The Nykredit Realkredit Group
Selected financial information
|Core income from business operations||10,200||9,188||11|
|Operating costs, depreciation and amortisation||5,776||5,709||1|
|Core earnings before impairment losses||3,375||3,035||11|
|Impairment losses on loans and advances||2,149||1,414||52|
|Core earnings after impairment losses||1,226||1,621||-24|
|Investment portfolio income||2,444||179||-|
|Profit before tax||3,205||1,338||140|
|Core Tier 1 capital ratio, %||15.8||13.9|
Peter Engberg Jensen, Group Chief Executive, commented:
Nykredit's profit before tax of DKK 3.2bn reflects a stable and robust performance with higher income from business activities and not least high investment portfolio income. 2012 cost levels were stable and losses as expected. However, overall results were affected by the Danish economy which was characterised by low interest rates and growth.
In order to meet the significant demands for higher capital levels in the financial sector, total earnings must be continuously increased in coming years. The need for higher earnings will rise further if Nykredit is to continue recent years' lending growth. Nykredit has increased lending by DKK 160bn, equal to 4% a year, since 2008, whereas aggregate lending in the rest of the Danish financial sector has declined by DKK 250bn in the same period.
Peter Engberg Jensen, Group Chief Executive, or Nels Petersen, Head of Corporate Communications, tel +45 44 55 14 70 or +45 20 22 22 72
Nykredit Realkredit A/S
Nykredit Realkredit A/S Logo