Nordea Mortgage Bank Plc - Half Year financial report

Nordea Mortgage Bank Plc: Half-year financial report January-June 2024

Nordea Mortgage Bank Plc
Stock exchange release - Half-year financial report
15 July 2024 at 15.00 EET

Nordea Mortgage Bank Plc's Half-year financial report and Alternative
performance measures have been published. The documents are attached to this
release and they are available on
nordea.com (https://www.nordea.com/en/investors/finnish-subsidiary-reports).
Only information having material influence on the value of securities is
included in this stock exchange release.

This statutory half-year report now published covers the operations of Nordea
Mortgage Bank Plc in Finland. Nordea Mortgage Bank Plc is a wholly owned
subsidiary of Nordea Bank Abp. The financial statements of Nordea Bank Abp
comprise the operations of the Nordea Group as a whole and give the best
overview of the Group.

Summary of the first half of 2024

•          The operating profit of Nordea Mortgage Bank amounted to EUR 57.4m

•          Net interest income totalled EUR 135.8m

•          Total operating income was EUR 135.2m

•          Total operating expenses were EUR 70.7m.

•          Net loan losses totalled EUR 7.1m.

•          Loans to the public amounted to EUR 30,995.4m.

•          Debt securities in issue totalled EUR 19,474.1m.

•          The combined size of the cover pools was EUR 24,413.6m and
overcollateralization 26.1%.

+-------------------------------------------+-------+-------+------+---------+
|Summary of the key figures                 |Jan-Jun|Jan-Jun|Change|Full year|
|                                           |2024   |2023   |%     |2023     |
+-------------------------------------------+-------+-------+------+---------+
|Net interest income, EURm                  |135.8  |139.6  |-3    |265.7    |
+-------------------------------------------+-------+-------+------+---------+
|Total operating income, EURm               |135.2  |137.4  |-2    |262.2    |
+-------------------------------------------+-------+-------+------+---------+
|Total operating expenses, EURm             |-70.7  |-75.1  |-6    |-144.0   |
+-------------------------------------------+-------+-------+------+---------+
|Profit before loan losses, EURm            |64.5   |62.4   |3     |118.2    |
+-------------------------------------------+-------+-------+------+---------+
|Net loan losses, EURm                      |-7.1   |-7.9   |      |-16.4    |
+-------------------------------------------+-------+-------+------+---------+
|Operating profit, EURm                     |57.4   |54.5   |5     |101.8    |
+-------------------------------------------+-------+-------+------+---------+
|Loan loss ratio, annualised, bps           |4.6    |5.0    |      |5.3      |
+-------------------------------------------+-------+-------+------+---------+
|Return on equity, %                        |5.6    |5.5    |      |5.1      |
+-------------------------------------------+-------+-------+------+---------+
|Tier 1 capital ratio, %                    |42.1   |39.7   |      |39.8     |
+-------------------------------------------+-------+-------+------+---------+
|Total capital ratio, %                     |42.6   |40.2   |      |40.3     |
+-------------------------------------------+-------+-------+------+---------+
|Number of employees (full time equivalents)|14     |15     |      |14       |
+-------------------------------------------+-------+-------+------+---------+

Helsinki, 15 July 2024
Nordea Mortgage Bank Plc
Board of Directors

For further information:

Jussi Pajala, Chief Executive Officer, + 358 40 545 3859
Heikki Jousi, Chief Financial Officer, + 358 40 516 2971

attachments:
Nordea Mortgage Bank Plc, Half-year financial report 2024
Nordea Mortgage Bank Plc, Alternative Performance Measures January-June 2024

Attachments:

NMB Q2 2024 eng.pdf

APM NMB 062024 ENG.pdf