{
"documentInfo": {
"documentType": "https://xbrl.org/2021/xbrl-json",
"features": {
"xbrl:canonicalValues": true
},
"namespaces": {
"ifrs-full": "https://xbrl.ifrs.org/taxonomy/2022-03-24/ifrs-full",
"iso4217": "http://www.xbrl.org/2003/iso4217",
"realkreditdanmark": "http://rd.dk",
"scheme": "http://standards.iso.org/iso/17442",
"xbrl": "https://xbrl.org/2021"
},
"taxonomy": [
"http://rd.dk/RealkreditDanmark-2024-12-31.xsd"
]
},
"facts": {
"fact1305": {
"value": "22754000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RevenueFromInterest",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1306": {
"value": "16297000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:InterestExpense",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1341": {
"value": "22458000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:RevenueFromInterest",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1342": {
"value": "16201000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:InterestExpense",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1307": {
"value": "6457000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:NetInterestIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1308": {
"value": "931000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FeeAndCommissionIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1309": {
"value": "910000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FeeAndCommissionExpense",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1343": {
"value": "6257000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:NetInterestIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1344": {
"value": "906000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FeeAndCommissionIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1345": {
"value": "976000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FeeAndCommissionExpense",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1310": {
"value": "6478000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:NetInterestAndFeeIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1311": {
"value": "727000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:ValueAdjustments",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1312": {
"value": "95000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:MiscellaneousOtherOperatingIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1346": {
"value": "6187000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:NetInterestAndFeeIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1347": {
"value": "633000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:ValueAdjustments",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1348": {
"value": "84000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:MiscellaneousOtherOperatingIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1313": {
"value": "1008000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OperatingExpense",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1314": {
"value": "2000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DepreciationAndAmortisationExpense",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1315": {
"value": "333000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1349": {
"value": "1054000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OperatingExpense",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1350": {
"value": "1000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DepreciationAndAmortisationExpense",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1351": {
"value": "-114000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ImpairmentLossImpairmentGainAndReversalOfImpairmentLossDeterminedInAccordanceWithIFRS9",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1316": {
"value": "5957000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1318": {
"value": "1533000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1352": {
"value": "5963000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1354": {
"value": "1569000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxExpenseContinuingOperations",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1319": {
"value": "4424000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1355": {
"value": "4394000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1320": {
"value": "4424000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1356": {
"value": "4394000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1321": {
"value": "-6000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1322": {
"value": "-1000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1357": {
"value": "-65000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1358": {
"value": "-17000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1323": {
"value": "-5000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1359": {
"value": "-48000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1324": {
"value": "4419000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1360": {
"value": "4346000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1377": {
"value": "10802000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndBankBalancesAtCentralBanks",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1378": {
"value": "6826000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:LoansAndAdvancesToBanks",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1379": {
"value": "24367000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:BondsAtFairValue",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1380": {
"value": "27922000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:BondsAtAmortisedCost",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1410": {
"value": "8075000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndBankBalancesAtCentralBanks",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1411": {
"value": "3543000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:LoansAndAdvancesToBanks",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1412": {
"value": "16804000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:BondsAtFairValue",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1413": {
"value": "32773000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:BondsAtAmortisedCost",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1381": {
"value": "755539000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:MortgageLoansAtFairValue",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1414": {
"value": "753624000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:MortgageLoansAtFairValue",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1382": {
"value": "207000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinancialAssetsAtAmortisedCost",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1383": {
"value": "2000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1415": {
"value": "219000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinancialAssetsAtAmortisedCost",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1416": {
"value": "3000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinancialAssetsAtFairValueThroughProfitOrLossClassifiedAsHeldForTrading",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1384": {
"value": "2000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherPropertyPlantAndEquipment",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1417": {
"value": "3000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherPropertyPlantAndEquipment",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1385": {
"value": "166000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssets",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1386": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1387": {
"value": "13000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:AssetsTemporarilyTakenOver",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1388": {
"value": "1175000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherAssets",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1389": {
"value": "2000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Prepayments",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1418": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:CurrentTaxAssets",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1419": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DeferredTaxAssets",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1420": {
"value": "17000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:AssetsTemporarilyTakenOver",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1421": {
"value": "1201000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherAssets",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1422": {
"value": "1000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Prepayments",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1390": {
"value": "827023000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1423": {
"value": "816263000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Assets",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1391": {
"value": "3500000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:LiabilitiesDueToCentralBanks",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1392": {
"value": "762125000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1393": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1424": {
"value": "2000000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:LiabilitiesDueToCentralBanks",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1425": {
"value": "756509000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:FinancialLiabilitiesAtFairValueThroughProfitOrLossDesignatedAsUponInitialRecognition",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1426": {
"value": "117000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CurrentTaxLiabilities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1394": {
"value": "49000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1427": {
"value": "459000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DeferredTaxLiabilities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1395": {
"value": "6707000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherLiabilities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1428": {
"value": "6955000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherLiabilities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1396": {
"value": "772381000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:NetDebt",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1429": {
"value": "766040000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:NetDebt",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1397": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:DeferredTax",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1398": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:ReservesInEarlySeriesSubjectToReimbursement",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1430": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:DeferredTax",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1431": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:ReservesInEarlySeriesSubjectToReimbursement",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1399": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:Provisions",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1432": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:Provisions",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1400": {
"value": "630000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1401": {
"value": "48660000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:ReservesInSeries",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1402": {
"value": "952000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1433": {
"value": "630000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IssuedCapital",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1434": {
"value": "47276000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:ReservesInSeries",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1435": {
"value": "2317000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1436": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsBalance",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1403": {
"value": "4400000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsBalance",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1404": {
"value": "54642000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1437": {
"value": "50223000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1405": {
"value": "827023000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1438": {
"value": "816263000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:EquityAndLiabilities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1443": {
"value": "630000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-02T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1448": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1444": {
"value": "47276000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-02T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1455": {
"value": "3475000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1445": {
"value": "2317000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-02T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1462": {
"value": "949000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1446": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-02T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1469": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1447": {
"value": "50223000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-02T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1476": {
"value": "4424000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1449": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1450": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1456": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1457": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1463": {
"value": "-6000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1464": {
"value": "-1000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1470": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1471": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1477": {
"value": "-6000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1478": {
"value": "-1000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1451": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1452": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1458": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1465": {
"value": "-5000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1472": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1473": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1479": {
"value": "-5000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1459": {
"value": "3475000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1466": {
"value": "944000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1480": {
"value": "4419000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1453": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:TransferredFromToOtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1454": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1483": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsEquity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1460": {
"value": "-2091000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:TransferredFromToOtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1467": {
"value": "2091000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:TransferredFromToOtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1468": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1487": {
"value": "-4400000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsEquity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1474": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:TransferredFromToOtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1475": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1481": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:TransferredFromToOtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1482": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1491": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsEquity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1461": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1485": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsEquity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1489": {
"value": "4400000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsEquity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1484": {
"value": "630000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1486": {
"value": "48660000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1488": {
"value": "952000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1490": {
"value": "4400000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1492": {
"value": "54642000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1493": {
"value": "630000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-02T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1498": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1494": {
"value": "45171000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-02T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1505": {
"value": "3568000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1495": {
"value": "76000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-02T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1512": {
"value": "826000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1496": {
"value": "3600000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-02T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1519": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1497": {
"value": "49477000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-02T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1526": {
"value": "4394000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1499": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1500": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1506": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1507": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1513": {
"value": "-65000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1514": {
"value": "-17000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1520": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1521": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1527": {
"value": "-65000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncomeBeforeTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1528": {
"value": "-17000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1501": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1502": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1508": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1515": {
"value": "-48000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1522": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1523": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1529": {
"value": "-48000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1509": {
"value": "3568000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1516": {
"value": "778000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1530": {
"value": "4346000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ComprehensiveIncome",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1503": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:TransferredFromToOtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1504": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1533": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsEquity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1510": {
"value": "-1463000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:TransferredFromToOtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1517": {
"value": "1463000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:TransferredFromToOtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1524": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:TransferredFromToOtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1525": {
"value": "3600000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1539": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsEquity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1531": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:TransferredFromToOtherReserves",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1532": {
"value": "3600000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1541": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsEquity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1511": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1535": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsEquity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1518": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DividendsPaid",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1537": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:ProposedDividendsEquity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1534": {
"value": "630000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:IssuedCapitalMember",
"unit": "iso4217:DKK"
}
},
"fact1536": {
"value": "47276000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ReservesInSeriesMember",
"unit": "iso4217:DKK"
}
},
"fact1538": {
"value": "2317000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:OtherReservesMember",
"unit": "iso4217:DKK"
}
},
"fact1540": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "realkreditdanmark:ProposedDividendMember",
"unit": "iso4217:DKK"
}
},
"fact1542": {
"value": "50223000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:Equity",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"ifrs-full:ComponentsOfEquityAxis": "ifrs-full:EquityAttributableToOwnersOfParentMember",
"unit": "iso4217:DKK"
}
},
"fact1545": {
"value": "Realkredit Danmark Group \u00a0
31 December \u00a0
31 December \u00a0
(DKK millions) \u00a0
2024 \u00a0
2023 \u00a0
Total capital and Total capital ratio \u00a0
Shareholders\u00b4 equity \u00a0
54,642 \u00a0
50,223 \u00a0
Proposed dividends \u00a0
-4,400 \u00a0
-
Deferred tax assets \u00a0
-
-
Prudent valuation \u00a0
-7 \u00a0
-8 \u00a0
Minimum Loss Coverage for Non-Performing Exposures \u00a0
-374 \u00a0
-223 \u00a0
Defined benefit pension fund assets \u00a0
-81 \u00a0
-90 \u00a0
Common equity tier 1 capital \u00a0
49,780 \u00a0
49,902 \u00a0
Difference between expected losses and impairment charges \u00a0
-
-
Tier 1 capital \u00a0
49,780 \u00a0
49,902 \u00a0
Reserves in series subject to a reimbursement obligation \u00a0
-
-
Difference between expected losses and impairment charges \u00a0
-
654 \u00a0
Total capital \u00a0
49,780 \u00a0
50,556 \u00a0
Risk exposure amount \u00a0
156,269 \u00a0
160,244 \u00a0
Common equity tier 1 capital ratio (%) \u00a0
31.9 \u00a0
31.1 \u00a0
Tier 1 capital ratio (%) \u00a0
31.9 \u00a0
31.1 \u00a0
Total capital ratio (%) \u00a0
31.9 \u00a0
31.5 \u00a0
At end-2024, total capital and the total risk exposure amount are calculated in accordance with the Capital Requirements Regulation (CRR/CRD). \u00a0
The solvency need calculation is described in more detail on rd.dk. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIssuedCapitalExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1546": {
"value": "At end-2024, total capital and the total risk exposure amount are calculated in accordance with the Capital Requirements Regulation (CRR/CRD). \u00a0
The solvency need calculation is described in more detail on rd.dk. \u00a0
Risk exposure amount (REA) \u00a0
Credit risk (IRB approach) \u00a0
129,325 \u00a0
131,784 \u00a0
129,186 \u00a0
131,614 \u00a0
Credit risk (standardised approach) \u00a0
17,383 \u00a0
18,671 \u00a0
17,509 \u00a0
18,791 \u00a0
Counterparty risk \u00a0
146 \u00a0
125 \u00a0
146 \u00a0
125 \u00a0
Total credit risk \u00a0
146,854 \u00a0
150,580 \u00a0
146,841 \u00a0
150,530 \u00a0
Market risk \u00a0
358 \u00a0
372 \u00a0
358 \u00a0
372 \u00a0
Operational risk \u00a0
9,057 \u00a0
9,292 \u00a0
9,057 \u00a0
9,292 \u00a0
Total \u00a0
156,269 \u00a0
160,244 \u00a0
156,256 \u00a0
160,194 \u00a0
The total capital and tier 1 capital ratios are calculated in accordance with the CRR/CRD. \u00a0
rd.dk provides more details about Realkredit Danmark\u2019s solvency need. The solvency need calculation is not covered by the statutory audit. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1317": {
"value": "5957000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1353": {
"value": "5963000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:ProfitLossBeforeTax",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1325": {
"value": "2000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1326": {
"value": "230000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1361": {
"value": "1000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForDepreciationAndAmortisationExpense",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1362": {
"value": "-174000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1327": {
"value": "1827000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1363": {
"value": "1011000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncomeTaxesPaidRefundClassifiedAsOperatingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1328": {
"value": "4362000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1364": {
"value": "4779000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1329": {
"value": "-2588000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:ChangesInHoldingOfBonds",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1330": {
"value": "11589000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:MortgageLoans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1331": {
"value": "8702000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:IssuedBondsAtAmortisedCostAndFairValue",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1332": {
"value": "1500000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:DjustmentsForDueToCreditInstitutionsAndCentralBanks",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1333": {
"value": "-151000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherAdjustmentsToReconcileProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1365": {
"value": "-2362000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:ChangesInHoldingOfBonds",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1366": {
"value": "-4131000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:MortgageLoans",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1367": {
"value": "-7211000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:IssuedBondsAtAmortisedCostAndFairValue",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1368": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "realkreditdanmark:DjustmentsForDueToCreditInstitutionsAndCentralBanks",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1369": {
"value": "960000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:OtherAdjustmentsToReconcileProfitLoss",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1334": {
"value": "6010000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1370": {
"value": "6457000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInOperatingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1335": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1336": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1371": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1372": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1337": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1373": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInInvestingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1338": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1339": {
"value": "0.0",
"decimals": 0,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1374": {
"value": "3600000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:DividendsPaidClassifiedAsFinancingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1375": {
"value": "-3600000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashFlowsFromUsedInFinancingActivities",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1543": {
"value": "11618000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-02T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1340": {
"value": "6010000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1544": {
"value": "8761000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-02T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1376": {
"value": "2857000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:IncreaseDecreaseInCashAndCashEquivalents",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2023-01-01T00:00:00/2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1406": {
"value": "17628000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1439": {
"value": "11618000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1408": {
"value": "10802000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:CashAndDepositByCentralBanks",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1441": {
"value": "8075000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:CashAndDepositByCentralBanks",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1409": {
"value": "6826000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:AmountsDueFromCreditInstitutionsAndCentralBanksWithin3Months",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1442": {
"value": "3543000000.0",
"decimals": -6,
"dimensions": {
"concept": "realkreditdanmark:AmountsDueFromCreditInstitutionsAndCentralBanksWithin3Months",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1407": {
"value": "17628000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2025-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1440": {
"value": "11618000000.0",
"decimals": -6,
"dimensions": {
"concept": "ifrs-full:CashAndCashEquivalents",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00",
"unit": "iso4217:DKK"
}
},
"fact1547": {
"value": "MATERIAL ACCOUNTING POLICIES \u00a0
General \u00a0
Realkredit Danmark prepares its consolidated financial statements \u00a0
in accordance with International Financial Reporting Standards \u00a0
(IFRS Accounting Standards) and applicable interpretations \u00a0
(IFRIC) issued by the International Accounting Standards Board \u00a0
(IASB), as adopted by the EU. Furthermore, the consolidated finan- \u00a0
cial statements comply with the Danish FSA\u2019s executive order No. \u00a0
1306 dated 16 December 2008 on the use of IFRS Accounting \u00a0
Standards by undertakings subject to the Danish Financial Business \u00a0
Act. \u00a0
Changes to material accounting policies \u00a0
Amendments to IFRS 7 and IAS 7 (supplier finance arrangements), \u00a0
IFRS 16 (sale and leaseback transactions), and IAS 1 (classification \u00a0
of liabilities; liabilities with covenants) became effective for the \u00a0
period beginning 1 January 2024. The amendments had no impact \u00a0
on the financial statements. \u00a0
The accounting policies are unchanged from those applied in An- \u00a0
nual Report 2023. \u00a0
For the purpose of clarity, the notes to the financial statements are \u00a0
prepared using the concepts of materiality and relevance. This \u00a0
means that information not considered material in terms of quanti- \u00a0
tative and qualitative measures or relevant to financial statement \u00a0
users is not presented in the notes. \u00a0
Significant accounting estimates and judgements \u00a0
The preparation of financial information requires, in some cases, \u00a0
the use of judgements and estimates by management. This includes \u00a0
judgements made when applying accounting policies. The most sig- \u00a0
nificant judgements made when applying accounting policies relate \u00a0
to the fair value measurement of mortgage loans. \u00a0
Further, the carrying amounts of some assets and liabilities requires \u00a0
the estimation of the effects of uncertain future events on those as- \u00a0
sets and liabilities. The estimates are based on premises that man- \u00a0
agement finds reasonable but which are inherently uncertain and \u00a0
unpredictable. The premises may be incomplete, unexpected future \u00a0
events or situations may occur, and other parties may arrive at other \u00a0
estimated values. In view of the inherent uncertainties and the high \u00a0
level of subjectivity and judgement involved in the recognition and \u00a0
measurement of the following items, it is possible that the out- \u00a0
comes in the next financial year could differ from those on which \u00a0
management\u2019s estimates are based. \u00a0
Fair value measurement of mortgage loans \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on borrowers. In addition to the expected \u00a0
credit losses, a collective assessment determines the need for adjust- \u00a0
ments to reflect other components in the fair value measurement, \u00a0
such as an assessment of an investor\u2019s risk premium, compensation \u00a0
for administrative costs related to the loans and the possibility to in- \u00a0
crease the credit margin if the credit risk increases. \u00a0
The fair value of the credit risk on the borrower is based on the ex- \u00a0
pected credit loss impairment model in IFRS 9, which depends on \u00a0
whether the credit risk has increased significantly since initial \u00a0
recognition. If the credit risk has not increased significantly, the im- \u00a0
pairment charge equals the expected credit losses resulting from de- \u00a0
fault events that are possible within the next 12 months (stage 1). If \u00a0
the credit risk has increased significantly, the loan is more than 30 \u00a0
days past due, or the loans is in default or otherwise impaired, the \u00a0
impairment charge equals the lifetime expected credit losses (stages \u00a0
2 and 3). \u00a0
In determining the impairment for expected credit losses, manage- \u00a0
ment exercises judgement and uses estimates and assumptions. The \u00a0
expected credit loss is calculated for all individual loans as a func- \u00a0
tion of PD (probability of default), EAD (exposure at default) and \u00a0
LGD (loss given default) and incorporates forward-looking infor- \u00a0
mation. The estimation of expected credit losses involves forecast- \u00a0
ing future economic conditions over a number of years. Such fore- \u00a0
casts are subject to management judgement and those judgements \u00a0
may be sources of measurement uncertainty that have significant \u00a0
risk of resulting in a material adjustment to a carrying amount in fu- \u00a0
ture periods. \u00a0
The incorporation of forward-looking elements reflects the expecta- \u00a0
tions of the Group\u2019s senior management and involves the creation \u00a0
of scenarios (base case, upside and downside), including an assess- \u00a0
ment of the probability for each scenario. The purpose of using \u00a0
multiple scenarios is to model the non-linear impact of assumptions \u00a0
about macroeconomic factors on the expected credit losses. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. That is, after the \u00a0
forecast period, the macroeconomic scenarios revert slowly towards \u00a0
a steady state. \u00a0
The applied scenarios that drive the expected credit loss calculation \u00a0
in the fourth quarter of 2024 have been updated with the latest mac- \u00a0
roeconomic data. Compared to the end of 2023, the base case and \u00a0
upside scenarios have been revised to reflect expectations of lower \u00a0
inflation, decreasing interest rates, improved house prices and im- \u00a0
proved growth momentum. \u00a0
The base case is an extension of the Group\u2019s official view of the \u00a0
Nordic economies (the Nordic Outlook report). At 31 December \u00a0
2024, the base case scenario reflects a soft landing with economic \u00a0
growth moving toward normalised levels. Inflation is coming down \u00a0
quickly, and fairly rapid interest cuts are consequently expected. \u00a0
The Nordic property markets have generally recovered, and price \u00a0
increases are expected, as consumers regain purchasing power. \u00a0
The upside scenario represents a slightly better outlook than the \u00a0
base case scenario across the macroeconomic parameters. In this \u00a0
scenario, it is predominantly the European businesses\u2019 profit mar- \u00a0
gins and not prices that absorb the adjustment to higher wage costs \u00a0
and inflation returns more sustainably to target than in the base \u00a0
case. Central banks no longer hesitate to cut interest rates and all \u00a0
Nordic central banks loosen policies a bit quicker than in the base \u00a0
case. This boosts consumer sentiment, increasing private consump- \u00a0
tion and strengthening the housing market. \u00a0
The downside scenario is a severe recession with high interest rates \u00a0
scenario (reflecting a stagflation scenario) applied in the Group\u2019s \u00a0
ICAAP processes, which is similar in nature to regulatory stress \u00a0
tests. The severe recession scenario reflects negative growth, in- \u00a0
creasing interest rates, and falling property prices for a longer pe- \u00a0
riod. The use of the downside scenario was introduced to better cap- \u00a0
ture the elevated risk from high interest rates and high inflation. A \u00a0
trigger of the economic setback could be continued macroeconomic \u00a0
worsening and challenges linked to high business costs while infla- \u00a0
tion remain elevated. This adversely impacts the labour market, re- \u00a0
sults in higher and more persistent unemployment. This would lead \u00a0
to a severe slowdown in the economies in which the Group is repre- \u00a0
sented. \u00a0
The scenario weighting is unchanged from 2023. The weight on the \u00a0
base case scenario is 60% (60% in 2023), the upside scenario is \u00a0
weighted 20% (20% in 2023), and the downside scenario is \u00a0
weighted 20% (20% in 2023). \u00a0
At the end of 2024, the fair value adjustment of the credit risk on \u00a0
mortgage loans was calculated at DKK 2,837 million (2023: \u00a0
DKK 2,656 million), reducing the value of mortgage loans. The \u00a0
base case scenario enters with a probability of 60% (2023: 60%), \u00a0
the downside scenario with a probability of 20% (2023: 20%) and \u00a0
the upside scenario with a probability of 20% (2023: 20%). If the \u00a0
base case scenario was assigned a probability of 100%, the fair \u00a0
value adjustment at end-2024 would be DKK 2,375 million (2023: \u00a0
DKK 2,450 million). The fair value adjustment at the end of 2024 \u00a0
would increase to DKK 4,750 million (2023: DKK 4,225 million) if \u00a0
the downside scenario was assigned a probability of 100%. If in- \u00a0
stead the upside scenario was assigned a probability of 100%, the \u00a0
fair value adjustment would decrease to DKK 2,325 million (2023: \u00a0
DKK 2,400 million). \u00a0
According to the Group\u2019s definition of a significant increase in \u00a0
credit risk, i.e. when a loan is transferred from stage 1 to stage 2, \u00a0
loans with an initial PD below 1% are transferred to stage 2 if the \u00a0
loan\u2019s 12-month PD has increased by at least 0.5 of a percentage \u00a0
point and the loan\u2019s lifetime PD has doubled since origination. The \u00a0
allowance account is relatively stable in terms of changes to the def- \u00a0
inition of significant increase in credit risk. At 31 December 2024, \u00a0
the allowance account would increase by DKK 30 million (2023: \u00a0
DKK 25 million), if instead an increase in the loan\u2019s 12-month PD \u00a0
by at least 0.25 of a percentage point combined with a doubling of \u00a0
