Jyske Bank (JYSK) ABG speed dating 2020 presentation summary

Earnings and shareholder value

• 2021E earnings-per-share outlook was raised 31% vs. the outset, amid high activity in capital, car and property markets.

• Book value per share increased 53% from 2015 to Q2 2021.

Pricing and cost measures

• Deposit repricing and fee-structure changes increased the annualized run rate by DKK 0.6bn.

• Staff numbers fell 5% YoY and fully accessible branches declined 22% YoY.

Mortgage lending and resilience

• Mortgage lending represented 79% of lending; the market was 4x the size of bank lending and growing 5% p.a.

• Danish mortgage credit institutions had ~10x lower cost of risk than Danish banks.