Jyske Bank’s profit drops by almost 600 Million in 2024

Jyske Bank reported a post-tax profit of 5.3 billion kroner for the last year, almost 600 million kroner less than the previous year, according to the annual financial statements released on Wednesday. Interest income also fell from just over 9.7 billion kroner in 2023 to nearly 9.5 billion kroner. Despite the decline, CEO Lars Mørch stated the bank has met its expectations, claiming the result is the second highest ever and at the upper end of the year’s revised expectations. Jyske Bank announced the start of the largest buyback program in its history, valued at 2.25 billion kroner, as a method of returning profit to shareholders, alongside a planned dividend payout of 30 percent of profits. Following the increase in interest rates since the energy crisis in 2022, the bank anticipates a significant profit decrease for the current year, expecting to earn between 3.8 and 4.6 billion kroner.