the lifetime PD was considered a significant increase in credit risk. \u00a0
Management applies judgement when determining the need for \u00a0
post-model adjustments. At the end of 2024, the post-model adjust- \u00a0
ments amounted to DKK 1,149 million (2023: DKK 1,241 million). \u00a0
The adjustments cover for instance specific macroeconomic risks on \u00a0
certain industries that are not specifically captured by the expected \u00a0
credit loss model e.g. effects from climate risk or the macroeco- \u00a0
nomic uncertainty. The total balance of post-model adjustments has \u00a0
been reduced slightly compared to end of 2023 mainly due to the \u00a0
improved macroeconomic outlook. \u00a0
Consolidation \u00a0
Group undertakings \u00a0
The financial statements consolidate the parent company and group \u00a0
undertakings in which the Group has control. Control exists if \u00a0
Realkredit Danmark A/S is exposed to variable returns from the en- \u00a0
tity and, directly or indirectly, holds more than half of the voting \u00a0
rights in an undertaking or otherwise has power to control manage- \u00a0
ment and operating policy decisions affecting the variable returns. \u00a0
The consolidated financial statements are prepared by consolidating \u00a0
items of the same nature and eliminating intra-group transactions, \u00a0
balances and trading profits and losses. \u00a0
Segment reporting \u00a0
Realkredit Danmark operates two primary business segments, mort- \u00a0
gage finance and a proprietary portfolio. The business segments are \u00a0
based on ongoing internal reporting of customer-facing activities \u00a0
(mortgage finance) and risk management (proprietary portfolio). \u00a0
The part of the bond portfolio that is not related to mortgage lend- \u00a0
ing operations is managed under the proprietary portfolio segment. \u00a0
Translation of transactions in foreign currencies \u00a0
The presentation currency of the consolidated financial statements \u00a0
is Danish kroner, which is the functional currency of Realkredit \u00a0
Danmark. \u00a0
Transactions in foreign currencies are translated into Danish kroner \u00a0
using the exchange rates applicable on the transaction date. Gains \u00a0
and losses on exchange rate differences arising between the transac- \u00a0
tion date and the settlement date are recognised in the income state- \u00a0
ment. \u00a0
Monetary assets and liabilities in foreign currency are translated at \u00a0
the exchange rates at the balance sheet date. Exchange rate adjust- \u00a0
ments of monetary assets and liabilities arising as a result of differ- \u00a0
ences in the exchange rates at the transaction date and at the balance \u00a0
sheet date are recognised in the income statement. \u00a0
Financial instruments \u2013 general \u00a0
Regular way purchases and sales of financial instruments are recog- \u00a0
nised and derecognised at the settlement date. Fair value adjust- \u00a0
ments of unsettled financial instruments are recognised from the \u00a0
trade date to the settlement date for financial instruments subse- \u00a0
quently recognised at fair value over profit or loss. \u00a0
Classification \u00a0
Financial assets are classified at initial recognition on the basis of \u00a0
the company\u2019s business model adopted for managing the assets and \u00a0
on their contractual cash flow characteristics (including embedded \u00a0
derivatives, if any) into one of the following measurement catego- \u00a0
ries: \u00a0
\u2022
Amortised cost if the assets are held exclusively for the \u00a0
purpose of collecting contractual cash flows and if the cash \u00a0
flows are payments of principal and interest on the princi- \u00a0
pal amount outstanding solely. \u00a0
\u2022
Fair value through other comprehensive income if the as- \u00a0
sets are held for the purpose of both collecting contractual \u00a0
cash flows and selling and if cash flows are payments of \u00a0
principal and interest on the principal amount outstanding \u00a0
solely. The Group has no financial assets in this category. \u00a0
\u2022
Fair value through profit or loss for all other financial as- \u00a0
sets. \u00a0
At initial recognition, a financial liability is assigned to one of the \u00a0
following categories: \u00a0
\u2022
Issued mortgage bonds are designated at fair value through \u00a0
profit or loss using the fair value option of IFRS 9 in order \u00a0
not to create an accounting mismatch that would otherwise \u00a0
arise. See below. \u00a0
\u2022
Other financial liabilities, including \u201cSenior debt\u201d meas- \u00a0
ured at amortised cost. \u00a0
Mortgage loans and issued mortgage bonds at fair value through \u00a0
profit or loss (FVPL) \u00a0
Mortgage loans granted under Danish mortgage finance law are \u00a0
funded by issuing listed mortgage bonds with matching terms. Bor- \u00a0
rowers may repay such mortgage loans by delivering the underly- \u00a0
ing bonds. This represents an option to prepay at the fair value of \u00a0
the underlying bonds, which can be both above and below the prin- \u00a0
cipal amount plus accrued interest. Such an option is not consistent \u00a0
with the solely payments of principal and interest test (SPPI test) in \u00a0
IFRS 9, as changes in the fair value of the underlying bonds reflect \u00a0
other factors than interest rate developments. Consequently, regard- \u00a0
less of the fact that the business model is to receive the contractual \u00a0
cash flows, such loans are mandatorily recognised at fair value \u00a0
through profit or loss. \u00a0
If the issued mortgage bonds are valued at amortised cost, and the \u00a0
mortgage loans, which are funded by the issued mortgage bonds \u00a0
with matching terms, are valued at fair value through profit or loss, \u00a0
a timing difference will arise in the recognition of gains and losses \u00a0
in the financial statements. \u00a0
To eliminate this random timing difference in the recognition of \u00a0
gains and losses, both mortgage loans and issued mortgage bonds \u00a0
are valued at fair value through profit or loss (for the issued bonds \u00a0
by using the fair value option of IFRS 9). \u00a0
The fair value of the mortgage loans is based on the fair value of \u00a0
the underlying mortgage bonds adjusted for the credit risk on bor- \u00a0
rower/the Group\u2019s customer. This entails that the fair value adjust- \u00a0
ment of the mortgage loans in all material respects balance out the \u00a0
fair value adjustment of the issued bonds. Consequently, the total \u00a0
fair value adjustment of the issued mortgage bonds, including the \u00a0
proportion relating to own credit risk, is recognised in the income \u00a0
statement, as recognition of the fair value adjustment of own credit \u00a0
risk in other comprehensive income would lead to an accounting \u00a0
mismatch in the income statement. \u00a0
The fair value adjustment of the mortgage loans and the issued \u00a0
mortgage bonds is recognised under Value adjustments, except for \u00a0
the part of the value adjustment that concerns the credit risk on \u00a0
mortgage loans: this part is recognised under Loan impairment \u00a0
charges. \u00a0
The table below shows the distribution of the Group\u2019s financial instruments by valuation method: \u00a0
Fair value through profit or loss \u00a0
Managed on fair- \u00a0
Due to \u00a0
Amortised cost \u00a0
Trading portfolio \u00a0
value basis \u00a0
SPPI test \u00a0
Designated \u00a0
Total \u00a0
Assets \u00a0
Cash in hand and demand deposits \u00a0
with central banks \u00a0
10,802 \u00a0
-
-
-
-
10,802 \u00a0
Due from credit institutions and \u00a0
central banks \u00a0
6,826 \u00a0
-
-
-
-
6,826 \u00a0
Bonds \u00a0
27,922 \u00a0
-
24,367 \u00a0
-
-
52,289 \u00a0
Loans \u00a0
207 \u00a0
-
-
755,539 \u00a0
-
755,746 \u00a0
Shares \u00a0
-
-
2
-
-
2
Derivatives (Other assets) \u00a0
-
22 \u00a0
-
-
-
22 \u00a0
Total assets, 31 December 2024 \u00a0
45,757 \u00a0
22 \u00a0
24,369 \u00a0
755,539 \u00a0
-
825,687 \u00a0
Total assets, 31 December 2023 \u00a0
44,610 \u00a0
29 \u00a0
16,807 \u00a0
753,624 \u00a0
-
815,070 \u00a0
Liabilities \u00a0
Due to credit institutions and central \u00a0
banks \u00a0
3,500 \u00a0
-
-
-
-
3,500 \u00a0
Issued bonds \u00a0
-
-
-
-
762,125 \u00a0
762,125 \u00a0
Derivatives (Other liabilities) \u00a0
-
9
-
-
-
9
Total liabilities, 31 December 2024 \u00a0
3,500 \u00a0
9
-
-
762,125 \u00a0
765,634 \u00a0
Total liabilities, 31 December 2023 \u00a0
2,000 \u00a0
186 \u00a0
-
-
756,509 \u00a0
758,695 \u00a0
BALANCE SHEET \u00a0
Bonds at fair value \u00a0
At initial recognition, these bonds are measured at fair value, ex- \u00a0
cluding transaction costs. Subsequently, bonds are measured at fair \u00a0
value through profit or loss. The bonds form part of a portfolio, \u00a0
which is managed on a fair value basis. \u00a0
If an active market exists, fair value is based on the most recently \u00a0
observed market price at the balance sheet date. \u00a0
If a bond is quoted in a market that is not active, the Group bases its \u00a0
measurement on the most recent transaction price. Adjustment is \u00a0
made for subsequent changes in market conditions, for instance by \u00a0
including transactions in similar bonds that are motivated by normal \u00a0
business considerations. \u00a0
If no active market exists, fair value is estimated on the basis of \u00a0
generally accepted valuation techniques and market-based parame- \u00a0
ters. \u00a0
Bonds at amortised cost \u00a0
Realkredit Danmark has a bond portfolio held for the purpose of \u00a0
generating a known return until maturity. The bonds are measured \u00a0
at amortised cost. Interest rate risk is not hedged. Impairment \u00a0
charges are made for expected credit losses on the basis of a classi- \u00a0
fication of the bonds into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for bonds in stage 1 and the \u00a0
present value of lifetime expected credit losses for bonds in stages 2 \u00a0
and 3, cf. the description below in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. For calculating the present \u00a0
value of expected credit losses for discounting purposes, the origi- \u00a0
nal effective interest rate is used instead of the current interest rate. \u00a0
Mortgage loans and Issued mortgage bonds at fair value \u00a0
At initial recognition, mortgage loans and issued mortgage bonds \u00a0
are measured at fair value, excluding transaction costs. Subse- \u00a0
quently, these financial instruments are measured at fair value \u00a0
through profit or loss. \u00a0
The fair value of the issued mortgage bonds will usually equal the \u00a0
quoted market price. However, a small part of the issued bonds are \u00a0
illiquid, and the fair value of these bonds is calculated on the basis \u00a0
of a discounted cash flow valuation model. \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on the borrowers. The IFRS 13 estimate of \u00a0
the fair value of the expected credit losses is calculated on the basis \u00a0
of the IFRS 9 model for calculating impairment of losses on loans \u00a0
at amortised cost: expected credit losses, including the classifica- \u00a0
tion of loans between stages 1, 2 and 3: \u00a0
Stage 1: If the credit risk has not increased significantly, the impair- \u00a0
ment equals the expected credit losses resulting from default events \u00a0
that are possible within the next 12 months, see however below on \u00a0
the collective assessment of the need for further adjustments. \u00a0
Stage 2: If the credit risk has increased significantly, the loan is \u00a0
transferred to stage 2 and an impairment charge equal to the life- \u00a0
time expected credit losses is recognised. A significant credit risk \u00a0
increase is considered to occur when the following increase in the \u00a0
probability of default (PD) is observed: \u00a0
\u2022
For loans originated below 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of at least 0.5 of a percentage point \u00a0
since origination and a doubling of the loan\u2019s lifetime PD \u00a0
since origination \u00a0
\u2022
For loans originated above 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of 2 percentage points since origination \u00a0
or a doubling of the loan\u2019s lifetime PD since origination \u00a0
\u2022
Further, loans that are more than 30 days past due are moved \u00a0
from stage 1 to stage 2. Finally, customers subject to forbear- \u00a0
ance measures are placed in stage 2, if the Group, in the most \u00a0
likely outcome, expects no loss or the customers are in the 2- \u00a0
year probation period for performing forborne exposures. \u00a0
Stage 3: If the loan is in default, it is transferred to stage 3. A facil- \u00a0
ity becomes credit-impaired when one or more events that have a \u00a0
detrimental impact on the estimated future cash flows have oc- \u00a0
curred. This includes observable data about (a) significant financial \u00a0
difficulty of the borrower; (b) a breach of contract, such as a default \u00a0
or past due event; (c) the borrower, for reasons relating to the bor- \u00a0
rower\u2019s financial difficulty, is granted a concession; (d) it is proba- \u00a0
ble that the borrower will enter into bankruptcy. Credit-impaired fa- \u00a0
cilities are placed in Realkredit Danmark\u2019s rating category 11. For \u00a0
rating category 11, all exposures are classified as stage 3. The \u00a0
Realkredit Danmark Group uses the option to continue to recognise \u00a0
interest income on mortgage loans measured at fair value on the ba- \u00a0
sis of the contractual interest rates. \u00a0
A definition of default is used in the measurement of expected \u00a0
credit losses and the assessment to determine movements between \u00a0
stages. The definition of default is also used for internal credit risk \u00a0
management and capital adequacy purposes. To support a more har- \u00a0
monised approach regarding the application of the definition of de- \u00a0
fault, the European Banking Authority (EBA) issued the following \u00a0
products that guide the application of the definition of default: the \u00a0
Guidelines on the application of the definition of default, \u00a0
EBA/GL/2016/07 and the Regulatory Technical Standards (RTS) \u00a0
on the materiality threshold for credit obligations past due, \u00a0
EBA/RTS/2016/06. \u00a0
The Group\u2019s definition of default for accounting purposes aligns \u00a0
with the regulatory purposes. All exposures that are considered de- \u00a0
fault are also considered Stage 3 exposures. This is applicable for \u00a0
exposures that are default due to either the 90 days past due default \u00a0
trigger or the unlikeliness to pay default triggers. \u00a0
The expected credit loss is calculated for all individual loans as a \u00a0
function of the probability of default (PD), the exposure at default \u00a0
(EaD) and the loss given default (LGD). \u00a0
The lifetime expected credit losses cover the expected remaining \u00a0
lifetime of the loan. For most loans, the expected lifetime is limited \u00a0
to the remaining contractual maturity and adjusted for expected pre- \u00a0
payment. For exposures with weak credit quality, the likelihood of \u00a0
prepayment is not included. \u00a0
The forward-looking elements of the calculation reflect the current \u00a0
expectations of senior management. The Danske Bank Group\u2019s inde- \u00a0
pendent macroeconomic research unit creates three macroeconomic \u00a0
scenarios (base case, upside and downside), including an assessment \u00a0
of the probability for each scenario. The purpose of using multiple \u00a0
scenarios is to model the non-linear impact of assumptions about \u00a0
macroeconomic factors on the expected credit losses. Afterwards \u00a0
there is a process to ensure review and sign-off of the scenarios. \u00a0
Management\u2019s approval of scenarios can include adjustments to the \u00a0
scenarios or to which scenarios are used, the assigned probability \u00a0
weighting and post-model adjustments to cover the outlook for par- \u00a0
ticular high-risk portfolios, which are not provided by the Group\u2019s \u00a0
macroeconomists. The approved scenarios are used to calculate the \u00a0
impairment levels. Technically, the forward-looking information is \u00a0
used directly in the PDs through an estimate of general changes to \u00a0
the PDs and the LGDs in the expected credit loss calculation. How- \u00a0
ever, for significant exposures in stage 3, an individual assessment \u00a0
of the scenarios, changes to expected credit losses and the related \u00a0
probabilities are performed by senior credit officers. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. The base case is \u00a0
based on the macroeconomic outlook as disclosed in the Danske \u00a0
Bank Group\u2019s Nordic Outlook reports. \u00a0
In addition, a collective assessment determines the need for further \u00a0
adjustments to reflect other components in the fair value measure- \u00a0
ment, such as an assessment of an investor\u2019s risk premium, compen- \u00a0
sation for administrative costs related to the loans and the possibility \u00a0
of increasing the credit margin if the credit risk increases. This as- \u00a0
sessment also takes into consideration the fact that initial recogni- \u00a0
tion of 12-month expected credit losses is not in accordance with \u00a0
fair value, and the fact that the expected credit losses during the life- \u00a0
time of the asset should be included in the assessment even if the \u00a0
credit risk has not increased significantly. \u00a0
Loans considered uncollectible are written off. Write-offs are deb- \u00a0
ited to the allowance account. Loans are written off once the usual \u00a0
collection procedure has been completed and the loss on the individ- \u00a0
ual loan can be calculated. \u00a0
Due from credit institutions and central banks and Loans and \u00a0
other amounts due at amortised cost \u00a0
Amounts due from credit institutions and central banks comprise \u00a0
amounts due from other credit institutions and time deposits with \u00a0
central banks. Reverse transactions (purchases of securities from \u00a0
credit institutions and central banks that the Group agrees to resell \u00a0
at a later date) are recognised as Amounts due from credit institu- \u00a0
tions and central banks with collateral in the securities received. Re- \u00a0
verse transactions are made on standard terms and conditions. \u00a0
These financial assets are held for the purpose of achieving the con- \u00a0
tractual return until expiry and have contractual cash flows reflect- \u00a0
ing repayment of principal and interest thereon. Loans and other \u00a0
amounts due are therefore carried at amortised cost and consist of \u00a0
mortgage payments due and other outlays relating to mortgage loans \u00a0
as well as claims against individual borrowers and reserve fund \u00a0
mortgages, etc. \u00a0
Impairments are made for expected credit losses on the basis of a \u00a0
classification of the loans into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for loans in stage 1 and the \u00a0
present value of lifetime expected credit losses for loans in stages 2 \u00a0
and 3, cf. the description above in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. \u00a0
Assets temporarily taken over \u00a0
Assets temporarily taken over include tangible assets, which accord- \u00a0
ing to a publicly announced plan, the Group expects to sell within \u00a0
twelve months. Such assets are measured at the lower of their carry- \u00a0
ing amount at the time of classification and their fair value less ex- \u00a0
pected costs to sell and are no longer depreciated. \u00a0
Properties taken over in connection with non-performing loans and \u00a0
which are likely to be sold within 12 months are presented under \u00a0
Assets temporarily taken over. Subsequent fair value adjustments \u00a0
and gains or losses on disposal are recognised under Loan impair- \u00a0
ment charges. \u00a0
Other assets \u00a0
Pension assets \u00a0
The Group\u2019s pension obligations generally consist of defined contri- \u00a0
bution pension plans for its staff. Under the defined contribution \u00a0
plans, the Group pays regular contributions to insurance companies \u00a0
and other institutions. Such payments are expensed as they are \u00a0
earned by the staff, and the obligations under the plans are taken \u00a0
over by the insurance companies and other institutions. \u00a0
Furthermore, the Group operates a defined benefit plan maintained \u00a0
under Kreditforeningen Danmarks Pensionsafviklingskasse (pension \u00a0
fund). Realkredit Danmark A/S guarantees future payment of a de- \u00a0
fined benefit from the time of retirement. \u00a0
The pension fund and Realkredit Danmark\u2019s defined benefit plan \u00a0
have not accepted new members since 1971, so no pension contribu- \u00a0
tions are made. Accordingly, there are no service costs. \u00a0
The amounts payable are recognised on the basis of an actuarial \u00a0
computation of the present value of expected benefits. The present \u00a0
value is calculated on the basis of expected future trends in salaries \u00a0
and interest rates, time of retirement, mortality rate and other fac- \u00a0
tors. \u00a0
The fair value of pension assets less the present value of pension \u00a0
benefits is carried as a pension asset under Other assets in the bal- \u00a0
ance sheet. \u00a0
Due to credit institutions and central banks \u00a0
Due to credit institutions and central banks include amounts re- \u00a0
ceived under repo transactions. These deposits are recognised as \u00a0
debt with collateral in the securities surrendered. Repo transactions \u00a0
are made on standard terms and conditions. Amounts due to credit \u00a0
institutions and central banks are measured at amortised cost. \u00a0
Deferred tax assets/Deferred tax liabilities \u00a0
Deferred tax on all temporary differences between the tax base of \u00a0
assets and liabilities and their carrying amounts is accounted for in \u00a0
accordance with the balance sheet liability method. Deferred tax is \u00a0
recognised under Deferred tax assets or Deferred tax liabilities. \u00a0
Deferred tax is measured on the basis of the tax regulations and \u00a0
rates that, according to the rules in force at the balance sheet date, \u00a0
will apply at the time the deferred tax is expected to crystallise as \u00a0
current tax. Changes in deferred tax as a result of adopted changes \u00a0
in tax rates are recognised in the income statement based on ex- \u00a0
pected cash flows. \u00a0
Current tax assets/Current tax liabilities \u00a0
Current tax assets and liabilities are recognised in the balance sheet \u00a0
as the estimated tax charge on the profit for the year adjusted for \u00a0
prepaid tax and prior-year tax payables and receivables. \u00a0
Tax assets and liabilities are offset if the Group has a legally en- \u00a0
forceable right to set off such assets and liabilities and intends either \u00a0
to settle the assets and liabilities on a net basis or to realise the as- \u00a0
sets and settle the liabilities simultaneously. \u00a0
Shareholders\u2019 equity \u00a0
Reserves in series \u00a0
Reserves in series comprise series established before 1972 with \u00a0
joint and several liability, series established after 1972 without joint \u00a0
and several liability, other series, including Danske Kredit and \u00a0
mortgage-covered bonds. \u00a0
Other reserves \u00a0
Other reserves comprise the mortgage credit business that is not in- \u00a0
cluded in reserves in series. \u00a0
Proposed dividends \u00a0
The Board of Directors\u2019 proposal for dividends for the year submit- \u00a0
ted to the general meeting is included as a separate reserve in share- \u00a0
holders\u2019 equity. The dividends are recognised as a liability when the \u00a0
general meeting has adopted the proposal. \u00a0
INCOME STATEMENT \u00a0
Interest income and expense \u00a0
Interest income and expenses include interest and administration \u00a0
margins on financial instruments measured at fair value. \u00a0
Fees and commission income and expense \u00a0
Income, including origination fees, from mortgage loans carried at \u00a0
fair value is recognised when the transaction is completed. \u00a0
Income and expenses for services provided over a period of time are \u00a0
accrued over the period. Transaction fees are recognised on comple- \u00a0
tion of the individual transaction. \u00a0
Value adjustments \u00a0
Value adjustments comprise realised and unrealised capital gains \u00a0
and losses on bonds at fair value, mortgage loans, issued mortgage \u00a0
bonds and fixed-price agreements as well as exchange rate adjust- \u00a0
ments. \u00a0
Staff costs and administrative expenses \u00a0
Staff costs \u00a0
Salaries and other remuneration that the Group expects to pay for \u00a0
work carried out during the year are expensed under Staff costs and \u00a0
administrative expenses. This item comprises salaries, bonuses, ex- \u00a0
penses for share-based payments, holiday allowances, anniversary \u00a0
bonuses, pension costs and other remuneration. Performance-based \u00a0
pay is expensed as it is earned. \u00a0
Performance-based pay and share-based payments \u00a0
Performance-based pay is expensed as it is earned. Part of the per- \u00a0
formance-based pay for the year is paid in the form of conditional \u00a0
shares issued by Danske Bank. Rights to shares under the condi- \u00a0
tional share programme vest up to five years after being granted \u00a0
provided that the employee, with the exception of retirement, has \u00a0
not resigned from the Group. Retirement is not considered as resig- \u00a0
nation. \u00a0
The fair value of share-based payments at the grant date is expensed \u00a0
over the service period that unconditionally entitles the employee to \u00a0
the payment. The intrinsic value of the share-based payments is ex- \u00a0
pensed in the year in which the share-based payments are earned, \u00a0
whereas the time value (if any) is accrued over the remaining ser- \u00a0
vice period. Expenses are set off against shareholders\u2019 equity. The \u00a0
increase in shareholders\u2019 equity is eliminated by set-off against an \u00a0
interim account with Danske Bank A/S. Subsequent changes in the \u00a0
fair value are not recognised in the income statement. \u00a0
Pension obligations \u00a0
The Group\u2019s contributions to defined contribution pension plans are \u00a0
recognised in the income statement as they are earned by the em- \u00a0
ployees. \u00a0
Loan impairment charges \u00a0
Loan impairment charges include the fair value adjustment of the \u00a0
credit risk on mortgage loans as well as losses on and impairment \u00a0
charges for other loans and amounts due. \u00a0
The item also includes impairment charges and realised gains and \u00a0
losses on acquired assets if the assets qualify as assets temporarily \u00a0
taken over. \u00a0
Tax \u00a0
Calculated current and deferred tax on the profit for the year and ad- \u00a0
justments of tax charges for previous years are recognised in the in- \u00a0
come statement. Tax on items recognised in Other comprehensive \u00a0
income is recognised in Other comprehensive income. Similarly, tax \u00a0
on items recognised in shareholders\u2019 equity is recognised in Share- \u00a0
holders\u2019 equity. \u00a0
Comprehensive income \u00a0
Total comprehensive income includes the net profit for the year and \u00a0
other comprehensive income. Other comprehensive income also in- \u00a0
cludes actuarial gains or losses on defined benefit pension plans. \u00a0
Cash flow statement \u00a0
The cash flow statement is prepared according to the indirect \u00a0
method. The statement is based on profit for the year before tax and \u00a0
shows the consolidated cash flows from operating, investing and fi- \u00a0
nancing activities and the increase or decrease in cash and cash \u00a0
equivalents during the year. \u00a0
Cash and cash equivalents consists of Cash in hand and demand de- \u00a0
posits with central banks and amounts due from credit institutions \u00a0
and central banks with an original maturity shorter than three \u00a0
months. \u00a0
Reporting on the ESEF Regulation \u00a0
The Commission\u2019s Delegated Regulation (EU) 2019/815 on the Eu- \u00a0
ropean Single Electronic Format (ESEF Regulation) requires a spe- \u00a0
cial digital reporting format for annual report for publicly listed en- \u00a0
tities. The ESEF Regulation includes requirements related to the \u00a0
preparation of the annual report in XHTML format and iXBRL tag- \u00a0
ging of the consolidated financial statements key elements including \u00a0
income statement, statement of comprehensive income, balance \u00a0
sheet, statement of capital, cash flow statement and notes. \u00a0
Realkredit Danmark A/S\u2019 iXBRL tagging is prepared in accordance \u00a0
to the ESEF taxonomy which is included in the appendices of the \u00a0
ESEF Regulation and is developed based on the IFRS taxonomy \u00a0
that is published by IFRS Foundation. For the annual report for \u00a0
2024 the ESEF Taxonomy for 2022 has been applied. \u00a0
The account balances in the consolidated financial statements are \u00a0
XBRL tagged to the elements in the European Single Electronic Re- \u00a0
porting (ESEF) Regulation that are assessed to correspond to the \u00a0
content of the account balances. For account balances that are as- \u00a0
sessed not to be covered by the account balances defined in the \u00a0
ESEF taxonomy, Realkredit Danmark A/S has incorporated entity \u00a0
specific extensions to the taxonomy. These extensions are \u2013 except \u00a0
subtotals \u2013 embedded in the elements in the ESEF taxonomy. \u00a0
Annual report 2024 comprises \u2013 in accordance with the require- \u00a0
ments of the ESEF Regulation \u2013 a zip-file RealkreditDanmark- \u00a0
2024-12-31-0-en.zip, that includes an XHTML-file, that can be \u00a0
opened with standard web browsers and a number of technical \u00a0
XBRL files that make automated extracts of the incorporated XBRL \u00a0
data possible. \u00a0
Standards and interpretations not yet in force \u00a0
The International Accounting Standards Board (IASB) has issued \u00a0
two new international accounting standards (IFRS 18, Presentation \u00a0
and disclosure in financial statements, and IFRS 19, Subsidiaries \u00a0
without public accountability) and amendments to existing interna- \u00a0
tional accounting standards (IFRS 7, IFRS 9 and IAS 21) that have \u00a0
not yet come into force. \u00a0
IFRS 18 replaces IAS 1, Presentation of financial statements, with \u00a0
particular focus on the presentation of the Income statement, and the \u00a0
introduction of Management performance measures. At time of writ- \u00a0
ing, it is being assessed how IFRS 18 will impact the presentation of \u00a0
the Income statement, however IFRS 18 will not impact sharehold- \u00a0
ers equity. IFRS 18 is effective for annual reports beginning on or \u00a0
after 1 January 2027. \u00a0
IFRS 19 and the amendments to other standards are not expected to \u00a0
have any material impact on the Group\u2019s financial statements. \u00a0
Accounting policies for the parent company \u00a0
The financial statements of the parent company are prepared in ac- \u00a0
cordance with the Danish Financial Business Act and the Danish \u00a0
FSA\u2019s Executive Order No. 281 of 26 March 2014 on Financial Re- \u00a0
ports for Credit Institutions and Investment Companies, etc. as \u00a0
amended by Executive Order no. 707 of 1 June 2016, Executive Or- \u00a0
der No. 1043 of 5 September 2017, Executive Order No. 1441 of 3 \u00a0
December 2018, Executive Order No. 1593 of 9 November 2020, \u00a0
Executive Order no. 116 of 27 January 2023 and Executive Order \u00a0
no. 516 of 17 May 2024. The rules are consistent with the Group\u2019s \u00a0
measurement principles under IFRS. \u00a0
Holdings in subsidiary undertakings are measured using the equity \u00a0
method. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1548": {
"value": "MATERIAL ACCOUNTING POLICIES \u00a0
General \u00a0
Realkredit Danmark prepares its consolidated financial statements \u00a0
in accordance with International Financial Reporting Standards \u00a0
(IFRS Accounting Standards) and applicable interpretations \u00a0
(IFRIC) issued by the International Accounting Standards Board \u00a0
(IASB), as adopted by the EU. Furthermore, the consolidated finan- \u00a0
cial statements comply with the Danish FSA\u2019s executive order No. \u00a0
1306 dated 16 December 2008 on the use of IFRS Accounting \u00a0
Standards by undertakings subject to the Danish Financial Business \u00a0
Act. \u00a0
Changes to material accounting policies \u00a0
Amendments to IFRS 7 and IAS 7 (supplier finance arrangements), \u00a0
IFRS 16 (sale and leaseback transactions), and IAS 1 (classification \u00a0
of liabilities; liabilities with covenants) became effective for the \u00a0
period beginning 1 January 2024. The amendments had no impact \u00a0
on the financial statements. \u00a0
The accounting policies are unchanged from those applied in An- \u00a0
nual Report 2023. \u00a0
For the purpose of clarity, the notes to the financial statements are \u00a0
prepared using the concepts of materiality and relevance. This \u00a0
means that information not considered material in terms of quanti- \u00a0
tative and qualitative measures or relevant to financial statement \u00a0
users is not presented in the notes. \u00a0
Significant accounting estimates and judgements \u00a0
The preparation of financial information requires, in some cases, \u00a0
the use of judgements and estimates by management. This includes \u00a0
judgements made when applying accounting policies. The most sig- \u00a0
nificant judgements made when applying accounting policies relate \u00a0
to the fair value measurement of mortgage loans. \u00a0
Further, the carrying amounts of some assets and liabilities requires \u00a0
the estimation of the effects of uncertain future events on those as- \u00a0
sets and liabilities. The estimates are based on premises that man- \u00a0
agement finds reasonable but which are inherently uncertain and \u00a0
unpredictable. The premises may be incomplete, unexpected future \u00a0
events or situations may occur, and other parties may arrive at other \u00a0
estimated values. In view of the inherent uncertainties and the high \u00a0
level of subjectivity and judgement involved in the recognition and \u00a0
measurement of the following items, it is possible that the out- \u00a0
comes in the next financial year could differ from those on which \u00a0
management\u2019s estimates are based. \u00a0
Fair value measurement of mortgage loans \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on borrowers. In addition to the expected \u00a0
credit losses, a collective assessment determines the need for adjust- \u00a0
ments to reflect other components in the fair value measurement, \u00a0
such as an assessment of an investor\u2019s risk premium, compensation \u00a0
for administrative costs related to the loans and the possibility to in- \u00a0
crease the credit margin if the credit risk increases. \u00a0
The fair value of the credit risk on the borrower is based on the ex- \u00a0
pected credit loss impairment model in IFRS 9, which depends on \u00a0
whether the credit risk has increased significantly since initial \u00a0
recognition. If the credit risk has not increased significantly, the im- \u00a0
pairment charge equals the expected credit losses resulting from de- \u00a0
fault events that are possible within the next 12 months (stage 1). If \u00a0
the credit risk has increased significantly, the loan is more than 30 \u00a0
days past due, or the loans is in default or otherwise impaired, the \u00a0
impairment charge equals the lifetime expected credit losses (stages \u00a0
2 and 3). \u00a0
In determining the impairment for expected credit losses, manage- \u00a0
ment exercises judgement and uses estimates and assumptions. The \u00a0
expected credit loss is calculated for all individual loans as a func- \u00a0
tion of PD (probability of default), EAD (exposure at default) and \u00a0
LGD (loss given default) and incorporates forward-looking infor- \u00a0
mation. The estimation of expected credit losses involves forecast- \u00a0
ing future economic conditions over a number of years. Such fore- \u00a0
casts are subject to management judgement and those judgements \u00a0
may be sources of measurement uncertainty that have significant \u00a0
risk of resulting in a material adjustment to a carrying amount in fu- \u00a0
ture periods. \u00a0
The incorporation of forward-looking elements reflects the expecta- \u00a0
tions of the Group\u2019s senior management and involves the creation \u00a0
of scenarios (base case, upside and downside), including an assess- \u00a0
ment of the probability for each scenario. The purpose of using \u00a0
multiple scenarios is to model the non-linear impact of assumptions \u00a0
about macroeconomic factors on the expected credit losses. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. That is, after the \u00a0
forecast period, the macroeconomic scenarios revert slowly towards \u00a0
a steady state. \u00a0
The applied scenarios that drive the expected credit loss calculation \u00a0
in the fourth quarter of 2024 have been updated with the latest mac- \u00a0
roeconomic data. Compared to the end of 2023, the base case and \u00a0
upside scenarios have been revised to reflect expectations of lower \u00a0
inflation, decreasing interest rates, improved house prices and im- \u00a0
proved growth momentum. \u00a0
The base case is an extension of the Group\u2019s official view of the \u00a0
Nordic economies (the Nordic Outlook report). At 31 December \u00a0
2024, the base case scenario reflects a soft landing with economic \u00a0
growth moving toward normalised levels. Inflation is coming down \u00a0
quickly, and fairly rapid interest cuts are consequently expected. \u00a0
The Nordic property markets have generally recovered, and price \u00a0
increases are expected, as consumers regain purchasing power. \u00a0
The upside scenario represents a slightly better outlook than the \u00a0
base case scenario across the macroeconomic parameters. In this \u00a0
scenario, it is predominantly the European businesses\u2019 profit mar- \u00a0
gins and not prices that absorb the adjustment to higher wage costs \u00a0
and inflation returns more sustainably to target than in the base \u00a0
case. Central banks no longer hesitate to cut interest rates and all \u00a0
Nordic central banks loosen policies a bit quicker than in the base \u00a0
case. This boosts consumer sentiment, increasing private consump- \u00a0
tion and strengthening the housing market. \u00a0
The downside scenario is a severe recession with high interest rates \u00a0
scenario (reflecting a stagflation scenario) applied in the Group\u2019s \u00a0
ICAAP processes, which is similar in nature to regulatory stress \u00a0
tests. The severe recession scenario reflects negative growth, in- \u00a0
creasing interest rates, and falling property prices for a longer pe- \u00a0
riod. The use of the downside scenario was introduced to better cap- \u00a0
ture the elevated risk from high interest rates and high inflation. A \u00a0
trigger of the economic setback could be continued macroeconomic \u00a0
worsening and challenges linked to high business costs while infla- \u00a0
tion remain elevated. This adversely impacts the labour market, re- \u00a0
sults in higher and more persistent unemployment. This would lead \u00a0
to a severe slowdown in the economies in which the Group is repre- \u00a0
sented. \u00a0
The scenario weighting is unchanged from 2023. The weight on the \u00a0
base case scenario is 60% (60% in 2023), the upside scenario is \u00a0
weighted 20% (20% in 2023), and the downside scenario is \u00a0
weighted 20% (20% in 2023). \u00a0
At the end of 2024, the fair value adjustment of the credit risk on \u00a0
mortgage loans was calculated at DKK 2,837 million (2023: \u00a0
DKK 2,656 million), reducing the value of mortgage loans. The \u00a0
base case scenario enters with a probability of 60% (2023: 60%), \u00a0
