Profit after tax of DKr2,154m for the first nine months of 2008

Realkredit Danmark today published its report for the first nine months of 2008. Highlights are shown below:

• The Realkredit Danmark Group’s profit after tax for the first nine months of 2008 rose 18% to DKr2,154m, against DKr1,830m for same period of 2007. The increase was partly the result of a higher administration margin – caused by an increase in the volume of lending – and higher net trading income.
• Total income rose 9% to DKr3,653m from DKr3,340m in the first nine months of 2007.
• Relative to the end of September2007, the outstanding nominal bond debt has increased by 6% to DKr676bn.
• Loan impairment charges amounted to DKr42m for the first nine months of 2008, against DKr11m for the same period of 2007 and are still at a moderate level.
• The 3-month delinquency rate was 0.20% after the third quarter of 2008, against 0.14% at the beginning of the year.
• At September 30, 2008, the solvency ratio was 62.2%.
• At an unchanged level of interest rates, the pre-tax profit for the full year 2008 is still likely to be 4-9% higher than in 2007.