The Mortgage Society of Finland: Hypo Group's January- September 202428.10.2024 13:15:00 EET | Suomen Hypoteekkiyhdistys |
Interim report (Q1 and Q3)
The Mortgage Society of Finland: Hypo Group’s January– September 2024
The Mortgage Society of Finland
Interim Report Q3
Helsinki 28 October 2024 1:15 p.m.
Hypo Group’s January–September 2024
The home finance specialist Hypo Group’s operations and liquidity remained stable
CEO Ari Pauna:
“Focusing on low-risk housing collateralized lending in urbanising Finland still provides stability despite the continuous uncertainty in operating environment. Net interest income, capital adequacy and liquidity remained strong. Non-performing loans and impairment losses remained at low level. During uncertain times, the services of a specialist organization are in demand. There is a strong demand for home financing from us and we respond to the demand comprehensively supported by completely renewed banking technology.”
- Operating profit was EUR 5.2 million (EUR 7.3 million 1–9/2023)
- Net interest income was EUR 12.2 million (EUR 13.2 million 1–9/2023)
- Non-performing loans remained low at 0.33% of loan book (0.19% 31 December 2023)
- Expected credit losses were 0.01% of the loan book (0.01% 31 December 2023)
- Net fee and commission income increased to EUR 4.2 million (EUR 3.5 million 1–9/2023)
- Other income was EUR 1.0 million (EUR 2.7 million 1–9/2023)
- Total costs were EUR 12.2 million (EUR 12.0 million 1–9/2023)
- Common Equity Tier 1 (CET1) ratio, calculated with the standardized approach and the
basic indicator approach, was 14.0% (14.2% on 31 December 2023)
- Liquidity Coverage Ratio (LCR) was 227.7% (326.4% on 31 December 2023)
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GROUP'S KEY FIGURES
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(1000 €)
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1-9/2024
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1-9/2023
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7-9/2024
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7-9/2023
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1-12/2023
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Net interest income
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12,248
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13,197
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4,577
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5,235
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18,204
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Net fee and commission income
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4,158
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3,525
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1,244
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1,015
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4,697
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Total other income
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990
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2,665
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-204
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-516
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2,106
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Total expenses
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-12,215
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-12,039
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-3,619
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-3,836
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-16,504
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Operating profit
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5,181
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7,347
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1,978
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1,899
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8,503
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Receivables from the public and public sector entities
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2,832,560
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2,832,974
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2,832,560
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2,832,974
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2,785,973
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Deposits
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1,613,255
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1,514,540
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1,613,255
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1,514,540
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1,562,999
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Balance sheet total
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3,552,014
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3,534,171
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3,552,014
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3,534,171
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3,619,094
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Return on equity (ROE) %
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3.6
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5.2
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4.2
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4.0
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4.5
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Common Equity Tier 1 (CET1) ratio %
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14.0
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14.0
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14.0
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14.0
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14.2
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Cost-to-income ratio %
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70.0
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61.4
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64.8
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66.1
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65.5
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Non-performing assets % of the loan portfolio
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0.33
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0.15
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0.33
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0.15
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0.19
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LTV-ratio (Loan to Value, average) %
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30.7
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30.2
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30.7
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30.2
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30.3
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Loans / deposits %
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175.6
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187.1
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175.6
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187.1
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178.2
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Liquidity Coverage Ratio (LCR) %
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227.7
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209.2
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227.7
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209.2
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326.4
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Net Stable Funding Ratio (NSFR) %
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115.7
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113.3
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115.7
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113.3
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112.0
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Leverage Ratio (LR) %
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4.2
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3.9
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4.2
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3.9
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3.9
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Hypo Group's Interim Report can be accessed at https://www.hypo.fi/en/hypo-financial-information/
Distribution: Nasdaq Helsinki Ltd, Main Media, www.hypo.fi
Contacts
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Ari Pauna, CEO, +358 50 353 4690
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Mikke Pietilä, CFO, +358 50 439 6820
About Suomen Hypoteekkiyhdistys
The Mortgage Society of Finland Group is the only nationwide expert organization specialized in home financing and housing in Finland. Hypo Group grants mortgages as well as renovation loans and consumer loans, both secured by residential property collateral, for first-time and other homebuyers. Hypo Group continuously develops new ways and models for housing and home financing.
Read more: www.hypo.fi
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