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Nordea Mortgage Bank Plc

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EQS-News News vom 17.07.2020

Nordea Mortgage Bank Plc: Q2 2020

EQS Group-News: Nordea Mortgage Bank Plc / Key word(s): Quarter Results
17.07.2020 / 14:00

Stock Exchange release

Nordea Mortgage Bank Plc: Half-year financial report January-June 2020

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

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 2020:

  • The operating profit of Nordea Mortgage Bank amounted to EUR 64.2m
  • Net interest income totalled EUR 113.5m
  • Total operating income was EUR 108.3m
  • Total operating expenses were EUR -31.2m
  • Net loan losses totalled EUR -12.9m, increase mainly driven by the new approach triggered by COVID-19 where additional adjustments to model based provisions have been booked, containing management judgements on projected loan losses not yet covered by the IFRS 9 model (cyclical reserve) and identified issues in the IFRS 9 model to be later covered in model updates (structural reserve)
  • Loans to the public amounted to EUR 27,613.3m
  • Debt securities in issue totalled EUR 19,860.8m
  • The size of the cover pool was EUR 22,330.1m and overcollateralization 12.5%


Summary key figures Jan-Jun Jan-Jun Change Full year
  2020 2019 % 2019
Net interest income, EURm 113.5 104.7 8 219.7
Total operating income, EURm 108.3 94.7 14 212.8
Total operating expenses, EURm -31.2 -36.9 -15 -68.3
Profit before loan losses, EURm 77.1 57.8 33 144.5
Net loan losses, EURm -12.9 -1.7   10.3
Operating profit, EURm 64.2 56.1 14 154.8
Loan loss ratio, annualised, bps 1.3 1.3 0 -3.9
Return on equity, % 8.8 7.8 13 10.4
Tier 1 capital ratio, % 22.3 23.4 -5 23.5
Total capital ratio, % 26.7 28.2 -5 27.9
Number of employees (full time equivalents) 11 18 -39 18

Helsinki, 17 July 2020

Nordea Mortgage Bank Plc
Board of Directors

Additional information:
Jussi Pajala, Chief Executive Officer + 358 40 545 3859
Vesa Ruokokoski, Chief Financial Officer + 358 50 364 3251

Nordea Mortgage Bank Plc, Half-year financial report January-June 2020

Nordea Mortgage Bank Plc, Alternative Performance Measures January-June 2020


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 [email protected] or visit

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