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From 1851 a number of mortgage associations were established in Denmark of which 16 merged in 1972 into Forenede Kreditforeninger and Jyllands Kreditforening, respectively.

Nykredit since 1985
Nykredit was formed in 1985 by a merger between Forenede Kreditforeninger and Jyllands Kreditforening and operated strictly as a wholesale business distributing mortgage loans through banks until 1989. In 1989 the mortgage sector was deregulated to the effect that ordinary banks were allowed to set up mortgage banks and mortgage associations were allowed to convert into limited liability companies.

Banking, insurance, pension and estate agency business
The deregulation signalled the beginning of extensive changes in Nykredit, which expanded its business activities in the years that followed to include banking, insurance, pension and estate agency business, just as the Group built a national, multi-channel distribution network.

Acquisition of Totalkredit
With the acquisition of Totalkredit in 2003, Nykredit became the largest mortgage bank in Denmark with a total market share of the bond debt outstanding of 42.6% (2011).

Acquisition of Forstædernes Bank
In 2008 Nykredit bought Forstædernes Bank and it has been merged with Nykredit Bank. Nykredit's market share within banking is 5.2% (2011).

Cooperation with regional and local banks
Nykredit and a number of regional and local banks have set up several small jointly-owned companies which contribute to strengthening the strategic partnership and the participants' competitive stance in the financial market.

CSR Publication 2016



Nykredit's organisation is based on the four group units; Customers, Products, Opera- tions and Support.

The Danish mortgage model

Get the Association of Danish Mortgage Banks description of the Danish mortgage system.