year, and that is despite significantly lower Danish policy rates. The operating performance is supported by improved momentum with personal clients, higher assets under management and increased activity levels. Net fee income, thus, rose a full 20% year-on-year. In addition, effective cost management reduced the cost base by 3% year-on-year. Credit quality remains very solid, and we have increased our buffer for macroeconomic risks even further. In the last year, we've improved customer satisfaction significantly in all areas, This reflects a number of efforts, including bootcamps, reorganization and increasingly proactive interactions with clients. On the back of this, mortgage financing for personal customers in Q1 reached the highest organic growth rate since 2018. We look to build further upon this as strong customer relationships remain an integral part of our strategy. Lastly, we've gained improved visibility on the impact from upcoming regulation following the implementation of Basel IV input floors on 1st of January this year. This has increased rare and reduced the CET1 ratio a bit shy of one percentage point. This is in line with what we have guided. We are comf...