NORDEA MORTGAGE BANK PLC EQS-News: Nordea Mortgage Bank Plc: Q2 2020

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17/07/2020 14:00

EQS Group-News: Nordea Mortgage Bank Plc / Key word(s): Quarter Results
Nordea Mortgage Bank Plc: Q2 2020

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 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 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
http://www.rns-pdf.londonstockexchange.com/rns/3639T_1-2020-7-17.pdf

Nordea Mortgage Bank Plc, Alternative Performance Measures January-June 2020
http://www.rns-pdf.londonstockexchange.com/rns/3639T_2-2020-7-17.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.



End of Corporate News


Language: English
Company: Nordea Mortgage Bank Plc
Satamaradankatu 5
FI-00020 Helsinki
Finland
ISIN: CH0123385772, XS1112680969, XS0770378379
Valor: A1GPVS, A1ZP1P, A1G3JL
Listed: SIX Swiss Exchange
EQS News ID: 1096603

 
End of News EQS Group News Service

1096603  17.07.2020 

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