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Name | Symbol | Market | Type |
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Nord Mort. 2022 | LSE:43FX | London | Medium Term Loan |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
TIDM43FX
RNS Number : 3639T
Nordea Mortgage Bank PLC
17 July 2020
Stock Exchange release
Nordea Mortgage Bank Plc: Half-year financial report January-June 2020
N ordea 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.
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(END) Dow Jones Newswires
July 17, 2020 08:00 ET (12:00 GMT)
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