2026 Q3 - tulosraportti
UUTTA
6 päivää sitten
‧30 min
25,00 DKK/osake
Viimeisin osinko
2,32%Tuotto/v
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä |
|---|---|---|
| 49 | ||
| 100 | ||
| 100 | ||
| 18 | ||
| 75 |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastoja ja ETF:iä jotka omistavat osaketta
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q4 - tulosraportti 2.2.2027 |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q3 - tulosraportti 28.10. | ||
2026 Q2 - tulosraportti 19.8. | ||
2026 Q1 - tulosraportti 6.5. | ||
2025 Q4 - tulosraportti 5.2. | ||
2025 Q3 - tulosraportti 29.10.2025 |
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
·2 päivää sittenQ3 BANK REPORTS – WHAT TRENDS CAN BE SPOTTED? This is neither a recommendation nor a complete analysis – rather just some observations based on the published Q3 bank reports for Danske Bank, Nordea, Jyske Bank and Skjern Bank. These observations are made at a time when tech stocks are falling sharply – and the doom prophets have started to show up. I may well have an opinion on this dimension, but it is no more qualified than your own, so the below is solely based on the Q3 reports for the mentioned banks. Despite all market participants emphasizing the fierce competition among banks at the moment (and I have no basis to doubt this), it surprisingly appears that net interest income has bottomed out for this time. Danske Bank's net interest income is all-time high, Skjern Bank has historically only had one quarter that was better (Q4 2023), while the turnaround is also clear at Jyske Bank. Nordea's development is lagging slightly behind, but the turnaround has happened. With continued rising lending (though stagnating at Jyske Bank), it must be expected that the coming quarters will be quite favorable for us bank investors on the top line of the income statement. The interest rate hike that has already taken place is expected to start hitting harder in the coming time. Note, by the way, that the analysis published by Danske Bank last Thursday on SJF Bank (which prompted a nice increase for SJF Bank) has an embedded estimate with an increase in net interest income of 23.7% from 2026 to 2027. We cannot, of course, use individual analyses to draw conclusions about the entire industry – but I believe there is consensus on higher top lines. Here it is worth noting a single circumstance: while high interest rates are intuitively favorable for the result, the movement from low interest rates to high interest rates comes at a cost in the banks' income statement. The banks' fair value adjustment of interest-bearing assets thus counts heavily downwards in a quarter where interest rates have been rising. For Jyske Bank, fair value adjustments have "cost" approx. 300 million DKK on the result in Q3 2026 compared to Q2 2026 or Q3 2025. This is therefore not an immaterial circumstance when the total profit of 1,727 million DKK for Q3 is evaluated. Even though the value adjustment is real enough, it is one of the factors that I would like to have normalized in my calculations of expected future earnings. As you may know, one of my favorite subjects is management judgment ("post-model adjustments"), which the managements of the Danish banks have approached completely differently – and not surprisingly, as the concept in itself is vague. It is the dummy variable that managements have to adjust for Corona, Ukraine, agricultural packages or... As an analyst (and auditor) and investor, it is frustrating that this opportunity is given without us getting further insight into how the amount is determined. Furthermore, we typically really have to scrutinize the reports to get the figure established. Currently, for example, Jyske Bank has provisioned an additional 119 million DKK for losses in "post-model adjustments" with the justification "reflecting among other things, risks involved in the expected economic development". This is not an accusation against Jyske Bank, as they are neither worse nor better than the other banks, but it is once again clear that management judgment is a black box for us investors and owners. However, in my attempt to deduce a normalized earnings for Jyske Bank, I can conclude once again that I must adjust for the 119 million DKK in Q3. So when I adjust for the fair value adjustments and the increased loss provisioning due to management judgment, I will actually be almost disappointed if the profit before tax in Q4 does not exceed 2 billion DKK. "All other things being equal" (and I know this is a massive assumption in a changing world), I look forward with confidence to the coming quarters as a bank investor.
