Jyske 1H 2018 Results In Line With Our Expectations; Maintaining FVE
No-moat and stable trend rated Jyske Bank reported DKK 1.4 billion in net profit for the first half of the year, which came in lower than DKK 1.6 billion a year ago. However, the decline was mostly caused by the first-quarter results, as net profit was DKK 811 million this quarter versus DKK 630 million in last year's second quarter. We maintain our fair value estimate and no-moat rating.Compared with the first quarter of 2018, the income increase in this quarter was mainly attributed to the re...
Jyske Bank is a commercial bank. Co. operates in four segments: banking activities, which comprise personal advisory service in relation to financial solutions including lease and financing activities; mortgage activities, which comprise financial solutions for the financing of real property; Trading and investment, which targets Danish and international investors and includes investment advisory service and asset management including money-market transactions and trading in foreign exchange, bonds, equities, commodities and derivatives; and other.As of Dec. 31, 2014, total assets and total deposits were DKK541,679,000,000 and DKK152,693,000,000 respectively.
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