Nykredit Reports Record Performance in 2024 Financial Results

Nykredit Delivers Strong Annual Report for 2024

Nykredit Realkredit A/S has unveiled its Annual Reports for 2024, showcasing exceptional performance yet again. With a commitment to enhancing financial services and a focus on customer benefits, Nykredit continues to set new standards in the banking sector.

Impressive Growth and Strategic Outlook

Michael Rasmussen, the Group Chief Executive of Nykredit, expressed great satisfaction over the remarkable results achieved in 2024. "This marks the fourth consecutive year of delivering our best full-year performance. Our strong financial indicators demonstrate that we have become a stronger entity this year," he stated.

Nykredit aims to establish itself as a customer-owned alternative to some of the largest listed banks. In a bold move, Nykredit is seeking to acquire Spar Nord Bank, with plans for the acquisition to complete in the first half of the year, contingent upon regulatory approvals.

Customer-Centric Initiatives

With a strong focus on customer satisfaction, Nykredit has announced an increase in the KundeKroner discount from 0.20% to 0.25%. This decision underlines Nykredit’s commitment to offering even more value to its customers. This change will reduce costs for over 900,000 homeowners utilizing Totalkredit loans, allowing for the most competitive rates available in the market.

The KundeKroner discounts signify Nykredit's ongoing dedication to enhancing customer experiences and ensuring that homeowners benefit maximally up to 2028. Investments in Totalkredit and vital partnerships will continue to fortify their market position and support their clients.

Financial Highlights from 2024

Nykredit's financial highlights for the year underline the organization’s robust growth and financial health:

• Totalkredit's mortgage lending surged to DKK 907.5 billion at the end of December 2024.
• Nykredit Bank’s lending increased to DKK 103.3 billion.
• Assets under management by Nykredit Wealth Management grew by 9.5% to DKK 499 billion.
• Nykredit achieved a return on average equity of 11.7% for the year.
• The cost/income ratio was reported at 32.5%.

Financial Performance Breakdown

The financial results for 2024 reflect the diligent operations and strategic growth initiatives undertaken by Nykredit:

Income Statement Overview

• Net interest income stood at DKK 12,018 million.
• Net fee income reached DKK 2,744 million.
• Wealth management income improved to DKK 2,678 million.
• Business profit before impairment charges was DKK 14,467 million.
• Profit for the year reached DKK 11,728 million, demonstrating positive changes year-over-year.

Strategic Financial Guidance

For 2025, Nykredit anticipates a profit after tax in the range of DKK 9.00-9.75 billion, albeit lower than in 2024, primarily due to expectations of decreasing interest rates that may affect returns on equity. However, the overarching geopolitical dynamics may introduce uncertainties in economic projections.

Contact Information

For further information and inquiries, please reach out to Orhan Gökcen, Head of Press Relations, at tel +45 31 21 06 39.

Frequently Asked Questions

What is the main highlight of Nykredit's 2024 report?

Nykredit achieved its best full-year performance, showcasing business growth and enhanced financial stability.

How is Nykredit supporting its customers in 2024?

Nykredit has increased the KundeKroner discount, benefiting over 900,000 homeowners through reduced costs on loans.

What are Nykredit's plans for growth in 2025?

The company plans to complete its acquisition of Spar Nord Bank, targeting further expansion in the market.

What financial performance metrics were reported for 2024?

Nykredit reported impressive metrics, including higher mortgage lending and a strong return on equity.

Who can be contacted for more information regarding Nykredit?

Orhan Gökcen, Head of Press Relations, is available for more information at +45 31 21 06 39.

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