Nykredit
Encyclopedia
Denmark
Denmark is a Scandinavian country in Northern Europe. The countries of Denmark and Greenland, as well as the Faroe Islands, constitute the Kingdom of Denmark . It is the southernmost of the Nordic countries, southwest of Sweden and south of Norway, and bordered to the south by Germany. Denmark...
's leading financial services
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
companies with activities ranging from mortgage
Mortgage loan
A mortgage loan is a loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty through the granting of a mortgage which secures the loan...
, retail and investment banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
to insurance
Insurance
In law and economics, insurance is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for payment. An insurer is a company selling the...
and fixed income trading and asset management. In 2002 they formed a strategic alliance with Jyske Bank
Jyske Bank
Jyske Bank A/S is the third largest Danish bank in terms of market share.The headquarters are located in Silkeborg, and the Bank has offices, branches, or subsidiaries in Denmark, France, Germany, Gibraltar, the Netherlands, Switzerland, and the United Kingdom.Jyske Bank is number three in Denmark...
, which ultimately culminated in a spin-off of their joint IT services into a third and separate company, JN Data A/S
JN Data A/S
JN Data A/S is the Danish software arm of the financial conglomerate of Nykredit and Jyske Bank. It was founded in 2002 in the wake of the strategic alliance between the two concerns, and is based in Silkeborg. The company has about 240 employees....
.
The Nykredit Group is Denmark's largest mortgage provider with lending of DKK 622bn and a market share of 40.6% of total [Danish] mortgage lending at end-2004. Total Group lending (banking and mortgage banking) amounts to DKK 645bn equal to a market share of 32.8% at end-2004.
The Nykredit Group is therefore the second largest lender and the largest issuer of mortgage-backed securities
Mortgage-backed security
A mortgage-backed security is an asset-backed security that represents a claim on the cash flows from mortgage loans through a process known as securitization.-Securitization:...
in Denmark as well as one of the largest private bond issuers in Europe
Europe
Europe is, by convention, one of the world's seven continents. Comprising the westernmost peninsula of Eurasia, Europe is generally 'divided' from Asia to its east by the watershed divides of the Ural and Caucasus Mountains, the Ural River, the Caspian and Black Seas, and the waterways connecting...
.
Nykredit employs 4,000 people and presented a turnover
Revenue
In business, revenue is income that a company receives from its normal business activities, usually from the sale of goods and services to customers. In many countries, such as the United Kingdom, revenue is referred to as turnover....
for 2005 of approximately DKK 6,7bn.
In 2003 Nykredit bought Totalkredit, a mortgage lending institution whose products are distributed by 103 regional and local banks.
External links
- Nykredit.dk - Official Danish website.
- Nykredit.com - Official English website.