·28.10.Q3 profit of 1.28 bn kr. (-12 %), pressed by lower market value adjustments and higher costs. Core earnings are growing and net interest and fee income rise to 3.04 bn kr. from 2.88 bn kr. Significant lending growth. Bank lending rises 37 % to 143 bn kr., while mortgage lending grows to 383 bn kr. Upward adjustment maintained and JB expects annual profit of 4.7–5.2 bn kr. against 5.4 bn kr. in 2025. Formuepleje acquisition must strengthen the position among affluent clients, but client outflows of 625 mio. kr. present an integration risk. I see a solid bank, but not necessarily an obvious buying opportunity after this year's price increase of 25.5 %. The core business is growing, but earnings are falling, and costs are rising. The crucial factor now is whether the lending growth can be translated into higher earnings per share and better return on capital. Source: Børsen, Mathias Hagemann-Nielsen, 28 October 2026.
·27.10.Credit Suisse collapsed in March 2023. Its balance sheet (= assets = liabilities) was larger than Danske Bank's. The bank was too big to fail; it was considered what we in Denmark call a SIFI bank, like e.g. Jyske Bank. Therefore, the Swiss central bank provided a loan, and the larger Swiss bank UBS took it over. Shareholders in Credit Suisse suffered heavy losses. Hopefully, it won't go that badly for Jyske Bank's shareholders. But if it continues its course towards more of a private banking profile, it is probably not wise for small shareholders to put their money at stake in the bank's modest actual core capital (equity that may be included in the capital base).- ·15.10.Here is another example of a crisis trigger: Novo Nordisk's share price peaked a good two years ago. Now it is almost down to a quarter of the peak price. (Peak price 1028 ul. June, bottom price 228 ul. March 26.) USA's 10 largest companies in March 2022 cost on average a good 1200 billion $. In September this year, the same companies' average market value was over 3,000 billion $. That is quite a fierce "modernization"! Especially NVDA (NVIDEA) and Alphabet (Google's parent company) had risen. Only UNH's (UnitedHealth Group) market value had fallen. A graph with the market values at the two points in time on separate axes shows significant dispersion. Given that US stocks are being diluted (which the enthusiastic owners might realize at some point), prices might go the same way as Novo Nordisk's.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tuotteita joiden kohde-etuutena tämä arvopaperi
Välittäjätilasto
Ostaneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 22 235 | 22 235 | 0 | 0 |
Myyneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 22 235 | 22 235 | 0 | 0 |
2026 Q3 - tulosraportti
UUTTA
6 päivää sitten
‧30 min
25,00 DKK/osake
Viimeisin osinko
2,32%Tuotto/v
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Foorumi
Liity keskusteluun Nordnet Socialissa
- ·2 päivää sittenQ3 BANK REPORTS – WHAT TRENDS CAN BE SPOTTED? This is neither a recommendation nor a complete analysis – rather just some observations based on the published Q3 bank reports for Danske Bank, Nordea, Jyske Bank and Skjern Bank. These observations are made at a time when tech stocks are falling sharply – and the doom prophets have started to show up. I may well have an opinion on this dimension, but it is no more qualified than your own, so the below is solely based on the Q3 reports for the mentioned banks. Despite all market participants emphasizing the fierce competition among banks at the moment (and I have no basis to doubt this), it surprisingly appears that net interest income has bottomed out for this time. Danske Bank's net interest income is all-time high, Skjern Bank has historically only had one quarter that was better (Q4 2023), while the turnaround is also clear at Jyske Bank. Nordea's development is lagging slightly behind, but the turnaround has happened. With continued rising lending (though stagnating at Jyske Bank), it must be expected that the coming quarters will be quite favorable for us bank investors on the top line of the income statement. The interest rate hike that has already taken place is expected to start hitting harder in the coming time. Note, by the way, that the analysis published by Danske Bank last Thursday on SJF Bank (which prompted a nice increase for SJF Bank) has an embedded estimate with an increase in net interest income of 23.7% from 2026 to 2027. We cannot, of course, use individual analyses to draw conclusions about the entire industry – but I believe there is consensus on higher top lines. Here it is worth noting a single circumstance: while high interest rates are intuitively favorable for the result, the movement from low interest rates to high interest rates comes at a cost in the banks' income statement. The banks' fair value adjustment of interest-bearing assets thus counts heavily downwards in a quarter where interest rates have been rising. For Jyske Bank, fair value adjustments have "cost" approx. 