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Nordea Mortgage Bank Plc: Half-year Report

·3-min read

EQS Group-News: Nordea Mortgage Bank Plc / Key word(s): Half Year Results
21.07.2021 / 14:00

Stock Exchange release

Nordea Mortgage Bank Plc: Half-year financial report January-June 2021

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 2021:

- The operating profit of Nordea Mortgage Bank amounted to EUR 23.6m

- Net interest income totalled EUR 128.9m

- Total operating income was EUR 135.8m

- Total operating expenses were EUR -77.8m. The transfer pricing method applied to the intra-group services has been updated, entailing pricing adjustments which increase the expenses in Nordea Mortgage Bank.

- Net loan losses totalled EUR -34.4m. The IFRS 9 model was updated with more conservative loss data assumption.

- Loans to the public amounted to EUR 29,804.8m.

- Debt securities in issue totalled EUR 20,814.6m.

- The size of the cover pool was EUR 23,348.1m and overcollateralization 12.2%.

 

Summary key figures

Jan-Jun

Jan-Jun

Change

Full year

 

2021

2020

%

2020

Net interest income, EURm

128.9

113.5

14

235.6

Total operating income, EURm

135.8

108.3

25

226.1

Total operating expenses, EURm

-77.8

-31.2

150

-66.1

Profit before loan losses, EURm

58.0

77.1

33

144.5

Net loan losses, EURm

-34.4

-12.9

166

-15.4

Operating profit, EURm

23.6

64.2

-63

144.6

Loan loss ratio, annualised, bps

23.1

9.3

152

5.4

Return on equity, %

3.1

8.8

-65

9.9

Tier 1 capital ratio, %

28.2

22.3

26

23.1

Total capital ratio, %

33.6

26.7

26

27.4

Number of employees (full time equivalents)

13

11

18

12

 


Helsinki, 21 July 2021

Nordea Mortgage Bank Plc
Board of Directors


Additional information:

Jussi Pajala, Chief Executive Officer

+ 358 40 545 3859

Heikki Jousi, Chief Financial Officer

+ 358 40 516 2971

 



Link, Nordea Mortgage Bank Plc, Half-year financial report January-June 2021
http://www.rns-pdf.londonstockexchange.com/rns/9868F_2-2021-7-21.pdf

Link, Nordea Mortgage Bank Plc, Alternative Performance Measures January-June 2021
http://www.rns-pdf.londonstockexchange.com/rns/9868F_1-2021-7-21.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 of Media Release

Language:

English

Company:

Nordea Mortgage Bank Plc

Satamaradankatu 5

FI-00020 Helsinki

Finland

ISIN:

CH0123385772, XS1112680969, XS0770378379

Valor:

A1GPVS, A1ZP1P, A1G3JL

Listed:

SIX Swiss Exchange

EQS News ID:

1220665


 

End of News

EQS Group News Service

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