Interim report January-September 2018 Nordax Bank AB
Business development private loans
New lending continued to have a strong development and amounted to 4.3 bn SEK for the nine-month period, an increase with 20 per cent compared to the corresponding period in 2017. The two most important factors behind the positive development has been a strong development in Finland and a improved customer offering in the broker channel.
Business development mortgages
The interest in Nordax mortgage product, which was launched during the 2nd quarter 2018, has been very high. Since mid september the marketing for the product has increased through the branding campaign Mortgages for common people (Bolån för vanligt folk*) which has increased the application flow substantially during the end of the quarter.
Total lending to the public increased by 11 per cent compared to year-end and amounted to 14 954 MSEK. Lending increased in all markets with the strongest development in Finland where total lending increased by 18 per cent.
Result January-September 2018 (compared to January-September 2017)
- Operating profit was 375 MSEK (411).
- Net interest income amounted to 982 MSEK (891)
- Total operating expenses was -393 MSEK (-334).
- Credit losses amounted to -276 MSEK (-147), corresponding to a credit loss level of 2.6 percent (1.5).
For more information, please contact
Andreas Frid, Head of Investor Relations, Nordax
Tel: +46 705 29 08 00