300 million DKK on the result in Q3 2026 compared to Q2 2026 or Q3 2025. This is therefore not an immaterial circumstance when the total profit of 1,727 million DKK for Q3 is evaluated. Even though the value adjustment is real enough, it is one of the factors that I would like to have normalized in my calculations of expected future earnings. As you may know, one of my favorite subjects is management judgment ("post-model adjustments"), which the managements of the Danish banks have approached completely differently – and not surprisingly, as the concept in itself is vague. It is the dummy variable that managements have to adjust for Corona, Ukraine, agricultural packages or... As an analyst (and auditor) and investor, it is frustrating that this opportunity is given without us getting further insight into how the amount is determined. Furthermore, we typically really have to scrutinize the reports to get the figure established. Currently, for example, Jyske Bank has provisioned an additional 119 million DKK for losses in "post-model adjustments" with the justification "reflecting among other things, risks involved in the expected economic development". This is not an accusation against Jyske Bank, as they are neither worse nor better than the other banks, but it is once again clear that management judgment is a black box for us investors and owners. However, in my attempt to deduce a normalized earnings for Jyske Bank, I can conclude once again that I must adjust for the 119 million DKK in Q3. So when I adjust for the fair value adjustments and the increased loss provisioning due to management judgment, I will actually be almost disappointed if the profit before tax in Q4 does not exceed 2 billion DKK. "All other things being equal" (and I know this is a massive assumption in a changing world), I look forward with confidence to the coming quarters as a bank investor.
- ·28.10.Q3 profit of 1.28 bn kr. (-12 %), pressed by lower market value adjustments and higher costs. Core earnings are growing and net interest and fee income rise to 3.04 bn kr. from 2.88 bn kr. Significant lending growth. Bank lending rises 37 % to 143 bn kr., while mortgage lending grows to 383 bn kr. Upward adjustment maintained and JB expects annual profit of 4.7–5.2 bn kr. against 5.4 bn kr. in 2025. Formuepleje acquisition must strengthen the position among affluent clients, but client outflows of 625 mio. kr. present an integration risk. I see a solid bank, but not necessarily an obvious buying opportunity after this year's price increase of 25.5 %. The core business is growing, but earnings are falling, and costs are rising. The crucial factor now is whether the lending growth can be translated into higher earnings per share and better return on capital. Source: Børsen, Mathias Hagemann-Nielsen, 28 October 2026.
- ·27.10.Credit Suisse collapsed in March 2023. Its balance sheet (= assets = liabilities) was larger than Danske Bank's. The bank was too big to fail; it was considered what we in Denmark call a SIFI bank, like e.g. Jyske Bank. Therefore, the Swiss central bank provided a loan, and the larger Swiss bank UBS took it over. Shareholders in Credit Suisse suffered heavy losses. Hopefully, it won't go that badly for Jyske Bank's shareholders. But if it continues its course towards more of a private banking profile, it is probably not wise for small shareholders to put their money at stake in the bank's modest actual core capital (equity that may be included in the capital base).
- ·15.10.Here is another example of a crisis trigger: Novo Nordisk's share price peaked a good two years ago. Now it is almost down to a quarter of the peak price. (Peak price 1028 ul. June, bottom price 228 ul. March 26.) USA's 10 largest companies in March 2022 cost on average a good 1200 billion $. In September this year, the same companies' average market value was over 3,000 billion $. That is quite a fierce "modernization"! Especially NVDA (NVIDEA) and Alphabet (Google's parent company) had risen. Only UNH's (UnitedHealth Group) market value had fallen. A graph with the market values at the two points in time on separate axes shows significant dispersion. Given that US stocks are being diluted (which the enthusiastic owners might realize at some point), prices might go the same way as Novo Nordisk's.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä |
|---|---|---|
| 49 | ||
| 100 | ||
| 100 | ||
| 18 | ||
| 75 |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastoja ja ETF:iä jotka omistavat osaketta
Asiakkaat katsoivat myös
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q4 - tulosraportti 2.2.2027 |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q3 - tulosraportti 28.10. | ||
2026 Q2 - tulosraportti 19.8. | ||
2026 Q1 - tulosraportti 6.5. | ||
2025 Q4 - tulosraportti 5.2. | ||
2025 Q3 - tulosraportti 29.10.2025 |
Tuotteita joiden kohde-etuutena tämä arvopaperi
Välittäjätilasto
Ostaneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 22 235 | 22 235 | 0 | 0 |
Myyneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 22 235 | 22 235 | 0 | 0 |
2026 Q3 - tulosraportti
UUTTA
6 päivää sitten
‧30 min
Tämän sivun uutiset ja/tai sijoitussuositukset tai otteet niistä sekä niihin liittyvät linkit ovat mainitun tahon tuottamia ja toimittamia. Nordnet ei ole osallistunut materiaalin laatimiseen, eikä ole tarkistanut sen sisältöä tai tehnyt sisältöön muutoksia. Lue lisää sijoitussuosituksista.
