Totalkredit A/S
(1 January – 30 June 2011)
H1 – in brief
- Totalkredit's market share of Danish private residential mortgage lending strengthened to 33.4% in H1/2011
- At nominal value, the loan portfolio totalled DKK 463bn against DKK 455bn at the beginning of the year
- Lending activity generally fell by about 52% across the sector compared with the same period last year – Totalkredit recorded an activity downturn of 48%, which had an adverse impact on core income from business operations
- Core earnings before impairment losses came to DKK 489m against DKK 519m in H1/2010
- Operating costs fell by DKK 37m to DKK 186m compared with H1/2010
- Impairment losses on loans and advances amounted to DKK 139m, equal to 0.03% of lending
- Investment portfolio income was DKK 21m against DKK 177m in the same period the year before
- Profit before tax was DKK 371m against DKK 640m in H1/2010.
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
