New strategy to strengthen growth in Nykredit

•	Two-legged strategy: commercial and mortgage banking
•	Forstædernes Bank merged into Nykredit Bank
•	New customer-oriented organisation
•	Management changes to the Group Executive Board

Nykredit has adopted a new strategy and organisation, Strategy 2013, paving the
way for significant business development and growth over the next 4-5 years. 

Our strategy and organisation will be based on a common foundation, "One new
Nykredit". A new unified organisation will further develop the current group
strategy with commercial and mortgage banking as cornerstones. 

- We have undergone an intense development in recent years. Both within
mortgage banking, evidenced by Totalkredit as a great success, and within
commercial banking areas such as retail banking, corporate banking and Markets
& Asset Management. With the acquisition of Forstæder¬nes Bank, we have
obtained a size as a financial services group that calls for strategic and
organisational adjustment to match our current position in the Danish market,
says Peter Engberg Jensen, Group Chief Executive. 

The mortgage lending activities based on Nykredit and Totalkredit as the
Group's two strong brands will continue to be a key element of the two-legged
strategy. The areas will be further developed, but growth will chiefly be
generated in the commercial banking area. 

- To run a large mortgage bank profitably, a significant commercial banking
presence is essential. Mortgage and commercial banking products are
inextricably interlinked today. The Nykredit Group's income from banking
activities now accounts for 42% of the Group's revenue. Sound commercial
banking activities are a prerequisite for sound mortgage lending activities and
for growing overall group earnings, says Peter Engberg Jensen.