Nordea Kredit Realkreditaktieselskab – Interim Report January-June 2014 Company Announcement no 69, 2014

Regulatory News:

Nordea Kredit Realkreditaktieselskab (CSE:NDAR) presented today the Interim Report January-June 2014 - please see link to full report here: http://mb.cision.com/Public/105/9618028/b7e907d7b79d1254.pdf

Comments on results for the period

Nordea Kredit posted a profit of DKK 676m after tax for the first six months of 2014 (DKK 568m).

The profit is satisfactory and should been seen in light of the positive trend in business volumes, increased market shares and lending as well as adjusted fees.

Income from administration and reserve fees totalled DKK 1,438m (DKK 1,293) and was due to lending growth and increased fees.

The return on investment amounted to DKK 98m net (DKK 51m). The return on investment comprises all interest income and the net result from items at fair value relating to cash investments,interest expenses relating to Nordea Kredit’sfunding as well as income from the bond price spread charged to borrowers when refinancing adjustable-rate mortgages. The net return from items at fair value was positively affected by income from the refinancing of adjustable-rate mortgages and was impacted by the positive rates on cash investments towards the end of the period. Fee and commission income stood at DKK 79m (DKK 98m). The decline versus the first six months of 2013 reflects lower refinancing volumes and was affected by a fee-free switch offered to customers for certain types of refinancings. Fee and commission expense was DKK 400m (DKK 378m).

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