Nykredit Realkredit Group - Annual Report 2016 M

Michael Rasmussen, Group Chief Executive, comments on the Financial Statements: 

Nykredit achieved its best profit from core business to date. That is satisfactory.

We have recorded a small income rise, and costs declined correspondingly. Lending volumes in both Totalkredit and Nykredit Bank increased. Our customers' finances are in good shape, and impairments are thus very low.

The results confirm that Nykredit is on the right track. Since 2013 profit from core business has trended in the right direction every single year. We have worked with all parts of our business every day and have improved the areas that we can influence. These efforts will continue in 2017.

Non-core business items had a positive total impact on the Financial Statements. Interest rate swaps had an adverse effect, but investment portfolio income had a positive effect, and the divestment of the headquarters buildings in central Copenhagen yielded a positive one-off effect. Against that backdrop, Nykredit has delivered its best overall performance to date.

Reference is made to the Nykredit Realkredit Group's Annual Report for 2016, released today at nykredit.com.

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