Jyske Bank nine-month core income down 3% on lower value adjustments
Overview
Denmark bank's Q1-Q3 2026 EPS fell to DKK 61 from DKK 63 last year
Core income declined 3% yr/yr, mainly due to lower value adjustments
Company agreed to acquire wealth manager Formuepleje, deal expected to close Nov. 2
Outlook
Jyske Bank says upgraded outlook supported by strong credit quality and high customer activity
Company sees continued positive momentum in business volumes
Jyske Bank notes resilient Danish economy but cites ongoing geopolitical uncertainty and market volatility
Result Drivers
LOWER VALUE ADJUSTMENTS - Co said core income fell mainly due to lower value adjustments, partly offset by higher volumes and increased net fee and commission income from asset management
COST MANAGEMENT - Co attributed performance to disciplined cost management and strong credit quality
WEALTH MANAGEMENT EXPANSION - Co said Formuepleje acquisition supports ambition to accelerate growth in wealth management
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
9M EPS | DKK 61 |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Jyske Bank A/S is DKK1,175.00, about 10.4% above its October 27 closing price of DKK1,064.00
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)