Skip to main content

Q1-Q3 Interim Report 2020 – Nykredit Realkredit Group

Written by Customer Service on . Posted in Public Companies.


Nykredit today announces Q1-Q3 Interim Reports 2020 of:
Nykredit A/S, CVR no 12 71 92 48
Nykredit Realkredit A/S, CVR no 12 71 92 80Michael Rasmussen, Group Chief Executive, comments on the Q1-Q3 Interim Report 2020:– The results presented today are highly satisfactory and exceed our expectations earlier this year. It appears that we must learn to live with covid-19 for some time to come, but until now the housing market and large parts of the Danish business sector have steered well through the crisis. At the same time, we continue to record strong business growth.– Lending and customer satisfaction are on the rise, and both Nykredit Bank and Totalkredit are seeing customer growth. In particular, lending to business customers has increased considerably thanks to our continued commitment to supporting Danish business and industry.– We are welcoming new customers from urban as well as rural districts. This year Totalkredit has recorded lending growth in all 98 municipalities across the country. This illustrates that Nykredit together with its partner banks in the Totalkredit alliance is a lender to homeowners and business all over Denmark, including the more sparsely populated areas.– Backed by a three-digit million amount from Nykredit’s majority shareholder, Forenet Kredit, both Nykredit Bank and Totalkredit have recently launched new initiatives, which will make it easier and more affordable for our customers to make green choices. Especially our green car loan, which makes it much cheaper to finance an eco-friendly car, got a great reception from our customers. Since our launch a month ago, every third car loan granted by Nykredit Bank has been for an electric car or plug-in hybrid car. Before the launch – for the first nine months of the year – this was true for only every eight car loan. Highlights from the Q1-Q3 Interim Report 2020:Business profit and profit before tax for Q1-Q3/2020 were DKK 3,970 million and DKK 4,020 million, respectively, which is satisfactory and shows good momentum in the underlying business as demonstrated by increased net interest and wealth management income. Recent years’ strong inflow of customers continued in the first three quarters of 2020 with customer and lending growth in bank as well as mortgage lending.Thanks to underlying business growth and the prospect of lower-than-expected impairment charges, we raised our guidance for business profit and profit before tax for 2020 from DKK 4.0-5.0 billion to DKK 5.5-6.0 billion on 15 October. In addition, the positive tone in financial markets also favourably impacted our investment portfolio income and derivatives portfolios. Our guidance is subject to higher-than-usual uncertainty as a result of covid-19.Totalkredit’s lending at nominal value has increased by 9% since 30 September 2019 to currently DKK 786.3 billion.Nykredit Bank’s lending* has grown by 11% since 30 September 2019 to currently DKK 77.3 billion.Assets under management have increased by DKK 5.5 billion (2%) since 30 September 2019 and totalled DKK 332.4 billion at 30 September 2020.Nykredit maintains a very strong capital position with a Common Equity Tier 1 (CET1) capital ratio of 19.3%.ContactFor further comments, please contact Nykredit Press Relations at tel +45 20 37 28 69.* Including secured homeowner loans transferred to Totalkredit
AttachmentNykredit_Realkredit_Group_Q3_20_2020-11-04_EN

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.