Nykredit’s record half-year profit

Nykredit reported its best half-year financial result with a net profit of 6.5 billion Danish kroner, an improvement of 1.1 billion over the same period last year. According to CEO Michael Rasmussen, the success, especially in Q2, was due to increased business volume and market share gains, despite a sluggish housing market this year. The company anticipates a total annual profit of 10.5 to 11.5 billion kroner for 2024, which would align with the previous year’s 10.9 billion. As Denmark’s largest mortgage lender, Nykredit also includes Totalkredit and has grown its lending from 92 billion to 97.4 billion kroner. Owned mainly by its customers under Forenet Kredit and with pension companies holding smaller shares, the shareholders are set to receive an extraordinary dividend of 2.2 billion kroner due to the strong performance. Additionally, Nykredit has enhanced its customer discount ‘Kundekroner’ to 0.2 percent from the previous 0.15 percent.