Nykredit boosts deposit interest rates

Nykredit has announced an increase in deposit interest rates for the sixth time in two years. From Monday, all private customers at Nykredit Bank will have a deposit rate of at least 1.25%. Customers who have both their daily finances and mortgage with Nykredit Bank will see rates increase to 1.75%. Additionally, Nykredit Group has raised its post-tax profit expectations for 2024 to between 10.5 and 11.5 billion kroner, marking a one billion kroner increase. CEO Michael Rasmussen attributes this positive adjustment to a more favorable financial market than anticipated. In 2023, the group recorded a historic high with earnings of 10.9 billion kroner. For Nykredit Bank specifically, the anticipated earnings for 2024 remain between 3.5 to 4 billion kroner. Following the trend, the bank also raises interest on savings accounts, child savings, and pension accounts. Rasmussen expresses confidence that the new deposit rates will make the bank more competitive.