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.
