Nykredit today announces the Annual Reports for 2025 - Nykredit Realkredit A/S

Core Insights - Nykredit Group reported its best financial results ever for the fifth consecutive year, achieving a profit after tax of DKK 12.4 billion in 2025, benefiting its customer-owners [1][2] - The strong performance is attributed to growth and increasing market shares across all business areas, alongside high customer satisfaction levels [1][2] - The integration of Nykredit and Spar Nord is progressing well, with plans for IT migration set for Easter 2026, aiming to provide customers with competitive offerings [1][2] Financial Performance - Net interest income increased to DKK 14,232 million in 2025 from DKK 12,018 million in 2024, a rise of DKK 2,214 million [4] - Net fee income rose to DKK 3,651 million, up DKK 908 million from DKK 2,744 million in 2024 [4] - Total income for the Nykredit Group reached DKK 25,242 million, an increase of DKK 3,810 million compared to DKK 21,431 million in 2024 [4] Customer and Market Growth - The Nykredit Group experienced a substantial net inflow of personal and business customers, contributing to the rise in net interest and fee income [1][6] - Bank lending totaled DKK 177 billion, with Spar Nord contributing DKK 64.3 billion; excluding Spar Nord, bank lending increased by 9.1% from DKK 103.3 billion in 2024 to DKK 112.7 billion in 2025 [6] - Wealth management income for the Group was DKK 3,067 million, with a 4.4% increase excluding Spar Nord [6] Cost and Efficiency - The cost/income ratio for the Nykredit Group was 34.5% excluding extraordinary impacts, and 38.7% including Spar Nord and extraordinary impacts, indicating a low cost structure [6] - Total costs increased to DKK 9,764 million in 2025 from DKK 6,964 million in 2024, with transaction and integration costs related to Spar Nord accounting for DKK 1,002 million [4] Future Outlook - For 2026, the Group expects a profit after tax in the range of DKK 10.25-11.25 billion and plans to pay out DKK 3.5 billion to customers in benefits [1][2] - Financial performance is anticipated to be lower than in 2025 due to one-off effects related to the acquisition of Spar Nord and market trends [1][2]