Realkredit Danmark reports net profit of DKK 3,270 million for the first nine months of 2017
Realkredit Danmark today published its report for the first nine months of 2017.
Carsten Nøddebo, CEO, says:
“The result is satisfactory and reflects an increase in lending. In September, we launched a brand new type of mortgage loan, FlexLife®, and we have since seen keen interest from customers across the country. Many customers are attracted to the option of increasing or lowering payments throughout the term of the loan. This flexibility means that customers can choose to adjust loan payments to match their life situation as well as possible.”
Highlights are shown below:
- The Realkredit Danmark Group recorded a profit of DKK 3,270 million in the first nine months of 2017, against DKK 2,985 million in the first nine months of 2016. The profit for the first nine months of 2017 was supported by an increase in the loan portfolio that led to rising administration margin income.
- Total income rose 5 % over income in the first nine months of 2016.
- Expenses fell to DKK 544 million from DKK 583 million in the first nine months of 2016. The fall was partly attributable to lower IT costs.
- Impairments totalled DKK 93 million in the first nine months of 2017, against DKK 181 million in the first nine months of 2016, and thus remained at a low level.
- In mid-September, Realkredit Danmark launched a new mortgage loan product called FlexLife®. FlexLife® is far more flexible than other mortgage loans currently on the market. Many customers whose loans are up for refinancing have shown an interest in the product.
- In the first nine months of 2017, there was demand in particular for fixed-rate loans with a 2 % coupon and FlexLån® loans with refinancing intervals of 5 years or more.
- Realkredit Danmark still expects the profit for 2017 to be at the same level as in 2016.
Interim report for the first nine months 2017
Contact: Carsten Nøddebo, CEO, tel. +45 45 13 20 82.
This is a translation of a press release in the Danish language. In case of discrepancies, the Danish version prevails.