Jyske Bank A/S
Jyske Bank Q1

Jyske Bank A/S / 

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-	PROFIT BEFORE CONTRIBUTION TO THE DANISH PRIVATE CONTINGENCY ASSOCIATION
(DCPA): DKK 27M 

-	Contribution to DPCA: DKK 94m.
-	Pre-tax loss: DKK 67m.
-	Net interest income was up by 18%.
-	Core earnings before loan impairment charges and provisions for guarantees:
DKK 604m. 
-	Loan impairment charges and provisions for guarantees under core earnings:
DKK 649m. 
-	Earnings from investment portfolios: DKK 72m.
-	Solvency ratio: 12.9% (Tier 1: 11.2%).
-	Individual solvency requirement: 6.9%.
-	The liquidity reserve amounted to a record DKK 43bn. 
-	Our forecast of core earnings for 2009 remains unchanged.
-	Jyske Bank applies for a capital injection of up to DKK 3.1bn under Bank
Package II. 


According to Anders Dam, Managing Director and CEO:

'Given the unchanged level of core earnings and the satisfactory earnings from
our investment portfolios, the management focuses on the loan impairment
charges in the first quarter of 2009. The fact that the impairment charges are
at the same level as in the fourth quarter of 2008 is due to the violent
economic turnaround. The biggest challenge faced by the Bank is therefore to
bring down the loan impairment charges to a much lower level and to prevent
their becoming write-offs. 

Today the Supervisory Board resolved that Jyske Bank will apply for a capital
injection under Bank Package II and that the Group's individual solvency
requirement will be published in that connection. With its sol-vency ratio of
almost 13%, an individual solvency requirement of 6.9%, and record-high
liquidity reserves, Jyske Bank is currently not in need of additional capital
or liquidity, but Bank Package I will probably drain Jyske Bank's reserves for
up to DKK 1.9bn over the eight quarters that the package applies, and the Bank
would like a capital injection under Bank Package II to meet that drain.
Although projections of earnings and capital including payment under Bank
Package I do not indicate any need for a capital injection, the Bank wishes to
retain the possibility of 'insuring' against a recession so long and deep that
the Bank's sol-vency might be jeopardised and the Bank might be forced to
reduce loans and advances,' concludes Mr Dam. 

News Source: NASDAQ OMX

28.04.2009  Financial News transmitted by DGAP
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Language:     English
Issuer:       Jyske Bank A/S
              
               
              Denmark
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         DK0010307958
WKN:          
 
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