Q1 Interim Report 2017 - Nykredit Bank A/S

INTERIM REPORT FOR THE PERIOD 1 JANUARY - 31 MARCH 2017

• Profit from core business was DKK 833m compared with DKK 286m in Q1/2016, equivalent to a return on equity of 19.4% pa against 7.2% in Q1/2016.
• Compared with end-2016, lending increased by DKK 1.3bn, or 2.3%, while deposits grew by DKK 1.8bn, or 2.7%.   
• Core income from business operations totalled DKK 1,246m, up 67.9% on Q1/2016.
• Operating costs and depreciation of equipment were DKK 470m against DKK 475m in Q1/2016.
• Impairment losses on loans and advances equalled a gain of DKK 55m against a gain of DKK 16m in Q1/2016. Impairment losses were negative 0.1% of loans and advances against 0.0% in Q1/2016.
• Legacy derivatives produced a gain of DKK 337m against a charge of DKK 741m in Q1/2016. This category consists of derivatives that are no longer offered to Nykredit's customers.
• Profit after tax for the period came to DKK 940m against a loss of DKK 357m in Q1/2016, equivalent to a return on equity of 21.8% pa compared with a negative return on equity of 9.0% in Q1/2016.

LIQUIDITY

• The Bank's liquidity coverage ratio (LCR), determined according to the LCR rules, came to 134% against 153% at end-2016. Deposits exceeded lending by DKK 11.8bn compared with DKK 11.3bn at end-2016.

 CAPITAL

• Equity stood at DKK 17.7bn compared with DKK 16.7bn at end-2016.

• The Common Equity Tier 1 (CET1) capital ratio was 16.3% against 14.8% at end-2016. The total capital ratio was 18.4% against 16.6% at end-2016, and the internal capital adequacy requirement came to 10.8% compared with 10.7% at end-2016.

 ABOUT NYKREDIT BANK GROUP

• The Q1 Interim Reports 2017 of the Nykredit Bank Group and the Nykredit Group and further information about Nykredit are available at nykredit.com.

Contact

For further comments, please contact Nykredit Press Relations at tel +45 44 55 14 50.

Vedhæftede filer:

Nykredit Bank Group - Q1 Interim Report 2017 - 09052017.pdf