Financial results Q1-Q3 2024
8,958 Net profit (DKKm)
12.0% Return on equity after tax
“Nykredit and Spar Nord Bank already know each other well. We share a common history as sound and strong companies that are firmly anchored in Denmark and in the many local communities in which we are present. Also, we both have owners committed to long-term, sustainable and responsible thinking, which benefits our customers on a daily basis. Together, we will become Denmark’s customer-owned bank, offering even more customers the opportunity to experience the benefits this offers. Both Spar Nord Bank and Nykredit are growing in the banking market. Customers choose us, customer satisfaction levels are high and market shares are rising. By joining forces, we will obtain the scale in our business which is increasingly important in a market with increased regulation, growing digitalisation and pressure on prices. In addition, scale benefits enable us to stand strong in the market and continue our growth.
The Nykredit Group’s ‘Winning the Double’ strategy continues, because partnerships are a crucial part of our group strategy. Our partners can therefore expect us to further engage and invest in our important communities in Totalkredit, BEC, Sparinvest, nærpension and Privatsikring. Partnerships that ensure that we together stand stronger in the Danish financial market and in our interaction with customers.”
Michael Rasmussen
Group Chief Executive
The purpose of Nykredit Investor Relations is to create, build and develop valuable relations with new and existing investors and analysts. At Nykredit we strive to maintain our valuable relations through transparency and openness. On our website you will find relevant, accurate and reliable information on the Group's two issuing entities – Nykredit Realkredit and Nykredit Bank.
If you wish to arrange a meeting or have any questions, please write to us at investor_relations@nykredit.dk
If you need to contact Nykredit regarding our banking services for private customers please call +45 70 10 90 00
Nykredit's new Fossil Fuels Policy will put a stop to lending for activities that contribute to fossil fuel production. We are also divesting interests in more than 60 oil, gas and coal companies and excluding 483 companies from our investment universe.
In April 2023, Nykredit updated its Green Bond Framework to further align with the EU Taxonomy. Nykredit has pledged to support the green transition and has committed to achieving net zero greenhouse gas emissions from our lending, investments and own operations by 2050 at the latest. We finance the green transition through mortgage lending and banking operations. Our Green Bond Framework defines the loans and investments eligible to be funded by the proceeds from green bonds issued by Nykredit.
The Green Bond Framework 2023 includes a range of new use of proceeds categories and is widely aligned with the Technical Screening Criteria of the EU Taxonomy. Sustainalytics is of the opinion that the Green Bond Framework 2023 is credible and impactful and aligns with ICMA’s Green Bond Principles 2021.
The publication of the Green Bond Framework 2023 implies changed criteria for green financing. Consequences for loans funded by the existing green covered bonds under the Green Bond Framework 2020 are outlined in the Green Bond Investor Presentation.
8,958 Net profit (DKKm)
12.0% Return on equity after tax
"Today, we present Nykredit's strongest financial results ever recorded for the first nine months of a year. At the same time, we raise our full-year guidance to a profit after tax of DKK 11.00-11.75 billion. This means that we expect profit for 2024 to exceed profit for 2023, which was Nykredit's best year so far.
Our good performance is chiefly driven by continued growth and increasing market shares across the board. Over the year, Nykredit Bank has grown its lending volumes to personal and business customers alike, and the Group has increased its mortgage lending to homeowners and business customers. Furthermore, Wealth Management's assets under management have increased. Our performance also reflects the sound financial health of our customers, leading to a reversal of impairment charges for the period. Moreover, we have managed to maintain a relatively steady cost/income ratio."
Michael Rasmussen
Group Chief Executive
Nykredit is a financial mutual, governed by our customers, founded by our customers and operating for our customers.
The Group is the leading mortgage lender to Danish homeowners, businesses and agriculture. The mortgages are offered though a diversified, multi-channel distributions approach built around a group of partner banks and direct own distribution channels.
Nykredit Markets offers capital markets services with a focus on fixed income products, debt capital markets and other services to domestic and international customers
As Denmark's largest credit provider with contact to more than 1 million customers, our financial strength is of great significance to Denmark. That in itself involves social responsibility, which we take seriously.
Cash flows (CK94) - Nykredit Realkredit A/S
Prepayments (CK93) - Nykredit Realkredit A/S
XML Ekstraordinære indfrielser (CK93) / Prepayments (CK93) - Nykredit Realkredit A/S
XML Ydelsesrækker (CK94) / Cash flows (CK94) - Nykredit Realkredit A/S
Fixing of coupon rates - Nykredit Realkredit A/S
Fixing of coupon rates - Nykredit Realkredit A/S
Prepayments (CK93) - Nykredit Realkredit
Fixing of coupon rates - Nykredit Realkredit A/S
If you would like more information about Nykredit's activities, please contact us at Investor Relations.
If you need to contact Nykredit regarding our banking services for private customers please call +45 70 10 90 00 or send a mail to kundeservice@nykredit.dk