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2015 EU-wide Transparency Exercise Summary - Jyske Bank

Core Content

The document presents the results of the 2015 EU-wide Transparency Exercise for Jyske Bank, including details on capital structure, risk exposure amounts, profit and loss (P&L), and sovereign exposure.

Capital Structure

Capital Definitions

• Own Funds: Increased from 3,894 to 4,045 (in EUR).
• Common Equity Tier 1 (CET1) Capital: Increased from 3,620 to 3,809 (in EUR), net of deductions and after transitional adjustments.
• Additional Tier 1 (AT1) Capital: Decreased from 126 to 111 (in EUR), net of deductions and after transitional adjustments.
• Tier 2 Capital: Decreased from 147 to 126 (in EUR), net of deductions and after transitional adjustments.

Capital Components

• Retained Earnings: Increased from 3,521 to 3,703 (in EUR).
• Accumulated Other Comprehensive Income: Increased slightly from 53 to 56 (in EUR).
• Adjustments to CET1: Decreased from -34 to -44 (in EUR), due to prudential filters.
• Intangible Assets: Decreased from -12 to -10 (in EUR).
• DTAs (Deferred Tax Assets): Decreased from -27 to -15 (in EUR), related to future profitability.
• Other Deductions: All categories reported zero changes.

Capital Ratios

• CET1 Capital Ratio: Increased from 15.28% to 16.05%.
• Tier 1 Capital Ratio: Increased from 15.81% to 16.52%.
• Total Capital Ratio: Increased from 16.43% to 17.05%.

Risk Exposure Amounts

• Total Risk Exposure Amount: Remained relatively stable at 23,697 (as of 31/12/2014) and 23,722 (as of 30/06/2015) (in EUR).
• Credit Risk Exposure: Slightly increased from 18,282 to 18,285 (in EUR).
• Securitisation Risk Exposure: Decreased from 36 to 31 (in EUR).
• Market Risk Exposure: Increased from 2,875 to 2,922 (in EUR), with subcategories including:
  • Foreign Exchange and Commodities Risk: Increased from 2,875 to 2,922 (in EUR).
  • Credit Valuation Adjustment: Increased from 250 to 263 (in EUR).
• Operational Risk Exposure: Slightly decreased from 2,290 to 2,253 (in EUR).

Profit and Loss (P&L)

• Total Operating Income, Net: Decreased from 1,402 to 674 (in EUR).
• Interest Income: Decreased from 1,513 to 943 (in EUR).
  • Debt Securities Income: Decreased from 193 to 87 (in EUR).
  • Loans and Advances Income: Decreased from 1,285 to 819 (in EUR).
• Interest Expenses: Decreased from 625 to 430 (in EUR).
  • Deposits Expenses: Decreased from 112 to 36 (in EUR).
  • Debt Securities Issued Expenses: Decreased from 502 to 383 (in EUR).
• Net Fee and Commission Income: Decreased from 236 to 130 (in EUR).
• Gains or Losses on Financial Assets:
  • Trading Book: Increased from -159 to 29 (in EUR).
  • Fair Value Through Profit or Loss: Decreased from -26 to -68 (in EUR).
• Profit or Loss Before Tax: Decreased from 417 to 242 (in EUR).
• Profit or Loss After Tax: Decreased from 415 to 186 (in EUR).

Risk - IRB Approach

• IRB Total Risk Exposure Amount: Increased from 15,824 to 16,108 (in EUR).
• Corporates:
  • Original Exposure: Decreased from 36,078 to 36,054 (in EUR).
  • Exposure Value: Decreased from 32,455 to 31,975 (in EUR).
  • Risk Exposure Amount: Decreased from 10,721 to 10,543 (in EUR).
• Retail:
  • Original Exposure: Decreased from 24,128 to 26,018 (in EUR).
  • Exposure Value: Decreased from 22,873 to 24,451 (in EUR).
  • Risk Exposure Amount: Decreased from 4,347 to 4,777 (in EUR).
• SME-related Exposures:
  • Corporates: Decreased from 8,599 to 8,755 (in EUR).
  • Retail: Decreased from 1,234 to 1,166 (in EUR).
• Securitisation:
  • Original Exposure: 98 (in EUR).
  • Exposure Value: 98 (in EUR).
  • Risk Exposure Amount: 36 (in EUR) as of 31/12/2014 and 31 (in EUR) as of 30/06/2015.

Sovereign Exposure

• Sovereign Exposure Amounts:
  • Gross Direct Long Exposures: Summarized for multiple countries, with most reporting zero.
  • Net Direct Positions: Similar to gross exposures, most reported zero.
  • Direct Sovereign Exposures in Derivatives: Zero for most countries.
  • Indirect Sovereign Exposures: Mostly zero, with some exceptions.
• Key Countries:
  • Austria, Belgium, Cyprus, and Estonia: All reported zero sovereign exposure for most categories.
  • Czech Republic:
    • Gross Direct Long Exposures: 2,041 (in EUR).
    • Net Direct Positions: 1,549 (in EUR).
    • Indirect Sovereign Exposures: Zero.

Key Information

• LEI Code: 3M5E1GQGKL17HI6CPN30
• Country Code: DK (Denmark)
• Regulatory Framework: Based on the Capital Requirements Regulation (CRR) and Capital Requirements Directive (CRD IV).
• Transitional Adjustments: Most categories showed no changes, with adjustments reported in specific sections.
• Risk Components: Includes credit, market, and operational risk, with detailed breakdowns for different exposure types.

Main Points

• The capital structure of Jyske Bank improved slightly in 2015, with increased CET1 and Tier 1 capital ratios.
• Risk exposure remained largely stable, with a slight increase in market risk.
• P&L showed a significant decline, primarily due to reduced interest income and expenses.
• Sovereign exposure was minimal across all categories, with the Czech Republic having the highest reported exposure.