Financial reporting

"Nykredit today presented a profit after tax of DKK 3,544 million, marking our best quarter ever. And this is naturally highly satisfactory. Our good performance was chiefly driven by business and customer growth across the board, even despite the low housing market activity this quarter. Together with our Totalkredit partner banks, we are consequently well placed to support our customers and foster development and growth all over Denmark.

Our quarterly results reflected the solid credit quality of our customers, which prompted a minor reversal of impairment charges for the period. At the same time, financial market conditions in particular had a positive impact on the Group's investment portfolio income. In addition, our cost level was unchanged. As mortgage lending makes up a larger part than banking of Nykredit's business model "

Michael Rasmussen
Group Chief Executive