Realkredit Danmark reports net profit of DKr2,133m for the first nine months of 2009

Realkredit Danmark today published its report for the first nine months of 2009.
Highlights are shown below:

• The Realkredit Danmark Group recorded a net profit of DKr2,133m in the first nine months of 2009, against DKr2,154m in the first nine months of 2008. The financial performance is satisfactory and as expected.
• Gross lending amounted to DKr86bn in the period, against DKr83bn in the year-earlier period.
• Loan impairment charges amounted to DKr944m in the first nine months of 2009, against DKr42m in the first nine months of 2008. In the third quarter of 2009, loan impairment charges amounted to DKr300m – or slightly less than in the preceding quarters.
• Delinquencies as a percentage of payments continued to rise, although the third quarter saw a slowing trend. The 3-month delinquency rate stood at 0.69% at September 30, against 0.66% at June 30 and 0.28% at January 1.
• At September 30, 2009, the solvency ratio was 48.8%.
• The financial performance for 2009 as a whole will depend on macroeconomic trends and developments in the capital markets. The level of loan impairment charges is expected to remain high in the fourth quarter.