Jyske Bank To Acquire Formuepleje; Maintains FY26 EPS Guidance

Denmark's Jyske Bank has reached a binding deal to purchase the entirety of FP Kapital A/S, known as Formuepleje, according to a company press release. Formuepleje handles around 40 billion Danish kroner in assets for approximately 14,000 clients and employs nearly 100 people. The firm primarily operates in and around the cities of Aarhus and Copenhagen.

The acquisition is anticipated to generate around 200 million kroner in annual net fees and commissions, and it will positively impact earnings per share from 2028 onwards. Integration expenses for the deal are estimated at about 100 million kroner, while the net capital consumption is projected to be nearly 0.1% of Jyske Bank's risk-weighted exposure.

Jyske Bank's CEO, Lars Mørch, stated that the acquisition intends to leverage Formuepleje's advisory expertise, customer relationships, and staff skills. The transaction will allow Formuepleje to benefit from Jyske Bank's scale, platform, and expertise in capital and wealth management. Additionally, the deal will enable Jyske Bank to expand its product offerings in selected alternative investments, such as real estate and private equity.

Formuepleje's customers will gain access to Jyske Bank's comprehensive product and advisory services. Jyske Bank has maintained its 2026 earnings per share guidance of 71-85 kroner, which corresponds to a net profit after tax of 4.3-5.1 billion kroner. The agreement's completion is contingent upon customary conditions, including obtaining necessary regulatory approvals, and is expected to be finalized during the fourth quarter of 2026.