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The Mortgage Society of Finland: Hypo Group's January-June 2020 (Nordic IR)
31.8.2020 16:00:00 EEST | Suomen Hypoteekkiyhdistys | Half Year financial report
The Mortgage Society of Finland: Hypo Group's January-June 2020
The Mortgage Society of Finland
Half Year Financial Report
Helsinki 31 August 2020 4:00 p.m.
Hypo Group’s January–June 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 as the corona crisis continues. 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 is very strong.”
- Operating profit was EUR 2.2 million (EUR 3.9 million 1–6/2019)
- Net interest income increased to EUR 7.3 million (EUR 6.9 million 1–6/2019)
- Non-performing loans remained low at 0.24% 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 1.9 million (EUR 1.8 million 1–6/2019)
- Other income totaled EUR 1.1 million (EUR 1.6 million 1–6/2019)
- Total costs were EUR 8.1 million (EUR 6.4 million 1–6/2019) including EUR 1.7 million contribution to the Resolution Fund for the year 2020
- Common Equity Tier 1 (CET1) ratio, calculated with standard and basic methods, was 13.7% (13.4% on 31 December 2019)
- Liquidity Coverage Ratio (LCR) was 242.1 % (163.8 %).
| GROUP'S KEY FIGURES |
|||||
| (1000 €) |
1-6/2020 |
1-6/2019 |
4-6/2020 |
4-6/2019 |
2019 |
| Net interest income |
7 286 |
6 870 |
3 575 |
3 477 |
14 452 |
| Net fee and commission income |
1 875 |
1 762 |
1 034 |
978 |
3 562 |
| Total other income |
1 131 |
1 647 |
764 |
731 |
2 689 |
| Total expenses |
-8 102 |
-6 427 |
-4 188 |
-2 783 |
-12 296 |
| Operating profit |
2 189 |
3 851 |
1 185 |
2 404 |
8 407 |
| Receivables from the public and public sector entities |
2 505 422 |
2 662 813 |
2 505 422 |
2 662 813 |
2 586 147 |
| Deposits |
1 523 096 |
1 606 093 |
1 523 096 |
1 606 093 |
1 628 793 |
| Balance sheet total |
3 230 719 |
3 214 302 |
3 230 719 |
3 214 302 |
3 230 657 |
| Return on equity % (ROE) |
2.7 |
5.1 |
3.0 |
6.4 |
5.5 |
| Common Equity Tier 1 (CET1) ratio |
13.7 |
12.4 |
13.7 |
12.4 |
13.4 |
| Cost-to-income ratio,% |
78.4 |
62.7 |
77.1 |
53.9 |
59.6 |
| Non-performing assets, % of the loan portfolio |
0.24 |
0.07 |
0.24 |
0.07 |
0.10 |
| LTV-ratio, % / Loan to Value, average, % |
34.5 |
35.7 |
34.5 |
35.7 |
35.3 |
| Loans / deposits, % |
164.5 |
165.8 |
164.5 |
165.8 |
158.8 |
| Liquidity Coverage Ratio (LCR), % |
242.1 |
149.7 |
242.1 |
149.7 |
163.8 |
Hypo Group's Interim Report can be accessed at http://www.hypo.fi/en/financial-information/
Distribution:
Nasdaq Helsinki Ltd
Main media
Contacts
- Mr. Ari Pauna, CEO, +358 50 353 4690
- Mr. Mikko Huopio, Deputy to the CEO, +358 50 400 2990
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