Yhtiötapahtumat
Datan lähde: Quartr| Seuraava tapahtuma | |
|---|---|
2026 Q4 - tulosraportti 2.2.2027 |
| Menneet tapahtumat | ||
|---|---|---|
2026 Q3 - tulosraportti 28.10. | ||
2026 Q2 - tulosraportti 19.8. | ||
2026 Q1 - tulosraportti 6.5. | ||
2025 Q4 - tulosraportti 5.2. | ||
2025 Q3 - tulosraportti 29.10.2025 |
Tuotteita joiden kohde-etuutena tämä arvopaperi
25,00 DKK/osake
Viimeisin osinko
2,32%Tuotto/v
Foorumi
Liity keskusteluun Nordnet Socialissa
- ·2 päivää sittenQ3 BANK REPORTS – WHAT TRENDS CAN BE SPOTTED? This is neither a recommendation nor a complete analysis – rather just some observations based on the published Q3 bank reports for Danske Bank, Nordea, Jyske Bank and Skjern Bank. These observations are made at a time when tech stocks are falling sharply – and the doom prophets have started to show up. I may well have an opinion on this dimension, but it is no more qualified than your own, so the below is solely based on the Q3 reports for the mentioned banks. Despite all market participants emphasizing the fierce competition among banks at the moment (and I have no basis to doubt this), it surprisingly appears that net interest income has bottomed out for this time. Danske Bank's net interest income is all-time high, Skjern Bank has historically only had one quarter that was better (Q4 2023), while the turnaround is also clear at Jyske Bank. Nordea's development is lagging slightly behind, but the turnaround has happened. With continued rising lending (though stagnating at Jyske Bank), it must be expected that the coming quarters will be quite favorable for us bank investors on the top line of the income statement. The interest rate hike that has already taken place is expected to start hitting harder in the coming time. Note, by the way, that the analysis published by Danske Bank last Thursday on SJF Bank (which prompted a nice increase for SJF Bank) has an embedded estimate with an increase in net interest income of 23.7% from 2026 to 2027. We cannot, of course, use individual analyses to draw conclusions about the entire industry – but I believe there is consensus on higher top lines. Here it is worth noting a single circumstance: while high interest rates are intuitively favorable for the result, the movement from low interest rates to high interest rates comes at a cost in the banks' income statement. The banks' fair value adjustment of interest-bearing assets thus counts heavily downwards in a quarter where interest rates have been rising. For Jyske Bank, fair value adjustments have "cost" approx. 300 million DKK on the result in Q3 2026 compared to Q2 2026 or Q3 2025. This is therefore not an immaterial circumstance when the total profit of 1,727 million DKK for Q3 is evaluated. Even though the value adjustment is real enough, it is one of the factors that I would like to have normalized in my calculations of expected future earnings. As you may know, one of my favorite subjects is management judgment ("post-model adjustments"), which the managements of the Danish banks have approached completely differently – and not surprisingly, as the concept in itself is vague. It is the dummy variable that managements have to adjust for Corona, Ukraine, agricultural packages or... As an analyst (and auditor) and investor, it is frustrating that this opportunity is given without us getting further insight into how the amount is determined. Furthermore, we typically really have to scrutinize the reports to get the figure established. Currently, for example, Jyske Bank has provisioned an additional 119 million DKK for losses in "post-model adjustments" with the justification "reflecting among other things, risks involved in the expected economic development". This is not an accusation against Jyske Bank, as they are neither worse nor better than the other banks, but it is once again clear that management judgment is a black box for us investors and owners. However, in my attempt to deduce a normalized earnings for Jyske Bank, I can conclude once again that I must adjust for the 119 million DKK in Q3. So when I adjust for the fair value adjustments and the increased loss provisioning due to management judgment, I will actually be almost disappointed if the profit before tax in Q4 does not exceed 2 billion DKK. "All other things being equal" (and I know this is a massive assumption in a changing world), I look forward with confidence to the coming quarters as a bank investor.
