Summary
▪ Pre-tax profit amounted to DKK 299 million.
▪ Lending and leasing decreased by DKK 1.3 billion to DKK 191.2 billion from year-end 2020 as an increase in net lending of DKK 3.8 billion was countered by a decrease in value adjustments of DKK 5.1 billion.
▪ Net interest income amounted to DKK 180 million against DKK 221 million in the same period last year.
▪ Comprehensive incom
SUMMARY
▪ Lending and leasing increased by close to DKK 6 billion to DKK 191 billion, of which DKK 4 billion was due to new loans and leases in the period.
▪ Net interest income decreased to DKK 221 million against DKK 250 million in the same period last year, which is in line with expectations at the end of 2019.
▪ Pre-tax profit amounted to DKK 186 million.
▪ Comprehensive income for
The Board of Directors of KommuneKredit have today approved the Interim Report for 2018.
CEO Jens Lundager states: “KommuneKredit does not need to make a profit on our lending to municipalities and regions. Thus, our profitability is expressed through low interest rates rather than high earnings. We have had a satisfactory development in the first half of 2018. Required earnings has been below
KommuneKredit is a Danish special-purpose credit institution, providing funding for the local growth and green transition in municipalities and regions across Denmark.
KommuneKredit is an association with sustainability at its core and a strong ESG profile. Our member base consists of all Danish municipal and regional authorities. Our guarantee structure and safe business model have secured us a premium credit rating (AAA) (Aaa).
That is why we can offer municipalities and regions instant and uncomplicated access to financing of projects large or small and at the lowest possible cost. With equal opportunities and terms for all – across the entire country.
That is how it has been since 1899, when KommuneKredit first disbursed a loan. And that is the way it is today, as our dedicated employees advise on and arrange more than 2,000 loans every year.
When investors buy our bonds, we can disburse loans for purposes ranging from energy renovation of a local sports centre to the purchase of a new eco-friendly hybrid ferry, or the establishment of more sustainable district heating systems across the country.
For the benefit of ordinary citizens, for our local communities, and for an even greener future.
