Press release -
KommuneKredit announces Interim Report 2018
The Board of Directors of KommuneKredit have today approved the Interim Report for 2018.
CEO Jens Lundager states: “KommuneKredit does not need to make a profit on our lending to municipalities and regions. Thus, our profitability is expressed through low interest rates rather than high earnings. We have had a satisfactory development in the first half of 2018. Required earnings has been below our expectations at the beginning of the year, expenses are in line with expectations, while the equity ratio was on the high side of the target at the end of the period.
Our lending is based on equal terms for all clients, regardless of geographical location. Total lending increased by DKK 3 billion in the first half of 2018.”
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KommuneKredit is an association, whose purpose is to provide lending to municipalities and regions and companies with a 100% municipal guarantee.
The association is the municipalities and regions own credit institution and exist solely for our clients.
