Published: 2021-02-04 10:15:00 CET
Nordea Kredit Realkreditaktieselskab
Financial Statement Release

Nordea Kredit Realkreditaktieselskab – Year-end Report January-December 2020 Company announcement no 12, 2021

Nordea Kredit Realkreditaktieselskab today presented the attached Year-end Report January-December 2020 with the following key points:

  • In 2020, Nordea Kredit continued its focus on the digital customer experience, delivering on a smoother, faster, and more transparent process for mortgage customers.
  • Throughout the coronavirus pandemic, Nordea Kredit has seen high activity levels. Thanks to our dedicated colleagues and digital solutions customers experienced the same good service as usual. The strong efforts to maintain and further improve the customer experience also resulted in an improvement in overall customer satisfaction.
  • The solid growth in lending from previous year continued in 2020. Total lending measured at nominal value increased by 3% to DKK 409bn (DKK 398bn at end-December 2019) related to owner-occupied dwellings. Furthermore, the right mix of products, valuable advice and availability resulted in a positive trend in Nordea Kredit’s market share for owner-occupied dwellings during 2020.
  • Profit before impairment losses was down with 10% to DKK 2,131m (DKK 2,379m for 2019) due to lower commission income from refinancing and re-mortgaging activity, down from a very high level in 2019, and an increase in guarantee fees.
  • Profit before tax was down by 31% to DKK 1,640m (DKK 2,373m in 2019) affected by lower commission income, higher guarantee fees and provisions for expected credit losses.
  • Impairment losses on loans increased to DKK 491m (DKK 6m in 2019) mainly due to the impact from an update of the model for calculating expected credit losses and management judgements. Realised loan losses continued on a low level despite the coronavirus pandemic.
  • Credit quality and capital position remained strong during 2020.


For further information:

Stine Green Paulsen, Communication DK, +45 70 80 11 62

Nordea Kredit Realkreditaktieselskab
Helgeshøj Allé 33

PO Box 850
DK-0900 Copenhagen C