the downside scenario with a probability of 20% (2023: 20%) and \u00a0
the upside scenario with a probability of 20% (2023: 20%). If the \u00a0
base case scenario was assigned a probability of 100%, the fair \u00a0
value adjustment at end-2024 would be DKK 2,375 million (2023: \u00a0
DKK 2,450 million). The fair value adjustment at the end of 2024 \u00a0
would increase to DKK 4,750 million (2023: DKK 4,225 million) if \u00a0
the downside scenario was assigned a probability of 100%. If in- \u00a0
stead the upside scenario was assigned a probability of 100%, the \u00a0
fair value adjustment would decrease to DKK 2,325 million (2023: \u00a0
DKK 2,400 million). \u00a0
According to the Group\u2019s definition of a significant increase in \u00a0
credit risk, i.e. when a loan is transferred from stage 1 to stage 2, \u00a0
loans with an initial PD below 1% are transferred to stage 2 if the \u00a0
loan\u2019s 12-month PD has increased by at least 0.5 of a percentage \u00a0
point and the loan\u2019s lifetime PD has doubled since origination. The \u00a0
allowance account is relatively stable in terms of changes to the def- \u00a0
inition of significant increase in credit risk. At 31 December 2024, \u00a0
the allowance account would increase by DKK 30 million (2023: \u00a0
DKK 25 million), if instead an increase in the loan\u2019s 12-month PD \u00a0
by at least 0.25 of a percentage point combined with a doubling of \u00a0
the lifetime PD was considered a significant increase in credit risk. \u00a0
Management applies judgement when determining the need for \u00a0
post-model adjustments. At the end of 2024, the post-model adjust- \u00a0
ments amounted to DKK 1,149 million (2023: DKK 1,241 million). \u00a0
The adjustments cover for instance specific macroeconomic risks on \u00a0
certain industries that are not specifically captured by the expected \u00a0
credit loss model e.g. effects from climate risk or the macroeco- \u00a0
nomic uncertainty. The total balance of post-model adjustments has \u00a0
been reduced slightly compared to end of 2023 mainly due to the \u00a0
improved macroeconomic outlook. \u00a0
Consolidation \u00a0
Group undertakings \u00a0
The financial statements consolidate the parent company and group \u00a0
undertakings in which the Group has control. Control exists if \u00a0
Realkredit Danmark A/S is exposed to variable returns from the en- \u00a0
tity and, directly or indirectly, holds more than half of the voting \u00a0
rights in an undertaking or otherwise has power to control manage- \u00a0
ment and operating policy decisions affecting the variable returns. \u00a0
The consolidated financial statements are prepared by consolidating \u00a0
items of the same nature and eliminating intra-group transactions, \u00a0
balances and trading profits and losses. \u00a0
Segment reporting \u00a0
Realkredit Danmark operates two primary business segments, mort- \u00a0
gage finance and a proprietary portfolio. The business segments are \u00a0
based on ongoing internal reporting of customer-facing activities \u00a0
(mortgage finance) and risk management (proprietary portfolio). \u00a0
The part of the bond portfolio that is not related to mortgage lend- \u00a0
ing operations is managed under the proprietary portfolio segment. \u00a0
Translation of transactions in foreign currencies \u00a0
The presentation currency of the consolidated financial statements \u00a0
is Danish kroner, which is the functional currency of Realkredit \u00a0
Danmark. \u00a0
Transactions in foreign currencies are translated into Danish kroner \u00a0
using the exchange rates applicable on the transaction date. Gains \u00a0
and losses on exchange rate differences arising between the transac- \u00a0
tion date and the settlement date are recognised in the income state- \u00a0
ment. \u00a0
Monetary assets and liabilities in foreign currency are translated at \u00a0
the exchange rates at the balance sheet date. Exchange rate adjust- \u00a0
ments of monetary assets and liabilities arising as a result of differ- \u00a0
ences in the exchange rates at the transaction date and at the balance \u00a0
sheet date are recognised in the income statement. \u00a0
Financial instruments \u2013 general \u00a0
Regular way purchases and sales of financial instruments are recog- \u00a0
nised and derecognised at the settlement date. Fair value adjust- \u00a0
ments of unsettled financial instruments are recognised from the \u00a0
trade date to the settlement date for financial instruments subse- \u00a0
quently recognised at fair value over profit or loss. \u00a0
Classification \u00a0
Financial assets are classified at initial recognition on the basis of \u00a0
the company\u2019s business model adopted for managing the assets and \u00a0
on their contractual cash flow characteristics (including embedded \u00a0
derivatives, if any) into one of the following measurement catego- \u00a0
ries: \u00a0
\u2022
Amortised cost if the assets are held exclusively for the \u00a0
purpose of collecting contractual cash flows and if the cash \u00a0
flows are payments of principal and interest on the princi- \u00a0
pal amount outstanding solely. \u00a0
\u2022
Fair value through other comprehensive income if the as- \u00a0
sets are held for the purpose of both collecting contractual \u00a0
cash flows and selling and if cash flows are payments of \u00a0
principal and interest on the principal amount outstanding \u00a0
solely. The Group has no financial assets in this category. \u00a0
\u2022
Fair value through profit or loss for all other financial as- \u00a0
sets. \u00a0
At initial recognition, a financial liability is assigned to one of the \u00a0
following categories: \u00a0
\u2022
Issued mortgage bonds are designated at fair value through \u00a0
profit or loss using the fair value option of IFRS 9 in order \u00a0
not to create an accounting mismatch that would otherwise \u00a0
arise. See below. \u00a0
\u2022
Other financial liabilities, including \u201cSenior debt\u201d meas- \u00a0
ured at amortised cost. \u00a0
Mortgage loans and issued mortgage bonds at fair value through \u00a0
profit or loss (FVPL) \u00a0
Mortgage loans granted under Danish mortgage finance law are \u00a0
funded by issuing listed mortgage bonds with matching terms. Bor- \u00a0
rowers may repay such mortgage loans by delivering the underly- \u00a0
ing bonds. This represents an option to prepay at the fair value of \u00a0
the underlying bonds, which can be both above and below the prin- \u00a0
cipal amount plus accrued interest. Such an option is not consistent \u00a0
with the solely payments of principal and interest test (SPPI test) in \u00a0
IFRS 9, as changes in the fair value of the underlying bonds reflect \u00a0
other factors than interest rate developments. Consequently, regard- \u00a0
less of the fact that the business model is to receive the contractual \u00a0
cash flows, such loans are mandatorily recognised at fair value \u00a0
through profit or loss. \u00a0
If the issued mortgage bonds are valued at amortised cost, and the \u00a0
mortgage loans, which are funded by the issued mortgage bonds \u00a0
with matching terms, are valued at fair value through profit or loss, \u00a0
a timing difference will arise in the recognition of gains and losses \u00a0
in the financial statements. \u00a0
To eliminate this random timing difference in the recognition of \u00a0
gains and losses, both mortgage loans and issued mortgage bonds \u00a0
are valued at fair value through profit or loss (for the issued bonds \u00a0
by using the fair value option of IFRS 9). \u00a0
The fair value of the mortgage loans is based on the fair value of \u00a0
the underlying mortgage bonds adjusted for the credit risk on bor- \u00a0
rower/the Group\u2019s customer. This entails that the fair value adjust- \u00a0
ment of the mortgage loans in all material respects balance out the \u00a0
fair value adjustment of the issued bonds. Consequently, the total \u00a0
fair value adjustment of the issued mortgage bonds, including the \u00a0
proportion relating to own credit risk, is recognised in the income \u00a0
statement, as recognition of the fair value adjustment of own credit \u00a0
risk in other comprehensive income would lead to an accounting \u00a0
mismatch in the income statement. \u00a0
The fair value adjustment of the mortgage loans and the issued \u00a0
mortgage bonds is recognised under Value adjustments, except for \u00a0
the part of the value adjustment that concerns the credit risk on \u00a0
mortgage loans: this part is recognised under Loan impairment \u00a0
charges. \u00a0
The table below shows the distribution of the Group\u2019s financial instruments by valuation method: \u00a0
Fair value through profit or loss \u00a0
Managed on fair- \u00a0
Due to \u00a0
Amortised cost \u00a0
Trading portfolio \u00a0
value basis \u00a0
SPPI test \u00a0
Designated \u00a0
Total \u00a0
Assets \u00a0
Cash in hand and demand deposits \u00a0
with central banks \u00a0
10,802 \u00a0
-
-
-
-
10,802 \u00a0
Due from credit institutions and \u00a0
central banks \u00a0
6,826 \u00a0
-
-
-
-
6,826 \u00a0
Bonds \u00a0
27,922 \u00a0
-
24,367 \u00a0
-
-
52,289 \u00a0
Loans \u00a0
207 \u00a0
-
-
755,539 \u00a0
-
755,746 \u00a0
Shares \u00a0
-
-
2
-
-
2
Derivatives (Other assets) \u00a0
-
22 \u00a0
-
-
-
22 \u00a0
Total assets, 31 December 2024 \u00a0
45,757 \u00a0
22 \u00a0
24,369 \u00a0
755,539 \u00a0
-
825,687 \u00a0
Total assets, 31 December 2023 \u00a0
44,610 \u00a0
29 \u00a0
16,807 \u00a0
753,624 \u00a0
-
815,070 \u00a0
Liabilities \u00a0
Due to credit institutions and central \u00a0
banks \u00a0
3,500 \u00a0
-
-
-
-
3,500 \u00a0
Issued bonds \u00a0
-
-
-
-
762,125 \u00a0
762,125 \u00a0
Derivatives (Other liabilities) \u00a0
-
9
-
-
-
9
Total liabilities, 31 December 2024 \u00a0
3,500 \u00a0
9
-
-
762,125 \u00a0
765,634 \u00a0
Total liabilities, 31 December 2023 \u00a0
2,000 \u00a0
186 \u00a0
-
-
756,509 \u00a0
758,695 \u00a0
BALANCE SHEET \u00a0
Bonds at fair value \u00a0
At initial recognition, these bonds are measured at fair value, ex- \u00a0
cluding transaction costs. Subsequently, bonds are measured at fair \u00a0
value through profit or loss. The bonds form part of a portfolio, \u00a0
which is managed on a fair value basis. \u00a0
If an active market exists, fair value is based on the most recently \u00a0
observed market price at the balance sheet date. \u00a0
If a bond is quoted in a market that is not active, the Group bases its \u00a0
measurement on the most recent transaction price. Adjustment is \u00a0
made for subsequent changes in market conditions, for instance by \u00a0
including transactions in similar bonds that are motivated by normal \u00a0
business considerations. \u00a0
If no active market exists, fair value is estimated on the basis of \u00a0
generally accepted valuation techniques and market-based parame- \u00a0
ters. \u00a0
Bonds at amortised cost \u00a0
Realkredit Danmark has a bond portfolio held for the purpose of \u00a0
generating a known return until maturity. The bonds are measured \u00a0
at amortised cost. Interest rate risk is not hedged. Impairment \u00a0
charges are made for expected credit losses on the basis of a classi- \u00a0
fication of the bonds into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for bonds in stage 1 and the \u00a0
present value of lifetime expected credit losses for bonds in stages 2 \u00a0
and 3, cf. the description below in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. For calculating the present \u00a0
value of expected credit losses for discounting purposes, the origi- \u00a0
nal effective interest rate is used instead of the current interest rate. \u00a0
Mortgage loans and Issued mortgage bonds at fair value \u00a0
At initial recognition, mortgage loans and issued mortgage bonds \u00a0
are measured at fair value, excluding transaction costs. Subse- \u00a0
quently, these financial instruments are measured at fair value \u00a0
through profit or loss. \u00a0
The fair value of the issued mortgage bonds will usually equal the \u00a0
quoted market price. However, a small part of the issued bonds are \u00a0
illiquid, and the fair value of these bonds is calculated on the basis \u00a0
of a discounted cash flow valuation model. \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on the borrowers. The IFRS 13 estimate of \u00a0
the fair value of the expected credit losses is calculated on the basis \u00a0
of the IFRS 9 model for calculating impairment of losses on loans \u00a0
at amortised cost: expected credit losses, including the classifica- \u00a0
tion of loans between stages 1, 2 and 3: \u00a0
Stage 1: If the credit risk has not increased significantly, the impair- \u00a0
ment equals the expected credit losses resulting from default events \u00a0
that are possible within the next 12 months, see however below on \u00a0
the collective assessment of the need for further adjustments. \u00a0
Stage 2: If the credit risk has increased significantly, the loan is \u00a0
transferred to stage 2 and an impairment charge equal to the life- \u00a0
time expected credit losses is recognised. A significant credit risk \u00a0
increase is considered to occur when the following increase in the \u00a0
probability of default (PD) is observed: \u00a0
\u2022
For loans originated below 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of at least 0.5 of a percentage point \u00a0
since origination and a doubling of the loan\u2019s lifetime PD \u00a0
since origination \u00a0
\u2022
For loans originated above 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of 2 percentage points since origination \u00a0
or a doubling of the loan\u2019s lifetime PD since origination \u00a0
\u2022
Further, loans that are more than 30 days past due are moved \u00a0
from stage 1 to stage 2. Finally, customers subject to forbear- \u00a0
ance measures are placed in stage 2, if the Group, in the most \u00a0
likely outcome, expects no loss or the customers are in the 2- \u00a0
year probation period for performing forborne exposures. \u00a0
Stage 3: If the loan is in default, it is transferred to stage 3. A facil- \u00a0
ity becomes credit-impaired when one or more events that have a \u00a0
detrimental impact on the estimated future cash flows have oc- \u00a0
curred. This includes observable data about (a) significant financial \u00a0
difficulty of the borrower; (b) a breach of contract, such as a default \u00a0
or past due event; (c) the borrower, for reasons relating to the bor- \u00a0
rower\u2019s financial difficulty, is granted a concession; (d) it is proba- \u00a0
ble that the borrower will enter into bankruptcy. Credit-impaired fa- \u00a0
cilities are placed in Realkredit Danmark\u2019s rating category 11. For \u00a0
rating category 11, all exposures are classified as stage 3. The \u00a0
Realkredit Danmark Group uses the option to continue to recognise \u00a0
interest income on mortgage loans measured at fair value on the ba- \u00a0
sis of the contractual interest rates. \u00a0
A definition of default is used in the measurement of expected \u00a0
credit losses and the assessment to determine movements between \u00a0
stages. The definition of default is also used for internal credit risk \u00a0
management and capital adequacy purposes. To support a more har- \u00a0
monised approach regarding the application of the definition of de- \u00a0
fault, the European Banking Authority (EBA) issued the following \u00a0
products that guide the application of the definition of default: the \u00a0
Guidelines on the application of the definition of default, \u00a0
EBA/GL/2016/07 and the Regulatory Technical Standards (RTS) \u00a0
on the materiality threshold for credit obligations past due, \u00a0
EBA/RTS/2016/06. \u00a0
The Group\u2019s definition of default for accounting purposes aligns \u00a0
with the regulatory purposes. All exposures that are considered de- \u00a0
fault are also considered Stage 3 exposures. This is applicable for \u00a0
exposures that are default due to either the 90 days past due default \u00a0
trigger or the unlikeliness to pay default triggers. \u00a0
The expected credit loss is calculated for all individual loans as a \u00a0
function of the probability of default (PD), the exposure at default \u00a0
(EaD) and the loss given default (LGD). \u00a0
The lifetime expected credit losses cover the expected remaining \u00a0
lifetime of the loan. For most loans, the expected lifetime is limited \u00a0
to the remaining contractual maturity and adjusted for expected pre- \u00a0
payment. For exposures with weak credit quality, the likelihood of \u00a0
prepayment is not included. \u00a0
The forward-looking elements of the calculation reflect the current \u00a0
expectations of senior management. The Danske Bank Group\u2019s inde- \u00a0
pendent macroeconomic research unit creates three macroeconomic \u00a0
scenarios (base case, upside and downside), including an assessment \u00a0
of the probability for each scenario. The purpose of using multiple \u00a0
scenarios is to model the non-linear impact of assumptions about \u00a0
macroeconomic factors on the expected credit losses. Afterwards \u00a0
there is a process to ensure review and sign-off of the scenarios. \u00a0
Management\u2019s approval of scenarios can include adjustments to the \u00a0
scenarios or to which scenarios are used, the assigned probability \u00a0
weighting and post-model adjustments to cover the outlook for par- \u00a0
ticular high-risk portfolios, which are not provided by the Group\u2019s \u00a0
macroeconomists. The approved scenarios are used to calculate the \u00a0
impairment levels. Technically, the forward-looking information is \u00a0
used directly in the PDs through an estimate of general changes to \u00a0
the PDs and the LGDs in the expected credit loss calculation. How- \u00a0
ever, for significant exposures in stage 3, an individual assessment \u00a0
of the scenarios, changes to expected credit losses and the related \u00a0
probabilities are performed by senior credit officers. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. The base case is \u00a0
based on the macroeconomic outlook as disclosed in the Danske \u00a0
Bank Group\u2019s Nordic Outlook reports. \u00a0
In addition, a collective assessment determines the need for further \u00a0
adjustments to reflect other components in the fair value measure- \u00a0
ment, such as an assessment of an investor\u2019s risk premium, compen- \u00a0
sation for administrative costs related to the loans and the possibility \u00a0
of increasing the credit margin if the credit risk increases. This as- \u00a0
sessment also takes into consideration the fact that initial recogni- \u00a0
tion of 12-month expected credit losses is not in accordance with \u00a0
fair value, and the fact that the expected credit losses during the life- \u00a0
time of the asset should be included in the assessment even if the \u00a0
credit risk has not increased significantly. \u00a0
Loans considered uncollectible are written off. Write-offs are deb- \u00a0
ited to the allowance account. Loans are written off once the usual \u00a0
collection procedure has been completed and the loss on the individ- \u00a0
ual loan can be calculated. \u00a0
Due from credit institutions and central banks and Loans and \u00a0
other amounts due at amortised cost \u00a0
Amounts due from credit institutions and central banks comprise \u00a0
amounts due from other credit institutions and time deposits with \u00a0
central banks. Reverse transactions (purchases of securities from \u00a0
credit institutions and central banks that the Group agrees to resell \u00a0
at a later date) are recognised as Amounts due from credit institu- \u00a0
tions and central banks with collateral in the securities received. Re- \u00a0
verse transactions are made on standard terms and conditions. \u00a0
These financial assets are held for the purpose of achieving the con- \u00a0
tractual return until expiry and have contractual cash flows reflect- \u00a0
ing repayment of principal and interest thereon. Loans and other \u00a0
amounts due are therefore carried at amortised cost and consist of \u00a0
mortgage payments due and other outlays relating to mortgage loans \u00a0
as well as claims against individual borrowers and reserve fund \u00a0
mortgages, etc. \u00a0
Impairments are made for expected credit losses on the basis of a \u00a0
classification of the loans into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for loans in stage 1 and the \u00a0
present value of lifetime expected credit losses for loans in stages 2 \u00a0
and 3, cf. the description above in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. \u00a0
Assets temporarily taken over \u00a0
Assets temporarily taken over include tangible assets, which accord- \u00a0
ing to a publicly announced plan, the Group expects to sell within \u00a0
twelve months. Such assets are measured at the lower of their carry- \u00a0
ing amount at the time of classification and their fair value less ex- \u00a0
pected costs to sell and are no longer depreciated. \u00a0
Properties taken over in connection with non-performing loans and \u00a0
which are likely to be sold within 12 months are presented under \u00a0
Assets temporarily taken over. Subsequent fair value adjustments \u00a0
and gains or losses on disposal are recognised under Loan impair- \u00a0
ment charges. \u00a0
Other assets \u00a0
Pension assets \u00a0
The Group\u2019s pension obligations generally consist of defined contri- \u00a0
bution pension plans for its staff. Under the defined contribution \u00a0
plans, the Group pays regular contributions to insurance companies \u00a0
and other institutions. Such payments are expensed as they are \u00a0
earned by the staff, and the obligations under the plans are taken \u00a0
over by the insurance companies and other institutions. \u00a0
Furthermore, the Group operates a defined benefit plan maintained \u00a0
under Kreditforeningen Danmarks Pensionsafviklingskasse (pension \u00a0
fund). Realkredit Danmark A/S guarantees future payment of a de- \u00a0
fined benefit from the time of retirement. \u00a0
The pension fund and Realkredit Danmark\u2019s defined benefit plan \u00a0
have not accepted new members since 1971, so no pension contribu- \u00a0
tions are made. Accordingly, there are no service costs. \u00a0
The amounts payable are recognised on the basis of an actuarial \u00a0
computation of the present value of expected benefits. The present \u00a0
value is calculated on the basis of expected future trends in salaries \u00a0
and interest rates, time of retirement, mortality rate and other fac- \u00a0
tors. \u00a0
The fair value of pension assets less the present value of pension \u00a0
benefits is carried as a pension asset under Other assets in the bal- \u00a0
ance sheet. \u00a0
Due to credit institutions and central banks \u00a0
Due to credit institutions and central banks include amounts re- \u00a0
ceived under repo transactions. These deposits are recognised as \u00a0
debt with collateral in the securities surrendered. Repo transactions \u00a0
are made on standard terms and conditions. Amounts due to credit \u00a0
institutions and central banks are measured at amortised cost. \u00a0
Deferred tax assets/Deferred tax liabilities \u00a0
Deferred tax on all temporary differences between the tax base of \u00a0
assets and liabilities and their carrying amounts is accounted for in \u00a0
accordance with the balance sheet liability method. Deferred tax is \u00a0
recognised under Deferred tax assets or Deferred tax liabilities. \u00a0
Deferred tax is measured on the basis of the tax regulations and \u00a0
rates that, according to the rules in force at the balance sheet date, \u00a0
will apply at the time the deferred tax is expected to crystallise as \u00a0
current tax. Changes in deferred tax as a result of adopted changes \u00a0
in tax rates are recognised in the income statement based on ex- \u00a0
pected cash flows. \u00a0
Current tax assets/Current tax liabilities \u00a0
Current tax assets and liabilities are recognised in the balance sheet \u00a0
as the estimated tax charge on the profit for the year adjusted for \u00a0
prepaid tax and prior-year tax payables and receivables. \u00a0
Tax assets and liabilities are offset if the Group has a legally en- \u00a0
forceable right to set off such assets and liabilities and intends either \u00a0
to settle the assets and liabilities on a net basis or to realise the as- \u00a0
sets and settle the liabilities simultaneously. \u00a0
Shareholders\u2019 equity \u00a0
Reserves in series \u00a0
Reserves in series comprise series established before 1972 with \u00a0
joint and several liability, series established after 1972 without joint \u00a0
and several liability, other series, including Danske Kredit and \u00a0
mortgage-covered bonds. \u00a0
Other reserves \u00a0
Other reserves comprise the mortgage credit business that is not in- \u00a0
cluded in reserves in series. \u00a0
Proposed dividends \u00a0
The Board of Directors\u2019 proposal for dividends for the year submit- \u00a0
ted to the general meeting is included as a separate reserve in share- \u00a0
holders\u2019 equity. The dividends are recognised as a liability when the \u00a0
general meeting has adopted the proposal. \u00a0
INCOME STATEMENT \u00a0
Interest income and expense \u00a0
Interest income and expenses include interest and administration \u00a0
margins on financial instruments measured at fair value. \u00a0
Fees and commission income and expense \u00a0
Income, including origination fees, from mortgage loans carried at \u00a0
fair value is recognised when the transaction is completed. \u00a0
Income and expenses for services provided over a period of time are \u00a0
accrued over the period. Transaction fees are recognised on comple- \u00a0
tion of the individual transaction. \u00a0
Value adjustments \u00a0
Value adjustments comprise realised and unrealised capital gains \u00a0
and losses on bonds at fair value, mortgage loans, issued mortgage \u00a0
bonds and fixed-price agreements as well as exchange rate adjust- \u00a0
ments. \u00a0
Staff costs and administrative expenses \u00a0
Staff costs \u00a0
Salaries and other remuneration that the Group expects to pay for \u00a0
work carried out during the year are expensed under Staff costs and \u00a0
administrative expenses. This item comprises salaries, bonuses, ex- \u00a0
penses for share-based payments, holiday allowances, anniversary \u00a0
bonuses, pension costs and other remuneration. Performance-based \u00a0
pay is expensed as it is earned. \u00a0
Performance-based pay and share-based payments \u00a0
Performance-based pay is expensed as it is earned. Part of the per- \u00a0
formance-based pay for the year is paid in the form of conditional \u00a0
shares issued by Danske Bank. Rights to shares under the condi- \u00a0
tional share programme vest up to five years after being granted \u00a0
provided that the employee, with the exception of retirement, has \u00a0
not resigned from the Group. Retirement is not considered as resig- \u00a0
nation. \u00a0
The fair value of share-based payments at the grant date is expensed \u00a0
over the service period that unconditionally entitles the employee to \u00a0
the payment. The intrinsic value of the share-based payments is ex- \u00a0
pensed in the year in which the share-based payments are earned, \u00a0
whereas the time value (if any) is accrued over the remaining ser- \u00a0
vice period. Expenses are set off against shareholders\u2019 equity. The \u00a0
increase in shareholders\u2019 equity is eliminated by set-off against an \u00a0
interim account with Danske Bank A/S. Subsequent changes in the \u00a0
fair value are not recognised in the income statement. \u00a0
Pension obligations \u00a0
The Group\u2019s contributions to defined contribution pension plans are \u00a0
recognised in the income statement as they are earned by the em- \u00a0
ployees. \u00a0
Loan impairment charges \u00a0
Loan impairment charges include the fair value adjustment of the \u00a0
credit risk on mortgage loans as well as losses on and impairment \u00a0
charges for other loans and amounts due. \u00a0
The item also includes impairment charges and realised gains and \u00a0
losses on acquired assets if the assets qualify as assets temporarily \u00a0
taken over. \u00a0
Tax \u00a0
Calculated current and deferred tax on the profit for the year and ad- \u00a0
justments of tax charges for previous years are recognised in the in- \u00a0
come statement. Tax on items recognised in Other comprehensive \u00a0
income is recognised in Other comprehensive income. Similarly, tax \u00a0
on items recognised in shareholders\u2019 equity is recognised in Share- \u00a0
holders\u2019 equity. \u00a0
Comprehensive income \u00a0
Total comprehensive income includes the net profit for the year and \u00a0
other comprehensive income. Other comprehensive income also in- \u00a0
cludes actuarial gains or losses on defined benefit pension plans. \u00a0
Cash flow statement \u00a0
The cash flow statement is prepared according to the indirect \u00a0
method. The statement is based on profit for the year before tax and \u00a0
shows the consolidated cash flows from operating, investing and fi- \u00a0
nancing activities and the increase or decrease in cash and cash \u00a0
equivalents during the year. \u00a0
Cash and cash equivalents consists of Cash in hand and demand de- \u00a0
posits with central banks and amounts due from credit institutions \u00a0
and central banks with an original maturity shorter than three \u00a0
months. \u00a0
Reporting on the ESEF Regulation \u00a0
The Commission\u2019s Delegated Regulation (EU) 2019/815 on the Eu- \u00a0
ropean Single Electronic Format (ESEF Regulation) requires a spe- \u00a0
cial digital reporting format for annual report for publicly listed en- \u00a0
tities. The ESEF Regulation includes requirements related to the \u00a0
preparation of the annual report in XHTML format and iXBRL tag- \u00a0
ging of the consolidated financial statements key elements including \u00a0
income statement, statement of comprehensive income, balance \u00a0
sheet, statement of capital, cash flow statement and notes. \u00a0
Realkredit Danmark A/S\u2019 iXBRL tagging is prepared in accordance \u00a0
to the ESEF taxonomy which is included in the appendices of the \u00a0
ESEF Regulation and is developed based on the IFRS taxonomy \u00a0
that is published by IFRS Foundation. For the annual report for \u00a0
2024 the ESEF Taxonomy for 2022 has been applied. \u00a0
The account balances in the consolidated financial statements are \u00a0
XBRL tagged to the elements in the European Single Electronic Re- \u00a0
porting (ESEF) Regulation that are assessed to correspond to the \u00a0
content of the account balances. For account balances that are as- \u00a0
sessed not to be covered by the account balances defined in the \u00a0
ESEF taxonomy, Realkredit Danmark A/S has incorporated entity \u00a0
specific extensions to the taxonomy. These extensions are \u2013 except \u00a0
subtotals \u2013 embedded in the elements in the ESEF taxonomy. \u00a0
Annual report 2024 comprises \u2013 in accordance with the require- \u00a0
ments of the ESEF Regulation \u2013 a zip-file RealkreditDanmark- \u00a0
2024-12-31-0-en.zip, that includes an XHTML-file, that can be \u00a0
opened with standard web browsers and a number of technical \u00a0
XBRL files that make automated extracts of the incorporated XBRL \u00a0
data possible. \u00a0
Standards and interpretations not yet in force \u00a0
The International Accounting Standards Board (IASB) has issued \u00a0
two new international accounting standards (IFRS 18, Presentation \u00a0
and disclosure in financial statements, and IFRS 19, Subsidiaries \u00a0
without public accountability) and amendments to existing interna- \u00a0
tional accounting standards (IFRS 7, IFRS 9 and IAS 21) that have \u00a0
not yet come into force. \u00a0
IFRS 18 replaces IAS 1, Presentation of financial statements, with \u00a0
particular focus on the presentation of the Income statement, and the \u00a0
introduction of Management performance measures. At time of writ- \u00a0
ing, it is being assessed how IFRS 18 will impact the presentation of \u00a0
the Income statement, however IFRS 18 will not impact sharehold- \u00a0
ers equity. IFRS 18 is effective for annual reports beginning on or \u00a0
after 1 January 2027. \u00a0
IFRS 19 and the amendments to other standards are not expected to \u00a0
have any material impact on the Group\u2019s financial statements. \u00a0
Accounting policies for the parent company \u00a0
The financial statements of the parent company are prepared in ac- \u00a0
cordance with the Danish Financial Business Act and the Danish \u00a0
FSA\u2019s Executive Order No. 281 of 26 March 2014 on Financial Re- \u00a0
ports for Credit Institutions and Investment Companies, etc. as \u00a0
amended by Executive Order no. 707 of 1 June 2016, Executive Or- \u00a0
der No. 1043 of 5 September 2017, Executive Order No. 1441 of 3 \u00a0
December 2018, Executive Order No. 1593 of 9 November 2020, \u00a0
Executive Order no. 116 of 27 January 2023 and Executive Order \u00a0
no. 516 of 17 May 2024. The rules are consistent with the Group\u2019s \u00a0
measurement principles under IFRS. \u00a0
Holdings in subsidiary undertakings are measured using the equity \u00a0
method. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1549": {
"value": "MATERIAL ACCOUNTING POLICIES \u00a0
General \u00a0
Realkredit Danmark prepares its consolidated financial statements \u00a0
in accordance with International Financial Reporting Standards \u00a0
(IFRS Accounting Standards) and applicable interpretations \u00a0
(IFRIC) issued by the International Accounting Standards Board \u00a0
(IASB), as adopted by the EU. Furthermore, the consolidated finan- \u00a0
cial statements comply with the Danish FSA\u2019s executive order No. \u00a0
1306 dated 16 December 2008 on the use of IFRS Accounting \u00a0
Standards by undertakings subject to the Danish Financial Business \u00a0
Act. \u00a0
Changes to material accounting policies \u00a0
Amendments to IFRS 7 and IAS 7 (supplier finance arrangements), \u00a0
IFRS 16 (sale and leaseback transactions), and IAS 1 (classification \u00a0
of liabilities; liabilities with covenants) became effective for the \u00a0
period beginning 1 January 2024. The amendments had no impact \u00a0
on the financial statements. \u00a0
The accounting policies are unchanged from those applied in An- \u00a0
nual Report 2023. \u00a0
For the purpose of clarity, the notes to the financial statements are \u00a0
prepared using the concepts of materiality and relevance. This \u00a0
means that information not considered material in terms of quanti- \u00a0
tative and qualitative measures or relevant to financial statement \u00a0
users is not presented in the notes. \u00a0
Significant accounting estimates and judgements \u00a0
The preparation of financial information requires, in some cases, \u00a0
the use of judgements and estimates by management. This includes \u00a0
judgements made when applying accounting policies. The most sig- \u00a0
nificant judgements made when applying accounting policies relate \u00a0
to the fair value measurement of mortgage loans. \u00a0
Further, the carrying amounts of some assets and liabilities requires \u00a0
the estimation of the effects of uncertain future events on those as- \u00a0
sets and liabilities. The estimates are based on premises that man- \u00a0
agement finds reasonable but which are inherently uncertain and \u00a0
unpredictable. The premises may be incomplete, unexpected future \u00a0
events or situations may occur, and other parties may arrive at other \u00a0
estimated values. In view of the inherent uncertainties and the high \u00a0
level of subjectivity and judgement involved in the recognition and \u00a0
measurement of the following items, it is possible that the out- \u00a0
comes in the next financial year could differ from those on which \u00a0
management\u2019s estimates are based. \u00a0
Fair value measurement of mortgage loans \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on borrowers. In addition to the expected \u00a0
credit losses, a collective assessment determines the need for adjust- \u00a0
ments to reflect other components in the fair value measurement, \u00a0
such as an assessment of an investor\u2019s risk premium, compensation \u00a0
for administrative costs related to the loans and the possibility to in- \u00a0
crease the credit margin if the credit risk increases. \u00a0
The fair value of the credit risk on the borrower is based on the ex- \u00a0
pected credit loss impairment model in IFRS 9, which depends on \u00a0
whether the credit risk has increased significantly since initial \u00a0
recognition. If the credit risk has not increased significantly, the im- \u00a0
pairment charge equals the expected credit losses resulting from de- \u00a0
fault events that are possible within the next 12 months (stage 1). If \u00a0
the credit risk has increased significantly, the loan is more than 30 \u00a0
days past due, or the loans is in default or otherwise impaired, the \u00a0
impairment charge equals the lifetime expected credit losses (stages \u00a0
2 and 3). \u00a0
In determining the impairment for expected credit losses, manage- \u00a0
ment exercises judgement and uses estimates and assumptions. The \u00a0
expected credit loss is calculated for all individual loans as a func- \u00a0
tion of PD (probability of default), EAD (exposure at default) and \u00a0
LGD (loss given default) and incorporates forward-looking infor- \u00a0
mation. The estimation of expected credit losses involves forecast- \u00a0
ing future economic conditions over a number of years. Such fore- \u00a0
casts are subject to management judgement and those judgements \u00a0
may be sources of measurement uncertainty that have significant \u00a0
risk of resulting in a material adjustment to a carrying amount in fu- \u00a0
ture periods. \u00a0
The incorporation of forward-looking elements reflects the expecta- \u00a0
tions of the Group\u2019s senior management and involves the creation \u00a0
of scenarios (base case, upside and downside), including an assess- \u00a0
ment of the probability for each scenario. The purpose of using \u00a0
multiple scenarios is to model the non-linear impact of assumptions \u00a0
about macroeconomic factors on the expected credit losses. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. That is, after the \u00a0
forecast period, the macroeconomic scenarios revert slowly towards \u00a0
a steady state. \u00a0
The applied scenarios that drive the expected credit loss calculation \u00a0
in the fourth quarter of 2024 have been updated with the latest mac- \u00a0
roeconomic data. Compared to the end of 2023, the base case and \u00a0
upside scenarios have been revised to reflect expectations of lower \u00a0
inflation, decreasing interest rates, improved house prices and im- \u00a0
proved growth momentum. \u00a0
The base case is an extension of the Group\u2019s official view of the \u00a0
Nordic economies (the Nordic Outlook report). At 31 December \u00a0
2024, the base case scenario reflects a soft landing with economic \u00a0
growth moving toward normalised levels. Inflation is coming down \u00a0
quickly, and fairly rapid interest cuts are consequently expected. \u00a0
The Nordic property markets have generally recovered, and price \u00a0
increases are expected, as consumers regain purchasing power. \u00a0
The upside scenario represents a slightly better outlook than the \u00a0
base case scenario across the macroeconomic parameters. In this \u00a0
scenario, it is predominantly the European businesses\u2019 profit mar- \u00a0
gins and not prices that absorb the adjustment to higher wage costs \u00a0
and inflation returns more sustainably to target than in the base \u00a0
case. Central banks no longer hesitate to cut interest rates and all \u00a0
Nordic central banks loosen policies a bit quicker than in the base \u00a0
case. This boosts consumer sentiment, increasing private consump- \u00a0
tion and strengthening the housing market. \u00a0
