The Mortgage Society of Finland: Hypo Group’s January–March 2020
The Mortgage Society of Finland: Hypo Group’s January–March 2020
The Mortgage Society of Finland
Interim Report Q1
Helsinki 29 April 2020 3:30 p.m.
Hypo Group’s January–March 2020
The home finance specialist Hypo Group’s net interest income and capital adequacy strengthened.
CEO Ari Pauna:
“Focusing on low risk housing collateralized lending in urbanising Finland is yielding profits even during the corona crisis. Hypo Group’s net interest income and net fee and commission income grew. CET 1 Capital adequacy continued to strengthen. Conservative provisions for future charges have been made and impairment losses remained at low level. Liquidity remained strong.”
- Operating profit was EUR 1.0 million (EUR 1.4 million 1–3/2019)
- Net interest income increased to EUR 3.7 million (EUR 3.4 million 1–3/2019)
- Non-performing loans remained low at 0.26% of loan book (0.10% 31 December 2019)
- Expected credit losses were 0.01% of the loan book
- Net fee and commission income was EUR 0.8 million (EUR 0.8 million 1–3/2019)
- Other income totaled EUR 0.4 million (EUR 0.9 million 1–3/2019) including valuation originated net income from securities trading EUR -0.6 million (EUR 0.1 million 1–3/2019)
- Total costs were EUR 3.9 million (EUR 3.6 million 1–3/2019)
- Common Equity Tier 1 (CET1) ratio, calculated with standard and basic methods, was 13.6% (13.4% on 31 December 2019)
- Liquidity Coverage Ratio (LCR) was 142.6 % (163.8 %).
GROUP'S KEY FIGURES |
|||
(1000 €) |
1–3/2020 |
1–3/2019 |
2019 |
Net interest income |
3 711 |
3 393 |
14 452 |
Net fee and commission income |
841 |
784 |
3 562 |
Total other income |
367 |
916 |
2 689 |
Total expenses |
-3 915 |
-3 644 |
-12 296 |
Operating profit |
1 004 |
1 448 |
8 407 |
Receivables from the public and public sector entities |
2 534 728 |
2 613 754 |
2 586 147 |
Deposits |
1 509 387 |
1 661 714 |
1 628 793 |
Balance sheet total |
3 118 835 |
3 375 639 |
3 230 657 |
Return on equity % (ROE) |
2.4 |
3.8 |
5.5 |
Common Equity Tier 1 (CET1) ratio |
13.6 |
12.2 |
13.4 |
Cost-to-income ratio,% |
79.8 |
71.6 |
59.6 |
Non-performing assets, % of the loan portfolio |
0.26 |
0.09 |
0.10 |
LTV-ratio, % / Loan to Value, average, % |
35.2 |
35.6 |
35.3 |
Loans / deposits, % |
167.9 |
157.3 |
158.8 |
Liquidity Coverage Ratio (LCR), % |
142.6 |
138.8 |
163.8 |
Hypo Group's Interim Report can be accessed at http://www.hypo.fi/en/financial-information/
Distribution:
Nasdaq Helsinki Ltd
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About Suomen Hypoteekkiyhdistys
The Mortgage Society of Finland Group is the only nationwide expert organization specialized in home financing and housing in Finland. Hypo Group grants mortgages as well as renovation loans and consumer loans, both secured by residential property collateral, for first-time and other homebuyers. Hypo Group continuously develops new ways and models for housing and home financing.
Read more: www.hypo.fi
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