Nordea Hypotek AB (publ): Nordea Hypotek AB Year-end report 2020
Nordea Hypotek AB's year-end report has been published at:
https://www.nordea.com/en/investor-relations/reports-and-presentations/subsidiary-reports/swedish-subsidiary-reports/
In the second half of 2020, lending to the public increased by 3.2%, amounting on 31 December 2020 to SEK 619,166m (599,911).
Summary of full-year 2020 compared to full-year 2019:- Operating profit amounted to SEK 5,305m (5,242), which is an increase of 1.2%.
- Net interest income amounted to SEK 7,092m (6,815); an increase of 4.1%. The main reason for the increase in net interest income is higher lending volumes and lower funding costs.
Operating expenses at the end of the year were SEK 1,580m (-1,490), an increase of 6.1% compared to 2019. In 2020, Nordea Hypotek performed a review of the distribution costs that the Company pays to the Parent Company, which is the main reason for the increase in operating expenses compared with 2019.
Net loan losses amounted to SEK -77m (-18) during the period, and are mainly attributable to increased model-based loan provisions. Realised loan losses, less recoveries on written-off loans and reversed provisions, decreased by SEK 2m in 2020, amounting to SEK 6m (8) at the end of the year.
Lending to the public increased during the year by 6.8% (5.6), amounting at the end of the year to SEK 619,166m (579,773).
Publications for 2020
Nordea Hypotek's annual report for the 2020 financial year, which contains the audited financial statements, the administration report and the corporate governance report, will be published on 5 March 2021 in connection with a stock exchange release and will also be available at that time on nordea.com.
For more information:
Arvid Krönmark, Managing Director Nordea Hypotek AB
Contact via the duty press officer: +46 771 40 10 60
This information is such that Nordea Hypotek AB (publ), 556091-5448, is obliged to publish under the Securities Markets Act (2007:528). The information was released for publishing on 25 February 2021 at 10.00 CET.
Nordea Hypotek AB (publ) is a wholly owned subsidiary of Nordea Bank Abp. The Company operates on the Swedish market and grants loans, primarily long-term in nature, to households, sole business proprietors, municipalities and other legal entities through the distribution network of the parent bank's Swedish branch.