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Tuesday, 30 January 2018

The Mortgage Society of Finland: Group Financial Statement Release 2017

Suomen Hypoteekkiyhdistys    

Published: 14:30 CET 30-01-2018 /GlobeNewswire /Source: Suomen Hypoteekkiyhdistys / : HYPO28062024 /ISIN: FI4000266903

The Mortgage Society of Finland: Group Financial Statement Release 2017

The Mortgage Society of Finland: Group Financial Statement Release 2017

The Mortgage Society of Finland

30.1.2018 15:30

Hypo Group's January-December 2017

The home finance specialist Hypo's net interest income and competitiveness strengthen further.

CEO Ari Pauna:

"Hypo's loan portfolio grew to EUR 2.2 billion as a growing number of urban citizens choose Hypo to finance their home or housing company mortgage. The positive development of Hypo's core business continues despite low interest rates and narrowing margins." 

  • Net interest income increased to EUR 9.0 million (EUR 5.4 million 1-12/2016)
  • Low risk loan portfolio secured by housing collateral continued to grow faster than the market
  • Non-performing loans remained low and impairment losses were 0 euros
  • Net fee and commission income decreased to EUR 3.5 million (EUR 4.5 million 1-12/2016) due to decrease in land trustee service profits.
  • Total of other income decreased as capital gains declined especially in investment properties business
  • Expenses grew due to Contribution to Financial Stability Authority and increased business volumes
  • Common Equity Tier 1 (CET1) ratio, as calculated with standard and basic methods, was 12.7% (13.6% on 31 December 2016)

GROUP'S KEY FIGURES

    

(1000 €)

1-12/2017

1-12/2016

10-12/2017

10-12/2016

 

    

Net interest income

8 991

5 386

2 712

1 776

Net fee and commission income

3 525

4 439

834

890

Total other income

5 190

7 924

1 142

1 612

Total expenses (incl. depreciation, other operating expenses and impairment losses)

-11 055

-10 403

-2 946

-3 188

Operating profit

6 651

7 347

1 741

1 090

 

    

Receivables from the public and public sector entities

2 212 574

1 806 440

2 212 574

1 806 440

Deposits

1 540 400

1 203 042

1 540 400

1 203 042

Balance sheet total

2 792 489

2 305 218

2 792 489

2 305 218

 

    

Common Equity Tier 1 (CET1) ratio

12,7

13,6

12,7

13,6

Cost-to-income ratio,%

62,5

57,1

62,6

68,3

Non-performing assets, % of the loan portfolio

0,14

0,11

0,14

0,11

LTV-ratio, % / Loan to Value, average, %

37,4

38,4

37,4

38,4

Loans  / deposits, %

143,6

150,2

143,6

150,2

 

Contact information:

CEO Mr. Ari Pauna, tel. +358 9 228 361, +358 50 353 4690

Chief Risk Officer, deputy to the CEO Mikko Huopio, tel. +358 9 228 361,+358 400 2990

 

 

Hypo Group's Financial Statements Release can be accessed at http://www.hypo.fi/en/



Hypo_Financial_Statements_Release_2017



This announcement is distributed by Nasdaq Corporate Solutions (One Liberty Plaza, 165 Broadway, New York, NY 10006. Tel: +1 212 401 8700. www.nasdaqomx.com) on behalf of Nasdaq Corporate Solutions clients. Source: Suomen Hypoteekkiyhdistys, PL 509, Helsinki 00101, Finland
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