The downside scenario is a severe recession with high interest rates \u00a0
scenario (reflecting a stagflation scenario) applied in the Group\u2019s \u00a0
ICAAP processes, which is similar in nature to regulatory stress \u00a0
tests. The severe recession scenario reflects negative growth, in- \u00a0
creasing interest rates, and falling property prices for a longer pe- \u00a0
riod. The use of the downside scenario was introduced to better cap- \u00a0
ture the elevated risk from high interest rates and high inflation. A \u00a0
trigger of the economic setback could be continued macroeconomic \u00a0
worsening and challenges linked to high business costs while infla- \u00a0
tion remain elevated. This adversely impacts the labour market, re- \u00a0
sults in higher and more persistent unemployment. This would lead \u00a0
to a severe slowdown in the economies in which the Group is repre- \u00a0
sented. \u00a0
The scenario weighting is unchanged from 2023. The weight on the \u00a0
base case scenario is 60% (60% in 2023), the upside scenario is \u00a0
weighted 20% (20% in 2023), and the downside scenario is \u00a0
weighted 20% (20% in 2023). \u00a0
At the end of 2024, the fair value adjustment of the credit risk on \u00a0
mortgage loans was calculated at DKK 2,837 million (2023: \u00a0
DKK 2,656 million), reducing the value of mortgage loans. The \u00a0
base case scenario enters with a probability of 60% (2023: 60%), \u00a0
the downside scenario with a probability of 20% (2023: 20%) and \u00a0
the upside scenario with a probability of 20% (2023: 20%). If the \u00a0
base case scenario was assigned a probability of 100%, the fair \u00a0
value adjustment at end-2024 would be DKK 2,375 million (2023: \u00a0
DKK 2,450 million). The fair value adjustment at the end of 2024 \u00a0
would increase to DKK 4,750 million (2023: DKK 4,225 million) if \u00a0
the downside scenario was assigned a probability of 100%. If in- \u00a0
stead the upside scenario was assigned a probability of 100%, the \u00a0
fair value adjustment would decrease to DKK 2,325 million (2023: \u00a0
DKK 2,400 million). \u00a0
According to the Group\u2019s definition of a significant increase in \u00a0
credit risk, i.e. when a loan is transferred from stage 1 to stage 2, \u00a0
loans with an initial PD below 1% are transferred to stage 2 if the \u00a0
loan\u2019s 12-month PD has increased by at least 0.5 of a percentage \u00a0
point and the loan\u2019s lifetime PD has doubled since origination. The \u00a0
allowance account is relatively stable in terms of changes to the def- \u00a0
inition of significant increase in credit risk. At 31 December 2024, \u00a0
the allowance account would increase by DKK 30 million (2023: \u00a0
DKK 25 million), if instead an increase in the loan\u2019s 12-month PD \u00a0
by at least 0.25 of a percentage point combined with a doubling of \u00a0
the lifetime PD was considered a significant increase in credit risk. \u00a0
Management applies judgement when determining the need for \u00a0
post-model adjustments. At the end of 2024, the post-model adjust- \u00a0
ments amounted to DKK 1,149 million (2023: DKK 1,241 million). \u00a0
The adjustments cover for instance specific macroeconomic risks on \u00a0
certain industries that are not specifically captured by the expected \u00a0
credit loss model e.g. effects from climate risk or the macroeco- \u00a0
nomic uncertainty. The total balance of post-model adjustments has \u00a0
been reduced slightly compared to end of 2023 mainly due to the \u00a0
improved macroeconomic outlook. \u00a0
Consolidation \u00a0
Group undertakings \u00a0
The financial statements consolidate the parent company and group \u00a0
undertakings in which the Group has control. Control exists if \u00a0
Realkredit Danmark A/S is exposed to variable returns from the en- \u00a0
tity and, directly or indirectly, holds more than half of the voting \u00a0
rights in an undertaking or otherwise has power to control manage- \u00a0
ment and operating policy decisions affecting the variable returns. \u00a0
The consolidated financial statements are prepared by consolidating \u00a0
items of the same nature and eliminating intra-group transactions, \u00a0
balances and trading profits and losses. \u00a0
Segment reporting \u00a0
Realkredit Danmark operates two primary business segments, mort- \u00a0
gage finance and a proprietary portfolio. The business segments are \u00a0
based on ongoing internal reporting of customer-facing activities \u00a0
(mortgage finance) and risk management (proprietary portfolio). \u00a0
The part of the bond portfolio that is not related to mortgage lend- \u00a0
ing operations is managed under the proprietary portfolio segment. \u00a0
Translation of transactions in foreign currencies \u00a0
The presentation currency of the consolidated financial statements \u00a0
is Danish kroner, which is the functional currency of Realkredit \u00a0
Danmark. \u00a0
Transactions in foreign currencies are translated into Danish kroner \u00a0
using the exchange rates applicable on the transaction date. Gains \u00a0
and losses on exchange rate differences arising between the transac- \u00a0
tion date and the settlement date are recognised in the income state- \u00a0
ment. \u00a0
Monetary assets and liabilities in foreign currency are translated at \u00a0
the exchange rates at the balance sheet date. Exchange rate adjust- \u00a0
ments of monetary assets and liabilities arising as a result of differ- \u00a0
ences in the exchange rates at the transaction date and at the balance \u00a0
sheet date are recognised in the income statement. \u00a0
Financial instruments \u2013 general \u00a0
Regular way purchases and sales of financial instruments are recog- \u00a0
nised and derecognised at the settlement date. Fair value adjust- \u00a0
ments of unsettled financial instruments are recognised from the \u00a0
trade date to the settlement date for financial instruments subse- \u00a0
quently recognised at fair value over profit or loss. \u00a0
Classification \u00a0
Financial assets are classified at initial recognition on the basis of \u00a0
the company\u2019s business model adopted for managing the assets and \u00a0
on their contractual cash flow characteristics (including embedded \u00a0
derivatives, if any) into one of the following measurement catego- \u00a0
ries: \u00a0
\u2022
Amortised cost if the assets are held exclusively for the \u00a0
purpose of collecting contractual cash flows and if the cash \u00a0
flows are payments of principal and interest on the princi- \u00a0
pal amount outstanding solely. \u00a0
\u2022
Fair value through other comprehensive income if the as- \u00a0
sets are held for the purpose of both collecting contractual \u00a0
cash flows and selling and if cash flows are payments of \u00a0
principal and interest on the principal amount outstanding \u00a0
solely. The Group has no financial assets in this category. \u00a0
\u2022
Fair value through profit or loss for all other financial as- \u00a0
sets. \u00a0
At initial recognition, a financial liability is assigned to one of the \u00a0
following categories: \u00a0
\u2022
Issued mortgage bonds are designated at fair value through \u00a0
profit or loss using the fair value option of IFRS 9 in order \u00a0
not to create an accounting mismatch that would otherwise \u00a0
arise. See below. \u00a0
\u2022
Other financial liabilities, including \u201cSenior debt\u201d meas- \u00a0
ured at amortised cost. \u00a0
Mortgage loans and issued mortgage bonds at fair value through \u00a0
profit or loss (FVPL) \u00a0
Mortgage loans granted under Danish mortgage finance law are \u00a0
funded by issuing listed mortgage bonds with matching terms. Bor- \u00a0
rowers may repay such mortgage loans by delivering the underly- \u00a0
ing bonds. This represents an option to prepay at the fair value of \u00a0
the underlying bonds, which can be both above and below the prin- \u00a0
cipal amount plus accrued interest. Such an option is not consistent \u00a0
with the solely payments of principal and interest test (SPPI test) in \u00a0
IFRS 9, as changes in the fair value of the underlying bonds reflect \u00a0
other factors than interest rate developments. Consequently, regard- \u00a0
less of the fact that the business model is to receive the contractual \u00a0
cash flows, such loans are mandatorily recognised at fair value \u00a0
through profit or loss. \u00a0
If the issued mortgage bonds are valued at amortised cost, and the \u00a0
mortgage loans, which are funded by the issued mortgage bonds \u00a0
with matching terms, are valued at fair value through profit or loss, \u00a0
a timing difference will arise in the recognition of gains and losses \u00a0
in the financial statements. \u00a0
To eliminate this random timing difference in the recognition of \u00a0
gains and losses, both mortgage loans and issued mortgage bonds \u00a0
are valued at fair value through profit or loss (for the issued bonds \u00a0
by using the fair value option of IFRS 9). \u00a0
The fair value of the mortgage loans is based on the fair value of \u00a0
the underlying mortgage bonds adjusted for the credit risk on bor- \u00a0
rower/the Group\u2019s customer. This entails that the fair value adjust- \u00a0
ment of the mortgage loans in all material respects balance out the \u00a0
fair value adjustment of the issued bonds. Consequently, the total \u00a0
fair value adjustment of the issued mortgage bonds, including the \u00a0
proportion relating to own credit risk, is recognised in the income \u00a0
statement, as recognition of the fair value adjustment of own credit \u00a0
risk in other comprehensive income would lead to an accounting \u00a0
mismatch in the income statement. \u00a0
The fair value adjustment of the mortgage loans and the issued \u00a0
mortgage bonds is recognised under Value adjustments, except for \u00a0
the part of the value adjustment that concerns the credit risk on \u00a0
mortgage loans: this part is recognised under Loan impairment \u00a0
charges. \u00a0
The table below shows the distribution of the Group\u2019s financial instruments by valuation method: \u00a0
Fair value through profit or loss \u00a0
Managed on fair- \u00a0
Due to \u00a0
Amortised cost \u00a0
Trading portfolio \u00a0
value basis \u00a0
SPPI test \u00a0
Designated \u00a0
Total \u00a0
Assets \u00a0
Cash in hand and demand deposits \u00a0
with central banks \u00a0
10,802 \u00a0
-
-
-
-
10,802 \u00a0
Due from credit institutions and \u00a0
central banks \u00a0
6,826 \u00a0
-
-
-
-
6,826 \u00a0
Bonds \u00a0
27,922 \u00a0
-
24,367 \u00a0
-
-
52,289 \u00a0
Loans \u00a0
207 \u00a0
-
-
755,539 \u00a0
-
755,746 \u00a0
Shares \u00a0
-
-
2
-
-
2
Derivatives (Other assets) \u00a0
-
22 \u00a0
-
-
-
22 \u00a0
Total assets, 31 December 2024 \u00a0
45,757 \u00a0
22 \u00a0
24,369 \u00a0
755,539 \u00a0
-
825,687 \u00a0
Total assets, 31 December 2023 \u00a0
44,610 \u00a0
29 \u00a0
16,807 \u00a0
753,624 \u00a0
-
815,070 \u00a0
Liabilities \u00a0
Due to credit institutions and central \u00a0
banks \u00a0
3,500 \u00a0
-
-
-
-
3,500 \u00a0
Issued bonds \u00a0
-
-
-
-
762,125 \u00a0
762,125 \u00a0
Derivatives (Other liabilities) \u00a0
-
9
-
-
-
9
Total liabilities, 31 December 2024 \u00a0
3,500 \u00a0
9
-
-
762,125 \u00a0
765,634 \u00a0
Total liabilities, 31 December 2023 \u00a0
2,000 \u00a0
186 \u00a0
-
-
756,509 \u00a0
758,695 \u00a0
BALANCE SHEET \u00a0
Bonds at fair value \u00a0
At initial recognition, these bonds are measured at fair value, ex- \u00a0
cluding transaction costs. Subsequently, bonds are measured at fair \u00a0
value through profit or loss. The bonds form part of a portfolio, \u00a0
which is managed on a fair value basis. \u00a0
If an active market exists, fair value is based on the most recently \u00a0
observed market price at the balance sheet date. \u00a0
If a bond is quoted in a market that is not active, the Group bases its \u00a0
measurement on the most recent transaction price. Adjustment is \u00a0
made for subsequent changes in market conditions, for instance by \u00a0
including transactions in similar bonds that are motivated by normal \u00a0
business considerations. \u00a0
If no active market exists, fair value is estimated on the basis of \u00a0
generally accepted valuation techniques and market-based parame- \u00a0
ters. \u00a0
Bonds at amortised cost \u00a0
Realkredit Danmark has a bond portfolio held for the purpose of \u00a0
generating a known return until maturity. The bonds are measured \u00a0
at amortised cost. Interest rate risk is not hedged. Impairment \u00a0
charges are made for expected credit losses on the basis of a classi- \u00a0
fication of the bonds into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for bonds in stage 1 and the \u00a0
present value of lifetime expected credit losses for bonds in stages 2 \u00a0
and 3, cf. the description below in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. For calculating the present \u00a0
value of expected credit losses for discounting purposes, the origi- \u00a0
nal effective interest rate is used instead of the current interest rate. \u00a0
Mortgage loans and Issued mortgage bonds at fair value \u00a0
At initial recognition, mortgage loans and issued mortgage bonds \u00a0
are measured at fair value, excluding transaction costs. Subse- \u00a0
quently, these financial instruments are measured at fair value \u00a0
through profit or loss. \u00a0
The fair value of the issued mortgage bonds will usually equal the \u00a0
quoted market price. However, a small part of the issued bonds are \u00a0
illiquid, and the fair value of these bonds is calculated on the basis \u00a0
of a discounted cash flow valuation model. \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on the borrowers. The IFRS 13 estimate of \u00a0
the fair value of the expected credit losses is calculated on the basis \u00a0
of the IFRS 9 model for calculating impairment of losses on loans \u00a0
at amortised cost: expected credit losses, including the classifica- \u00a0
tion of loans between stages 1, 2 and 3: \u00a0
Stage 1: If the credit risk has not increased significantly, the impair- \u00a0
ment equals the expected credit losses resulting from default events \u00a0
that are possible within the next 12 months, see however below on \u00a0
the collective assessment of the need for further adjustments. \u00a0
Stage 2: If the credit risk has increased significantly, the loan is \u00a0
transferred to stage 2 and an impairment charge equal to the life- \u00a0
time expected credit losses is recognised. A significant credit risk \u00a0
increase is considered to occur when the following increase in the \u00a0
probability of default (PD) is observed: \u00a0
\u2022
For loans originated below 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of at least 0.5 of a percentage point \u00a0
since origination and a doubling of the loan\u2019s lifetime PD \u00a0
since origination \u00a0
\u2022
For loans originated above 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of 2 percentage points since origination \u00a0
or a doubling of the loan\u2019s lifetime PD since origination \u00a0
\u2022
Further, loans that are more than 30 days past due are moved \u00a0
from stage 1 to stage 2. Finally, customers subject to forbear- \u00a0
ance measures are placed in stage 2, if the Group, in the most \u00a0
likely outcome, expects no loss or the customers are in the 2- \u00a0
year probation period for performing forborne exposures. \u00a0
Stage 3: If the loan is in default, it is transferred to stage 3. A facil- \u00a0
ity becomes credit-impaired when one or more events that have a \u00a0
detrimental impact on the estimated future cash flows have oc- \u00a0
curred. This includes observable data about (a) significant financial \u00a0
difficulty of the borrower; (b) a breach of contract, such as a default \u00a0
or past due event; (c) the borrower, for reasons relating to the bor- \u00a0
rower\u2019s financial difficulty, is granted a concession; (d) it is proba- \u00a0
ble that the borrower will enter into bankruptcy. Credit-impaired fa- \u00a0
cilities are placed in Realkredit Danmark\u2019s rating category 11. For \u00a0
rating category 11, all exposures are classified as stage 3. The \u00a0
Realkredit Danmark Group uses the option to continue to recognise \u00a0
interest income on mortgage loans measured at fair value on the ba- \u00a0
sis of the contractual interest rates. \u00a0
A definition of default is used in the measurement of expected \u00a0
credit losses and the assessment to determine movements between \u00a0
stages. The definition of default is also used for internal credit risk \u00a0
management and capital adequacy purposes. To support a more har- \u00a0
monised approach regarding the application of the definition of de- \u00a0
fault, the European Banking Authority (EBA) issued the following \u00a0
products that guide the application of the definition of default: the \u00a0
Guidelines on the application of the definition of default, \u00a0
EBA/GL/2016/07 and the Regulatory Technical Standards (RTS) \u00a0
on the materiality threshold for credit obligations past due, \u00a0
EBA/RTS/2016/06. \u00a0
The Group\u2019s definition of default for accounting purposes aligns \u00a0
with the regulatory purposes. All exposures that are considered de- \u00a0
fault are also considered Stage 3 exposures. This is applicable for \u00a0
exposures that are default due to either the 90 days past due default \u00a0
trigger or the unlikeliness to pay default triggers. \u00a0
The expected credit loss is calculated for all individual loans as a \u00a0
function of the probability of default (PD), the exposure at default \u00a0
(EaD) and the loss given default (LGD). \u00a0
The lifetime expected credit losses cover the expected remaining \u00a0
lifetime of the loan. For most loans, the expected lifetime is limited \u00a0
to the remaining contractual maturity and adjusted for expected pre- \u00a0
payment. For exposures with weak credit quality, the likelihood of \u00a0
prepayment is not included. \u00a0
The forward-looking elements of the calculation reflect the current \u00a0
expectations of senior management. The Danske Bank Group\u2019s inde- \u00a0
pendent macroeconomic research unit creates three macroeconomic \u00a0
scenarios (base case, upside and downside), including an assessment \u00a0
of the probability for each scenario. The purpose of using multiple \u00a0
scenarios is to model the non-linear impact of assumptions about \u00a0
macroeconomic factors on the expected credit losses. Afterwards \u00a0
there is a process to ensure review and sign-off of the scenarios. \u00a0
Management\u2019s approval of scenarios can include adjustments to the \u00a0
scenarios or to which scenarios are used, the assigned probability \u00a0
weighting and post-model adjustments to cover the outlook for par- \u00a0
ticular high-risk portfolios, which are not provided by the Group\u2019s \u00a0
macroeconomists. The approved scenarios are used to calculate the \u00a0
impairment levels. Technically, the forward-looking information is \u00a0
used directly in the PDs through an estimate of general changes to \u00a0
the PDs and the LGDs in the expected credit loss calculation. How- \u00a0
ever, for significant exposures in stage 3, an individual assessment \u00a0
of the scenarios, changes to expected credit losses and the related \u00a0
probabilities are performed by senior credit officers. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. The base case is \u00a0
based on the macroeconomic outlook as disclosed in the Danske \u00a0
Bank Group\u2019s Nordic Outlook reports. \u00a0
In addition, a collective assessment determines the need for further \u00a0
adjustments to reflect other components in the fair value measure- \u00a0
ment, such as an assessment of an investor\u2019s risk premium, compen- \u00a0
sation for administrative costs related to the loans and the possibility \u00a0
of increasing the credit margin if the credit risk increases. This as- \u00a0
sessment also takes into consideration the fact that initial recogni- \u00a0
tion of 12-month expected credit losses is not in accordance with \u00a0
fair value, and the fact that the expected credit losses during the life- \u00a0
time of the asset should be included in the assessment even if the \u00a0
credit risk has not increased significantly. \u00a0
Loans considered uncollectible are written off. Write-offs are deb- \u00a0
ited to the allowance account. Loans are written off once the usual \u00a0
collection procedure has been completed and the loss on the individ- \u00a0
ual loan can be calculated. \u00a0
Due from credit institutions and central banks and Loans and \u00a0
other amounts due at amortised cost \u00a0
Amounts due from credit institutions and central banks comprise \u00a0
amounts due from other credit institutions and time deposits with \u00a0
central banks. Reverse transactions (purchases of securities from \u00a0
credit institutions and central banks that the Group agrees to resell \u00a0
at a later date) are recognised as Amounts due from credit institu- \u00a0
tions and central banks with collateral in the securities received. Re- \u00a0
verse transactions are made on standard terms and conditions. \u00a0
These financial assets are held for the purpose of achieving the con- \u00a0
tractual return until expiry and have contractual cash flows reflect- \u00a0
ing repayment of principal and interest thereon. Loans and other \u00a0
amounts due are therefore carried at amortised cost and consist of \u00a0
mortgage payments due and other outlays relating to mortgage loans \u00a0
as well as claims against individual borrowers and reserve fund \u00a0
mortgages, etc. \u00a0
Impairments are made for expected credit losses on the basis of a \u00a0
classification of the loans into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for loans in stage 1 and the \u00a0
present value of lifetime expected credit losses for loans in stages 2 \u00a0
and 3, cf. the description above in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. \u00a0
Assets temporarily taken over \u00a0
Assets temporarily taken over include tangible assets, which accord- \u00a0
ing to a publicly announced plan, the Group expects to sell within \u00a0
twelve months. Such assets are measured at the lower of their carry- \u00a0
ing amount at the time of classification and their fair value less ex- \u00a0
pected costs to sell and are no longer depreciated. \u00a0
Properties taken over in connection with non-performing loans and \u00a0
which are likely to be sold within 12 months are presented under \u00a0
Assets temporarily taken over. Subsequent fair value adjustments \u00a0
and gains or losses on disposal are recognised under Loan impair- \u00a0
ment charges. \u00a0
Other assets \u00a0
Pension assets \u00a0
The Group\u2019s pension obligations generally consist of defined contri- \u00a0
bution pension plans for its staff. Under the defined contribution \u00a0
plans, the Group pays regular contributions to insurance companies \u00a0
and other institutions. Such payments are expensed as they are \u00a0
earned by the staff, and the obligations under the plans are taken \u00a0
over by the insurance companies and other institutions. \u00a0
Furthermore, the Group operates a defined benefit plan maintained \u00a0
under Kreditforeningen Danmarks Pensionsafviklingskasse (pension \u00a0
fund). Realkredit Danmark A/S guarantees future payment of a de- \u00a0
fined benefit from the time of retirement. \u00a0
The pension fund and Realkredit Danmark\u2019s defined benefit plan \u00a0
have not accepted new members since 1971, so no pension contribu- \u00a0
tions are made. Accordingly, there are no service costs. \u00a0
The amounts payable are recognised on the basis of an actuarial \u00a0
computation of the present value of expected benefits. The present \u00a0
value is calculated on the basis of expected future trends in salaries \u00a0
and interest rates, time of retirement, mortality rate and other fac- \u00a0
tors. \u00a0
The fair value of pension assets less the present value of pension \u00a0
benefits is carried as a pension asset under Other assets in the bal- \u00a0
ance sheet. \u00a0
Due to credit institutions and central banks \u00a0
Due to credit institutions and central banks include amounts re- \u00a0
ceived under repo transactions. These deposits are recognised as \u00a0
debt with collateral in the securities surrendered. Repo transactions \u00a0
are made on standard terms and conditions. Amounts due to credit \u00a0
institutions and central banks are measured at amortised cost. \u00a0
Deferred tax assets/Deferred tax liabilities \u00a0
Deferred tax on all temporary differences between the tax base of \u00a0
assets and liabilities and their carrying amounts is accounted for in \u00a0
accordance with the balance sheet liability method. Deferred tax is \u00a0
recognised under Deferred tax assets or Deferred tax liabilities. \u00a0
Deferred tax is measured on the basis of the tax regulations and \u00a0
rates that, according to the rules in force at the balance sheet date, \u00a0
will apply at the time the deferred tax is expected to crystallise as \u00a0
current tax. Changes in deferred tax as a result of adopted changes \u00a0
in tax rates are recognised in the income statement based on ex- \u00a0
pected cash flows. \u00a0
Current tax assets/Current tax liabilities \u00a0
Current tax assets and liabilities are recognised in the balance sheet \u00a0
as the estimated tax charge on the profit for the year adjusted for \u00a0
prepaid tax and prior-year tax payables and receivables. \u00a0
Tax assets and liabilities are offset if the Group has a legally en- \u00a0
forceable right to set off such assets and liabilities and intends either \u00a0
to settle the assets and liabilities on a net basis or to realise the as- \u00a0
sets and settle the liabilities simultaneously. \u00a0
Shareholders\u2019 equity \u00a0
Reserves in series \u00a0
Reserves in series comprise series established before 1972 with \u00a0
joint and several liability, series established after 1972 without joint \u00a0
and several liability, other series, including Danske Kredit and \u00a0
mortgage-covered bonds. \u00a0
Other reserves \u00a0
Other reserves comprise the mortgage credit business that is not in- \u00a0
cluded in reserves in series. \u00a0
Proposed dividends \u00a0
The Board of Directors\u2019 proposal for dividends for the year submit- \u00a0
ted to the general meeting is included as a separate reserve in share- \u00a0
holders\u2019 equity. The dividends are recognised as a liability when the \u00a0
general meeting has adopted the proposal. \u00a0
INCOME STATEMENT \u00a0
Interest income and expense \u00a0
Interest income and expenses include interest and administration \u00a0
margins on financial instruments measured at fair value. \u00a0
Fees and commission income and expense \u00a0
Income, including origination fees, from mortgage loans carried at \u00a0
fair value is recognised when the transaction is completed. \u00a0
Income and expenses for services provided over a period of time are \u00a0
accrued over the period. Transaction fees are recognised on comple- \u00a0
tion of the individual transaction. \u00a0
Value adjustments \u00a0
Value adjustments comprise realised and unrealised capital gains \u00a0
and losses on bonds at fair value, mortgage loans, issued mortgage \u00a0
bonds and fixed-price agreements as well as exchange rate adjust- \u00a0
ments. \u00a0
Staff costs and administrative expenses \u00a0
Staff costs \u00a0
Salaries and other remuneration that the Group expects to pay for \u00a0
work carried out during the year are expensed under Staff costs and \u00a0
administrative expenses. This item comprises salaries, bonuses, ex- \u00a0
penses for share-based payments, holiday allowances, anniversary \u00a0
bonuses, pension costs and other remuneration. Performance-based \u00a0
pay is expensed as it is earned. \u00a0
Performance-based pay and share-based payments \u00a0
Performance-based pay is expensed as it is earned. Part of the per- \u00a0
formance-based pay for the year is paid in the form of conditional \u00a0
shares issued by Danske Bank. Rights to shares under the condi- \u00a0
tional share programme vest up to five years after being granted \u00a0
provided that the employee, with the exception of retirement, has \u00a0
not resigned from the Group. Retirement is not considered as resig- \u00a0
nation. \u00a0
The fair value of share-based payments at the grant date is expensed \u00a0
over the service period that unconditionally entitles the employee to \u00a0
the payment. The intrinsic value of the share-based payments is ex- \u00a0
pensed in the year in which the share-based payments are earned, \u00a0
whereas the time value (if any) is accrued over the remaining ser- \u00a0
vice period. Expenses are set off against shareholders\u2019 equity. The \u00a0
increase in shareholders\u2019 equity is eliminated by set-off against an \u00a0
interim account with Danske Bank A/S. Subsequent changes in the \u00a0
fair value are not recognised in the income statement. \u00a0
Pension obligations \u00a0
The Group\u2019s contributions to defined contribution pension plans are \u00a0
recognised in the income statement as they are earned by the em- \u00a0
ployees. \u00a0
Loan impairment charges \u00a0
Loan impairment charges include the fair value adjustment of the \u00a0
credit risk on mortgage loans as well as losses on and impairment \u00a0
charges for other loans and amounts due. \u00a0
The item also includes impairment charges and realised gains and \u00a0
losses on acquired assets if the assets qualify as assets temporarily \u00a0
taken over. \u00a0
Tax \u00a0
Calculated current and deferred tax on the profit for the year and ad- \u00a0
justments of tax charges for previous years are recognised in the in- \u00a0
come statement. Tax on items recognised in Other comprehensive \u00a0
income is recognised in Other comprehensive income. Similarly, tax \u00a0
on items recognised in shareholders\u2019 equity is recognised in Share- \u00a0
holders\u2019 equity. \u00a0
Comprehensive income \u00a0
Total comprehensive income includes the net profit for the year and \u00a0
other comprehensive income. Other comprehensive income also in- \u00a0
cludes actuarial gains or losses on defined benefit pension plans. \u00a0
Cash flow statement \u00a0
The cash flow statement is prepared according to the indirect \u00a0
method. The statement is based on profit for the year before tax and \u00a0
shows the consolidated cash flows from operating, investing and fi- \u00a0
nancing activities and the increase or decrease in cash and cash \u00a0
equivalents during the year. \u00a0
Cash and cash equivalents consists of Cash in hand and demand de- \u00a0
posits with central banks and amounts due from credit institutions \u00a0
and central banks with an original maturity shorter than three \u00a0
months. \u00a0
Reporting on the ESEF Regulation \u00a0
The Commission\u2019s Delegated Regulation (EU) 2019/815 on the Eu- \u00a0
ropean Single Electronic Format (ESEF Regulation) requires a spe- \u00a0
cial digital reporting format for annual report for publicly listed en- \u00a0
tities. The ESEF Regulation includes requirements related to the \u00a0
preparation of the annual report in XHTML format and iXBRL tag- \u00a0
ging of the consolidated financial statements key elements including \u00a0
income statement, statement of comprehensive income, balance \u00a0
sheet, statement of capital, cash flow statement and notes. \u00a0
Realkredit Danmark A/S\u2019 iXBRL tagging is prepared in accordance \u00a0
to the ESEF taxonomy which is included in the appendices of the \u00a0
ESEF Regulation and is developed based on the IFRS taxonomy \u00a0
that is published by IFRS Foundation. For the annual report for \u00a0
2024 the ESEF Taxonomy for 2022 has been applied. \u00a0
The account balances in the consolidated financial statements are \u00a0
XBRL tagged to the elements in the European Single Electronic Re- \u00a0
porting (ESEF) Regulation that are assessed to correspond to the \u00a0
content of the account balances. For account balances that are as- \u00a0
sessed not to be covered by the account balances defined in the \u00a0
ESEF taxonomy, Realkredit Danmark A/S has incorporated entity \u00a0
specific extensions to the taxonomy. These extensions are \u2013 except \u00a0
subtotals \u2013 embedded in the elements in the ESEF taxonomy. \u00a0
Annual report 2024 comprises \u2013 in accordance with the require- \u00a0
ments of the ESEF Regulation \u2013 a zip-file RealkreditDanmark- \u00a0
2024-12-31-0-en.zip, that includes an XHTML-file, that can be \u00a0
opened with standard web browsers and a number of technical \u00a0
XBRL files that make automated extracts of the incorporated XBRL \u00a0
data possible. \u00a0
Standards and interpretations not yet in force \u00a0
The International Accounting Standards Board (IASB) has issued \u00a0
two new international accounting standards (IFRS 18, Presentation \u00a0
and disclosure in financial statements, and IFRS 19, Subsidiaries \u00a0
without public accountability) and amendments to existing interna- \u00a0
tional accounting standards (IFRS 7, IFRS 9 and IAS 21) that have \u00a0
not yet come into force. \u00a0
IFRS 18 replaces IAS 1, Presentation of financial statements, with \u00a0
particular focus on the presentation of the Income statement, and the \u00a0
introduction of Management performance measures. At time of writ- \u00a0
ing, it is being assessed how IFRS 18 will impact the presentation of \u00a0
the Income statement, however IFRS 18 will not impact sharehold- \u00a0
ers equity. IFRS 18 is effective for annual reports beginning on or \u00a0
after 1 January 2027. \u00a0
IFRS 19 and the amendments to other standards are not expected to \u00a0
have any material impact on the Group\u2019s financial statements. \u00a0
Accounting policies for the parent company \u00a0
The financial statements of the parent company are prepared in ac- \u00a0
cordance with the Danish Financial Business Act and the Danish \u00a0
FSA\u2019s Executive Order No. 281 of 26 March 2014 on Financial Re- \u00a0
ports for Credit Institutions and Investment Companies, etc. as \u00a0
amended by Executive Order no. 707 of 1 June 2016, Executive Or- \u00a0
der No. 1043 of 5 September 2017, Executive Order No. 1441 of 3 \u00a0
December 2018, Executive Order No. 1593 of 9 November 2020, \u00a0
Executive Order no. 116 of 27 January 2023 and Executive Order \u00a0
no. 516 of 17 May 2024. The rules are consistent with the Group\u2019s \u00a0
measurement principles under IFRS. \u00a0
Holdings in subsidiary undertakings are measured using the equity \u00a0
method. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1550": {
"value": "MATERIAL ACCOUNTING POLICIES \u00a0
General \u00a0
Realkredit Danmark prepares its consolidated financial statements \u00a0
in accordance with International Financial Reporting Standards \u00a0
(IFRS Accounting Standards) and applicable interpretations \u00a0
(IFRIC) issued by the International Accounting Standards Board \u00a0
(IASB), as adopted by the EU. Furthermore, the consolidated finan- \u00a0
cial statements comply with the Danish FSA\u2019s executive order No. \u00a0
1306 dated 16 December 2008 on the use of IFRS Accounting \u00a0
Standards by undertakings subject to the Danish Financial Business \u00a0
Act. \u00a0
Changes to material accounting policies \u00a0
Amendments to IFRS 7 and IAS 7 (supplier finance arrangements), \u00a0
IFRS 16 (sale and leaseback transactions), and IAS 1 (classification \u00a0
of liabilities; liabilities with covenants) became effective for the \u00a0
period beginning 1 January 2024. The amendments had no impact \u00a0
on the financial statements. \u00a0
The accounting policies are unchanged from those applied in An- \u00a0
nual Report 2023. \u00a0
For the purpose of clarity, the notes to the financial statements are \u00a0
prepared using the concepts of materiality and relevance. This \u00a0
means that information not considered material in terms of quanti- \u00a0
tative and qualitative measures or relevant to financial statement \u00a0
users is not presented in the notes. \u00a0
Significant accounting estimates and judgements \u00a0
The preparation of financial information requires, in some cases, \u00a0
the use of judgements and estimates by management. This includes \u00a0
judgements made when applying accounting policies. The most sig- \u00a0
nificant judgements made when applying accounting policies relate \u00a0
to the fair value measurement of mortgage loans. \u00a0
Further, the carrying amounts of some assets and liabilities requires \u00a0
the estimation of the effects of uncertain future events on those as- \u00a0
sets and liabilities. The estimates are based on premises that man- \u00a0
agement finds reasonable but which are inherently uncertain and \u00a0
unpredictable. The premises may be incomplete, unexpected future \u00a0
events or situations may occur, and other parties may arrive at other \u00a0
estimated values. In view of the inherent uncertainties and the high \u00a0
level of subjectivity and judgement involved in the recognition and \u00a0
measurement of the following items, it is possible that the out- \u00a0
comes in the next financial year could differ from those on which \u00a0
management\u2019s estimates are based. \u00a0
Fair value measurement of mortgage loans \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on borrowers. In addition to the expected \u00a0
credit losses, a collective assessment determines the need for adjust- \u00a0
ments to reflect other components in the fair value measurement, \u00a0
such as an assessment of an investor\u2019s risk premium, compensation \u00a0
for administrative costs related to the loans and the possibility to in- \u00a0
crease the credit margin if the credit risk increases. \u00a0
The fair value of the credit risk on the borrower is based on the ex- \u00a0
pected credit loss impairment model in IFRS 9, which depends on \u00a0
whether the credit risk has increased significantly since initial \u00a0
recognition. If the credit risk has not increased significantly, the im- \u00a0
pairment charge equals the expected credit losses resulting from de- \u00a0
fault events that are possible within the next 12 months (stage 1). If \u00a0
the credit risk has increased significantly, the loan is more than 30 \u00a0
days past due, or the loans is in default or otherwise impaired, the \u00a0
impairment charge equals the lifetime expected credit losses (stages \u00a0
2 and 3). \u00a0
In determining the impairment for expected credit losses, manage- \u00a0
ment exercises judgement and uses estimates and assumptions. The \u00a0
expected credit loss is calculated for all individual loans as a func- \u00a0
tion of PD (probability of default), EAD (exposure at default) and \u00a0
LGD (loss given default) and incorporates forward-looking infor- \u00a0
mation. The estimation of expected credit losses involves forecast- \u00a0
ing future economic conditions over a number of years. Such fore- \u00a0
casts are subject to management judgement and those judgements \u00a0
may be sources of measurement uncertainty that have significant \u00a0
risk of resulting in a material adjustment to a carrying amount in fu- \u00a0
ture periods. \u00a0
The incorporation of forward-looking elements reflects the expecta- \u00a0
tions of the Group\u2019s senior management and involves the creation \u00a0
of scenarios (base case, upside and downside), including an assess- \u00a0
ment of the probability for each scenario. The purpose of using \u00a0
multiple scenarios is to model the non-linear impact of assumptions \u00a0
about macroeconomic factors on the expected credit losses. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. That is, after the \u00a0
forecast period, the macroeconomic scenarios revert slowly towards \u00a0
a steady state. \u00a0
The applied scenarios that drive the expected credit loss calculation \u00a0
in the fourth quarter of 2024 have been updated with the latest mac- \u00a0
