To Nasdaq Copenhagen A/S
12 October 2021
Nykredit raises its guidance for 2021
Financial mutual Nykredit raises its guidance for business profit and profit before tax for 2021 by DKK 1.25 billion to DKK 9.50-10.00 billion from the former DKK 8.25-8.75 billion.
Our earnings upgrade is driven by continued high activity and satisfactory business growth, continued low loan impairment charges as well as a favourable performance in Q3 by the investment and derivatives portfolios.
Michael Rasmussen, Group Chief Executive, says:
– We continued to record satisfactory growth in core business activities and customers in both Nykredit Bank and Totalkredit coupled with sustained tailwinds in financial markets.
– So far, this year has brought about positive business and housing market trends, and we anticipate a more normalised operating environment with cautious optimism following a long and uncertain period caused by the pandemic. We maintain provisions of DKK 2 billion for any future corona-related losses.
Nykredit Bank raises its guidance for business profit and profit before tax for 2021 to DKK 2.8-3.3 billion from DKK 2.4-2.9 billion.
Totalkredit raises its guidance for profit before tax for 2021 to DKK 2.4-2.8 billion from DKK 2.3-2.7 billion.
As scheduled, the Nykredit Group will publish its Q1-Q3 Interim Report for 2021 on 4 November 2021. Nykredit's Management will be available for further comments at that time.
Nykredit Press Relations: Tel +45 20 37 28 69.