Nordea Kredit Realkreditaktieselskab today presented the attached Interim Report January-June 2021 with the following key points:
- Nordea Kredit continued to see high activity levels in the first half of 2021, particularly driven by properties with a change of ownership for household customers.
- Nordea Kredit continued to develop its sustainability offering and has as per end-June 2021 issued DKK 9bn in green mortgages for corporate customers.
- Nordea Kredit has continuously increased its market share within owner-occupied dwellings during the past five quarters.
- Lending volumes increased by 3% compared to the end of 2020 mainly driven by new lending to household customers. Lending volumes increased 4% compared to 30 June 2020. Net interest income was up by 3% and commission income improved by 8% compared to the first half of 2020 following high lending activity.
- Profit before tax amounted to DKK 751m and was largely unchanged compared to DKK 750m in the first half of 2020.
- Profit before impairment losses decreased to DKK 663m (DKK 1,150m in the first half of 2020) due to increased intragroup expenses related to sales and distribution services and first loss guarantees.
- Impairment losses were positive by DKK 88m due to a low level of realised loan losses combined with a reversal of model-calculated provisions, reflecting the good credit quality of the loan portfolio. Management judgements related to the coronavirus pandemic were unchanged compared to the end of December 2020.
For further information:
Mikkel Nikolajsen, External Communication DK, +45 70 80 11 62
Nordea Kredit Realkreditaktieselskab
Helgeshøj Allé 33
PO Box 850
DK-0900 Copenhagen C
Nordea is a leading Nordic universal bank. We are helping our customers realise their dreams and aspirations – and we have done that for 200 years. We want to make a real difference for our customers and the communities where we operate – by being a strong and personal financial partner. The Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges. Read more about us on nordea.com.