roeconomic data. Compared to the end of 2023, the base case and \u00a0
upside scenarios have been revised to reflect expectations of lower \u00a0
inflation, decreasing interest rates, improved house prices and im- \u00a0
proved growth momentum. \u00a0
The base case is an extension of the Group\u2019s official view of the \u00a0
Nordic economies (the Nordic Outlook report). At 31 December \u00a0
2024, the base case scenario reflects a soft landing with economic \u00a0
growth moving toward normalised levels. Inflation is coming down \u00a0
quickly, and fairly rapid interest cuts are consequently expected. \u00a0
The Nordic property markets have generally recovered, and price \u00a0
increases are expected, as consumers regain purchasing power. \u00a0
The upside scenario represents a slightly better outlook than the \u00a0
base case scenario across the macroeconomic parameters. In this \u00a0
scenario, it is predominantly the European businesses\u2019 profit mar- \u00a0
gins and not prices that absorb the adjustment to higher wage costs \u00a0
and inflation returns more sustainably to target than in the base \u00a0
case. Central banks no longer hesitate to cut interest rates and all \u00a0
Nordic central banks loosen policies a bit quicker than in the base \u00a0
case. This boosts consumer sentiment, increasing private consump- \u00a0
tion and strengthening the housing market. \u00a0
The downside scenario is a severe recession with high interest rates \u00a0
scenario (reflecting a stagflation scenario) applied in the Group\u2019s \u00a0
ICAAP processes, which is similar in nature to regulatory stress \u00a0
tests. The severe recession scenario reflects negative growth, in- \u00a0
creasing interest rates, and falling property prices for a longer pe- \u00a0
riod. The use of the downside scenario was introduced to better cap- \u00a0
ture the elevated risk from high interest rates and high inflation. A \u00a0
trigger of the economic setback could be continued macroeconomic \u00a0
worsening and challenges linked to high business costs while infla- \u00a0
tion remain elevated. This adversely impacts the labour market, re- \u00a0
sults in higher and more persistent unemployment. This would lead \u00a0
to a severe slowdown in the economies in which the Group is repre- \u00a0
sented. \u00a0
The scenario weighting is unchanged from 2023. The weight on the \u00a0
base case scenario is 60% (60% in 2023), the upside scenario is \u00a0
weighted 20% (20% in 2023), and the downside scenario is \u00a0
weighted 20% (20% in 2023). \u00a0
At the end of 2024, the fair value adjustment of the credit risk on \u00a0
mortgage loans was calculated at DKK 2,837 million (2023: \u00a0
DKK 2,656 million), reducing the value of mortgage loans. The \u00a0
base case scenario enters with a probability of 60% (2023: 60%), \u00a0
the downside scenario with a probability of 20% (2023: 20%) and \u00a0
the upside scenario with a probability of 20% (2023: 20%). If the \u00a0
base case scenario was assigned a probability of 100%, the fair \u00a0
value adjustment at end-2024 would be DKK 2,375 million (2023: \u00a0
DKK 2,450 million). The fair value adjustment at the end of 2024 \u00a0
would increase to DKK 4,750 million (2023: DKK 4,225 million) if \u00a0
the downside scenario was assigned a probability of 100%. If in- \u00a0
stead the upside scenario was assigned a probability of 100%, the \u00a0
fair value adjustment would decrease to DKK 2,325 million (2023: \u00a0
DKK 2,400 million). \u00a0
According to the Group\u2019s definition of a significant increase in \u00a0
credit risk, i.e. when a loan is transferred from stage 1 to stage 2, \u00a0
loans with an initial PD below 1% are transferred to stage 2 if the \u00a0
loan\u2019s 12-month PD has increased by at least 0.5 of a percentage \u00a0
point and the loan\u2019s lifetime PD has doubled since origination. The \u00a0
allowance account is relatively stable in terms of changes to the def- \u00a0
inition of significant increase in credit risk. At 31 December 2024, \u00a0
the allowance account would increase by DKK 30 million (2023: \u00a0
DKK 25 million), if instead an increase in the loan\u2019s 12-month PD \u00a0
by at least 0.25 of a percentage point combined with a doubling of \u00a0
the lifetime PD was considered a significant increase in credit risk. \u00a0
Management applies judgement when determining the need for \u00a0
post-model adjustments. At the end of 2024, the post-model adjust- \u00a0
ments amounted to DKK 1,149 million (2023: DKK 1,241 million). \u00a0
The adjustments cover for instance specific macroeconomic risks on \u00a0
certain industries that are not specifically captured by the expected \u00a0
credit loss model e.g. effects from climate risk or the macroeco- \u00a0
nomic uncertainty. The total balance of post-model adjustments has \u00a0
been reduced slightly compared to end of 2023 mainly due to the \u00a0
improved macroeconomic outlook. \u00a0
Consolidation \u00a0
Group undertakings \u00a0
The financial statements consolidate the parent company and group \u00a0
undertakings in which the Group has control. Control exists if \u00a0
Realkredit Danmark A/S is exposed to variable returns from the en- \u00a0
tity and, directly or indirectly, holds more than half of the voting \u00a0
rights in an undertaking or otherwise has power to control manage- \u00a0
ment and operating policy decisions affecting the variable returns. \u00a0
The consolidated financial statements are prepared by consolidating \u00a0
items of the same nature and eliminating intra-group transactions, \u00a0
balances and trading profits and losses. \u00a0
Segment reporting \u00a0
Realkredit Danmark operates two primary business segments, mort- \u00a0
gage finance and a proprietary portfolio. The business segments are \u00a0
based on ongoing internal reporting of customer-facing activities \u00a0
(mortgage finance) and risk management (proprietary portfolio). \u00a0
The part of the bond portfolio that is not related to mortgage lend- \u00a0
ing operations is managed under the proprietary portfolio segment. \u00a0
Translation of transactions in foreign currencies \u00a0
The presentation currency of the consolidated financial statements \u00a0
is Danish kroner, which is the functional currency of Realkredit \u00a0
Danmark. \u00a0
Transactions in foreign currencies are translated into Danish kroner \u00a0
using the exchange rates applicable on the transaction date. Gains \u00a0
and losses on exchange rate differences arising between the transac- \u00a0
tion date and the settlement date are recognised in the income state- \u00a0
ment. \u00a0
Monetary assets and liabilities in foreign currency are translated at \u00a0
the exchange rates at the balance sheet date. Exchange rate adjust- \u00a0
ments of monetary assets and liabilities arising as a result of differ- \u00a0
ences in the exchange rates at the transaction date and at the balance \u00a0
sheet date are recognised in the income statement. \u00a0
Financial instruments \u2013 general \u00a0
Regular way purchases and sales of financial instruments are recog- \u00a0
nised and derecognised at the settlement date. Fair value adjust- \u00a0
ments of unsettled financial instruments are recognised from the \u00a0
trade date to the settlement date for financial instruments subse- \u00a0
quently recognised at fair value over profit or loss. \u00a0
Classification \u00a0
Financial assets are classified at initial recognition on the basis of \u00a0
the company\u2019s business model adopted for managing the assets and \u00a0
on their contractual cash flow characteristics (including embedded \u00a0
derivatives, if any) into one of the following measurement catego- \u00a0
ries: \u00a0
\u2022
Amortised cost if the assets are held exclusively for the \u00a0
purpose of collecting contractual cash flows and if the cash \u00a0
flows are payments of principal and interest on the princi- \u00a0
pal amount outstanding solely. \u00a0
\u2022
Fair value through other comprehensive income if the as- \u00a0
sets are held for the purpose of both collecting contractual \u00a0
cash flows and selling and if cash flows are payments of \u00a0
principal and interest on the principal amount outstanding \u00a0
solely. The Group has no financial assets in this category. \u00a0
\u2022
Fair value through profit or loss for all other financial as- \u00a0
sets. \u00a0
At initial recognition, a financial liability is assigned to one of the \u00a0
following categories: \u00a0
\u2022
Issued mortgage bonds are designated at fair value through \u00a0
profit or loss using the fair value option of IFRS 9 in order \u00a0
not to create an accounting mismatch that would otherwise \u00a0
arise. See below. \u00a0
\u2022
Other financial liabilities, including \u201cSenior debt\u201d meas- \u00a0
ured at amortised cost. \u00a0
Mortgage loans and issued mortgage bonds at fair value through \u00a0
profit or loss (FVPL) \u00a0
Mortgage loans granted under Danish mortgage finance law are \u00a0
funded by issuing listed mortgage bonds with matching terms. Bor- \u00a0
rowers may repay such mortgage loans by delivering the underly- \u00a0
ing bonds. This represents an option to prepay at the fair value of \u00a0
the underlying bonds, which can be both above and below the prin- \u00a0
cipal amount plus accrued interest. Such an option is not consistent \u00a0
with the solely payments of principal and interest test (SPPI test) in \u00a0
IFRS 9, as changes in the fair value of the underlying bonds reflect \u00a0
other factors than interest rate developments. Consequently, regard- \u00a0
less of the fact that the business model is to receive the contractual \u00a0
cash flows, such loans are mandatorily recognised at fair value \u00a0
through profit or loss. \u00a0
If the issued mortgage bonds are valued at amortised cost, and the \u00a0
mortgage loans, which are funded by the issued mortgage bonds \u00a0
with matching terms, are valued at fair value through profit or loss, \u00a0
a timing difference will arise in the recognition of gains and losses \u00a0
in the financial statements. \u00a0
To eliminate this random timing difference in the recognition of \u00a0
gains and losses, both mortgage loans and issued mortgage bonds \u00a0
are valued at fair value through profit or loss (for the issued bonds \u00a0
by using the fair value option of IFRS 9). \u00a0
The fair value of the mortgage loans is based on the fair value of \u00a0
the underlying mortgage bonds adjusted for the credit risk on bor- \u00a0
rower/the Group\u2019s customer. This entails that the fair value adjust- \u00a0
ment of the mortgage loans in all material respects balance out the \u00a0
fair value adjustment of the issued bonds. Consequently, the total \u00a0
fair value adjustment of the issued mortgage bonds, including the \u00a0
proportion relating to own credit risk, is recognised in the income \u00a0
statement, as recognition of the fair value adjustment of own credit \u00a0
risk in other comprehensive income would lead to an accounting \u00a0
mismatch in the income statement. \u00a0
The fair value adjustment of the mortgage loans and the issued \u00a0
mortgage bonds is recognised under Value adjustments, except for \u00a0
the part of the value adjustment that concerns the credit risk on \u00a0
mortgage loans: this part is recognised under Loan impairment \u00a0
charges. \u00a0
The table below shows the distribution of the Group\u2019s financial instruments by valuation method: \u00a0
Fair value through profit or loss \u00a0
Managed on fair- \u00a0
Due to \u00a0
Amortised cost \u00a0
Trading portfolio \u00a0
value basis \u00a0
SPPI test \u00a0
Designated \u00a0
Total \u00a0
Assets \u00a0
Cash in hand and demand deposits \u00a0
with central banks \u00a0
10,802 \u00a0
-
-
-
-
10,802 \u00a0
Due from credit institutions and \u00a0
central banks \u00a0
6,826 \u00a0
-
-
-
-
6,826 \u00a0
Bonds \u00a0
27,922 \u00a0
-
24,367 \u00a0
-
-
52,289 \u00a0
Loans \u00a0
207 \u00a0
-
-
755,539 \u00a0
-
755,746 \u00a0
Shares \u00a0
-
-
2
-
-
2
Derivatives (Other assets) \u00a0
-
22 \u00a0
-
-
-
22 \u00a0
Total assets, 31 December 2024 \u00a0
45,757 \u00a0
22 \u00a0
24,369 \u00a0
755,539 \u00a0
-
825,687 \u00a0
Total assets, 31 December 2023 \u00a0
44,610 \u00a0
29 \u00a0
16,807 \u00a0
753,624 \u00a0
-
815,070 \u00a0
Liabilities \u00a0
Due to credit institutions and central \u00a0
banks \u00a0
3,500 \u00a0
-
-
-
-
3,500 \u00a0
Issued bonds \u00a0
-
-
-
-
762,125 \u00a0
762,125 \u00a0
Derivatives (Other liabilities) \u00a0
-
9
-
-
-
9
Total liabilities, 31 December 2024 \u00a0
3,500 \u00a0
9
-
-
762,125 \u00a0
765,634 \u00a0
Total liabilities, 31 December 2023 \u00a0
2,000 \u00a0
186 \u00a0
-
-
756,509 \u00a0
758,695 \u00a0
BALANCE SHEET \u00a0
Bonds at fair value \u00a0
At initial recognition, these bonds are measured at fair value, ex- \u00a0
cluding transaction costs. Subsequently, bonds are measured at fair \u00a0
value through profit or loss. The bonds form part of a portfolio, \u00a0
which is managed on a fair value basis. \u00a0
If an active market exists, fair value is based on the most recently \u00a0
observed market price at the balance sheet date. \u00a0
If a bond is quoted in a market that is not active, the Group bases its \u00a0
measurement on the most recent transaction price. Adjustment is \u00a0
made for subsequent changes in market conditions, for instance by \u00a0
including transactions in similar bonds that are motivated by normal \u00a0
business considerations. \u00a0
If no active market exists, fair value is estimated on the basis of \u00a0
generally accepted valuation techniques and market-based parame- \u00a0
ters. \u00a0
Bonds at amortised cost \u00a0
Realkredit Danmark has a bond portfolio held for the purpose of \u00a0
generating a known return until maturity. The bonds are measured \u00a0
at amortised cost. Interest rate risk is not hedged. Impairment \u00a0
charges are made for expected credit losses on the basis of a classi- \u00a0
fication of the bonds into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for bonds in stage 1 and the \u00a0
present value of lifetime expected credit losses for bonds in stages 2 \u00a0
and 3, cf. the description below in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. For calculating the present \u00a0
value of expected credit losses for discounting purposes, the origi- \u00a0
nal effective interest rate is used instead of the current interest rate. \u00a0
Mortgage loans and Issued mortgage bonds at fair value \u00a0
At initial recognition, mortgage loans and issued mortgage bonds \u00a0
are measured at fair value, excluding transaction costs. Subse- \u00a0
quently, these financial instruments are measured at fair value \u00a0
through profit or loss. \u00a0
The fair value of the issued mortgage bonds will usually equal the \u00a0
quoted market price. However, a small part of the issued bonds are \u00a0
illiquid, and the fair value of these bonds is calculated on the basis \u00a0
of a discounted cash flow valuation model. \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on the borrowers. The IFRS 13 estimate of \u00a0
the fair value of the expected credit losses is calculated on the basis \u00a0
of the IFRS 9 model for calculating impairment of losses on loans \u00a0
at amortised cost: expected credit losses, including the classifica- \u00a0
tion of loans between stages 1, 2 and 3: \u00a0
Stage 1: If the credit risk has not increased significantly, the impair- \u00a0
ment equals the expected credit losses resulting from default events \u00a0
that are possible within the next 12 months, see however below on \u00a0
the collective assessment of the need for further adjustments. \u00a0
Stage 2: If the credit risk has increased significantly, the loan is \u00a0
transferred to stage 2 and an impairment charge equal to the life- \u00a0
time expected credit losses is recognised. A significant credit risk \u00a0
increase is considered to occur when the following increase in the \u00a0
probability of default (PD) is observed: \u00a0
\u2022
For loans originated below 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of at least 0.5 of a percentage point \u00a0
since origination and a doubling of the loan\u2019s lifetime PD \u00a0
since origination \u00a0
\u2022
For loans originated above 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of 2 percentage points since origination \u00a0
or a doubling of the loan\u2019s lifetime PD since origination \u00a0
\u2022
Further, loans that are more than 30 days past due are moved \u00a0
from stage 1 to stage 2. Finally, customers subject to forbear- \u00a0
ance measures are placed in stage 2, if the Group, in the most \u00a0
likely outcome, expects no loss or the customers are in the 2- \u00a0
year probation period for performing forborne exposures. \u00a0
Stage 3: If the loan is in default, it is transferred to stage 3. A facil- \u00a0
ity becomes credit-impaired when one or more events that have a \u00a0
detrimental impact on the estimated future cash flows have oc- \u00a0
curred. This includes observable data about (a) significant financial \u00a0
difficulty of the borrower; (b) a breach of contract, such as a default \u00a0
or past due event; (c) the borrower, for reasons relating to the bor- \u00a0
rower\u2019s financial difficulty, is granted a concession; (d) it is proba- \u00a0
ble that the borrower will enter into bankruptcy. Credit-impaired fa- \u00a0
cilities are placed in Realkredit Danmark\u2019s rating category 11. For \u00a0
rating category 11, all exposures are classified as stage 3. The \u00a0
Realkredit Danmark Group uses the option to continue to recognise \u00a0
interest income on mortgage loans measured at fair value on the ba- \u00a0
sis of the contractual interest rates. \u00a0
A definition of default is used in the measurement of expected \u00a0
credit losses and the assessment to determine movements between \u00a0
stages. The definition of default is also used for internal credit risk \u00a0
management and capital adequacy purposes. To support a more har- \u00a0
monised approach regarding the application of the definition of de- \u00a0
fault, the European Banking Authority (EBA) issued the following \u00a0
products that guide the application of the definition of default: the \u00a0
Guidelines on the application of the definition of default, \u00a0
EBA/GL/2016/07 and the Regulatory Technical Standards (RTS) \u00a0
on the materiality threshold for credit obligations past due, \u00a0
EBA/RTS/2016/06. \u00a0
The Group\u2019s definition of default for accounting purposes aligns \u00a0
with the regulatory purposes. All exposures that are considered de- \u00a0
fault are also considered Stage 3 exposures. This is applicable for \u00a0
exposures that are default due to either the 90 days past due default \u00a0
trigger or the unlikeliness to pay default triggers. \u00a0
The expected credit loss is calculated for all individual loans as a \u00a0
function of the probability of default (PD), the exposure at default \u00a0
(EaD) and the loss given default (LGD). \u00a0
The lifetime expected credit losses cover the expected remaining \u00a0
lifetime of the loan. For most loans, the expected lifetime is limited \u00a0
to the remaining contractual maturity and adjusted for expected pre- \u00a0
payment. For exposures with weak credit quality, the likelihood of \u00a0
prepayment is not included. \u00a0
The forward-looking elements of the calculation reflect the current \u00a0
expectations of senior management. The Danske Bank Group\u2019s inde- \u00a0
pendent macroeconomic research unit creates three macroeconomic \u00a0
scenarios (base case, upside and downside), including an assessment \u00a0
of the probability for each scenario. The purpose of using multiple \u00a0
scenarios is to model the non-linear impact of assumptions about \u00a0
macroeconomic factors on the expected credit losses. Afterwards \u00a0
there is a process to ensure review and sign-off of the scenarios. \u00a0
Management\u2019s approval of scenarios can include adjustments to the \u00a0
scenarios or to which scenarios are used, the assigned probability \u00a0
weighting and post-model adjustments to cover the outlook for par- \u00a0
ticular high-risk portfolios, which are not provided by the Group\u2019s \u00a0
macroeconomists. The approved scenarios are used to calculate the \u00a0
impairment levels. Technically, the forward-looking information is \u00a0
used directly in the PDs through an estimate of general changes to \u00a0
the PDs and the LGDs in the expected credit loss calculation. How- \u00a0
ever, for significant exposures in stage 3, an individual assessment \u00a0
of the scenarios, changes to expected credit losses and the related \u00a0
probabilities are performed by senior credit officers. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. The base case is \u00a0
based on the macroeconomic outlook as disclosed in the Danske \u00a0
Bank Group\u2019s Nordic Outlook reports. \u00a0
In addition, a collective assessment determines the need for further \u00a0
adjustments to reflect other components in the fair value measure- \u00a0
ment, such as an assessment of an investor\u2019s risk premium, compen- \u00a0
sation for administrative costs related to the loans and the possibility \u00a0
of increasing the credit margin if the credit risk increases. This as- \u00a0
sessment also takes into consideration the fact that initial recogni- \u00a0
tion of 12-month expected credit losses is not in accordance with \u00a0
fair value, and the fact that the expected credit losses during the life- \u00a0
time of the asset should be included in the assessment even if the \u00a0
credit risk has not increased significantly. \u00a0
Loans considered uncollectible are written off. Write-offs are deb- \u00a0
ited to the allowance account. Loans are written off once the usual \u00a0
collection procedure has been completed and the loss on the individ- \u00a0
ual loan can be calculated. \u00a0
Due from credit institutions and central banks and Loans and \u00a0
other amounts due at amortised cost \u00a0
Amounts due from credit institutions and central banks comprise \u00a0
amounts due from other credit institutions and time deposits with \u00a0
central banks. Reverse transactions (purchases of securities from \u00a0
credit institutions and central banks that the Group agrees to resell \u00a0
at a later date) are recognised as Amounts due from credit institu- \u00a0
tions and central banks with collateral in the securities received. Re- \u00a0
verse transactions are made on standard terms and conditions. \u00a0
These financial assets are held for the purpose of achieving the con- \u00a0
tractual return until expiry and have contractual cash flows reflect- \u00a0
ing repayment of principal and interest thereon. Loans and other \u00a0
amounts due are therefore carried at amortised cost and consist of \u00a0
mortgage payments due and other outlays relating to mortgage loans \u00a0
as well as claims against individual borrowers and reserve fund \u00a0
mortgages, etc. \u00a0
Impairments are made for expected credit losses on the basis of a \u00a0
classification of the loans into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for loans in stage 1 and the \u00a0
present value of lifetime expected credit losses for loans in stages 2 \u00a0
and 3, cf. the description above in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. \u00a0
Assets temporarily taken over \u00a0
Assets temporarily taken over include tangible assets, which accord- \u00a0
ing to a publicly announced plan, the Group expects to sell within \u00a0
twelve months. Such assets are measured at the lower of their carry- \u00a0
ing amount at the time of classification and their fair value less ex- \u00a0
pected costs to sell and are no longer depreciated. \u00a0
Properties taken over in connection with non-performing loans and \u00a0
which are likely to be sold within 12 months are presented under \u00a0
Assets temporarily taken over. Subsequent fair value adjustments \u00a0
and gains or losses on disposal are recognised under Loan impair- \u00a0
ment charges. \u00a0
Other assets \u00a0
Pension assets \u00a0
The Group\u2019s pension obligations generally consist of defined contri- \u00a0
bution pension plans for its staff. Under the defined contribution \u00a0
plans, the Group pays regular contributions to insurance companies \u00a0
and other institutions. Such payments are expensed as they are \u00a0
earned by the staff, and the obligations under the plans are taken \u00a0
over by the insurance companies and other institutions. \u00a0
Furthermore, the Group operates a defined benefit plan maintained \u00a0
under Kreditforeningen Danmarks Pensionsafviklingskasse (pension \u00a0
fund). Realkredit Danmark A/S guarantees future payment of a de- \u00a0
fined benefit from the time of retirement. \u00a0
The pension fund and Realkredit Danmark\u2019s defined benefit plan \u00a0
have not accepted new members since 1971, so no pension contribu- \u00a0
tions are made. Accordingly, there are no service costs. \u00a0
The amounts payable are recognised on the basis of an actuarial \u00a0
computation of the present value of expected benefits. The present \u00a0
value is calculated on the basis of expected future trends in salaries \u00a0
and interest rates, time of retirement, mortality rate and other fac- \u00a0
tors. \u00a0
The fair value of pension assets less the present value of pension \u00a0
benefits is carried as a pension asset under Other assets in the bal- \u00a0
ance sheet. \u00a0
Due to credit institutions and central banks \u00a0
Due to credit institutions and central banks include amounts re- \u00a0
ceived under repo transactions. These deposits are recognised as \u00a0
debt with collateral in the securities surrendered. Repo transactions \u00a0
are made on standard terms and conditions. Amounts due to credit \u00a0
institutions and central banks are measured at amortised cost. \u00a0
Deferred tax assets/Deferred tax liabilities \u00a0
Deferred tax on all temporary differences between the tax base of \u00a0
assets and liabilities and their carrying amounts is accounted for in \u00a0
accordance with the balance sheet liability method. Deferred tax is \u00a0
recognised under Deferred tax assets or Deferred tax liabilities. \u00a0
Deferred tax is measured on the basis of the tax regulations and \u00a0
rates that, according to the rules in force at the balance sheet date, \u00a0
will apply at the time the deferred tax is expected to crystallise as \u00a0
current tax. Changes in deferred tax as a result of adopted changes \u00a0
in tax rates are recognised in the income statement based on ex- \u00a0
pected cash flows. \u00a0
Current tax assets/Current tax liabilities \u00a0
Current tax assets and liabilities are recognised in the balance sheet \u00a0
as the estimated tax charge on the profit for the year adjusted for \u00a0
prepaid tax and prior-year tax payables and receivables. \u00a0
Tax assets and liabilities are offset if the Group has a legally en- \u00a0
forceable right to set off such assets and liabilities and intends either \u00a0
to settle the assets and liabilities on a net basis or to realise the as- \u00a0
sets and settle the liabilities simultaneously. \u00a0
Shareholders\u2019 equity \u00a0
Reserves in series \u00a0
Reserves in series comprise series established before 1972 with \u00a0
joint and several liability, series established after 1972 without joint \u00a0
and several liability, other series, including Danske Kredit and \u00a0
mortgage-covered bonds. \u00a0
Other reserves \u00a0
Other reserves comprise the mortgage credit business that is not in- \u00a0
cluded in reserves in series. \u00a0
Proposed dividends \u00a0
The Board of Directors\u2019 proposal for dividends for the year submit- \u00a0
ted to the general meeting is included as a separate reserve in share- \u00a0
holders\u2019 equity. The dividends are recognised as a liability when the \u00a0
general meeting has adopted the proposal. \u00a0
INCOME STATEMENT \u00a0
Interest income and expense \u00a0
Interest income and expenses include interest and administration \u00a0
margins on financial instruments measured at fair value. \u00a0
Fees and commission income and expense \u00a0
Income, including origination fees, from mortgage loans carried at \u00a0
fair value is recognised when the transaction is completed. \u00a0
Income and expenses for services provided over a period of time are \u00a0
accrued over the period. Transaction fees are recognised on comple- \u00a0
tion of the individual transaction. \u00a0
Value adjustments \u00a0
Value adjustments comprise realised and unrealised capital gains \u00a0
and losses on bonds at fair value, mortgage loans, issued mortgage \u00a0
bonds and fixed-price agreements as well as exchange rate adjust- \u00a0
ments. \u00a0
Staff costs and administrative expenses \u00a0
Staff costs \u00a0
Salaries and other remuneration that the Group expects to pay for \u00a0
work carried out during the year are expensed under Staff costs and \u00a0
administrative expenses. This item comprises salaries, bonuses, ex- \u00a0
penses for share-based payments, holiday allowances, anniversary \u00a0
bonuses, pension costs and other remuneration. Performance-based \u00a0
pay is expensed as it is earned. \u00a0
Performance-based pay and share-based payments \u00a0
Performance-based pay is expensed as it is earned. Part of the per- \u00a0
formance-based pay for the year is paid in the form of conditional \u00a0
shares issued by Danske Bank. Rights to shares under the condi- \u00a0
tional share programme vest up to five years after being granted \u00a0
provided that the employee, with the exception of retirement, has \u00a0
not resigned from the Group. Retirement is not considered as resig- \u00a0
nation. \u00a0
The fair value of share-based payments at the grant date is expensed \u00a0
over the service period that unconditionally entitles the employee to \u00a0
the payment. The intrinsic value of the share-based payments is ex- \u00a0
pensed in the year in which the share-based payments are earned, \u00a0
whereas the time value (if any) is accrued over the remaining ser- \u00a0
vice period. Expenses are set off against shareholders\u2019 equity. The \u00a0
increase in shareholders\u2019 equity is eliminated by set-off against an \u00a0
interim account with Danske Bank A/S. Subsequent changes in the \u00a0
fair value are not recognised in the income statement. \u00a0
Pension obligations \u00a0
The Group\u2019s contributions to defined contribution pension plans are \u00a0
recognised in the income statement as they are earned by the em- \u00a0
ployees. \u00a0
Loan impairment charges \u00a0
Loan impairment charges include the fair value adjustment of the \u00a0
credit risk on mortgage loans as well as losses on and impairment \u00a0
charges for other loans and amounts due. \u00a0
The item also includes impairment charges and realised gains and \u00a0
losses on acquired assets if the assets qualify as assets temporarily \u00a0
taken over. \u00a0
Tax \u00a0
Calculated current and deferred tax on the profit for the year and ad- \u00a0
justments of tax charges for previous years are recognised in the in- \u00a0
come statement. Tax on items recognised in Other comprehensive \u00a0
income is recognised in Other comprehensive income. Similarly, tax \u00a0
on items recognised in shareholders\u2019 equity is recognised in Share- \u00a0
holders\u2019 equity. \u00a0
Comprehensive income \u00a0
Total comprehensive income includes the net profit for the year and \u00a0
other comprehensive income. Other comprehensive income also in- \u00a0
cludes actuarial gains or losses on defined benefit pension plans. \u00a0
Cash flow statement \u00a0
The cash flow statement is prepared according to the indirect \u00a0
method. The statement is based on profit for the year before tax and \u00a0
shows the consolidated cash flows from operating, investing and fi- \u00a0
nancing activities and the increase or decrease in cash and cash \u00a0
equivalents during the year. \u00a0
Cash and cash equivalents consists of Cash in hand and demand de- \u00a0
posits with central banks and amounts due from credit institutions \u00a0
and central banks with an original maturity shorter than three \u00a0
months. \u00a0
Reporting on the ESEF Regulation \u00a0
The Commission\u2019s Delegated Regulation (EU) 2019/815 on the Eu- \u00a0
ropean Single Electronic Format (ESEF Regulation) requires a spe- \u00a0
cial digital reporting format for annual report for publicly listed en- \u00a0
tities. The ESEF Regulation includes requirements related to the \u00a0
preparation of the annual report in XHTML format and iXBRL tag- \u00a0
ging of the consolidated financial statements key elements including \u00a0
income statement, statement of comprehensive income, balance \u00a0
sheet, statement of capital, cash flow statement and notes. \u00a0
Realkredit Danmark A/S\u2019 iXBRL tagging is prepared in accordance \u00a0
to the ESEF taxonomy which is included in the appendices of the \u00a0
ESEF Regulation and is developed based on the IFRS taxonomy \u00a0
that is published by IFRS Foundation. For the annual report for \u00a0
2024 the ESEF Taxonomy for 2022 has been applied. \u00a0
The account balances in the consolidated financial statements are \u00a0
XBRL tagged to the elements in the European Single Electronic Re- \u00a0
porting (ESEF) Regulation that are assessed to correspond to the \u00a0
content of the account balances. For account balances that are as- \u00a0
sessed not to be covered by the account balances defined in the \u00a0
ESEF taxonomy, Realkredit Danmark A/S has incorporated entity \u00a0
specific extensions to the taxonomy. These extensions are \u2013 except \u00a0
subtotals \u2013 embedded in the elements in the ESEF taxonomy. \u00a0
Annual report 2024 comprises \u2013 in accordance with the require- \u00a0
ments of the ESEF Regulation \u2013 a zip-file RealkreditDanmark- \u00a0
2024-12-31-0-en.zip, that includes an XHTML-file, that can be \u00a0
opened with standard web browsers and a number of technical \u00a0
XBRL files that make automated extracts of the incorporated XBRL \u00a0
data possible. \u00a0
Standards and interpretations not yet in force \u00a0
The International Accounting Standards Board (IASB) has issued \u00a0
two new international accounting standards (IFRS 18, Presentation \u00a0
and disclosure in financial statements, and IFRS 19, Subsidiaries \u00a0
without public accountability) and amendments to existing interna- \u00a0
tional accounting standards (IFRS 7, IFRS 9 and IAS 21) that have \u00a0
not yet come into force. \u00a0
IFRS 18 replaces IAS 1, Presentation of financial statements, with \u00a0
particular focus on the presentation of the Income statement, and the \u00a0
introduction of Management performance measures. At time of writ- \u00a0
ing, it is being assessed how IFRS 18 will impact the presentation of \u00a0
the Income statement, however IFRS 18 will not impact sharehold- \u00a0
ers equity. IFRS 18 is effective for annual reports beginning on or \u00a0
after 1 January 2027. \u00a0
IFRS 19 and the amendments to other standards are not expected to \u00a0
have any material impact on the Group\u2019s financial statements. \u00a0
Accounting policies for the parent company \u00a0
The financial statements of the parent company are prepared in ac- \u00a0
cordance with the Danish Financial Business Act and the Danish \u00a0
FSA\u2019s Executive Order No. 281 of 26 March 2014 on Financial Re- \u00a0
ports for Credit Institutions and Investment Companies, etc. as \u00a0
amended by Executive Order no. 707 of 1 June 2016, Executive Or- \u00a0
der No. 1043 of 5 September 2017, Executive Order No. 1441 of 3 \u00a0
December 2018, Executive Order No. 1593 of 9 November 2020, \u00a0
Executive Order no. 116 of 27 January 2023 and Executive Order \u00a0
no. 516 of 17 May 2024. The rules are consistent with the Group\u2019s \u00a0
measurement principles under IFRS. \u00a0
Holdings in subsidiary undertakings are measured using the equity \u00a0
method. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1608": {
"value": "MATERIAL ACCOUNTING POLICIES \u00a0
General \u00a0
Realkredit Danmark prepares its consolidated financial statements \u00a0
in accordance with International Financial Reporting Standards \u00a0
(IFRS Accounting Standards) and applicable interpretations \u00a0
(IFRIC) issued by the International Accounting Standards Board \u00a0
(IASB), as adopted by the EU. Furthermore, the consolidated finan- \u00a0
cial statements comply with the Danish FSA\u2019s executive order No. \u00a0
1306 dated 16 December 2008 on the use of IFRS Accounting \u00a0
Standards by undertakings subject to the Danish Financial Business \u00a0
Act. \u00a0
",
"dimensions": {
"concept": "ifrs-full:StatementOfIFRSCompliance",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1609": {
"value": "Changes to material accounting policies \u00a0
Amendments to IFRS 7 and IAS 7 (supplier finance arrangements), \u00a0
IFRS 16 (sale and leaseback transactions), and IAS 1 (classification \u00a0
of liabilities; liabilities with covenants) became effective for the \u00a0
period beginning 1 January 2024. The amendments had no impact \u00a0
on the financial statements. \u00a0
The accounting policies are unchanged from those applied in An- \u00a0
nual Report 2023. \u00a0
For the purpose of clarity, the notes to the financial statements are \u00a0
prepared using the concepts of materiality and relevance. This \u00a0
means that information not considered material in terms of quanti- \u00a0
tative and qualitative measures or relevant to financial statement \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfChangesInAccountingPoliciesAccountingEstimatesAndErrorsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1606": {
"value": "whether the credit risk has increased significantly since initial \u00a0
recognition. If the credit risk has not increased significantly, the im- \u00a0
pairment charge equals the expected credit losses resulting from de- \u00a0
fault events that are possible within the next 12 months (stage 1). If \u00a0
the credit risk has increased significantly, the loan is more than 30 \u00a0
days past due, or the loans is in default or otherwise impaired, the \u00a0
impairment charge equals the lifetime expected credit losses (stages \u00a0
2 and 3). \u00a0
In determining the impairment for expected credit losses, manage- \u00a0
ment exercises judgement and uses estimates and assumptions. The \u00a0
expected credit loss is calculated for all individual loans as a func- \u00a0
tion of PD (probability of default), EAD (exposure at default) and \u00a0
LGD (loss given default) and incorporates forward-looking infor- \u00a0
mation. The estimation of expected credit losses involves forecast- \u00a0
ing future economic conditions over a number of years. Such fore- \u00a0
casts are subject to management judgement and those judgements \u00a0
may be sources of measurement uncertainty that have significant \u00a0
risk of resulting in a material adjustment to a carrying amount in fu- \u00a0
ture periods. \u00a0
The incorporation of forward-looking elements reflects the expecta- \u00a0
tions of the Group\u2019s senior management and involves the creation \u00a0
of scenarios (base case, upside and downside), including an assess- \u00a0
ment of the probability for each scenario. The purpose of using \u00a0
multiple scenarios is to model the non-linear impact of assumptions \u00a0
about macroeconomic factors on the expected credit losses. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. That is, after the \u00a0
forecast period, the macroeconomic scenarios revert slowly towards \u00a0
a steady state. \u00a0
The applied scenarios that drive the expected credit loss calculation \u00a0
in the fourth quarter of 2024 have been updated with the latest mac- \u00a0
roeconomic data. Compared to the end of 2023, the base case and \u00a0
upside scenarios have been revised to reflect expectations of lower \u00a0
inflation, decreasing interest rates, improved house prices and im- \u00a0
