Nordax Holding AB Year-end and fourth quarter report 2014
Full-year 2014
(Numbers compared with full-year 2013)
- Operating income increased 21.8% to 817 MSEK (671)
- Profit before credit losses increased 18.2% to 468 MSEK (396)
- Net credit losses unchanged -114 MSEK (-114), credit loss level 1.2% (1.5%)
- Operating profit increased 25.5% to 354 MSEK (282)
- Vision Capital, Nordax’s principal shareholder, will evaluate strategic options in respect of its shareholding in Nordax. This may result in an initial public offering, although all options will be considered
- Synnöve Trygg elected non-executive Director of the Board.
Fourth quarter 2014
(Numbers compared with fourth quarter 2013)
- Operating income increased 9.5% to 207 MSEK (189)
- Profit before credit losses was 115 MSEK (116) impacted by enhancement of resources in compliance and risk management
- Net credit losses decreased to -27 MSEK (-37), credit loss level 1.1% (1.8%)
- Operating profit increased 15.8% to 88 MSEK (76)
- Restructuring of ownership increases capital cover ratio
- Nordax granted license to conduct banking business.
Volumes, capital and funding
(Numbers compared with December 31, 2013)
- New loans amounted to 3,843 MSEK (3,180)
- Lending to the general public increased 1,664 MSEK to 10,009 MSEK (8,345)
- Deposits increased 1,726 MSEK to 6,479 MSEK (4,753)
- Liquidity reserve 3,246 MSEK (1,807), liquidity coverage ratio 3.15 (3.85).
| KEY FIGURES | |||||
| Q4 2014 | Q3 2014 | Q4 2013 | FY 2014 | FY 2013 | |
| Common equity Tier 1 capital ratio % | 12.3 | 10.9 | 12.0 | 12.3 | 12.0 |
| Total capital ratio % | 13.9 | 12.5 | 14.5 | 13.9 | 14.5 |
| Return on equity % | 30 | 41 | 35 | 33 | 34 |
| Credit losses % | 1.1 | 1.1 | 1.8 | 1.2 | 1.5 |
| C/I-ratio % | 44 | 36 | 39 | 43 | 41 |
| Number of full time equivalents | 163 | 160 | 138 | 163 | 138 |
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