Nykredit Realkredit A/S upgrades full-year guidance, and Nykredit Bank raises deposit rates
19 Abril 2024 - 1:00AM
Nykredit Realkredit A/S upgrades full-year guidance, and Nykredit
Bank raises deposit rates
To Nasdaq Copenhagen A/S
19 April 2024
Nykredit Realkredit A/S upgrades full-year guidance, and
Nykredit Bank raises deposit rates
The Nykredit Group raises its guidance for 2024 and now expects
profit after tax of DKK 10.5-11.5 billion compared with the
previously guided range of DKK 9.5-10.5 billion.
Recent years' business and customer growth in the Nykredit Group
continued during the first months of 2024. Furthermore, thanks to
the solid credit quality and resilience of our customers impairment
charges for the period were a minor reversal. The upgrade is also
rooted in financial market conditions, which had a particularly
positive impact on investment portfolio income in the first
quarter.
Nykredit Bank maintains expectations for profit after tax for
2024 of DKK 3.5-4.0 billion.
Totalkredit maintains expectations for profit after tax for 2024
of DKK 3.0-3.5 billion.
As of 22 April 2024 Nykredit Bank will also increase deposit
rates on all personal current and savings accounts.
Going forward, customers who have their everyday banking and
home financing with Nykredit will get a deposit rate of 1.75% on
their current account.
All personal customers of Nykredit Bank, irrespective of
accounts volume, will get a deposit rate of at least 1.25% on their
current account.
This will be the sixth time that Nykredit Bank raises deposit
rates for personal customers since we removed negative interest
rates in July 2022.
The new deposit rates will apply from Monday 22 April 2024.
Michael Rasmussen, Group Chief Executive,
says:– Q1 developed more favourably than expected; this
means that we are now guiding for a profit for the year on a level
with Nykredit's results for 2023, which were the best ever
recorded. We are pleased that we have succeeded in continuing the
growth of recent years into 2024, but the upgrade is not least due
to a financial climate which has so far developed more favourably
than expected earlier this year.
– As a customer-owned company, we have decided to raise our
deposit rates. This will make it even more attractive for all our
personal customers to bank with Nykredit. For those of our personal
customers who have chosen to consolidate their finances with us, we
have made it particularly attractive to save up for a home or for
green projects. At the same time, it has been important for us to
raise the deposit rate for ordinary accounts, so that all of our
personal customers feel that they get a higher rate of
interest.
– Overall, the new deposit rates have strengthened our market
position even further.
Box 1: As of 22 April 2024, Nykredit Bank will increase
deposit rates on all current and savings accounts by at least
0.25%. For full-service customers who have their everyday
banking and home financing with Nykredit Bank, the deposit rate on
current accounts will be raised to 1.75%.The deposit rate on the
current accounts of other personal customers of Nykredit Bank will
be raised to a minimum of 1.25%. The interest rate offered on our
savings account "Opsparingskonto" will be raised to a minimum of
2.0%.The interest rate offered on our children's savings and
pension savings accounts will be raised to 3% and the interest rate
on our "UngKonto" account aimed at people aged 18-35 will be raised
to 2.75% for amounts up to DKK 20,000.For our home savings account
"BoligOpsparing" and our green savings account "Grøn Opsparing",
the interest rate will be raised to 2.25% and including bonus
interest it is possible to get up to 4.5% interest for amounts up
to DKK 300,000. |
As scheduled, the Nykredit Group will publish its Q1 Interim
Report for 2024 on 8 May 2024. At that time, Nykredit's Management
will be available for further comments.
The new deposit rates will apply from Monday 22 April 2024.
Going forward, Nykredit Bank will contact its personal customers to
inform about the new interest rates. For further information about
the deposit rate increases, please visit www.nykredit.dk .Questions
may be addressed to Press Relations, tel +45 31 21 06 39.
- Upgrade full year guidance - Nykredit Realkredit -
19-04-2024