Jyske Bank’s profits decline amid lower interest rates

Jyske Bank’s third-quarter earnings have fallen to 1.4 billion DKK from 1.6 billion DKK a year prior, with interest income of over 2.3 billion DKK, marking a decrease from previous quarters. In nine months, the bank earned roughly four billion DKK, with a total interest income of 7.2 billion DKK. Despite this dip, Jyske Bank’s forecasts for 2024 predict profits of 5 to 5.3 billion DKK, after earning a historical high of 5.9 billion DKK the year before. Alongside financial results, the bank, under CEO Lars Mørch, has announced a new strategic plan focusing on core competencies and enhanced development areas to better serve its customers. Additionally, Jyske Bank has restructured to more effectively allocate resources. The bank aims for a 10% return on equity by 2028 to combat potential lower interest rates ahead.