Jyske Bank

Earnings Release • Oct 21, 2021

Corporate Announcement

Upgrade of earnings expectations for 2021

For the first nine months of 2021, earnings per share came out at DKK 31.5. Core income rose by 10% and core expenses decreased by 4%. To a lesser extent, loan impairment charges were reversed. The net profit was just below DKK 2.4 bn.

On this background, the expected earnings per share in 2021 are lifted to DKK 40-41 from DKK 34-38. This corresponds to a pre-tax profit of DKK 3.8 bn-3.9 bn against the previous amount of DKK 3.3 bn-3.7 bn and a net profit of DKK 3.0 bn-3.1 bn against the previous amount of DKK 2.6 bn-2.9 bn.

The upgrade mirrors a continued high level of activity in all business units. In addition, costs were held under control and clients' credit quality remains solid.

The Interim Financial Report for the first nine months of 2021 will, according to plan, be published on 2 November 2021.

Yours faithfully, Jyske Bank

Contact: Birger Krøgh Nielsen, CFO, tel. +45 89 89 64 44.