proved growth momentum. \u00a0
The base case is an extension of the Group\u2019s official view of the \u00a0
Nordic economies (the Nordic Outlook report). At 31 December \u00a0
2024, the base case scenario reflects a soft landing with economic \u00a0
growth moving toward normalised levels. Inflation is coming down \u00a0
quickly, and fairly rapid interest cuts are consequently expected. \u00a0
The Nordic property markets have generally recovered, and price \u00a0
increases are expected, as consumers regain purchasing power. \u00a0
The upside scenario represents a slightly better outlook than the \u00a0
base case scenario across the macroeconomic parameters. In this \u00a0
scenario, it is predominantly the European businesses\u2019 profit mar- \u00a0
gins and not prices that absorb the adjustment to higher wage costs \u00a0
and inflation returns more sustainably to target than in the base \u00a0
case. Central banks no longer hesitate to cut interest rates and all \u00a0
Nordic central banks loosen policies a bit quicker than in the base \u00a0
case. This boosts consumer sentiment, increasing private consump- \u00a0
tion and strengthening the housing market. \u00a0
Significant accounting estimates and judgements \u00a0
The preparation of financial information requires, in some cases, \u00a0
the use of judgements and estimates by management. This includes \u00a0
judgements made when applying accounting policies. The most sig- \u00a0
nificant judgements made when applying accounting policies relate \u00a0
to the fair value measurement of mortgage loans. \u00a0
Further, the carrying amounts of some assets and liabilities requires \u00a0
the estimation of the effects of uncertain future events on those as- \u00a0
sets and liabilities. The estimates are based on premises that man- \u00a0
agement finds reasonable but which are inherently uncertain and \u00a0
unpredictable. The premises may be incomplete, unexpected future \u00a0
events or situations may occur, and other parties may arrive at other \u00a0
estimated values. In view of the inherent uncertainties and the high \u00a0
level of subjectivity and judgement involved in the recognition and \u00a0
measurement of the following items, it is possible that the out- \u00a0
comes in the next financial year could differ from those on which \u00a0
management\u2019s estimates are based. \u00a0
Fair value measurement of mortgage loans \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on borrowers. In addition to the expected \u00a0
credit losses, a collective assessment determines the need for adjust- \u00a0
ments to reflect other components in the fair value measurement, \u00a0
such as an assessment of an investor\u2019s risk premium, compensation \u00a0
for administrative costs related to the loans and the possibility to in- \u00a0
crease the credit margin if the credit risk increases. \u00a0
The fair value of the credit risk on the borrower is based on the ex- \u00a0
pected credit loss impairment model in IFRS 9, which depends on \u00a0
The downside scenario is a severe recession with high interest rates \u00a0
scenario (reflecting a stagflation scenario) applied in the Group\u2019s \u00a0
ICAAP processes, which is similar in nature to regulatory stress \u00a0
tests. The severe recession scenario reflects negative growth, in- \u00a0
creasing interest rates, and falling property prices for a longer pe- \u00a0
riod. The use of the downside scenario was introduced to better cap- \u00a0
ture the elevated risk from high interest rates and high inflation. A \u00a0
trigger of the economic setback could be continued macroeconomic \u00a0
worsening and challenges linked to high business costs while infla- \u00a0
tion remain elevated. This adversely impacts the labour market, re- \u00a0
sults in higher and more persistent unemployment. This would lead \u00a0
to a severe slowdown in the economies in which the Group is repre- \u00a0
sented. \u00a0
The scenario weighting is unchanged from 2023. The weight on the \u00a0
base case scenario is 60% (60% in 2023), the upside scenario is \u00a0
weighted 20% (20% in 2023), and the downside scenario is \u00a0
weighted 20% (20% in 2023). \u00a0
At the end of 2024, the fair value adjustment of the credit risk on \u00a0
mortgage loans was calculated at DKK 2,837 million (2023: \u00a0
DKK 2,656 million), reducing the value of mortgage loans. The \u00a0
base case scenario enters with a probability of 60% (2023: 60%), \u00a0
the downside scenario with a probability of 20% (2023: 20%) and \u00a0
the upside scenario with a probability of 20% (2023: 20%). If the \u00a0
base case scenario was assigned a probability of 100%, the fair \u00a0
value adjustment at end-2024 would be DKK 2,375 million (2023: \u00a0
DKK 2,450 million). The fair value adjustment at the end of 2024 \u00a0
would increase to DKK 4,750 million (2023: DKK 4,225 million) if \u00a0
the downside scenario was assigned a probability of 100%. If in- \u00a0
stead the upside scenario was assigned a probability of 100%, the \u00a0
fair value adjustment would decrease to DKK 2,325 million (2023: \u00a0
DKK 2,400 million). \u00a0
According to the Group\u2019s definition of a significant increase in \u00a0
credit risk, i.e. when a loan is transferred from stage 1 to stage 2, \u00a0
loans with an initial PD below 1% are transferred to stage 2 if the \u00a0
loan\u2019s 12-month PD has increased by at least 0.5 of a percentage \u00a0
point and the loan\u2019s lifetime PD has doubled since origination. The \u00a0
allowance account is relatively stable in terms of changes to the def- \u00a0
inition of significant increase in credit risk. At 31 December 2024, \u00a0
the allowance account would increase by DKK 30 million (2023: \u00a0
DKK 25 million), if instead an increase in the loan\u2019s 12-month PD \u00a0
by at least 0.25 of a percentage point combined with a doubling of \u00a0
the lifetime PD was considered a significant increase in credit risk. \u00a0
Management applies judgement when determining the need for \u00a0
post-model adjustments. At the end of 2024, the post-model adjust- \u00a0
ments amounted to DKK 1,149 million (2023: DKK 1,241 million). \u00a0
The adjustments cover for instance specific macroeconomic risks on \u00a0
certain industries that are not specifically captured by the expected \u00a0
credit loss model e.g. effects from climate risk or the macroeco- \u00a0
nomic uncertainty. The total balance of post-model adjustments has \u00a0
been reduced slightly compared to end of 2023 mainly due to the \u00a0
improved macroeconomic outlook. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAssetsAndLiabilitiesWithSignificantRiskOfMaterialAdjustmentExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1607": {
"value": "whether the credit risk has increased significantly since initial \u00a0
recognition. If the credit risk has not increased significantly, the im- \u00a0
pairment charge equals the expected credit losses resulting from de- \u00a0
fault events that are possible within the next 12 months (stage 1). If \u00a0
the credit risk has increased significantly, the loan is more than 30 \u00a0
days past due, or the loans is in default or otherwise impaired, the \u00a0
impairment charge equals the lifetime expected credit losses (stages \u00a0
2 and 3). \u00a0
In determining the impairment for expected credit losses, manage- \u00a0
ment exercises judgement and uses estimates and assumptions. The \u00a0
expected credit loss is calculated for all individual loans as a func- \u00a0
tion of PD (probability of default), EAD (exposure at default) and \u00a0
LGD (loss given default) and incorporates forward-looking infor- \u00a0
mation. The estimation of expected credit losses involves forecast- \u00a0
ing future economic conditions over a number of years. Such fore- \u00a0
casts are subject to management judgement and those judgements \u00a0
may be sources of measurement uncertainty that have significant \u00a0
risk of resulting in a material adjustment to a carrying amount in fu- \u00a0
ture periods. \u00a0
The incorporation of forward-looking elements reflects the expecta- \u00a0
tions of the Group\u2019s senior management and involves the creation \u00a0
of scenarios (base case, upside and downside), including an assess- \u00a0
ment of the probability for each scenario. The purpose of using \u00a0
multiple scenarios is to model the non-linear impact of assumptions \u00a0
about macroeconomic factors on the expected credit losses. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. That is, after the \u00a0
forecast period, the macroeconomic scenarios revert slowly towards \u00a0
a steady state. \u00a0
The applied scenarios that drive the expected credit loss calculation \u00a0
in the fourth quarter of 2024 have been updated with the latest mac- \u00a0
roeconomic data. Compared to the end of 2023, the base case and \u00a0
upside scenarios have been revised to reflect expectations of lower \u00a0
inflation, decreasing interest rates, improved house prices and im- \u00a0
proved growth momentum. \u00a0
The base case is an extension of the Group\u2019s official view of the \u00a0
Nordic economies (the Nordic Outlook report). At 31 December \u00a0
2024, the base case scenario reflects a soft landing with economic \u00a0
growth moving toward normalised levels. Inflation is coming down \u00a0
quickly, and fairly rapid interest cuts are consequently expected. \u00a0
The Nordic property markets have generally recovered, and price \u00a0
increases are expected, as consumers regain purchasing power. \u00a0
The upside scenario represents a slightly better outlook than the \u00a0
base case scenario across the macroeconomic parameters. In this \u00a0
scenario, it is predominantly the European businesses\u2019 profit mar- \u00a0
gins and not prices that absorb the adjustment to higher wage costs \u00a0
and inflation returns more sustainably to target than in the base \u00a0
case. Central banks no longer hesitate to cut interest rates and all \u00a0
Nordic central banks loosen policies a bit quicker than in the base \u00a0
case. This boosts consumer sentiment, increasing private consump- \u00a0
tion and strengthening the housing market. \u00a0
Significant accounting estimates and judgements \u00a0
The preparation of financial information requires, in some cases, \u00a0
the use of judgements and estimates by management. This includes \u00a0
judgements made when applying accounting policies. The most sig- \u00a0
nificant judgements made when applying accounting policies relate \u00a0
to the fair value measurement of mortgage loans. \u00a0
Further, the carrying amounts of some assets and liabilities requires \u00a0
the estimation of the effects of uncertain future events on those as- \u00a0
sets and liabilities. The estimates are based on premises that man- \u00a0
agement finds reasonable but which are inherently uncertain and \u00a0
unpredictable. The premises may be incomplete, unexpected future \u00a0
events or situations may occur, and other parties may arrive at other \u00a0
estimated values. In view of the inherent uncertainties and the high \u00a0
level of subjectivity and judgement involved in the recognition and \u00a0
measurement of the following items, it is possible that the out- \u00a0
comes in the next financial year could differ from those on which \u00a0
management\u2019s estimates are based. \u00a0
Fair value measurement of mortgage loans \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on borrowers. In addition to the expected \u00a0
credit losses, a collective assessment determines the need for adjust- \u00a0
ments to reflect other components in the fair value measurement, \u00a0
such as an assessment of an investor\u2019s risk premium, compensation \u00a0
for administrative costs related to the loans and the possibility to in- \u00a0
crease the credit margin if the credit risk increases. \u00a0
The fair value of the credit risk on the borrower is based on the ex- \u00a0
pected credit loss impairment model in IFRS 9, which depends on \u00a0
The downside scenario is a severe recession with high interest rates \u00a0
scenario (reflecting a stagflation scenario) applied in the Group\u2019s \u00a0
ICAAP processes, which is similar in nature to regulatory stress \u00a0
tests. The severe recession scenario reflects negative growth, in- \u00a0
creasing interest rates, and falling property prices for a longer pe- \u00a0
riod. The use of the downside scenario was introduced to better cap- \u00a0
ture the elevated risk from high interest rates and high inflation. A \u00a0
trigger of the economic setback could be continued macroeconomic \u00a0
worsening and challenges linked to high business costs while infla- \u00a0
tion remain elevated. This adversely impacts the labour market, re- \u00a0
sults in higher and more persistent unemployment. This would lead \u00a0
to a severe slowdown in the economies in which the Group is repre- \u00a0
sented. \u00a0
The scenario weighting is unchanged from 2023. The weight on the \u00a0
base case scenario is 60% (60% in 2023), the upside scenario is \u00a0
weighted 20% (20% in 2023), and the downside scenario is \u00a0
weighted 20% (20% in 2023). \u00a0
At the end of 2024, the fair value adjustment of the credit risk on \u00a0
mortgage loans was calculated at DKK 2,837 million (2023: \u00a0
DKK 2,656 million), reducing the value of mortgage loans. The \u00a0
base case scenario enters with a probability of 60% (2023: 60%), \u00a0
the downside scenario with a probability of 20% (2023: 20%) and \u00a0
the upside scenario with a probability of 20% (2023: 20%). If the \u00a0
base case scenario was assigned a probability of 100%, the fair \u00a0
value adjustment at end-2024 would be DKK 2,375 million (2023: \u00a0
DKK 2,450 million). The fair value adjustment at the end of 2024 \u00a0
would increase to DKK 4,750 million (2023: DKK 4,225 million) if \u00a0
the downside scenario was assigned a probability of 100%. If in- \u00a0
stead the upside scenario was assigned a probability of 100%, the \u00a0
fair value adjustment would decrease to DKK 2,325 million (2023: \u00a0
DKK 2,400 million). \u00a0
According to the Group\u2019s definition of a significant increase in \u00a0
credit risk, i.e. when a loan is transferred from stage 1 to stage 2, \u00a0
loans with an initial PD below 1% are transferred to stage 2 if the \u00a0
loan\u2019s 12-month PD has increased by at least 0.5 of a percentage \u00a0
point and the loan\u2019s lifetime PD has doubled since origination. The \u00a0
allowance account is relatively stable in terms of changes to the def- \u00a0
inition of significant increase in credit risk. At 31 December 2024, \u00a0
the allowance account would increase by DKK 30 million (2023: \u00a0
DKK 25 million), if instead an increase in the loan\u2019s 12-month PD \u00a0
by at least 0.25 of a percentage point combined with a doubling of \u00a0
the lifetime PD was considered a significant increase in credit risk. \u00a0
Management applies judgement when determining the need for \u00a0
post-model adjustments. At the end of 2024, the post-model adjust- \u00a0
ments amounted to DKK 1,149 million (2023: DKK 1,241 million). \u00a0
The adjustments cover for instance specific macroeconomic risks on \u00a0
certain industries that are not specifically captured by the expected \u00a0
credit loss model e.g. effects from climate risk or the macroeco- \u00a0
nomic uncertainty. The total balance of post-model adjustments has \u00a0
been reduced slightly compared to end of 2023 mainly due to the \u00a0
improved macroeconomic outlook. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1555": {
"value": "whether the credit risk has increased significantly since initial \u00a0recognition. If the credit risk has not increased significantly, the im- \u00a0pairment charge equals the expected credit losses resulting from de- \u00a0fault events that are possible within the next 12 months (stage 1). If \u00a0the credit risk has increased significantly, the loan is more than 30 \u00a0days past due, or the loans is in default or otherwise impaired, the \u00a0impairment charge equals the lifetime expected credit losses (stages \u00a02 and 3). \u00a0In determining the impairment for expected credit losses, manage- \u00a0ment exercises judgement and uses estimates and assumptions. The \u00a0expected credit loss is calculated for all individual loans as a func- \u00a0tion of PD (probability of default), EAD (exposure at default) and \u00a0LGD (loss given default) and incorporates forward-looking infor- \u00a0mation. The estimation of expected credit losses involves forecast- \u00a0ing future economic conditions over a number of years. Such fore- \u00a0casts are subject to management judgement and those judgements \u00a0may be sources of measurement uncertainty that have significant \u00a0risk of resulting in a material adjustment to a carrying amount in fu- \u00a0ture periods. \u00a0The incorporation of forward-looking elements reflects the expecta- \u00a0tions of the Group\u2019s senior management and involves the creation \u00a0of scenarios (base case, upside and downside), including an assess- \u00a0ment of the probability for each scenario. The purpose of using \u00a0multiple scenarios is to model the non-linear impact of assumptions \u00a0about macroeconomic factors on the expected credit losses. \u00a0The forward-looking information is based on a three-year forecast \u00a0period converging to steady state in year seven. That is, after the \u00a0forecast period, the macroeconomic scenarios revert slowly towards \u00a0a steady state. \u00a0The applied scenarios that drive the expected credit loss calculation \u00a0in the fourth quarter of 2024 have been updated with the latest mac- \u00a0roeconomic data. Compared to the end of 2023, the base case and \u00a0upside scenarios have been revised to reflect expectations of lower \u00a0inflation, decreasing interest rates, improved house prices and im- \u00a0proved growth momentum. \u00a0The base case is an extension of the Group\u2019s official view of the \u00a0Nordic economies (the Nordic Outlook report). At 31 December \u00a02024, the base case scenario reflects a soft landing with economic \u00a0growth moving toward normalised levels. Inflation is coming down \u00a0quickly, and fairly rapid interest cuts are consequently expected. \u00a0The Nordic property markets have generally recovered, and price \u00a0increases are expected, as consumers regain purchasing power. \u00a0The upside scenario represents a slightly better outlook than the \u00a0base case scenario across the macroeconomic parameters. In this \u00a0scenario, it is predominantly the European businesses\u2019 profit mar- \u00a0gins and not prices that absorb the adjustment to higher wage costs \u00a0and inflation returns more sustainably to target than in the base \u00a0case. Central banks no longer hesitate to cut interest rates and all \u00a0Nordic central banks loosen policies a bit quicker than in the base \u00a0case. This boosts consumer sentiment, increasing private consump- \u00a0tion and strengthening the housing market. \u00a0Significant accounting estimates and judgements \u00a0The preparation of financial information requires, in some cases, \u00a0the use of judgements and estimates by management. This includes \u00a0judgements made when applying accounting policies. The most sig- \u00a0nificant judgements made when applying accounting policies relate \u00a0to the fair value measurement of mortgage loans. \u00a0Further, the carrying amounts of some assets and liabilities requires \u00a0the estimation of the effects of uncertain future events on those as- \u00a0sets and liabilities. The estimates are based on premises that man- \u00a0agement finds reasonable but which are inherently uncertain and \u00a0unpredictable. The premises may be incomplete, unexpected future \u00a0events or situations may occur, and other parties may arrive at other \u00a0estimated values. In view of the inherent uncertainties and the high \u00a0level of subjectivity and judgement involved in the recognition and \u00a0measurement of the following items, it is possible that the out- \u00a0comes in the next financial year could differ from those on which \u00a0management\u2019s estimates are based. \u00a0Fair value measurement of mortgage loans \u00a0The fair value of mortgage loans is based on the fair value of the \u00a0underlying issued mortgage bonds adjusted for changes in the fair \u00a0value of the credit risk on borrowers. In addition to the expected \u00a0credit losses, a collective assessment determines the need for adjust- \u00a0ments to reflect other components in the fair value measurement, \u00a0such as an assessment of an investor\u2019s risk premium, compensation \u00a0for administrative costs related to the loans and the possibility to in- \u00a0crease the credit margin if the credit risk increases. \u00a0The fair value of the credit risk on the borrower is based on the ex- \u00a0pected credit loss impairment model in IFRS 9, which depends on \u00a0The downside scenario is a severe recession with high interest rates \u00a0scenario (reflecting a stagflation scenario) applied in the Group\u2019s \u00a0ICAAP processes, which is similar in nature to regulatory stress \u00a0tests. The severe recession scenario reflects negative growth, in- \u00a0creasing interest rates, and falling property prices for a longer pe- \u00a0riod. The use of the downside scenario was introduced to better cap- \u00a0ture the elevated risk from high interest rates and high inflation. A \u00a0trigger of the economic setback could be continued macroeconomic \u00a0worsening and challenges linked to high business costs while infla- \u00a0tion remain elevated. This adversely impacts the labour market, re- \u00a0sults in higher and more persistent unemployment. This would lead \u00a0to a severe slowdown in the economies in which the Group is repre- \u00a0sented. \u00a0The scenario weighting is unchanged from 2023. The weight on the \u00a0base case scenario is 60% (60% in 2023), the upside scenario is \u00a0weighted 20% (20% in 2023), and the downside scenario is \u00a0weighted 20% (20% in 2023). \u00a0At the end of 2024, the fair value adjustment of the credit risk on \u00a0mortgage loans was calculated at DKK 2,837 million (2023: \u00a0DKK 2,656 million), reducing the value of mortgage loans. The \u00a0base case scenario enters with a probability of 60% (2023: 60%), \u00a0the downside scenario with a probability of 20% (2023: 20%) and \u00a0the upside scenario with a probability of 20% (2023: 20%). If the \u00a0base case scenario was assigned a probability of 100%, the fair \u00a0value adjustment at end-2024 would be DKK 2,375 million (2023: \u00a0DKK 2,450 million). The fair value adjustment at the end of 2024 \u00a0would increase to DKK 4,750 million (2023: DKK 4,225 million) if \u00a0the downside scenario was assigned a probability of 100%. If in- \u00a0stead the upside scenario was assigned a probability of 100%, the \u00a0fair value adjustment would decrease to DKK 2,325 million (2023: \u00a0DKK 2,400 million). \u00a0According to the Group\u2019s definition of a significant increase in \u00a0credit risk, i.e. when a loan is transferred from stage 1 to stage 2, \u00a0loans with an initial PD below 1% are transferred to stage 2 if the \u00a0loan\u2019s 12-month PD has increased by at least 0.5 of a percentage \u00a0point and the loan\u2019s lifetime PD has doubled since origination. The \u00a0allowance account is relatively stable in terms of changes to the def- \u00a0inition of significant increase in credit risk. At 31 December 2024, \u00a0the allowance account would increase by DKK 30 million (2023: \u00a0DKK 25 million), if instead an increase in the loan\u2019s 12-month PD \u00a0by at least 0.25 of a percentage point combined with a doubling of \u00a0the lifetime PD was considered a significant increase in credit risk. \u00a0Management applies judgement when determining the need for \u00a0post-model adjustments. At the end of 2024, the post-model adjust- \u00a0ments amounted to DKK 1,149 million (2023: DKK 1,241 million). \u00a0The adjustments cover for instance specific macroeconomic risks on \u00a0certain industries that are not specifically captured by the expected \u00a0credit loss model e.g. effects from climate risk or the macroeco- \u00a0nomic uncertainty. The total balance of post-model adjustments has \u00a0been reduced slightly compared to end of 2023 mainly due to the \u00a0improved macroeconomic outlook. \u00a0",
"dimensions": {
"concept": "ifrs-full:ExplanationOfAssumptionAboutFutureWithSignificantRiskOfResultingInMaterialAdjustments",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1716": {
"value": "Segment reporting \u00a0
Realkredit Danmark operates two primary business segments, mort- \u00a0
gage finance and a proprietary portfolio. The business segments are \u00a0
based on ongoing internal reporting of customer-facing activities \u00a0
(mortgage finance) and risk management (proprietary portfolio). \u00a0
The part of the bond portfolio that is not related to mortgage lend- \u00a0
ing operations is managed under the proprietary portfolio segment. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1717": {
"value": "Translation of transactions in foreign currencies \u00a0
The presentation currency of the consolidated financial statements \u00a0
is Danish kroner, which is the functional currency of Realkredit \u00a0
Danmark. \u00a0
Transactions in foreign currencies are translated into Danish kroner \u00a0
using the exchange rates applicable on the transaction date. Gains \u00a0
and losses on exchange rate differences arising between the transac- \u00a0
tion date and the settlement date are recognised in the income state- \u00a0
ment. \u00a0
Monetary assets and liabilities in foreign currency are translated at \u00a0
the exchange rates at the balance sheet date. Exchange rate adjust- \u00a0
ments of monetary assets and liabilities arising as a result of differ- \u00a0
ences in the exchange rates at the transaction date and at the balance \u00a0
sheet date are recognised in the income statement. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1718": {
"value": "Translation of transactions in foreign currencies \u00a0
The presentation currency of the consolidated financial statements \u00a0
is Danish kroner, which is the functional currency of Realkredit \u00a0
Danmark. \u00a0
Transactions in foreign currencies are translated into Danish kroner \u00a0
using the exchange rates applicable on the transaction date. Gains \u00a0
and losses on exchange rate differences arising between the transac- \u00a0
tion date and the settlement date are recognised in the income state- \u00a0
ment. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFunctionalCurrencyExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1720": {
"value": "Financial instruments \u2013 general \u00a0
Regular way purchases and sales of financial instruments are recog- \u00a0
nised and derecognised at the settlement date. Fair value adjust- \u00a0
ments of unsettled financial instruments are recognised from the \u00a0
trade date to the settlement date for financial instruments subse- \u00a0
quently recognised at fair value over profit or loss. \u00a0
Classification \u00a0
Financial assets are classified at initial recognition on the basis of \u00a0
the company\u2019s business model adopted for managing the assets and \u00a0
on their contractual cash flow characteristics (including embedded \u00a0
derivatives, if any) into one of the following measurement catego- \u00a0
ries: \u00a0
\u2022
Amortised cost if the assets are held exclusively for the \u00a0
purpose of collecting contractual cash flows and if the cash \u00a0
flows are payments of principal and interest on the princi- \u00a0
pal amount outstanding solely. \u00a0
\u2022
Fair value through other comprehensive income if the as- \u00a0
sets are held for the purpose of both collecting contractual \u00a0
cash flows and selling and if cash flows are payments of \u00a0
principal and interest on the principal amount outstanding \u00a0
solely. The Group has no financial assets in this category. \u00a0
\u2022
Fair value through profit or loss for all other financial as- \u00a0
sets. \u00a0
At initial recognition, a financial liability is assigned to one of the \u00a0
following categories: \u00a0
\u2022
Issued mortgage bonds are designated at fair value through \u00a0
profit or loss using the fair value option of IFRS 9 in order \u00a0
not to create an accounting mismatch that would otherwise \u00a0
arise. See below. \u00a0
\u2022
Other financial liabilities, including \u201cSenior debt\u201d meas- \u00a0
ured at amortised cost. \u00a0
Mortgage loans and issued mortgage bonds at fair value through \u00a0
profit or loss (FVPL) \u00a0
Mortgage loans granted under Danish mortgage finance law are \u00a0
funded by issuing listed mortgage bonds with matching terms. Bor- \u00a0
rowers may repay such mortgage loans by delivering the underly- \u00a0
ing bonds. This represents an option to prepay at the fair value of \u00a0
the underlying bonds, which can be both above and below the prin- \u00a0
cipal amount plus accrued interest. Such an option is not consistent \u00a0
with the solely payments of principal and interest test (SPPI test) in \u00a0
IFRS 9, as changes in the fair value of the underlying bonds reflect \u00a0
other factors than interest rate developments. Consequently, regard- \u00a0
less of the fact that the business model is to receive the contractual \u00a0
cash flows, such loans are mandatorily recognised at fair value \u00a0
through profit or loss. \u00a0
If the issued mortgage bonds are valued at amortised cost, and the \u00a0
mortgage loans, which are funded by the issued mortgage bonds \u00a0
with matching terms, are valued at fair value through profit or loss, \u00a0
a timing difference will arise in the recognition of gains and losses \u00a0
in the financial statements. \u00a0
To eliminate this random timing difference in the recognition of \u00a0
gains and losses, both mortgage loans and issued mortgage bonds \u00a0
are valued at fair value through profit or loss (for the issued bonds \u00a0
by using the fair value option of IFRS 9). \u00a0
The fair value of the mortgage loans is based on the fair value of \u00a0
the underlying mortgage bonds adjusted for the credit risk on bor- \u00a0
rower/the Group\u2019s customer. This entails that the fair value adjust- \u00a0
ment of the mortgage loans in all material respects balance out the \u00a0
fair value adjustment of the issued bonds. Consequently, the total \u00a0
fair value adjustment of the issued mortgage bonds, including the \u00a0
proportion relating to own credit risk, is recognised in the income \u00a0
statement, as recognition of the fair value adjustment of own credit \u00a0
risk in other comprehensive income would lead to an accounting \u00a0
mismatch in the income statement. \u00a0
The fair value adjustment of the mortgage loans and the issued \u00a0
mortgage bonds is recognised under Value adjustments, except for \u00a0
the part of the value adjustment that concerns the credit risk on \u00a0
mortgage loans: this part is recognised under Loan impairment \u00a0
charges. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1721": {
"value": "Financial instruments \u2013 general \u00a0
Regular way purchases and sales of financial instruments are recog- \u00a0
nised and derecognised at the settlement date. Fair value adjust- \u00a0
ments of unsettled financial instruments are recognised from the \u00a0
trade date to the settlement date for financial instruments subse- \u00a0
quently recognised at fair value over profit or loss. \u00a0
Classification \u00a0
Financial assets are classified at initial recognition on the basis of \u00a0
the company\u2019s business model adopted for managing the assets and \u00a0
on their contractual cash flow characteristics (including embedded \u00a0
derivatives, if any) into one of the following measurement catego- \u00a0
ries: \u00a0
\u2022
Amortised cost if the assets are held exclusively for the \u00a0
purpose of collecting contractual cash flows and if the cash \u00a0
flows are payments of principal and interest on the princi- \u00a0
pal amount outstanding solely. \u00a0
\u2022
Fair value through other comprehensive income if the as- \u00a0
sets are held for the purpose of both collecting contractual \u00a0
cash flows and selling and if cash flows are payments of \u00a0
principal and interest on the principal amount outstanding \u00a0
solely. The Group has no financial assets in this category. \u00a0
\u2022
Fair value through profit or loss for all other financial as- \u00a0
sets. \u00a0
At initial recognition, a financial liability is assigned to one of the \u00a0
following categories: \u00a0
\u2022
Issued mortgage bonds are designated at fair value through \u00a0
profit or loss using the fair value option of IFRS 9 in order \u00a0
not to create an accounting mismatch that would otherwise \u00a0
arise. See below. \u00a0
\u2022
Other financial liabilities, including \u201cSenior debt\u201d meas- \u00a0
ured at amortised cost. \u00a0
Mortgage loans and issued mortgage bonds at fair value through \u00a0
profit or loss (FVPL) \u00a0
Mortgage loans granted under Danish mortgage finance law are \u00a0
funded by issuing listed mortgage bonds with matching terms. Bor- \u00a0
rowers may repay such mortgage loans by delivering the underly- \u00a0
ing bonds. This represents an option to prepay at the fair value of \u00a0
the underlying bonds, which can be both above and below the prin- \u00a0
cipal amount plus accrued interest. Such an option is not consistent \u00a0
with the solely payments of principal and interest test (SPPI test) in \u00a0
IFRS 9, as changes in the fair value of the underlying bonds reflect \u00a0
other factors than interest rate developments. Consequently, regard- \u00a0
less of the fact that the business model is to receive the contractual \u00a0
cash flows, such loans are mandatorily recognised at fair value \u00a0
through profit or loss. \u00a0
If the issued mortgage bonds are valued at amortised cost, and the \u00a0
mortgage loans, which are funded by the issued mortgage bonds \u00a0
with matching terms, are valued at fair value through profit or loss, \u00a0
a timing difference will arise in the recognition of gains and losses \u00a0
in the financial statements. \u00a0
To eliminate this random timing difference in the recognition of \u00a0
gains and losses, both mortgage loans and issued mortgage bonds \u00a0
are valued at fair value through profit or loss (for the issued bonds \u00a0
by using the fair value option of IFRS 9). \u00a0
The fair value of the mortgage loans is based on the fair value of \u00a0
the underlying mortgage bonds adjusted for the credit risk on bor- \u00a0
rower/the Group\u2019s customer. This entails that the fair value adjust- \u00a0
ment of the mortgage loans in all material respects balance out the \u00a0
fair value adjustment of the issued bonds. Consequently, the total \u00a0
fair value adjustment of the issued mortgage bonds, including the \u00a0
proportion relating to own credit risk, is recognised in the income \u00a0
statement, as recognition of the fair value adjustment of own credit \u00a0
risk in other comprehensive income would lead to an accounting \u00a0
mismatch in the income statement. \u00a0
The fair value adjustment of the mortgage loans and the issued \u00a0
mortgage bonds is recognised under Value adjustments, except for \u00a0
the part of the value adjustment that concerns the credit risk on \u00a0
mortgage loans: this part is recognised under Loan impairment \u00a0
charges. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDerecognitionOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1722": {
"value": "Financial instruments \u2013 general \u00a0
Regular way purchases and sales of financial instruments are recog- \u00a0
nised and derecognised at the settlement date. Fair value adjust- \u00a0
ments of unsettled financial instruments are recognised from the \u00a0
trade date to the settlement date for financial instruments subse- \u00a0
quently recognised at fair value over profit or loss. \u00a0
Classification \u00a0
Financial assets are classified at initial recognition on the basis of \u00a0
the company\u2019s business model adopted for managing the assets and \u00a0
on their contractual cash flow characteristics (including embedded \u00a0
derivatives, if any) into one of the following measurement catego- \u00a0
ries: \u00a0
\u2022
Amortised cost if the assets are held exclusively for the \u00a0
purpose of collecting contractual cash flows and if the cash \u00a0
flows are payments of principal and interest on the princi- \u00a0
pal amount outstanding solely. \u00a0
\u2022
Fair value through other comprehensive income if the as- \u00a0
sets are held for the purpose of both collecting contractual \u00a0
cash flows and selling and if cash flows are payments of \u00a0
principal and interest on the principal amount outstanding \u00a0
solely. The Group has no financial assets in this category. \u00a0
\u2022
Fair value through profit or loss for all other financial as- \u00a0
sets. \u00a0
At initial recognition, a financial liability is assigned to one of the \u00a0
following categories: \u00a0
\u2022
Issued mortgage bonds are designated at fair value through \u00a0
profit or loss using the fair value option of IFRS 9 in order \u00a0
not to create an accounting mismatch that would otherwise \u00a0
arise. See below. \u00a0
\u2022
Other financial liabilities, including \u201cSenior debt\u201d meas- \u00a0
ured at amortised cost. \u00a0
Mortgage loans and issued mortgage bonds at fair value through \u00a0
profit or loss (FVPL) \u00a0
Mortgage loans granted under Danish mortgage finance law are \u00a0
funded by issuing listed mortgage bonds with matching terms. Bor- \u00a0
rowers may repay such mortgage loans by delivering the underly- \u00a0
ing bonds. This represents an option to prepay at the fair value of \u00a0
the underlying bonds, which can be both above and below the prin- \u00a0
cipal amount plus accrued interest. Such an option is not consistent \u00a0
with the solely payments of principal and interest test (SPPI test) in \u00a0
IFRS 9, as changes in the fair value of the underlying bonds reflect \u00a0
other factors than interest rate developments. Consequently, regard- \u00a0
less of the fact that the business model is to receive the contractual \u00a0
cash flows, such loans are mandatorily recognised at fair value \u00a0
through profit or loss. \u00a0
If the issued mortgage bonds are valued at amortised cost, and the \u00a0
mortgage loans, which are funded by the issued mortgage bonds \u00a0
with matching terms, are valued at fair value through profit or loss, \u00a0
a timing difference will arise in the recognition of gains and losses \u00a0
in the financial statements. \u00a0
To eliminate this random timing difference in the recognition of \u00a0
gains and losses, both mortgage loans and issued mortgage bonds \u00a0
are valued at fair value through profit or loss (for the issued bonds \u00a0
by using the fair value option of IFRS 9). \u00a0
The fair value of the mortgage loans is based on the fair value of \u00a0
the underlying mortgage bonds adjusted for the credit risk on bor- \u00a0
rower/the Group\u2019s customer. This entails that the fair value adjust- \u00a0
ment of the mortgage loans in all material respects balance out the \u00a0
fair value adjustment of the issued bonds. Consequently, the total \u00a0
fair value adjustment of the issued mortgage bonds, including the \u00a0
proportion relating to own credit risk, is recognised in the income \u00a0
statement, as recognition of the fair value adjustment of own credit \u00a0
risk in other comprehensive income would lead to an accounting \u00a0
mismatch in the income statement. \u00a0
The fair value adjustment of the mortgage loans and the issued \u00a0
mortgage bonds is recognised under Value adjustments, except for \u00a0
