Realkredit Danmark reports net profit of DKK 2,475 million for the first half of 2018
July 18 2018 - 2:00AM
Realkredit Danmark reports net profit of DKK 2,475 million for the
first half of 2018
Press release
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Group Communications Tel. +45 45 14 14 00 18 July 2018
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Realkredit Danmark reports net profit of DKK 2,475
million for the first half of 2018
Realkredit Danmark today published its report for the first half
of 2018.
Carsten Nøddebo, CEO, says:
“The result benefits from an increase in lending and a fall in
impairments from the levels for the same period of last year. In
the personal customer market, the increase in lending was based on
rising house prices and strong housing market activity. Growth in
lending to personal customers also benefited from the launch of the
FlexLife® product, which offers flexible repayment and an
interest-only period of up to 30 years. Since the introduction of
FlexLife®, we have disbursed loans in the amount of DKK 12 billion,
which is considerably more than expected.”
The report is available at rd.dk. Highlights are shown
below:
- In the first half of 2018, the Realkredit Danmark Group
recorded a net profit of DKK 2,475 million, against DKK 2,162
million in the first half of 2017. The profit for the first half of
2018 was supported by an increase in the loan portfolio.
- Impairments amounted to an income of DKK 191 million, against a
charge of DKK 122 million in the first half of 2017. Both in the
first half of this year and the first half of last year, we
reversed charges previously made, primarily against facilities to
business customers.
- Customer demand for the new mortgage loan product, FlexLife®,
remained strong. FlexLife® loans thus accounted for 19% of new
lending to personal customers. In the 60+ age group, the figure was
48%.
- In the first half of 2018, customers primarily opted for
fixed-rate loans and FlexLån® loans with refinancing intervals of 5
years.
- Realkredit Danmark still expects the profit for 2018 to be at
the same level as in 2017.
Contact: Carsten Nøddebo, CEO, tel. +45 45 13 20 82.
- Realkredit Danmark Interim Report First Half 2018
- Realkredit Danmark press release 18 July 2018