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.c
