Stock Exchange release
Nordea Mortgage Bank Plc: Annual Report 2021
Nordea 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/investors/finnish-subsidiary-reports. Only information having material influence on the value of securities is included in this stock exchange release.
The Annual Report now published covers the operations of Nordea Mortgage Bank Plc in Finland. Nordea Mortgage Bank Plc is a wholly owned subsidiary of Nordea Bank Abp. The financial statements of Nordea Bank Abp comprise the operations of the Nordea Group as a whole and give the best overview of the Group.
Summary of the year 2021:
- The operating profit of Nordea Mortgage Bank amounted to EUR 88.1m
- Net interest income totalled EUR 262.6m
- Total operating income was EUR 276.2m
- Total operating expenses were EUR 147.9m, of which 93% for intra-group services. 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 40.2m. The IFRS 9 model was updated with more conservative loss data assumption.
- Loans to the public amounted to EUR 30,903.4m
- Debt securities in issue amounted to EUR 21,479.2m
- The size of the cover pool was EUR 23,644.1m and overcollateralization 13.3%.
| Summary of the key figures |
|
|
Change |
| |
2021 |
2020 |
% |
| Net interest income, EURm |
262.6 |
235.6 |
11 |
| Total operating income, EURm |
276.2 |
226.1 |
22 |
| Total operating expenses, EURm |
-147.9 |
-66.1 |
124 |
| Profit before loan losses, EURm |
128.3 |
160.0 |
-20 |
| Net loan losses, EURm |
-40.2 |
-15.4 |
161 |
| Operating profit, EURm |
88.1 |
144.6 |
-39 |
| Loan loss ratio, annualised, bps |
13.0 |
5.4 |
141 |
| Return on equity, % |
5.7 |
9.9 |
-42 |
| Tier 1 capital ratio, % |
31.3 |
23.1 |
38 |
| Total capital ratio, % |
31.9 |
27.4 |
16 |
| Number of employees (full time equivalents) |
13 |
12 |
8 |
Nordea Mortgage Bank Plc’s half-year report will be published 18 July 2022.
Helsinki, 21 February 2022
Nordea Mortgage Bank Plc
Board of Directors
For more information:
Jussi Pajala, Chief Executive Officer, + 358 40 545 3859
Heikki Jousi, Chief Financial Officer, + 358 40 516 2971
Attachments
Nordea Mortgage Bank Plc, Annual Report 2021
http://www.rns-pdf.londonstockexchange.com/rns/3218C_1-2022-2-21.pdf
Nordea Mortgage Bank Plc, Corporate Governance Report 2021
http://www.rns-pdf.londonstockexchange.com/rns/3218C_2-2022-2-21.pdf
Nordea Mortgage Bank Plc, Alternative Performance Measures 2021
http://www.rns-pdf.londonstockexchange.com/rns/3218C_3-2022-2-21.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.
