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Nykredit Realkredit A/S raises its full-year guidance for 2021

·1-min read

To Nasdaq Copenhagen

Nykredit Realkredit A/S raises its full-year guidance for 2021
Financial mutual Nykredit expects a profit before tax for 2021 of about DKK 10.7 billion, with business profit expected at about DKK 10.3 billion. Previous guidance for profit before tax and business profit was DKK 9.5-10.0 billion.

Our earnings upgrade is driven by continued positive business momentum. 2021 was characterised by lending growth in Totalkredit as well as growth in lending and assets under management in Nykredit Bank. Group-wide growth positively affected our full-year profit, which was also impacted by strong credit quality as well as a very favourable trend in investment portfolio income and derivatives.

Michael Rasmussen, Group Chief Executive, says:
– It is now clear to us that our results for 2021 will not only exceed our expectations, but that Nykredit will deliver its best financial performance ever. Obviously, this is highly satisfactory.

– 2021 was yet another year with high business and customer growth in Nykredit Bank and Totalkredit. We are pleased to get the opportunity to demonstrate to new customers all across the country the benefits of our unique ownership structure, allowing us to share our success with customers.

For Nykredit Bank, our guidance for profit before tax and business profit was raised to DKK 3.5 billion and DKK 3.1 billion. Previous guidance for profit before tax and business profit was DKK 2.8-3.3bn. Totalkredit maintains its guidance for a profit of about DKK 2.8 billion.

As scheduled, the Nykredit Group will publish its Annual Report 2021 on 9 February 2022. At this time, Nykredit's Management will be available for further comments.

Contact
Questions may be addressed to Nykredit Press Relations at tel +45 27 58 95 88.

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