Equity base strengthens, quality of loan portfolio improves and operating costs decrease
The Housing Financing Fund´s Consolidated Interim Financial Statements for the first half of the year 2015 were approved by the Fund´s Board of Directors today. The Housing Financing Fund´s Consolidated Interim Financial Statements are comprised of the financial statements of the Housing Financing Fund and its subsidiary, Leigufélagið Klettur ehf. The Fund´s results are above expectations, with operating loss amounting to ISK 808 million compared to a loss of ISK 1,308 million for the same period in the previous year.
The Fund´s equity ratio has risen to 4.8% compared to 4.5% in the beginning of the year. The equity ratio is calculated in the same manner as the equity ratio of financial institutions. The long term objective of the Fund is to maintain a ratio above 5.0%. The Fund´s equity amounted to ISK 17,279 million compared to ISK 18,087 million at the end of 2014.
