Profit before contribution to the Danish Private Contingency Association: DKK 573m


-	Contribution to the Danish Private Contingency Association (DPCA): DKK 295m.
-	Core earnings before loan impairment charges and provisions for guarantees:
DKK 1,447m. 
-	Loan impairment charges and provisions for guarantees under core earnings:
DKK 1,026m. 
-	Earnings on investment portfolios: DKK 152m.
-	Pre-tax profit at mid-year: DKK 278m
-	Solvency ratio: 14.0% (Tier 1: 12.2%). 
-	Liquidity reserve: DKK 47bn. 


According to Anders Dam, Managing Director and CEO:

”Since 1 July operations have confirmed that core earnings before loan
impairment charges and provisions for guarantees will for 2009 as a whole reach
the upgraded level of about DKK 2,700m. Also, so far the development of
impairment charges is as expected. 

Due to the Bank's solid liquidity reserve and the still stronger solvency,
Jyske Bank's management has not yet found it necessary to make use of the
opportunities in Bank Package 2 - neither in relation to government Tier 1
capital or a state guarantee for the issue of senior debt. The Group's solvency
ratio has continuously improved over the past six quarters due to the
asset-and-liability and risk management as well as consolidation. This trend
has continued in Q3. 

At the end of the first quarter 2009, we estimated that Bank Package 1 would
probably drain Jyske Bank's reserves for up to DKK 1,900m over the eight
quarters that the package applies. Based on the accounts published by other
banks and the early signs of stabilization in the Danish economy, we now expect
that the total payments under Bank Package 1 will not exceed DKK 25bn. We now
assess that Jyske Bank's payments will amount to approx. DKK 1,300m, of which
Jyske Bank has recognised charges totalling DKK 526m after three quarters.
Currently Jyske Bank's contribution amounts to 5.21% of the payments under Bank
Package 1”, concludes Anders Dam. 

Attachments

fmrsk2k2009-uk.pdf