Interim financial report 1st quarter 2022


In connection with the presentation of the Interim Financial Report for the first quarter of 2022, Carsten Tirsbæk Madsen, Chief Executive Officer, states:

‘Today Jyske Realkredit announces a profit of DKK 307m for the first quarter of 2022 against a profit of DKK 206m for the first quarter of 2021. Jyske Realkredit’s capital base is at a historically high level and credit quality is solid. Offhand, the Danish economy is sound and robust following the re-opening of society. In the first quarter of 2022, impairment charges were reversed on a net basis, including a part of the management's estimate relating to Covid-19. Rising interest rates and inflation as well as the war in Ukraine result in further uncertainty as to the development of the Danish economy and future property values. In the light of this, Jyske Realkredit has raised its total management's estimates of impairment charges.’