Stock exchange announcement number 7 – 2006
Pre-tax profit of DKr602m for the first quarter of 2006
Realkredit Danmark today published its report for the first quarter of 2006. Highlights are shown below:
- The Realkredit Danmark Group recorded a pre-tax profit of DKr602m, against DKr850m for the first quarter of 2005. The development in results reflects in particular lower net trading income owing to rising interest rates. In addition, the refinancing level was more restrained.
- Income totalled DKr894m, against DKr1,107m in the first quarter of 2005.
- In the first quarter of 2006, the outstanding nominal bond debt rose by DKr9bn to DKr572bn.
- The market share of net new lending rose to 30.3% for the first quarter of 2006 from 27.5% in 2005. The market share of gross lending was 29.5%, which is the same level as in 2005. The market share of the loan portfolio was 33.1% at the end of the first quarter of 2006, against 33.4% at end-2005.
- For 2006, the profit before tax is still expected to be at around the same level as for 2005.
Sven Holm, Chairman of the Executive Board says: “During the past six months, we have worked intensively to sharpen our customer focus and to give our customers an even better experience, and it is a pleasure to see that the upward trend in our market share of net new lending in 2005 continued in the first quarter of 2006.”
Quarterly Report – First Quarter of 2006
Contact: Sven Holm, Chairman of the Executive Board and Chief Executive Officer,
tel. + 45 33 39 30 11