Realkredit Danmark published its interim report for the first half of 2012
Net profit of DKK 1,121 million for the first half of 2012 Realkredit Danmark today published its interim report for the first half of 2012.
Highlights are shown below: The Realkredit Danmark Group recorded a net profit of DKK 1,121 million in the first half of 2012, against DKK 681 million in the first half of 2011.
Total income amounted to DKK 2,609 million, up 39% from DKK 1,871 million in the first half of 2011.
Expenses were down 7%.
Impairment charges totalled DKK 658 million in the first half of 2012, against DKK 476 million a year earlier, reflecting higher charges for personal customers and small and medium-sized businesses.
The charges equalled 0.
18% p.
a.
of total mortgage lending, against 0.
15% p.
a.
in 2011.
The delinquency rate, calculated as the proportion of due payments remaining unpaid 3½ months after the last due payment date, was largely unchanged.
It stood at 0.
47% at the end of the first half of 2012, against 0.
46% at the end of 2011.
The strong Danish mortgage credit system ensures that Realkredit Danmark can continue to offer very attractive loan terms.
The total capital ratio calculated in accordance with the Capital Requirements Directive was 36.
3%, against 35.
8% at the end of 2011.
In May 2012, Realkredit Danmark repaid the state hybrid capital of DKK 2 billion.
Because of a need to increase its capital buffer, Realkredit Danmark issued senior debt for DKK 20 billion.
The issue was well received in the market.
In June 2012, Fitch Ratings announced a AAA rating of mortgage-covered bonds issued from capital centres S and T.
As stated in Annual Report 2011, Realkredit Danmark overall expects a higher profit in 2012 than in 2011.
Interim report for the first half of 2012 Carsten Nøddebo, CEO, says: “We see indications of improvement in prices in the housing market.
In the second quarter of the year, house prices were relatively stable.
In addition, remortgaging activity is good.
Fixed-rate loans have become more popular after the introduction of loans with coupons of 3.
5% and 3%.
More homeowners are also taking the opportunity to fix their borrowing rate at a low level for the next 20 or 30 years.
” Contact: Carsten Nøddebo, Chief Executive Officer, tel.
+45 45 13 20 82.