- ·28.10.Q3 profit of 1.28 bn kr. (-12 %), pressed by lower market value adjustments and higher costs. Core earnings are growing and net interest and fee income rise to 3.04 bn kr. from 2.88 bn kr. Significant lending growth. Bank lending rises 37 % to 143 bn kr., while mortgage lending grows to 383 bn kr. Upward adjustment maintained and JB expects annual profit of 4.7–5.2 bn kr. against 5.4 bn kr. in 2025. Formuepleje acquisition must strengthen the position among affluent clients, but client outflows of 625 mio. kr. present an integration risk. I see a solid bank, but not necessarily an obvious buying opportunity after this year's price increase of 25.5 %. The core business is growing, but earnings are falling, and costs are rising. The crucial factor now is whether the lending growth can be translated into higher earnings per share and better return on capital. Source: Børsen, Mathias Hagemann-Nielsen, 28 October 2026.
- ·27.10.Credit Suisse collapsed in March 2023. Its balance sheet (= assets = liabilities) was larger than Danske Bank's. The bank was too big to fail; it was considered what we in Denmark call a SIFI bank, like e.g. Jyske Bank. Therefore, the Swiss central bank provided a loan, and the larger Swiss bank UBS took it over. Shareholders in Credit Suisse suffered heavy losses. Hopefully, it won't go that badly for Jyske Bank's shareholders. But if it continues its course towards more of a private banking profile, it is probably not wise for small shareholders to put their money at stake in the bank's modest actual core capital (equity that may be included in the capital base).
- ·15.10.Here is another example of a crisis trigger: Novo Nordisk's share price peaked a good two years ago. Now it is almost down to a quarter of the peak price. (Peak price 1028 ul. June, bottom price 228 ul. March 26.) USA's 10 largest companies in March 2022 cost on average a good 1200 billion $. In September this year, the same companies' average market value was over 3,000 billion $. That is quite a fierce "modernization"! Especially NVDA (NVIDEA) and Alphabet (Google's parent company) had risen. Only UNH's (UnitedHealth Group) market value had fallen. A graph with the market values at the two points in time on separate axes shows significant dispersion. Given that US stocks are being diluted (which the enthusiastic owners might realize at some point), prices might go the same way as Novo Nordisk's.
Yllä olevat kommentit ovat peräisin Nordnetin sosiaalisen verkoston Nordnet Socialin käyttäjiltä, eikä niitä ole muokattu eikä Nordnet ole tarkastanut niitä etukäteen. Ne eivät tarkoita, että Nordnet tarjoaisi sijoitusneuvoja tai sijoitussuosituksia. Nordnet ei ota vastuuta kommenteista.
Tarjoustasot
Määrä
Osto
-
Myynti
Määrä
-
Viimeisimmät kaupat
| Aika | Hinta | Määrä |
|---|---|---|
| 49 | ||
| 100 | ||
| 100 | ||
| 18 | ||
| 75 |
Huomioi, että vaikka osakkeisiin säästäminen on pitkällä aikavälillä tuottanut hyvin, tulevasta tuotosta ei ole takeita. On olemassa riski, että et saa sijoittamiasi varoja takaisin.
Rahastoja ja ETF:iä jotka omistavat osaketta
Asiakkaat katsoivat myös
Välittäjätilasto
Ostaneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 22 235 | 22 235 | 0 | 0 |
Myyneet eniten
| Välittäjä | Ostettu | Myyty | Netto | Sisäinen |
|---|---|---|---|---|
| Anonyymi | 22 235 | 22 235 | 0 | 0 |