July 29, 2016 10:05 PM ET

Thrifts and Mortgage Finance

Company Overview of Realkredit Danmark A/S

Company Overview

Realkredit Danmark A/S provides property financing services to personal and business customers in Denmark, Sweden, and Norway. It operates through two segments, Mortgage Finance and Proprietary Portfolio. The company is also involved in the mediation of property financing services made through the branch network and finance centers of Danske Bank, and corporate and institutional mortgage finance; and real estate transactions through the ‘home’ real-estate agency chain. The company was formerly known as Kreditforeningen Danmark and changed its name to Realkredit Danmark A/S in January, 1993. The company was founded in 1970 and is based in Copenhagen, Denmark. Realkredit Danmark A/S operates a...

Lersø Parkallé 100

Copenhagen,  2100

Denmark

Founded in 1970

239 Employees

Phone:

45 70 12 53 00

Fax:

45 45 14 96 24

Key Executives for Realkredit Danmark A/S

Chairman of the Executive Board and Chief Executive Officer
Age: 52
Managing Director, Director and Chairman of Audit Committee
Age: 61
Senior Vice President
Executive Vice President of Asset Liability Management
Senior Vice President of Property Valuation
Age: 58
Compensation as of Fiscal Year 2016.

Realkredit Danmark A/S Key Developments

Realkredit Danmark A/S Reports Earnings Results for the First Half 2016

Realkredit Danmark A/S reported earnings results for the first half 2016. The company reported net profit of DKK 2,070 million for first half 2016.

Realkredit Danmark A/S Reports Unaudited Group Earnings Results for the First Quarter Ended March 31, 2016; Provides Earnings Guidance for the Year 2016

Realkredit Danmark A/S reported unaudited group earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported net interest income of DKK 1,733 million compared to DKK 1,755 million a year ago. Interest income was DKK 5,046 million compared to DKK 5,902 million a year ago. Profit before tax was DKK 1,371 million compared to DKK 1,376 million a year ago. Net profit was DKK 1,069 million compared to DKK 1,053 million a year ago. Cash in flow from operating activities was DKK 6,255 million compared to DKK 20,420 million a year ago. The company expects the profit for 2016 to be at the same level as in 2015.

Realkredit Danmark Refinances Bonds Financing FlexKort®, RD Cibor6® and RD Euribor3® Maturing July 1, 2016

Realkredit Danmark will refinance bonds financing FlexKort®, RD Cibor6® and RD Euribor3® maturing July 1, 2016. For the auctions new floating rate covered bonds (SDRO) will be issued. The bonds will expectedly be opened in April where the Final terms will be published in an Announcement of prospectus. Realkredit Danmark is still unsure of the depth of demand for mortgage covered bonds without an interest rate floor. The decision on whether a bond is to be opened with or without an interest rate floor is based on an overall assessment of what is in the best interest of the customers. Realkredit Danmark has chosen to open a 4-year mortgage covered bond (SDRO) without an interest rate floor to fund RD Cibor6®. The bond is opened without an interest rate floor in order to meet customer demand. Further, it's Realkredit Danmark's assessment that there is sufficient interest by investors for bonds without interest rate floor to meet the need for RD Cibor6® funding. The bond will be used for new loan offers after refinancing. For the refinancing of FlexKort® a 4-year mortgage covered bond (SDRO) is also opened ­ but the interest rate floor is maintained. Realkredit Danmark does not assess that the demand in the market for bonds without an interest rate floor is sufficient to ensure an auction result that is in the customers' best interest.

Similar Private Companies By Industry

Company Name Region
BRFfonden A/S Europe
DLR Kredit A/S Europe
Foreningen Nykredit Europe
Kongeriget Danmarks Hypotekbank & Finansforvaltning Europe
LR Realkredit A/S Europe

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