Net profit of DKK 1,121 million for the first half of 2012

 | Source: Realkredit Danmark A/S Realkredit Danmark A/S

Copenhagen, 2012-08-07 08:01 CEST (GLOBE NEWSWIRE) --  

Realkredit Danmark today published its interim report for the first half of 2012. The report is available at www.rd.dk. Highlights are shown below:
 

  • The Realkredit Danmark Group recorded a net profit of DKK 1,121 million in the first half of 2012, against DKK 681 million in the first half of 2011.
    •  
  • Total income amounted to DKK 2,609 million, up 39% from DKK 1,871 million in the first half of 2011.
    •  
  • Expenses were down 7%.
    •  
  • Impairment charges totalled DKK 658 million in the first half of 2012, against DKK 476 million a year earlier, reflecting higher charges for personal customers and small and medium-sized businesses. The charges equalled 0.18% p.a. of total mortgage lending, against 0.15% p.a. in 2011.
    •  
  • The delinquency rate, calculated as the proportion of due payments remaining unpaid 3½ months after the last due payment date, was largely unchanged. It stood at 0.47% at the end of the first half of 2012, against 0.46% at the end of 2011.
     
  • The strong Danish mortgage credit system ensures that Realkredit Danmark can continue to offer very attractive loan terms.
    •  
  • The total capital ratio calculated in accordance with the Capital Requirements Directive was 36.3%, against 35.8% at the end of 2011.
    •  
  • In May 2012, Realkredit Danmark repaid the state hybrid capital of DKK 2 billion.
    •  
  • Because of a need to increase its capital buffer, Realkredit Danmark issued senior debt for DKK 20 billion. The issue was well received in the market.
    •  
  • In June 2012, Fitch Ratings announced a AAA rating of mortgage-covered bonds issued from capital centres S and T.
    •  
  • As stated in Annual Report 2011, Realkredit Danmark overall expects a higher profit in 2012 than in 2011.

 

Carsten Nøddebo, CEO, says:

“We see indications of improvement in prices in the housing market. In the second quarter of the year, house prices were relatively stable. In addition, remortgaging activity is good. Fixed-rate loans have become more popular after the introduction of loans with coupons of 3.5% and 3%. More homeowners are also taking the opportunity to fix their borrowing rate at a low level for the next 20 or 30 years.”
 

 

 

Contact:

Carsten Nøddebo, Chief Executive Officer, tel. +45 45 13 20 82.

 

This is a translation of a press release in the Danish language. In case of discrepancies, the Danish version prevails.

 

Attachments

GlobeNewswire

Recommended Reading