Jyske Bank A/S Ord (JYSKF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi, everyone. Thank you for joining us on Jyske Bank's conference call for the financial results for 2025. This is Simon Haubart from Investor Relations speaking. With me, I have Jyske Bank CEO Lars Merck and CFO Bjo Nielsen. Lars and Bjo will walk you through our prepared remarks. Afterwards, we will open up for questions. I will now hand over to Lars. Thank you, Simon. And I'd also like to thank everybody for joining this conference call today. We closed 2025 on a strong note, delivering results above our previously guided ranges and growing EPS a full 18% year-on-year in Q4. This performance supported an upgrade of our outlook as well as our pre-announced results for 2025 in January. This morning we published the full set of results for 2025, including full details on strong capital position and updated capital targets. We now target a CET1 ratio of approximately 15% and a total capital ratio around 20%. This is at the lower end of our previous capital targets despite a systemic buffer of 0.9 percentage points. On the back of this, we have announced our largest capital distribution so far of 4.5 billion Danish in total, an increase of 20% year-on-year. We also provided our outlook for 26. We expect earnings per share in the range of 71 to 85, reflecting more normal levels of loan impairment charges and value adjustments following a favorable 25. We expect to continue to see positive core operating trends in 26. We are gaining personal customers in target segments, increasing our mortgage market share and have seen a healthy development with particularly larger corporates with high levels of customer satisfaction in all segments. The Danish economy is likely to show a balanced trajectory with a stable rate outlook as we maintain a solid credit quality with signific...