Net profit of DKK 3,521 million for the first nine months of 2018

Realkredit Danmark today published its interim report for the first nine months of 2018.

Carsten Nøddebo, CEO, says:

“The result is satisfactory and reflects, among other things, that we were able to reverse impairments previously made against loans to primarily business customers. In addition, the result benefited from growth in lending. There was considerable demand among home owners for the FlexLife® loan type introduced in September last year. Almost one in five new loans disbursed is thus now a FlexLife® loan.”

The report is available at rd.dk. Highlights are shown below:

• In the first nine months of 2018, the Realkredit Danmark Group recorded a net profit of DKK 3,521 million, against DKK 3,270 million in the first nine months of 2017. The net profit for the first nine months of 2018 was supported by an increase in the loan portfolio.
   
• Impairments amounted to an income of DKK 215 million, against a charge of DKK 93 million in the first nine months of 2017. Both in the first nine months of this year and the first nine months of last year, we reversed charges previously made against primarily loans to business customers.
   
• Customer demand for the most recently launched mortgage loan product, FlexLife®, remained strong. FlexLife® loans thus accounted for 18% of new lending to personal customers. In the 60+ age group, the figure was 46%.
   
• In the first nine months of 2018, customers primarily opted for fixed-rate loans and FlexLån® loans with refinancing intervals of 5 years.
   
• Realkredit Danmark still expects net profit for 2018 to be at the same level as in 2017.

Carsten Nøddebo, CEO, tel. +45 45 13 20 82.

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