Stock exchange announcement number 11 – 2006
Pre-tax profit of DKr1,345m for the first half of 2006
Realkredit Danmark today published its report for the first half of 2006. Highlights are shown below:
- The Realkredit Danmark Group recorded a pre-tax profit of DKr1,345m for the first half of 2006, against DKr1,695m for the first half 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 DKr1,876m, against DKr2,246m in the first half of 2005.
- In the first half of 2006, the outstanding nominal bond debt rose by DKr23bn to DKr586bn.
- The Group’s market share of net new lending rose to 31.1% in the first half of 2006 from 27.5% in 2005. The market share of the loan portfolio was 33.0% at June 30, 2006, against 33.4% at the end of 2005.
- For 2006, the pre-tax profit is still expected to be at around the same level as in 2005.
Sven Holm, Chairman of the Executive Board says: “In the first half of 2006, net new lending was significantly larger than in the first half of 2005 in spite of the generally lower level of activity in the mortgage credit market. This reflects a considerable sale of new loans to both existing and new customers.”
Interim Report 2006
Contact: Sven Holm, Chairman of the Executive Board and Chief Executive Officer,
tel. + 45 33 39 30 11