the part of the value adjustment that concerns the credit risk on \u00a0
mortgage loans: this part is recognised under Loan impairment \u00a0
charges. \u00a0
Bonds at amortised cost \u00a0
Realkredit Danmark has a bond portfolio held for the purpose of \u00a0
generating a known return until maturity. The bonds are measured \u00a0
at amortised cost. Interest rate risk is not hedged. Impairment \u00a0
charges are made for expected credit losses on the basis of a classi- \u00a0
fication of the bonds into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for bonds in stage 1 and the \u00a0
present value of lifetime expected credit losses for bonds in stages 2 \u00a0
and 3, cf. the description below in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. For calculating the present \u00a0
value of expected credit losses for discounting purposes, the origi- \u00a0
nal effective interest rate is used instead of the current interest rate. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1723": {
"value": "Financial instruments \u2013 general \u00a0
Regular way purchases and sales of financial instruments are recog- \u00a0
nised and derecognised at the settlement date. Fair value adjust- \u00a0
ments of unsettled financial instruments are recognised from the \u00a0
trade date to the settlement date for financial instruments subse- \u00a0
quently recognised at fair value over profit or loss. \u00a0
Classification \u00a0
Financial assets are classified at initial recognition on the basis of \u00a0
the company\u2019s business model adopted for managing the assets and \u00a0
on their contractual cash flow characteristics (including embedded \u00a0
derivatives, if any) into one of the following measurement catego- \u00a0
ries: \u00a0
\u2022
Amortised cost if the assets are held exclusively for the \u00a0
purpose of collecting contractual cash flows and if the cash \u00a0
flows are payments of principal and interest on the princi- \u00a0
pal amount outstanding solely. \u00a0
\u2022
Fair value through other comprehensive income if the as- \u00a0
sets are held for the purpose of both collecting contractual \u00a0
cash flows and selling and if cash flows are payments of \u00a0
principal and interest on the principal amount outstanding \u00a0
solely. The Group has no financial assets in this category. \u00a0
\u2022
Fair value through profit or loss for all other financial as- \u00a0
sets. \u00a0
At initial recognition, a financial liability is assigned to one of the \u00a0
following categories: \u00a0
\u2022
Issued mortgage bonds are designated at fair value through \u00a0
profit or loss using the fair value option of IFRS 9 in order \u00a0
not to create an accounting mismatch that would otherwise \u00a0
arise. See below. \u00a0
\u2022
Other financial liabilities, including \u201cSenior debt\u201d meas- \u00a0
ured at amortised cost. \u00a0
Mortgage loans and issued mortgage bonds at fair value through \u00a0
profit or loss (FVPL) \u00a0
Mortgage loans granted under Danish mortgage finance law are \u00a0
funded by issuing listed mortgage bonds with matching terms. Bor- \u00a0
rowers may repay such mortgage loans by delivering the underly- \u00a0
ing bonds. This represents an option to prepay at the fair value of \u00a0
the underlying bonds, which can be both above and below the prin- \u00a0
cipal amount plus accrued interest. Such an option is not consistent \u00a0
with the solely payments of principal and interest test (SPPI test) in \u00a0
IFRS 9, as changes in the fair value of the underlying bonds reflect \u00a0
other factors than interest rate developments. Consequently, regard- \u00a0
less of the fact that the business model is to receive the contractual \u00a0
cash flows, such loans are mandatorily recognised at fair value \u00a0
through profit or loss. \u00a0
If the issued mortgage bonds are valued at amortised cost, and the \u00a0
mortgage loans, which are funded by the issued mortgage bonds \u00a0
with matching terms, are valued at fair value through profit or loss, \u00a0
a timing difference will arise in the recognition of gains and losses \u00a0
in the financial statements. \u00a0
To eliminate this random timing difference in the recognition of \u00a0
gains and losses, both mortgage loans and issued mortgage bonds \u00a0
are valued at fair value through profit or loss (for the issued bonds \u00a0
by using the fair value option of IFRS 9). \u00a0
The fair value of the mortgage loans is based on the fair value of \u00a0
the underlying mortgage bonds adjusted for the credit risk on bor- \u00a0
rower/the Group\u2019s customer. This entails that the fair value adjust- \u00a0
ment of the mortgage loans in all material respects balance out the \u00a0
fair value adjustment of the issued bonds. Consequently, the total \u00a0
fair value adjustment of the issued mortgage bonds, including the \u00a0
proportion relating to own credit risk, is recognised in the income \u00a0
statement, as recognition of the fair value adjustment of own credit \u00a0
risk in other comprehensive income would lead to an accounting \u00a0
mismatch in the income statement. \u00a0
The fair value adjustment of the mortgage loans and the issued \u00a0
mortgage bonds is recognised under Value adjustments, except for \u00a0
the part of the value adjustment that concerns the credit risk on \u00a0
mortgage loans: this part is recognised under Loan impairment \u00a0
charges. \u00a0
that are possible within the next 12 months, see however below on \u00a0
the collective assessment of the need for further adjustments. \u00a0
Stage 2: If the credit risk has increased significantly, the loan is \u00a0
transferred to stage 2 and an impairment charge equal to the life- \u00a0
time expected credit losses is recognised. A significant credit risk \u00a0
increase is considered to occur when the following increase in the \u00a0
probability of default (PD) is observed: \u00a0
\u2022
For loans originated below 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of at least 0.5 of a percentage point \u00a0
since origination and a doubling of the loan\u2019s lifetime PD \u00a0
since origination \u00a0
\u2022
For loans originated above 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of 2 percentage points since origination \u00a0
or a doubling of the loan\u2019s lifetime PD since origination \u00a0
\u2022
Further, loans that are more than 30 days past due are moved \u00a0
from stage 1 to stage 2. Finally, customers subject to forbear- \u00a0
ance measures are placed in stage 2, if the Group, in the most \u00a0
likely outcome, expects no loss or the customers are in the 2- \u00a0
year probation period for performing forborne exposures. \u00a0
Stage 3: If the loan is in default, it is transferred to stage 3. A facil- \u00a0
ity becomes credit-impaired when one or more events that have a \u00a0
detrimental impact on the estimated future cash flows have oc- \u00a0
curred. This includes observable data about (a) significant financial \u00a0
difficulty of the borrower; (b) a breach of contract, such as a default \u00a0
or past due event; (c) the borrower, for reasons relating to the bor- \u00a0
rower\u2019s financial difficulty, is granted a concession; (d) it is proba- \u00a0
ble that the borrower will enter into bankruptcy. Credit-impaired fa- \u00a0
cilities are placed in Realkredit Danmark\u2019s rating category 11. For \u00a0
rating category 11, all exposures are classified as stage 3. The \u00a0
Realkredit Danmark Group uses the option to continue to recognise \u00a0
interest income on mortgage loans measured at fair value on the ba- \u00a0
sis of the contractual interest rates. \u00a0
A definition of default is used in the measurement of expected \u00a0
credit losses and the assessment to determine movements between \u00a0
stages. The definition of default is also used for internal credit risk \u00a0
management and capital adequacy purposes. To support a more har- \u00a0
monised approach regarding the application of the definition of de- \u00a0
fault, the European Banking Authority (EBA) issued the following \u00a0
products that guide the application of the definition of default: the \u00a0
Guidelines on the application of the definition of default, \u00a0
EBA/GL/2016/07 and the Regulatory Technical Standards (RTS) \u00a0
on the materiality threshold for credit obligations past due, \u00a0
EBA/RTS/2016/06. \u00a0
The Group\u2019s definition of default for accounting purposes aligns \u00a0
with the regulatory purposes. All exposures that are considered de- \u00a0
fault are also considered Stage 3 exposures. This is applicable for \u00a0
exposures that are default due to either the 90 days past due default \u00a0
trigger or the unlikeliness to pay default triggers. \u00a0
BALANCE SHEET \u00a0
Bonds at fair value \u00a0
At initial recognition, these bonds are measured at fair value, ex- \u00a0
cluding transaction costs. Subsequently, bonds are measured at fair \u00a0
value through profit or loss. The bonds form part of a portfolio, \u00a0
which is managed on a fair value basis. \u00a0
If an active market exists, fair value is based on the most recently \u00a0
observed market price at the balance sheet date. \u00a0
If a bond is quoted in a market that is not active, the Group bases its \u00a0
measurement on the most recent transaction price. Adjustment is \u00a0
made for subsequent changes in market conditions, for instance by \u00a0
including transactions in similar bonds that are motivated by normal \u00a0
business considerations. \u00a0
If no active market exists, fair value is estimated on the basis of \u00a0
generally accepted valuation techniques and market-based parame- \u00a0
ters. \u00a0
Mortgage loans and Issued mortgage bonds at fair value \u00a0
At initial recognition, mortgage loans and issued mortgage bonds \u00a0
are measured at fair value, excluding transaction costs. Subse- \u00a0
quently, these financial instruments are measured at fair value \u00a0
through profit or loss. \u00a0
The fair value of the issued mortgage bonds will usually equal the \u00a0
quoted market price. However, a small part of the issued bonds are \u00a0
illiquid, and the fair value of these bonds is calculated on the basis \u00a0
of a discounted cash flow valuation model. \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on the borrowers. The IFRS 13 estimate of \u00a0
the fair value of the expected credit losses is calculated on the basis \u00a0
of the IFRS 9 model for calculating impairment of losses on loans \u00a0
at amortised cost: expected credit losses, including the classifica- \u00a0
tion of loans between stages 1, 2 and 3: \u00a0
Stage 1: If the credit risk has not increased significantly, the impair- \u00a0
ment equals the expected credit losses resulting from default events \u00a0
The expected credit loss is calculated for all individual loans as a \u00a0
function of the probability of default (PD), the exposure at default \u00a0
(EaD) and the loss given default (LGD). \u00a0
The lifetime expected credit losses cover the expected remaining \u00a0
lifetime of the loan. For most loans, the expected lifetime is limited \u00a0
to the remaining contractual maturity and adjusted for expected pre- \u00a0
payment. For exposures with weak credit quality, the likelihood of \u00a0
prepayment is not included. \u00a0
The forward-looking elements of the calculation reflect the current \u00a0
expectations of senior management. The Danske Bank Group\u2019s inde- \u00a0
pendent macroeconomic research unit creates three macroeconomic \u00a0
scenarios (base case, upside and downside), including an assessment \u00a0
of the probability for each scenario. The purpose of using multiple \u00a0
scenarios is to model the non-linear impact of assumptions about \u00a0
macroeconomic factors on the expected credit losses. Afterwards \u00a0
there is a process to ensure review and sign-off of the scenarios. \u00a0
Management\u2019s approval of scenarios can include adjustments to the \u00a0
scenarios or to which scenarios are used, the assigned probability \u00a0
weighting and post-model adjustments to cover the outlook for par- \u00a0
ticular high-risk portfolios, which are not provided by the Group\u2019s \u00a0
macroeconomists. The approved scenarios are used to calculate the \u00a0
impairment levels. Technically, the forward-looking information is \u00a0
used directly in the PDs through an estimate of general changes to \u00a0
the PDs and the LGDs in the expected credit loss calculation. How- \u00a0
ever, for significant exposures in stage 3, an individual assessment \u00a0
of the scenarios, changes to expected credit losses and the related \u00a0
probabilities are performed by senior credit officers. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. The base case is \u00a0
based on the macroeconomic outlook as disclosed in the Danske \u00a0
Bank Group\u2019s Nordic Outlook reports. \u00a0
In addition, a collective assessment determines the need for further \u00a0
adjustments to reflect other components in the fair value measure- \u00a0
ment, such as an assessment of an investor\u2019s risk premium, compen- \u00a0
sation for administrative costs related to the loans and the possibility \u00a0
of increasing the credit margin if the credit risk increases. This as- \u00a0
sessment also takes into consideration the fact that initial recogni- \u00a0
tion of 12-month expected credit losses is not in accordance with \u00a0
fair value, and the fact that the expected credit losses during the life- \u00a0
time of the asset should be included in the assessment even if the \u00a0
credit risk has not increased significantly. \u00a0
Loans considered uncollectible are written off. Write-offs are deb- \u00a0
ited to the allowance account. Loans are written off once the usual \u00a0
collection procedure has been completed and the loss on the individ- \u00a0
ual loan can be calculated. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1724": {
"value": "Financial instruments \u2013 general \u00a0
Regular way purchases and sales of financial instruments are recog- \u00a0
nised and derecognised at the settlement date. Fair value adjust- \u00a0
ments of unsettled financial instruments are recognised from the \u00a0
trade date to the settlement date for financial instruments subse- \u00a0
quently recognised at fair value over profit or loss. \u00a0
Classification \u00a0
Financial assets are classified at initial recognition on the basis of \u00a0
the company\u2019s business model adopted for managing the assets and \u00a0
on their contractual cash flow characteristics (including embedded \u00a0
derivatives, if any) into one of the following measurement catego- \u00a0
ries: \u00a0
\u2022
Amortised cost if the assets are held exclusively for the \u00a0
purpose of collecting contractual cash flows and if the cash \u00a0
flows are payments of principal and interest on the princi- \u00a0
pal amount outstanding solely. \u00a0
\u2022
Fair value through other comprehensive income if the as- \u00a0
sets are held for the purpose of both collecting contractual \u00a0
cash flows and selling and if cash flows are payments of \u00a0
principal and interest on the principal amount outstanding \u00a0
solely. The Group has no financial assets in this category. \u00a0
\u2022
Fair value through profit or loss for all other financial as- \u00a0
sets. \u00a0
At initial recognition, a financial liability is assigned to one of the \u00a0
following categories: \u00a0
\u2022
Issued mortgage bonds are designated at fair value through \u00a0
profit or loss using the fair value option of IFRS 9 in order \u00a0
not to create an accounting mismatch that would otherwise \u00a0
arise. See below. \u00a0
\u2022
Other financial liabilities, including \u201cSenior debt\u201d meas- \u00a0
ured at amortised cost. \u00a0
Mortgage loans and issued mortgage bonds at fair value through \u00a0
profit or loss (FVPL) \u00a0
Mortgage loans granted under Danish mortgage finance law are \u00a0
funded by issuing listed mortgage bonds with matching terms. Bor- \u00a0
rowers may repay such mortgage loans by delivering the underly- \u00a0
ing bonds. This represents an option to prepay at the fair value of \u00a0
the underlying bonds, which can be both above and below the prin- \u00a0
cipal amount plus accrued interest. Such an option is not consistent \u00a0
with the solely payments of principal and interest test (SPPI test) in \u00a0
IFRS 9, as changes in the fair value of the underlying bonds reflect \u00a0
other factors than interest rate developments. Consequently, regard- \u00a0
less of the fact that the business model is to receive the contractual \u00a0
cash flows, such loans are mandatorily recognised at fair value \u00a0
through profit or loss. \u00a0
If the issued mortgage bonds are valued at amortised cost, and the \u00a0
mortgage loans, which are funded by the issued mortgage bonds \u00a0
with matching terms, are valued at fair value through profit or loss, \u00a0
a timing difference will arise in the recognition of gains and losses \u00a0
in the financial statements. \u00a0
To eliminate this random timing difference in the recognition of \u00a0
gains and losses, both mortgage loans and issued mortgage bonds \u00a0
are valued at fair value through profit or loss (for the issued bonds \u00a0
by using the fair value option of IFRS 9). \u00a0
The fair value of the mortgage loans is based on the fair value of \u00a0
the underlying mortgage bonds adjusted for the credit risk on bor- \u00a0
rower/the Group\u2019s customer. This entails that the fair value adjust- \u00a0
ment of the mortgage loans in all material respects balance out the \u00a0
fair value adjustment of the issued bonds. Consequently, the total \u00a0
fair value adjustment of the issued mortgage bonds, including the \u00a0
proportion relating to own credit risk, is recognised in the income \u00a0
statement, as recognition of the fair value adjustment of own credit \u00a0
risk in other comprehensive income would lead to an accounting \u00a0
mismatch in the income statement. \u00a0
The fair value adjustment of the mortgage loans and the issued \u00a0
mortgage bonds is recognised under Value adjustments, except for \u00a0
the part of the value adjustment that concerns the credit risk on \u00a0
mortgage loans: this part is recognised under Loan impairment \u00a0
charges. \u00a0
that are possible within the next 12 months, see however below on \u00a0
the collective assessment of the need for further adjustments. \u00a0
Stage 2: If the credit risk has increased significantly, the loan is \u00a0
transferred to stage 2 and an impairment charge equal to the life- \u00a0
time expected credit losses is recognised. A significant credit risk \u00a0
increase is considered to occur when the following increase in the \u00a0
probability of default (PD) is observed: \u00a0
\u2022
For loans originated below 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of at least 0.5 of a percentage point \u00a0
since origination and a doubling of the loan\u2019s lifetime PD \u00a0
since origination \u00a0
\u2022
For loans originated above 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of 2 percentage points since origination \u00a0
or a doubling of the loan\u2019s lifetime PD since origination \u00a0
\u2022
Further, loans that are more than 30 days past due are moved \u00a0
from stage 1 to stage 2. Finally, customers subject to forbear- \u00a0
ance measures are placed in stage 2, if the Group, in the most \u00a0
likely outcome, expects no loss or the customers are in the 2- \u00a0
year probation period for performing forborne exposures. \u00a0
Stage 3: If the loan is in default, it is transferred to stage 3. A facil- \u00a0
ity becomes credit-impaired when one or more events that have a \u00a0
detrimental impact on the estimated future cash flows have oc- \u00a0
curred. This includes observable data about (a) significant financial \u00a0
difficulty of the borrower; (b) a breach of contract, such as a default \u00a0
or past due event; (c) the borrower, for reasons relating to the bor- \u00a0
rower\u2019s financial difficulty, is granted a concession; (d) it is proba- \u00a0
ble that the borrower will enter into bankruptcy. Credit-impaired fa- \u00a0
cilities are placed in Realkredit Danmark\u2019s rating category 11. For \u00a0
rating category 11, all exposures are classified as stage 3. The \u00a0
Realkredit Danmark Group uses the option to continue to recognise \u00a0
interest income on mortgage loans measured at fair value on the ba- \u00a0
sis of the contractual interest rates. \u00a0
A definition of default is used in the measurement of expected \u00a0
credit losses and the assessment to determine movements between \u00a0
stages. The definition of default is also used for internal credit risk \u00a0
management and capital adequacy purposes. To support a more har- \u00a0
monised approach regarding the application of the definition of de- \u00a0
fault, the European Banking Authority (EBA) issued the following \u00a0
products that guide the application of the definition of default: the \u00a0
Guidelines on the application of the definition of default, \u00a0
EBA/GL/2016/07 and the Regulatory Technical Standards (RTS) \u00a0
on the materiality threshold for credit obligations past due, \u00a0
EBA/RTS/2016/06. \u00a0
The Group\u2019s definition of default for accounting purposes aligns \u00a0
with the regulatory purposes. All exposures that are considered de- \u00a0
fault are also considered Stage 3 exposures. This is applicable for \u00a0
exposures that are default due to either the 90 days past due default \u00a0
trigger or the unlikeliness to pay default triggers. \u00a0
Mortgage loans and Issued mortgage bonds at fair value \u00a0
At initial recognition, mortgage loans and issued mortgage bonds \u00a0
are measured at fair value, excluding transaction costs. Subse- \u00a0
quently, these financial instruments are measured at fair value \u00a0
through profit or loss. \u00a0
The fair value of the issued mortgage bonds will usually equal the \u00a0
quoted market price. However, a small part of the issued bonds are \u00a0
illiquid, and the fair value of these bonds is calculated on the basis \u00a0
of a discounted cash flow valuation model. \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on the borrowers. The IFRS 13 estimate of \u00a0
the fair value of the expected credit losses is calculated on the basis \u00a0
of the IFRS 9 model for calculating impairment of losses on loans \u00a0
at amortised cost: expected credit losses, including the classifica- \u00a0
tion of loans between stages 1, 2 and 3: \u00a0
Stage 1: If the credit risk has not increased significantly, the impair- \u00a0
ment equals the expected credit losses resulting from default events \u00a0
The expected credit loss is calculated for all individual loans as a \u00a0
function of the probability of default (PD), the exposure at default \u00a0
(EaD) and the loss given default (LGD). \u00a0
The lifetime expected credit losses cover the expected remaining \u00a0
lifetime of the loan. For most loans, the expected lifetime is limited \u00a0
to the remaining contractual maturity and adjusted for expected pre- \u00a0
payment. For exposures with weak credit quality, the likelihood of \u00a0
prepayment is not included. \u00a0
The forward-looking elements of the calculation reflect the current \u00a0
expectations of senior management. The Danske Bank Group\u2019s inde- \u00a0
pendent macroeconomic research unit creates three macroeconomic \u00a0
scenarios (base case, upside and downside), including an assessment \u00a0
of the probability for each scenario. The purpose of using multiple \u00a0
scenarios is to model the non-linear impact of assumptions about \u00a0
macroeconomic factors on the expected credit losses. Afterwards \u00a0
there is a process to ensure review and sign-off of the scenarios. \u00a0
Management\u2019s approval of scenarios can include adjustments to the \u00a0
scenarios or to which scenarios are used, the assigned probability \u00a0
weighting and post-model adjustments to cover the outlook for par- \u00a0
ticular high-risk portfolios, which are not provided by the Group\u2019s \u00a0
macroeconomists. The approved scenarios are used to calculate the \u00a0
impairment levels. Technically, the forward-looking information is \u00a0
used directly in the PDs through an estimate of general changes to \u00a0
the PDs and the LGDs in the expected credit loss calculation. How- \u00a0
ever, for significant exposures in stage 3, an individual assessment \u00a0
of the scenarios, changes to expected credit losses and the related \u00a0
probabilities are performed by senior credit officers. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. The base case is \u00a0
based on the macroeconomic outlook as disclosed in the Danske \u00a0
Bank Group\u2019s Nordic Outlook reports. \u00a0
In addition, a collective assessment determines the need for further \u00a0
adjustments to reflect other components in the fair value measure- \u00a0
ment, such as an assessment of an investor\u2019s risk premium, compen- \u00a0
sation for administrative costs related to the loans and the possibility \u00a0
of increasing the credit margin if the credit risk increases. This as- \u00a0
sessment also takes into consideration the fact that initial recogni- \u00a0
tion of 12-month expected credit losses is not in accordance with \u00a0
fair value, and the fact that the expected credit losses during the life- \u00a0
time of the asset should be included in the assessment even if the \u00a0
credit risk has not increased significantly. \u00a0
Loans considered uncollectible are written off. Write-offs are deb- \u00a0
ited to the allowance account. Loans are written off once the usual \u00a0
collection procedure has been completed and the loss on the individ- \u00a0
ual loan can be calculated. \u00a0
Due to credit institutions and central banks \u00a0
Due to credit institutions and central banks include amounts re- \u00a0
ceived under repo transactions. These deposits are recognised as \u00a0
debt with collateral in the securities surrendered. Repo transactions \u00a0
are made on standard terms and conditions. Amounts due to credit \u00a0
institutions and central banks are measured at amortised cost. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1725": {
"value": "Financial instruments \u2013 general \u00a0
Regular way purchases and sales of financial instruments are recog- \u00a0
nised and derecognised at the settlement date. Fair value adjust- \u00a0
ments of unsettled financial instruments are recognised from the \u00a0
trade date to the settlement date for financial instruments subse- \u00a0
quently recognised at fair value over profit or loss. \u00a0
Classification \u00a0
Financial assets are classified at initial recognition on the basis of \u00a0
the company\u2019s business model adopted for managing the assets and \u00a0
on their contractual cash flow characteristics (including embedded \u00a0
derivatives, if any) into one of the following measurement catego- \u00a0
ries: \u00a0
\u2022
Amortised cost if the assets are held exclusively for the \u00a0
purpose of collecting contractual cash flows and if the cash \u00a0
flows are payments of principal and interest on the princi- \u00a0
pal amount outstanding solely. \u00a0
\u2022
Fair value through other comprehensive income if the as- \u00a0
sets are held for the purpose of both collecting contractual \u00a0
cash flows and selling and if cash flows are payments of \u00a0
principal and interest on the principal amount outstanding \u00a0
solely. The Group has no financial assets in this category. \u00a0
\u2022
Fair value through profit or loss for all other financial as- \u00a0
sets. \u00a0
At initial recognition, a financial liability is assigned to one of the \u00a0
following categories: \u00a0
\u2022
Issued mortgage bonds are designated at fair value through \u00a0
profit or loss using the fair value option of IFRS 9 in order \u00a0
not to create an accounting mismatch that would otherwise \u00a0
arise. See below. \u00a0
\u2022
Other financial liabilities, including \u201cSenior debt\u201d meas- \u00a0
ured at amortised cost. \u00a0
Mortgage loans and issued mortgage bonds at fair value through \u00a0
profit or loss (FVPL) \u00a0
Mortgage loans granted under Danish mortgage finance law are \u00a0
funded by issuing listed mortgage bonds with matching terms. Bor- \u00a0
rowers may repay such mortgage loans by delivering the underly- \u00a0
ing bonds. This represents an option to prepay at the fair value of \u00a0
the underlying bonds, which can be both above and below the prin- \u00a0
cipal amount plus accrued interest. Such an option is not consistent \u00a0
with the solely payments of principal and interest test (SPPI test) in \u00a0
IFRS 9, as changes in the fair value of the underlying bonds reflect \u00a0
other factors than interest rate developments. Consequently, regard- \u00a0
less of the fact that the business model is to receive the contractual \u00a0
cash flows, such loans are mandatorily recognised at fair value \u00a0
through profit or loss. \u00a0
If the issued mortgage bonds are valued at amortised cost, and the \u00a0
mortgage loans, which are funded by the issued mortgage bonds \u00a0
with matching terms, are valued at fair value through profit or loss, \u00a0
a timing difference will arise in the recognition of gains and losses \u00a0
in the financial statements. \u00a0
To eliminate this random timing difference in the recognition of \u00a0
gains and losses, both mortgage loans and issued mortgage bonds \u00a0
are valued at fair value through profit or loss (for the issued bonds \u00a0
by using the fair value option of IFRS 9). \u00a0
The fair value of the mortgage loans is based on the fair value of \u00a0
the underlying mortgage bonds adjusted for the credit risk on bor- \u00a0
rower/the Group\u2019s customer. This entails that the fair value adjust- \u00a0
ment of the mortgage loans in all material respects balance out the \u00a0
fair value adjustment of the issued bonds. Consequently, the total \u00a0
fair value adjustment of the issued mortgage bonds, including the \u00a0
proportion relating to own credit risk, is recognised in the income \u00a0
statement, as recognition of the fair value adjustment of own credit \u00a0
risk in other comprehensive income would lead to an accounting \u00a0
mismatch in the income statement. \u00a0
The fair value adjustment of the mortgage loans and the issued \u00a0
mortgage bonds is recognised under Value adjustments, except for \u00a0
the part of the value adjustment that concerns the credit risk on \u00a0
mortgage loans: this part is recognised under Loan impairment \u00a0
charges. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForHeldtomaturityInvestmentsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1750": {
"value": "The table below shows the distribution of the Group\u2019s financial instruments by valuation method: \u00a0
Fair value through profit or loss \u00a0
Managed on fair- \u00a0
Due to \u00a0
Amortised cost \u00a0
Trading portfolio \u00a0
value basis \u00a0
SPPI test \u00a0
Designated \u00a0
Total \u00a0
Assets \u00a0
Cash in hand and demand deposits \u00a0
with central banks \u00a0
10,802 \u00a0
-
-
-
-
10,802 \u00a0
Due from credit institutions and \u00a0
central banks \u00a0
6,826 \u00a0
-
-
-
-
6,826 \u00a0
Bonds \u00a0
27,922 \u00a0
-
24,367 \u00a0
-
-
52,289 \u00a0
Loans \u00a0
207 \u00a0
-
-
755,539 \u00a0
-
755,746 \u00a0
Shares \u00a0
-
-
2
-
-
2
Derivatives (Other assets) \u00a0
-
22 \u00a0
-
-
-
22 \u00a0
Total assets, 31 December 2024 \u00a0
45,757 \u00a0
22 \u00a0
24,369 \u00a0
755,539 \u00a0
-
825,687 \u00a0
Total assets, 31 December 2023 \u00a0
44,610 \u00a0
29 \u00a0
16,807 \u00a0
753,624 \u00a0
-
815,070 \u00a0
Liabilities \u00a0
Due to credit institutions and central \u00a0
banks \u00a0
3,500 \u00a0
-
-
-
-
3,500 \u00a0
Issued bonds \u00a0
-
-
-
-
762,125 \u00a0
762,125 \u00a0
Derivatives (Other liabilities) \u00a0
-
9
-
-
-
9
Total liabilities, 31 December 2024 \u00a0
3,500 \u00a0
9
-
-
762,125 \u00a0
765,634 \u00a0
Total liabilities, 31 December 2023 \u00a0
2,000 \u00a0
186 \u00a0
-
-
756,509 \u00a0
758,695 \u00a0
Due from credit institutions and \u00a0
central banks \u00a0
On demand \u00a0
864 \u00a0
1,050 \u00a0
789 \u00a0
981 \u00a0
3 months or less \u00a0
5,962 \u00a0
2,493 \u00a0
5,962 \u00a0
2,493 \u00a0
3-12 months \u00a0
-
-
-
-
Total \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Due from credit institutions \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Term deposits with central banks \u00a0
-
-
-
-
Total \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
At fair value \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Portion attributable to reverse transactions \u00a0
5,962 \u00a0
2,493 \u00a0
5,962 \u00a0
2,493 \u00a0
The fair value is based on quoted prices. \u00a0
In 2024, reverse transactions of DKK 3,121 million were offset against repo transactions (2023: DKK 7,099 million). \u00a0
In connection with reverse transactions, Realkredit Danmark is entitled to sell or remortgage the securities. \u00a0
In 2024, securities worth DKK 0 million were sold or remortgaged (2023: DKK 0 million). \u00a0
Bonds at fair value \u00a0
Own mortgage bonds \u00a0
77,319 \u00a0
42,390 \u00a0
77,319 \u00a0
42,390 \u00a0
Other mortgage bonds \u00a0
19,929 \u00a0
16,366 \u00a0
19,929 \u00a0
16,366 \u00a0
Government bond \u00a0
4,438 \u00a0
438 \u00a0
4,438 \u00a0
438 \u00a0
Total \u00a0
101,686 \u00a0
59,194 \u00a0
101,686 \u00a0
59,194 \u00a0
Own mortgage bonds set off against \u00a0
issued mortgage bonds \u00a0
77,319 \u00a0
42,390 \u00a0
77,319 \u00a0
42,390 \u00a0
Total \u00a0
24,367 \u00a0
16,804 \u00a0
24,367 \u00a0
16,804 \u00a0
Of Realkredit Danmark's bond portfolio, DKK 22.0 billion has a maturity of less than 12 months, while DKK 2.4 billion has a maturity of 1-5 \u00a0
years (2023: DKK 15.1 billion and DKK 1.7 billion). \u00a0
Mortgage loans at fair value \u00a0
Mortgage loans (nominal value) broken down by \u00a0
property category (percentage) \u00a0
Owner-occupied dwellings \u00a0
49 \u00a0
49 \u00a0
49 \u00a0
49 \u00a0
Holiday homes \u00a0
3
3
3
3
Subsidised residential property \u00a0
12 \u00a0
12 \u00a0
12 \u00a0
12 \u00a0
Private residential rental property \u00a0
15 \u00a0
15 \u00a0
15 \u00a0
15 \u00a0
Industrial and skilled trades property \u00a0
3
3
3
3
Office and retail property \u00a0
11 \u00a0
11 \u00a0
11 \u00a0
11 \u00a0
Agricultural property etc. \u00a0
5
5
5
5
Property for social, cultural and \u00a0
training activities \u00a0
2
2
2
2
Total \u00a0
100 \u00a0
100 \u00a0
100 \u00a0
100 \u00a0
0-1 month \u00a0
914 \u00a0
923 \u00a0
914 \u00a0
923 \u00a0
1-3 months \u00a0
5,915 \u00a0
4,601 \u00a0
5,915 \u00a0
4,601 \u00a0
3-12 months \u00a0
17,723 \u00a0
14,908 \u00a0
17,723 \u00a0
14,908 \u00a0
1-5 years \u00a0
93,704 \u00a0
92,458 \u00a0
93,704 \u00a0
92,458 \u00a0
5-10 years \u00a0
137,628 \u00a0
134,525 \u00a0
137,628 \u00a0
134,525 \u00a0
Over 10 years \u00a0
499,655 \u00a0
506,209 \u00a0
499,655 \u00a0
506,209 \u00a0
Total \u00a0
755,539 \u00a0
753,624 \u00a0
755,539 \u00a0
753,624 \u00a0
Due to credit institutions and central banks \u00a0
On demand \u00a0
-
-
-
-
3 months or less \u00a0
-
-
-
-
3-12 months \u00a0
-
2,000 \u00a0
-
2,000 \u00a0
1-5 years \u00a0
3,500 \u00a0
-
3,500 \u00a0
-
Total \u00a0
3,500 \u00a0
2,000 \u00a0
3,500 \u00a0
2,000 \u00a0
At fair value \u00a0
3,500 \u00a0
2,000 \u00a0
3,500 \u00a0
2,000 \u00a0
Portion attributable to repo transactions \u00a0
-
-
-
-
In 2024, repo transactions of DKK 3,121 million were offset against reverse transactions (2023: DKK 7,099 million). \u00a0
Issued mortgage bonds at fair value \u00a0
Issued mortgage bonds, nominal value* \u00a0
877,251 \u00a0
849,818 \u00a0
877,251 \u00a0
849,818 \u00a0
Fair value adjustment \u00a0
-37,807 \u00a0
-50,919 \u00a0
-37,807 \u00a0
-50,919 \u00a0
Issued mortgage bonds at fair value, before set-off \u00a0
839,444 \u00a0
798,899 \u00a0
839,444 \u00a0
798,899 \u00a0
Set-off of own mortgage bonds at fair value \u00a0
77,319 \u00a0
42,390 \u00a0
77,319 \u00a0
42,390 \u00a0
Issued mortgage bonds at fair value \u00a0
762,125 \u00a0
756,509 \u00a0
762,125 \u00a0
756,509 \u00a0
The fair value is based on quoted prices. \u00a0
0-1 month \u00a0
72,726 \u00a0
42,351 \u00a0
72,726 \u00a0
42,351 \u00a0
1-3 months \u00a0
-
-
-
-
3-12 months \u00a0
65,910 \u00a0
116,441 \u00a0
65,910 \u00a0
116,441 \u00a0
1-5 years \u00a0
371,322 \u00a0
334,680 \u00a0
371,322 \u00a0
334,680 \u00a0
5-10 years \u00a0
84,644 \u00a0
95,760 \u00a0
84,644 \u00a0
95,760 \u00a0
Over 10 years \u00a0
167,523 \u00a0
167,277 \u00a0
167,523 \u00a0
167,277 \u00a0
Total \u00a0
762,125 \u00a0
756,509 \u00a0
762,125 \u00a0
756,509 \u00a0
* Portion pre-issued \u00a0
56,271 \u00a0
30,924 \u00a0
56,271 \u00a0
30,924 \u00a0
* Portion drawn at 2 January 2025, or 2 January 2024 \u00a0
73,007 \u00a0
36,070 \u00a0
73,007 \u00a0
36,070 \u00a0
*In 2024, Realkredit Danmark issued bonds under the green bond framework, with a nominal value of DKK 29,126 million outstanding at the end \u00a0
of 2024 (2023: DKK 27,153 million). \u00a0
Fair value adjustment for the credit risk on issued mortgage bonds is calculated on the basis of the option-adjusted spread (OAS). The calculation \u00a0
incorporates maturity, nominal holdings and OAS sensitivity. As a number of estimates are made, the calculation is subject to uncertainty. \u00a0
In 2024, the Danish mortgage bond yield spread increased and the fair value of issued mortgage bonds thus decreased by approximately DKK 7.0 \u00a0
billion. In 2023, the Danish mortgage bond yield spread increased, causing a decrease in the fair value of issued mortgage bonds. Based on the \u00a0
outstanding portfolio at the end of 2024, Realkredit Danmark estimates that there has been a net increase of the spread since the issuance of the \u00a0
bonds, which produces a positive fair value of approximately DKK 1.37 billion (2023: negative fair value of approximately DKK 0.05 billion). \u00a0
Net profit and shareholders\u2019 equity remain unaffected by the change in fair value because the spread increase, decrease the value of mortgage \u00a0
loans correspondingly. \u00a0
Fair value adjustment for the credit risk on issued mortgage bonds may also be calculated on the basis of changes in similar AAA rated mortgage \u00a0
bonds offered by other Danish issuers. The market for such bonds is characterised by an absence of measurable price differences between bonds \u00a0
with similar features from different issuers. Using this method, no fair value adjustment for credit risk in 2024 or the period since the issue has \u00a0
been required. \u00a0
Realkredit Danmark Group \u00a0
Financial instruments at fair value \u00a0
Quoted \u00a0
Observable \u00a0
Non-observable \u00a0
2024 \u00a0
prices \u00a0
input \u00a0
input \u00a0
Total \u00a0
Bonds at fair value \u00a0
1,138 \u00a0
23,229 \u00a0
-
24,367 \u00a0
Mortgage loans at fair value \u00a0
-
755,539 \u00a0
-
755,539 \u00a0
Shares \u00a0
-
-
2
2
Derivatives \u00a0
-
22 \u00a0
-
22 \u00a0
Total \u00a0
1,138 \u00a0
778,790 \u00a0
2
779,930 \u00a0
Issued mortgage bonds at fair value \u00a0
762,125 \u00a0
-
-
762,125 \u00a0
Derivatives \u00a0
-
9
-
9
Total \u00a0
762,125 \u00a0
9
-
762,134 \u00a0
2023 \u00a0
Bonds at fair value \u00a0
1,686 \u00a0
15,118 \u00a0
-
16,804 \u00a0
Mortgage loans at fair value \u00a0
-
753,624 \u00a0
-
753,624 \u00a0
Shares \u00a0
-
-
3
3
Derivatives \u00a0
-
29 \u00a0
-
29 \u00a0
Total \u00a0
1,686 \u00a0
768,771 \u00a0
3
770,460 \u00a0
Issued mortgage bonds at fair value \u00a0
756,509 \u00a0
-
-
756,509 \u00a0
Derivatives \u00a0
-
186 \u00a0
-
186 \u00a0
Total \u00a0
756,509 \u00a0
186 \u00a0
-
756,695 \u00a0
Fair value is the amount at which a financial asset can be traded between knowledgeable, willing parties. If an active market exists, \u00a0
Realkredit Danmark uses the quoted price. \u00a0
Developments in the financial markets did not lead to reclassification of bonds between listed prices and observable input in 2024.
