Jyske Bank A/S Unsp/Adr

Hi, everyone. Thank you for joining us on Lyske Bank's Consent Calls to the Financial Results for the third quarter of 2026. I am Simon Hauwaert from Investor Relations. With me, I have Lyske Bank's CEO, Lars Merck, and CFO, Bjo Nielsen. Lars and Bjo will walk you through our prepared remarks. Afterwards, we'll open up the questions. I will now hand over to Lars.

Thank you, Simon. I'll start with some highlights, and then Bjo will take you through some of the details. First of all, our earnings per share, which is important for Jyske Bank, is up 14% year-on-year exclusive value adjustments. This is supported by both internal and external factors, most notably a good business momentum and higher interest rates. Earlier we have said that we expected to be able to close the deal with formal apply by the 2nd of November and I'm happy to say that this is still our plan. Thirdly, we've seen a good and strong acceleration in mortgage loan during the last year and during the last quarter we are up 9% compared to third quarter last year. Also internally we've seen again, and we'll get back to this, a further improvement of the customer satisfaction across segments in Jyske Bank.

Thank you Lars. Looking at the performance in Q3, at the left hand side you can see a decent return, EPS return of 21 kroner in Q3, slightly below Q3 last year which had a very high trading income in that quarter. In the middle section you can see at the bottom that we are on target towards our 28 goals with a return on tangible equity of 11.1% and a cost-income ratio of 49. Looking at the top end of the section Net Inflation Income was up 4%, higher volumes and higher margins, especially on deposits were the drivers behind the 4% growth. Net fee and commission income is up 11% over the quarter, higher AUM, higher activity, larger number of transactions and also especially refinancing of mortgages was high here in the third quarter. Core expenses up 1% over the quarter still focus point for us to keep strong momentum on cost management. On the right hand side you can see that the AUM grew 12% year-over-year and 2% on the quarter. Continued growth due to financial markets which were positive and a net inflow of new customers. On the mortgage side, in the third quarter, 2% up QOQ, primarily driven by private mortgages. And on the lending side, for bank lending, it was up 1%, leasing up 1% as well. And if we exclude the transfer of mortgages to the balance sheet of Jysk Realkredit, we see an uplift of bank lending of 3% in the quarter. Deposits were flat after several quarters of a very strong growth. Going into the end of 26 we've upgraded our guidance here on the 12th of October and now we fight for 78 to 87 Kroner, comparably 4.7 to 5.2 billion net profit.