1 January – 31 March 2011
Q1 – In Brief
- Core earnings before impairment losses were DKK 245m compared with DKK 265m in Q1/2010
- Operating costs decreased by DKK 15m to DKK 97m
- Impairment losses on loans and advances were DKK 50m against an income of DKK 20m in the same period in 2010
- Investment portfolio income was DKK 8m against DKK 103m in Q1/2010
- Profit before tax came to DKK 203m against DKK 388m in Q1/2010
- Lending activity for the sector as a whole dropped sharply compared with the same quarter in 2010 – Totalkredit thus witnessed a heavy decline but strengthened its market share of Danish residential mortgage lending to 33.3%
- At end-Q1/2010, the loan portfolio totalled DKK 459bn against DKK 455bn at the beginning of the year.
Contacts:
Søren Holm, Group Managing Director, Nykredit, tel +45 44 55 10 10
Troels Bülow-Olsen, Managing Director, Totalkredit, tel +45 44 55 54 00
