Nordea Mortgage Bank PLC Half-year financial report January-June 2019 (9484F)
July 18 2019 - 7:00AM
UK Regulatory
TIDM43FX
RNS Number : 9484F
Nordea Mortgage Bank PLC
18 July 2019
Stock Exchange release
Nordea Mortgage Bank Plc: Half-year financial report
January-June 2019
Nordea Mortgage Bank Plc's Half-year financial report and
Alternative performance measures have been published. The documents
are attached to this release and they are available on the Internet
at
http://www.nordea.com/en/investor-relations/reports-and-presentations/.
Only information having material influence on the value of
securities is included in this stock exchange release.
Nordea Mortgage Bank Plc is a wholly owned subsidiary of Nordea
Bank Abp, the listed parent company of the whole Nordea Group. This
statutory half-year report covers the operations of the legal
entity Nordea Mortgage Bank Plc. The half-year report of Nordea
Bank Abp comprises the operations of the Nordea Group as a whole
and gives the best overview of the Group.
Summary of the first half of 2019:
-- The operating profit of Nordea Mortgage Bank amounted to EUR 56.1m
-- Net interest income totalled EUR 104.7m
-- Total operating income was EUR 94.7m
-- Total operating expenses were EUR -36.9m, increase mainly
explained by additional service fees related to the purchase of EUR
2.2bn loan portfolio from Nordea Bank Abp in June
-- Net loan losses totalled EUR -1.7m
-- Loans to the public increased 12% compared to year-end 2018
and amounted to EUR 25.9bn, increase mainly driven by the purchase
of EUR 2.2bn loan portfolio in June
-- Debt securities in issue decreased to EUR 16.2bn
-- The size of the cover pool increased 10% compared to year-end
2018 and amounted to EUR 21.8bn, as a result of the purchase of EUR
2.2bn loan portfolio in June
Summary key figures Jan-Jun Jan-Jun Change Full year
2019 2018 % 2018
-------- -------- ------- ----------
Net interest income, EURm 104.7 113.6 -8 219.8
-------- -------- ------- ----------
Total operating income, EURm 94.7 107.4 -12 208.5
-------- -------- ------- ----------
Total operating expenses,
EURm -36.9 -29.6 25 -54.1
-------- -------- ------- ----------
Profit before loan losses,
EURm 57.8 77.8 -26 154.4
-------- -------- ------- ----------
Net loan losses, EURm -1.7 -7.3 -77 -11.4
-------- -------- ------- ----------
Operating profit, EURm 56.1 70.5 -20 143.0
-------- -------- ------- ----------
Loan loss ratio, annualised,
bps 1.3 6.2 -79 4.9
-------- -------- ------- ----------
Return on equity, % 7.8 9.6 -19 9.6
-------- -------- ------- ----------
Tier 1 capital ratio, % 23.4 25.4 -8 24.1
-------- -------- ------- ----------
Total capital ratio, % 28.2 30.6 -8 29.1
-------- -------- ------- ----------
Number of employees (full
time equivalents) 18 18 0 17
-------- -------- ------- ----------
Helsinki, 18 July 2019
Nordea Mortgage Bank Plc
Board of Directors
For further information:
Thomas Miller, Chief Executive Officer + 358 40 864 4554
Vesa Ruokokoski, Chief Financial Officer + 358 50 364 3251
Link, Nordea Mortgage Bank Plc, Half-year financial report
January-June 2019
http://www.rns-pdf.londonstockexchange.com/rns/9484F_1-2019-7-18.pdf
Link, Nordea Mortgage Bank Plc, Alternative Performance Measures
January-June 2019
https://mb.cision.com/Public/16126/2865449/adec64211281997b.pdf
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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