1 January 2012 – 30 June 2012

H1 – in brief

-- H1/2012 lending activity soared as many borrowers took advantage of the low
interest rate environment to refinance their loans. Gross new lending came
to DKK 79.2bn, or almost three times the amount in H1/2011
-- Core income from business operations rose 31.4% to DKK 838m relative to
H1/2011
-- Net expenses for supplementary collateral (junior covered bonds) were up
DKK 58m to DKK 92m on H1/2011
-- Core income from securities came to DKK 26m against DKK 71m in H1/2011
-- Operating costs rose by DKK 10m to DKK 196m
-- Costs as a percentage of core income from business operations declined to
23.4% against 29.2% in H1/2011
-- In H1/2012, impairment losses on loans and advances came to DKK 331m,
equivalent to 0.07% of lending
-- The need for impairment provisions had increased as a consequence of
declining property prices. For the full year 2011 impairment losses on
loans and advances came to DKK 447m, for H1/2011 the amount was DKK
308m. At the last six due dates, the arrears ratio, measured 105 days
after the last due date, ranged from 0.22% to 0.25% – most recently
0.23%
-- Investment portfolio income was DKK 99m against DKK 21m in the same period
the year before
-- Profit before tax was DKK 344m against DKK 371m for the same period in 2011

Contacts:
Søren Holm, Group Managing Director, Nykredit, tel +45 44 55 10 10
Troels Bülow-Olsen, Managing Director, Totalkredit, tel +45 44 55 54 00

Totalkredit - H1 Interim Report 2012 - 23 08 2012.pdf