TIDM43FX

RNS Number : 7342Q

Nordea Mortgage Bank PLC

01 March 2021

Stock Exchange release

Nordea Mortgage Bank Plc: Annual Report 2020

N ordea Mortgage Bank Plc's Annual Report, Corporate Governance Report and Alternative performance measures have been published. The documents are attached to this release and they are available on the Internet at https://www.nordea.com/en/investor-relations/reports-and-presentations/subsidiary-reports/finnish-subsidiary-reports/ . Only information having material influence on the value of securities is included in this press release.

The Annual Report now published covers the operations of Nordea Mortgage Bank Plc in Finland. Nordea Mortgage Bank Plc is a subsidiary wholly owned by Nordea Bank Abp. The financial statements of Nordea Bank Abp comprise the operations of the Nordea Group as a whole and gives the best overview of the Group.

Summary of the year 2020:

   --    The operating profit of Nordea Mortgage Bank amounted to EUR 144.6m 
   --    Net interest income totalled EUR 235.6m 
   --    Total operating income was EUR 226.1m 
   --    Total operating expenses were EUR -66.1m

-- Net loan losses totalled EUR -15.4m, increase mainly driven by the new approach triggered by COVID-19 where management judgements of EUR 7.1m have been booked in addition to model based provisions. The management judgement covers projected loan losses not yet covered by the IFRS 9 model (cyclical reserve) and identified issues in the IFRS 9 model to be later covered in model updates (structural reserve). Realised loan losses were EUR -3.2m

   --    Loans to the public increased 8% during the year and amounted to EUR 28,764.2m 
   --    Debt securities in issue increased 23% during the year and amounted to EUR 19,750.8m 
   --    The size of the cover pool was EUR 22,934.8m and overcollateralization 16.7%. 
 
 Summary of the key figures                      Change 
                                  2020    2019        % 
                                ------  ------  ------- 
 Net interest income, EURm       235.6   219.7        7 
                                ------  ------  ------- 
 Total operating income, 
  EURm                           226.1   212.8        6 
                                ------  ------  ------- 
 Total operating expenses, 
  EURm                           -66.1   -68.3       -3 
                                ------  ------  ------- 
 Profit before loan losses, 
  EURm                           160.0   144.5       11 
                                ------  ------  ------- 
 Net loan losses, EURm           -15.4    10.3 
                                ------  ------  ------- 
 Operating profit, EURm          144.6   154.8       -7 
                                ------  ------  ------- 
 Loan loss ratio, annualised, 
  bps                              5.4    -3,9 
                                ------  ------  ------- 
 Return on equity, %               9.9    10.4       -5 
                                ------  ------  ------- 
 Tier 1 capital ratio, %          23.1    23.5       -2 
                                ------  ------  ------- 
 Total capital ratio, %           27.4    27.9       -2 
                                ------  ------  ------- 
 Number of employees (full 
  time equivalents)                 12      18      -33 
                                ------  ------  -------

Nordea Mortgage Bank Plc's semi-annual report will be published 16 July 2021.

Helsinki, 1 March 2021

Nordea Mortgage Bank Plc

Board of Directors

Additional information:

   Jussi Pajala, Chief Executive Officer                          + 358 40 545 3859 
   Vesa Ruokokoski, Chief Financial Officer                   + 358 50 364 3251

http://www.rns-pdf.londonstockexchange.com/rns/7342Q_1-2021-3-1.pdf, Nordea Mortgage Bank Plc, Annual Report 2020

http://www.rns-pdf.londonstockexchange.com/rns/7342Q_2-2021-3-1.pdf, Nordea Mortgage Bank Plc, Corporate Governance Report 2020

http://www.rns-pdf.londonstockexchange.com/rns/7342Q_3-2021-3-1.pdf, Nordea Mortgage Bank Plc, Alternative Performance Measures 2020

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACSSSMFDFEFSESD

(END) Dow Jones Newswires

March 01, 2021 08:09 ET (13:09 GMT)

Nord Mort. 2022 (LSE:43FX)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Nord Mort. 2022 Charts.
Nord Mort. 2022 (LSE:43FX)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Nord Mort. 2022 Charts.