NYKREDIT BANK A/S – a subsidiary of Nykredit Realkredit A/S consolidated in the Nykredit Group's
Financial Statements
1 January 2012 – 30 June 2012
- Profit before tax came to DKK 302m, down DKK 143m on H1/2011
- Income from business operations climbed 8% to DKK 1,824m
- Value adjustment of derivatives and corporate bonds was a charge of DKK 438m against a credit of DKK 11m in H1/2011
- Operating costs rose by DKK 31m to DKK 918m owing in part to the establishment of the branch in Stockholm and IT costs relating to a new banking platform
- Impairment losses on loans and advances were DKK 248m, equal to 0.2% in H1/2012
- Special payments to the Danish Guarantee Fund for Depositors and Investors amounted to DKK 3m in H1/2012 against DKK 85m in H1/2011
- The investment portfolio generated an income of DKK 39m against a loss of DKK 161m in H1/2011
- Costs as a percentage of core income from business operations totalled 50.5% compared with 57.6% in H1/2011
- Profit before tax generated a return on equity of 4.2% pa against 8.7% pa for H1/2011
- The Bank has no exposures to sovereign debt issued by GIISP countries.
Fitch Ratings has assigned an issuer rating of A/F1 to Nykredit Bank.
LIQUIDITY
- Excess cover relative to statutory liquidity requirements was 153% against 176% at end-2011.
CAPITAL
- The total capital ratio and the Tier 1 capital ratio both came to 19.8%
- The core Tier 1 capital ratio was 19.5%.
Information about the Nykredit Bank Group
The H1 Interim Reports 2012 of the Nykredit Bank Group and the Nykredit Group and further information about Nykredit are available at nykredit.com.
Contacts
Karsten Knudsen, Chairman – tel +45 44 55 19 04
Bjørn Mortensen, Managing Director – tel +45 44 55 18 95