\u00a0
Mortgage loans and issued mortgage bonds are recognised at the fair value of the issued mortgage bonds. In accordance with the accounting poli- \u00a0
cies, the fair value of the credit risk on the mortgage loans is adjusted. \u00a0
Valuation techniques are generally used for OTC derivatives and unlisted shares. The most frequently used valuation models include pricing of \u00a0
businesses with future settlement and swap models using present value calculations. The valuation is based substantially on observable input. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1751": {
"value": "The table below shows the distribution of the Group\u2019s financial instruments by valuation method: \u00a0
Fair value through profit or loss \u00a0
Managed on fair- \u00a0
Due to \u00a0
Amortised cost \u00a0
Trading portfolio \u00a0
value basis \u00a0
SPPI test \u00a0
Designated \u00a0
Total \u00a0
Assets \u00a0
Cash in hand and demand deposits \u00a0
with central banks \u00a0
10,802 \u00a0
-
-
-
-
10,802 \u00a0
Due from credit institutions and \u00a0
central banks \u00a0
6,826 \u00a0
-
-
-
-
6,826 \u00a0
Bonds \u00a0
27,922 \u00a0
-
24,367 \u00a0
-
-
52,289 \u00a0
Loans \u00a0
207 \u00a0
-
-
755,539 \u00a0
-
755,746 \u00a0
Shares \u00a0
-
-
2
-
-
2
Derivatives (Other assets) \u00a0
-
22 \u00a0
-
-
-
22 \u00a0
Total assets, 31 December 2024 \u00a0
45,757 \u00a0
22 \u00a0
24,369 \u00a0
755,539 \u00a0
-
825,687 \u00a0
Total assets, 31 December 2023 \u00a0
44,610 \u00a0
29 \u00a0
16,807 \u00a0
753,624 \u00a0
-
815,070 \u00a0
Liabilities \u00a0
Due to credit institutions and central \u00a0
banks \u00a0
3,500 \u00a0
-
-
-
-
3,500 \u00a0
Issued bonds \u00a0
-
-
-
-
762,125 \u00a0
762,125 \u00a0
Derivatives (Other liabilities) \u00a0
-
9
-
-
-
9
Total liabilities, 31 December 2024 \u00a0
3,500 \u00a0
9
-
-
762,125 \u00a0
765,634 \u00a0
Total liabilities, 31 December 2023 \u00a0
2,000 \u00a0
186 \u00a0
-
-
756,509 \u00a0
758,695 \u00a0
Due to credit institutions and central banks \u00a0
On demand \u00a0
-
-
-
-
3 months or less \u00a0
-
-
-
-
3-12 months \u00a0
-
2,000 \u00a0
-
2,000 \u00a0
1-5 years \u00a0
3,500 \u00a0
-
3,500 \u00a0
-
Total \u00a0
3,500 \u00a0
2,000 \u00a0
3,500 \u00a0
2,000 \u00a0
At fair value \u00a0
3,500 \u00a0
2,000 \u00a0
3,500 \u00a0
2,000 \u00a0
Portion attributable to repo transactions \u00a0
-
-
-
-
In 2024, repo transactions of DKK 3,121 million were offset against reverse transactions (2023: DKK 7,099 million). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1752": {
"value": "The table below shows the distribution of the Group\u2019s financial instruments by valuation method: \u00a0
Fair value through profit or loss \u00a0
Managed on fair- \u00a0
Due to \u00a0
Amortised cost \u00a0
Trading portfolio \u00a0
value basis \u00a0
SPPI test \u00a0
Designated \u00a0
Total \u00a0
Assets \u00a0
Cash in hand and demand deposits \u00a0
with central banks \u00a0
10,802 \u00a0
-
-
-
-
10,802 \u00a0
Due from credit institutions and \u00a0
central banks \u00a0
6,826 \u00a0
-
-
-
-
6,826 \u00a0
Bonds \u00a0
27,922 \u00a0
-
24,367 \u00a0
-
-
52,289 \u00a0
Loans \u00a0
207 \u00a0
-
-
755,539 \u00a0
-
755,746 \u00a0
Shares \u00a0
-
-
2
-
-
2
Derivatives (Other assets) \u00a0
-
22 \u00a0
-
-
-
22 \u00a0
Total assets, 31 December 2024 \u00a0
45,757 \u00a0
22 \u00a0
24,369 \u00a0
755,539 \u00a0
-
825,687 \u00a0
Total assets, 31 December 2023 \u00a0
44,610 \u00a0
29 \u00a0
16,807 \u00a0
753,624 \u00a0
-
815,070 \u00a0
Liabilities \u00a0
Due to credit institutions and central \u00a0
banks \u00a0
3,500 \u00a0
-
-
-
-
3,500 \u00a0
Issued bonds \u00a0
-
-
-
-
762,125 \u00a0
762,125 \u00a0
Derivatives (Other liabilities) \u00a0
-
9
-
-
-
9
Total liabilities, 31 December 2024 \u00a0
3,500 \u00a0
9
-
-
762,125 \u00a0
765,634 \u00a0
Total liabilities, 31 December 2023 \u00a0
2,000 \u00a0
186 \u00a0
-
-
756,509 \u00a0
758,695 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsHeldForTradingExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1753": {
"value": "The table below shows the distribution of the Group\u2019s financial instruments by valuation method: \u00a0
Fair value through profit or loss \u00a0
Managed on fair- \u00a0
Due to \u00a0
Amortised cost \u00a0
Trading portfolio \u00a0
value basis \u00a0
SPPI test \u00a0
Designated \u00a0
Total \u00a0
Assets \u00a0
Cash in hand and demand deposits \u00a0
with central banks \u00a0
10,802 \u00a0
-
-
-
-
10,802 \u00a0
Due from credit institutions and \u00a0
central banks \u00a0
6,826 \u00a0
-
-
-
-
6,826 \u00a0
Bonds \u00a0
27,922 \u00a0
-
24,367 \u00a0
-
-
52,289 \u00a0
Loans \u00a0
207 \u00a0
-
-
755,539 \u00a0
-
755,746 \u00a0
Shares \u00a0
-
-
2
-
-
2
Derivatives (Other assets) \u00a0
-
22 \u00a0
-
-
-
22 \u00a0
Total assets, 31 December 2024 \u00a0
45,757 \u00a0
22 \u00a0
24,369 \u00a0
755,539 \u00a0
-
825,687 \u00a0
Total assets, 31 December 2023 \u00a0
44,610 \u00a0
29 \u00a0
16,807 \u00a0
753,624 \u00a0
-
815,070 \u00a0
Liabilities \u00a0
Due to credit institutions and central \u00a0
banks \u00a0
3,500 \u00a0
-
-
-
-
3,500 \u00a0
Issued bonds \u00a0
-
-
-
-
762,125 \u00a0
762,125 \u00a0
Derivatives (Other liabilities) \u00a0
-
9
-
-
-
9
Total liabilities, 31 December 2024 \u00a0
3,500 \u00a0
9
-
-
762,125 \u00a0
765,634 \u00a0
Total liabilities, 31 December 2023 \u00a0
2,000 \u00a0
186 \u00a0
-
-
756,509 \u00a0
758,695 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialLiabilitiesHeldForTradingExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1754": {
"value": "The table below shows the distribution of the Group\u2019s financial instruments by valuation method: \u00a0
Fair value through profit or loss \u00a0
Managed on fair- \u00a0
Due to \u00a0
Amortised cost \u00a0
Trading portfolio \u00a0
value basis \u00a0
SPPI test \u00a0
Designated \u00a0
Total \u00a0
Assets \u00a0
Cash in hand and demand deposits \u00a0
with central banks \u00a0
10,802 \u00a0
-
-
-
-
10,802 \u00a0
Due from credit institutions and \u00a0
central banks \u00a0
6,826 \u00a0
-
-
-
-
6,826 \u00a0
Bonds \u00a0
27,922 \u00a0
-
24,367 \u00a0
-
-
52,289 \u00a0
Loans \u00a0
207 \u00a0
-
-
755,539 \u00a0
-
755,746 \u00a0
Shares \u00a0
-
-
2
-
-
2
Derivatives (Other assets) \u00a0
-
22 \u00a0
-
-
-
22 \u00a0
Total assets, 31 December 2024 \u00a0
45,757 \u00a0
22 \u00a0
24,369 \u00a0
755,539 \u00a0
-
825,687 \u00a0
Total assets, 31 December 2023 \u00a0
44,610 \u00a0
29 \u00a0
16,807 \u00a0
753,624 \u00a0
-
815,070 \u00a0
Liabilities \u00a0
Due to credit institutions and central \u00a0
banks \u00a0
3,500 \u00a0
-
-
-
-
3,500 \u00a0
Issued bonds \u00a0
-
-
-
-
762,125 \u00a0
762,125 \u00a0
Derivatives (Other liabilities) \u00a0
-
9
-
-
-
9
Total liabilities, 31 December 2024 \u00a0
3,500 \u00a0
9
-
-
762,125 \u00a0
765,634 \u00a0
Total liabilities, 31 December 2023 \u00a0
2,000 \u00a0
186 \u00a0
-
-
756,509 \u00a0
758,695 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialAssetsHeldForTradingExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1763": {
"value": "that are possible within the next 12 months, see however below on \u00a0
the collective assessment of the need for further adjustments. \u00a0
Stage 2: If the credit risk has increased significantly, the loan is \u00a0
transferred to stage 2 and an impairment charge equal to the life- \u00a0
time expected credit losses is recognised. A significant credit risk \u00a0
increase is considered to occur when the following increase in the \u00a0
probability of default (PD) is observed: \u00a0
\u2022
For loans originated below 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of at least 0.5 of a percentage point \u00a0
since origination and a doubling of the loan\u2019s lifetime PD \u00a0
since origination \u00a0
\u2022
For loans originated above 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of 2 percentage points since origination \u00a0
or a doubling of the loan\u2019s lifetime PD since origination \u00a0
\u2022
Further, loans that are more than 30 days past due are moved \u00a0
from stage 1 to stage 2. Finally, customers subject to forbear- \u00a0
ance measures are placed in stage 2, if the Group, in the most \u00a0
likely outcome, expects no loss or the customers are in the 2- \u00a0
year probation period for performing forborne exposures. \u00a0
Stage 3: If the loan is in default, it is transferred to stage 3. A facil- \u00a0
ity becomes credit-impaired when one or more events that have a \u00a0
detrimental impact on the estimated future cash flows have oc- \u00a0
curred. This includes observable data about (a) significant financial \u00a0
difficulty of the borrower; (b) a breach of contract, such as a default \u00a0
or past due event; (c) the borrower, for reasons relating to the bor- \u00a0
rower\u2019s financial difficulty, is granted a concession; (d) it is proba- \u00a0
ble that the borrower will enter into bankruptcy. Credit-impaired fa- \u00a0
cilities are placed in Realkredit Danmark\u2019s rating category 11. For \u00a0
rating category 11, all exposures are classified as stage 3. The \u00a0
Realkredit Danmark Group uses the option to continue to recognise \u00a0
interest income on mortgage loans measured at fair value on the ba- \u00a0
sis of the contractual interest rates. \u00a0
A definition of default is used in the measurement of expected \u00a0
credit losses and the assessment to determine movements between \u00a0
stages. The definition of default is also used for internal credit risk \u00a0
management and capital adequacy purposes. To support a more har- \u00a0
monised approach regarding the application of the definition of de- \u00a0
fault, the European Banking Authority (EBA) issued the following \u00a0
products that guide the application of the definition of default: the \u00a0
Guidelines on the application of the definition of default, \u00a0
EBA/GL/2016/07 and the Regulatory Technical Standards (RTS) \u00a0
on the materiality threshold for credit obligations past due, \u00a0
EBA/RTS/2016/06. \u00a0
The Group\u2019s definition of default for accounting purposes aligns \u00a0
with the regulatory purposes. All exposures that are considered de- \u00a0
fault are also considered Stage 3 exposures. This is applicable for \u00a0
exposures that are default due to either the 90 days past due default \u00a0
trigger or the unlikeliness to pay default triggers. \u00a0
Mortgage loans and Issued mortgage bonds at fair value \u00a0
At initial recognition, mortgage loans and issued mortgage bonds \u00a0
are measured at fair value, excluding transaction costs. Subse- \u00a0
quently, these financial instruments are measured at fair value \u00a0
through profit or loss. \u00a0
The fair value of the issued mortgage bonds will usually equal the \u00a0
quoted market price. However, a small part of the issued bonds are \u00a0
illiquid, and the fair value of these bonds is calculated on the basis \u00a0
of a discounted cash flow valuation model. \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on the borrowers. The IFRS 13 estimate of \u00a0
the fair value of the expected credit losses is calculated on the basis \u00a0
of the IFRS 9 model for calculating impairment of losses on loans \u00a0
at amortised cost: expected credit losses, including the classifica- \u00a0
tion of loans between stages 1, 2 and 3: \u00a0
Stage 1: If the credit risk has not increased significantly, the impair- \u00a0
ment equals the expected credit losses resulting from default events \u00a0
The expected credit loss is calculated for all individual loans as a \u00a0
function of the probability of default (PD), the exposure at default \u00a0
(EaD) and the loss given default (LGD). \u00a0
The lifetime expected credit losses cover the expected remaining \u00a0
lifetime of the loan. For most loans, the expected lifetime is limited \u00a0
to the remaining contractual maturity and adjusted for expected pre- \u00a0
payment. For exposures with weak credit quality, the likelihood of \u00a0
prepayment is not included. \u00a0
The forward-looking elements of the calculation reflect the current \u00a0
expectations of senior management. The Danske Bank Group\u2019s inde- \u00a0
pendent macroeconomic research unit creates three macroeconomic \u00a0
scenarios (base case, upside and downside), including an assessment \u00a0
of the probability for each scenario. The purpose of using multiple \u00a0
scenarios is to model the non-linear impact of assumptions about \u00a0
macroeconomic factors on the expected credit losses. Afterwards \u00a0
there is a process to ensure review and sign-off of the scenarios. \u00a0
Management\u2019s approval of scenarios can include adjustments to the \u00a0
scenarios or to which scenarios are used, the assigned probability \u00a0
weighting and post-model adjustments to cover the outlook for par- \u00a0
ticular high-risk portfolios, which are not provided by the Group\u2019s \u00a0
macroeconomists. The approved scenarios are used to calculate the \u00a0
impairment levels. Technically, the forward-looking information is \u00a0
used directly in the PDs through an estimate of general changes to \u00a0
the PDs and the LGDs in the expected credit loss calculation. How- \u00a0
ever, for significant exposures in stage 3, an individual assessment \u00a0
of the scenarios, changes to expected credit losses and the related \u00a0
probabilities are performed by senior credit officers. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. The base case is \u00a0
based on the macroeconomic outlook as disclosed in the Danske \u00a0
Bank Group\u2019s Nordic Outlook reports. \u00a0
In addition, a collective assessment determines the need for further \u00a0
adjustments to reflect other components in the fair value measure- \u00a0
ment, such as an assessment of an investor\u2019s risk premium, compen- \u00a0
sation for administrative costs related to the loans and the possibility \u00a0
of increasing the credit margin if the credit risk increases. This as- \u00a0
sessment also takes into consideration the fact that initial recogni- \u00a0
tion of 12-month expected credit losses is not in accordance with \u00a0
fair value, and the fact that the expected credit losses during the life- \u00a0
time of the asset should be included in the assessment even if the \u00a0
credit risk has not increased significantly. \u00a0
Loans considered uncollectible are written off. Write-offs are deb- \u00a0
ited to the allowance account. Loans are written off once the usual \u00a0
collection procedure has been completed and the loss on the individ- \u00a0
ual loan can be calculated. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForLoansAndReceivablesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1766": {
"value": "that are possible within the next 12 months, see however below on \u00a0
the collective assessment of the need for further adjustments. \u00a0
Stage 2: If the credit risk has increased significantly, the loan is \u00a0
transferred to stage 2 and an impairment charge equal to the life- \u00a0
time expected credit losses is recognised. A significant credit risk \u00a0
increase is considered to occur when the following increase in the \u00a0
probability of default (PD) is observed: \u00a0
\u2022
For loans originated below 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of at least 0.5 of a percentage point \u00a0
since origination and a doubling of the loan\u2019s lifetime PD \u00a0
since origination \u00a0
\u2022
For loans originated above 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of 2 percentage points since origination \u00a0
or a doubling of the loan\u2019s lifetime PD since origination \u00a0
\u2022
Further, loans that are more than 30 days past due are moved \u00a0
from stage 1 to stage 2. Finally, customers subject to forbear- \u00a0
ance measures are placed in stage 2, if the Group, in the most \u00a0
likely outcome, expects no loss or the customers are in the 2- \u00a0
year probation period for performing forborne exposures. \u00a0
Stage 3: If the loan is in default, it is transferred to stage 3. A facil- \u00a0
ity becomes credit-impaired when one or more events that have a \u00a0
detrimental impact on the estimated future cash flows have oc- \u00a0
curred. This includes observable data about (a) significant financial \u00a0
difficulty of the borrower; (b) a breach of contract, such as a default \u00a0
or past due event; (c) the borrower, for reasons relating to the bor- \u00a0
rower\u2019s financial difficulty, is granted a concession; (d) it is proba- \u00a0
ble that the borrower will enter into bankruptcy. Credit-impaired fa- \u00a0
cilities are placed in Realkredit Danmark\u2019s rating category 11. For \u00a0
rating category 11, all exposures are classified as stage 3. The \u00a0
Realkredit Danmark Group uses the option to continue to recognise \u00a0
interest income on mortgage loans measured at fair value on the ba- \u00a0
sis of the contractual interest rates. \u00a0
A definition of default is used in the measurement of expected \u00a0
credit losses and the assessment to determine movements between \u00a0
stages. The definition of default is also used for internal credit risk \u00a0
management and capital adequacy purposes. To support a more har- \u00a0
monised approach regarding the application of the definition of de- \u00a0
fault, the European Banking Authority (EBA) issued the following \u00a0
products that guide the application of the definition of default: the \u00a0
Guidelines on the application of the definition of default, \u00a0
EBA/GL/2016/07 and the Regulatory Technical Standards (RTS) \u00a0
on the materiality threshold for credit obligations past due, \u00a0
EBA/RTS/2016/06. \u00a0
The Group\u2019s definition of default for accounting purposes aligns \u00a0
with the regulatory purposes. All exposures that are considered de- \u00a0
fault are also considered Stage 3 exposures. This is applicable for \u00a0
exposures that are default due to either the 90 days past due default \u00a0
trigger or the unlikeliness to pay default triggers. \u00a0
Mortgage loans and Issued mortgage bonds at fair value \u00a0
At initial recognition, mortgage loans and issued mortgage bonds \u00a0
are measured at fair value, excluding transaction costs. Subse- \u00a0
quently, these financial instruments are measured at fair value \u00a0
through profit or loss. \u00a0
The fair value of the issued mortgage bonds will usually equal the \u00a0
quoted market price. However, a small part of the issued bonds are \u00a0
illiquid, and the fair value of these bonds is calculated on the basis \u00a0
of a discounted cash flow valuation model. \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on the borrowers. The IFRS 13 estimate of \u00a0
the fair value of the expected credit losses is calculated on the basis \u00a0
of the IFRS 9 model for calculating impairment of losses on loans \u00a0
at amortised cost: expected credit losses, including the classifica- \u00a0
tion of loans between stages 1, 2 and 3: \u00a0
Stage 1: If the credit risk has not increased significantly, the impair- \u00a0
ment equals the expected credit losses resulting from default events \u00a0
The expected credit loss is calculated for all individual loans as a \u00a0
function of the probability of default (PD), the exposure at default \u00a0
(EaD) and the loss given default (LGD). \u00a0
The lifetime expected credit losses cover the expected remaining \u00a0
lifetime of the loan. For most loans, the expected lifetime is limited \u00a0
to the remaining contractual maturity and adjusted for expected pre- \u00a0
payment. For exposures with weak credit quality, the likelihood of \u00a0
prepayment is not included. \u00a0
The forward-looking elements of the calculation reflect the current \u00a0
expectations of senior management. The Danske Bank Group\u2019s inde- \u00a0
pendent macroeconomic research unit creates three macroeconomic \u00a0
scenarios (base case, upside and downside), including an assessment \u00a0
of the probability for each scenario. The purpose of using multiple \u00a0
scenarios is to model the non-linear impact of assumptions about \u00a0
macroeconomic factors on the expected credit losses. Afterwards \u00a0
there is a process to ensure review and sign-off of the scenarios. \u00a0
Management\u2019s approval of scenarios can include adjustments to the \u00a0
scenarios or to which scenarios are used, the assigned probability \u00a0
weighting and post-model adjustments to cover the outlook for par- \u00a0
ticular high-risk portfolios, which are not provided by the Group\u2019s \u00a0
macroeconomists. The approved scenarios are used to calculate the \u00a0
impairment levels. Technically, the forward-looking information is \u00a0
used directly in the PDs through an estimate of general changes to \u00a0
the PDs and the LGDs in the expected credit loss calculation. How- \u00a0
ever, for significant exposures in stage 3, an individual assessment \u00a0
of the scenarios, changes to expected credit losses and the related \u00a0
probabilities are performed by senior credit officers. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. The base case is \u00a0
based on the macroeconomic outlook as disclosed in the Danske \u00a0
Bank Group\u2019s Nordic Outlook reports. \u00a0
In addition, a collective assessment determines the need for further \u00a0
adjustments to reflect other components in the fair value measure- \u00a0
ment, such as an assessment of an investor\u2019s risk premium, compen- \u00a0
sation for administrative costs related to the loans and the possibility \u00a0
of increasing the credit margin if the credit risk increases. This as- \u00a0
sessment also takes into consideration the fact that initial recogni- \u00a0
tion of 12-month expected credit losses is not in accordance with \u00a0
fair value, and the fact that the expected credit losses during the life- \u00a0
time of the asset should be included in the assessment even if the \u00a0
credit risk has not increased significantly. \u00a0
Loans considered uncollectible are written off. Write-offs are deb- \u00a0
ited to the allowance account. Loans are written off once the usual \u00a0
collection procedure has been completed and the loss on the individ- \u00a0
ual loan can be calculated. \u00a0
Due from credit institutions and central banks and Loans and \u00a0
other amounts due at amortised cost \u00a0
Amounts due from credit institutions and central banks comprise \u00a0
amounts due from other credit institutions and time deposits with \u00a0
central banks. Reverse transactions (purchases of securities from \u00a0
credit institutions and central banks that the Group agrees to resell \u00a0
at a later date) are recognised as Amounts due from credit institu- \u00a0
tions and central banks with collateral in the securities received. Re- \u00a0
verse transactions are made on standard terms and conditions. \u00a0
These financial assets are held for the purpose of achieving the con- \u00a0
tractual return until expiry and have contractual cash flows reflect- \u00a0
ing repayment of principal and interest thereon. Loans and other \u00a0
amounts due are therefore carried at amortised cost and consist of \u00a0
mortgage payments due and other outlays relating to mortgage loans \u00a0
as well as claims against individual borrowers and reserve fund \u00a0
mortgages, etc. \u00a0
Impairments are made for expected credit losses on the basis of a \u00a0
classification of the loans into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for loans in stage 1 and the \u00a0
present value of lifetime expected credit losses for loans in stages 2 \u00a0
and 3, cf. the description above in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. \u00a0
Reporting on the ESEF Regulation \u00a0
The Commission\u2019s Delegated Regulation (EU) 2019/815 on the Eu- \u00a0
ropean Single Electronic Format (ESEF Regulation) requires a spe- \u00a0
cial digital reporting format for annual report for publicly listed en- \u00a0
tities. The ESEF Regulation includes requirements related to the \u00a0
preparation of the annual report in XHTML format and iXBRL tag- \u00a0
ging of the consolidated financial statements key elements including \u00a0
income statement, statement of comprehensive income, balance \u00a0
sheet, statement of capital, cash flow statement and notes. \u00a0
Realkredit Danmark A/S\u2019 iXBRL tagging is prepared in accordance \u00a0
to the ESEF taxonomy which is included in the appendices of the \u00a0
ESEF Regulation and is developed based on the IFRS taxonomy \u00a0
that is published by IFRS Foundation. For the annual report for \u00a0
2024 the ESEF Taxonomy for 2022 has been applied. \u00a0
The account balances in the consolidated financial statements are \u00a0
XBRL tagged to the elements in the European Single Electronic Re- \u00a0
porting (ESEF) Regulation that are assessed to correspond to the \u00a0
content of the account balances. For account balances that are as- \u00a0
sessed not to be covered by the account balances defined in the \u00a0
ESEF taxonomy, Realkredit Danmark A/S has incorporated entity \u00a0
specific extensions to the taxonomy. These extensions are \u2013 except \u00a0
subtotals \u2013 embedded in the elements in the ESEF taxonomy. \u00a0
Annual report 2024 comprises \u2013 in accordance with the require- \u00a0
ments of the ESEF Regulation \u2013 a zip-file RealkreditDanmark- \u00a0
2024-12-31-0-en.zip, that includes an XHTML-file, that can be \u00a0
opened with standard web browsers and a number of technical \u00a0
XBRL files that make automated extracts of the incorporated XBRL \u00a0
data possible. \u00a0
Standards and interpretations not yet in force \u00a0
The International Accounting Standards Board (IASB) has issued \u00a0
two new international accounting standards (IFRS 18, Presentation \u00a0
and disclosure in financial statements, and IFRS 19, Subsidiaries \u00a0
without public accountability) and amendments to existing interna- \u00a0
tional accounting standards (IFRS 7, IFRS 9 and IAS 21) that have \u00a0
not yet come into force. \u00a0
IFRS 18 replaces IAS 1, Presentation of financial statements, with \u00a0
particular focus on the presentation of the Income statement, and the \u00a0
introduction of Management performance measures. At time of writ- \u00a0
ing, it is being assessed how IFRS 18 will impact the presentation of \u00a0
the Income statement, however IFRS 18 will not impact sharehold- \u00a0
ers equity. IFRS 18 is effective for annual reports beginning on or \u00a0
after 1 January 2027. \u00a0
IFRS 19 and the amendments to other standards are not expected to \u00a0
have any material impact on the Group\u2019s financial statements. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfOtherAccountingPoliciesRelevantToUnderstandingOfFinancialStatements",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1767": {
"value": "that are possible within the next 12 months, see however below on \u00a0
the collective assessment of the need for further adjustments. \u00a0
Stage 2: If the credit risk has increased significantly, the loan is \u00a0
transferred to stage 2 and an impairment charge equal to the life- \u00a0
time expected credit losses is recognised. A significant credit risk \u00a0
increase is considered to occur when the following increase in the \u00a0
probability of default (PD) is observed: \u00a0
\u2022
For loans originated below 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of at least 0.5 of a percentage point \u00a0
since origination and a doubling of the loan\u2019s lifetime PD \u00a0
since origination \u00a0
\u2022
For loans originated above 1% in PD: An increase in the \u00a0
loan\u2019s 12-month PD of 2 percentage points since origination \u00a0
or a doubling of the loan\u2019s lifetime PD since origination \u00a0
\u2022
Further, loans that are more than 30 days past due are moved \u00a0
from stage 1 to stage 2. Finally, customers subject to forbear- \u00a0
ance measures are placed in stage 2, if the Group, in the most \u00a0
likely outcome, expects no loss or the customers are in the 2- \u00a0
year probation period for performing forborne exposures. \u00a0
Stage 3: If the loan is in default, it is transferred to stage 3. A facil- \u00a0
ity becomes credit-impaired when one or more events that have a \u00a0
detrimental impact on the estimated future cash flows have oc- \u00a0
curred. This includes observable data about (a) significant financial \u00a0
difficulty of the borrower; (b) a breach of contract, such as a default \u00a0
or past due event; (c) the borrower, for reasons relating to the bor- \u00a0
rower\u2019s financial difficulty, is granted a concession; (d) it is proba- \u00a0
ble that the borrower will enter into bankruptcy. Credit-impaired fa- \u00a0
cilities are placed in Realkredit Danmark\u2019s rating category 11. For \u00a0
rating category 11, all exposures are classified as stage 3. The \u00a0
Realkredit Danmark Group uses the option to continue to recognise \u00a0
interest income on mortgage loans measured at fair value on the ba- \u00a0
sis of the contractual interest rates. \u00a0
A definition of default is used in the measurement of expected \u00a0
credit losses and the assessment to determine movements between \u00a0
stages. The definition of default is also used for internal credit risk \u00a0
management and capital adequacy purposes. To support a more har- \u00a0
monised approach regarding the application of the definition of de- \u00a0
fault, the European Banking Authority (EBA) issued the following \u00a0
products that guide the application of the definition of default: the \u00a0
Guidelines on the application of the definition of default, \u00a0
EBA/GL/2016/07 and the Regulatory Technical Standards (RTS) \u00a0
on the materiality threshold for credit obligations past due, \u00a0
EBA/RTS/2016/06. \u00a0
The Group\u2019s definition of default for accounting purposes aligns \u00a0
with the regulatory purposes. All exposures that are considered de- \u00a0
fault are also considered Stage 3 exposures. This is applicable for \u00a0
exposures that are default due to either the 90 days past due default \u00a0
trigger or the unlikeliness to pay default triggers. \u00a0
Bonds at amortised cost \u00a0
Realkredit Danmark has a bond portfolio held for the purpose of \u00a0
generating a known return until maturity. The bonds are measured \u00a0
at amortised cost. Interest rate risk is not hedged. Impairment \u00a0
charges are made for expected credit losses on the basis of a classi- \u00a0
fication of the bonds into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for bonds in stage 1 and the \u00a0
present value of lifetime expected credit losses for bonds in stages 2 \u00a0
and 3, cf. the description below in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. For calculating the present \u00a0
value of expected credit losses for discounting purposes, the origi- \u00a0
nal effective interest rate is used instead of the current interest rate. \u00a0
The fair value of mortgage loans is based on the fair value of the \u00a0
underlying issued mortgage bonds adjusted for changes in the fair \u00a0
value of the credit risk on the borrowers. The IFRS 13 estimate of \u00a0
the fair value of the expected credit losses is calculated on the basis \u00a0
of the IFRS 9 model for calculating impairment of losses on loans \u00a0
at amortised cost: expected credit losses, including the classifica- \u00a0
tion of loans between stages 1, 2 and 3: \u00a0
Stage 1: If the credit risk has not increased significantly, the impair- \u00a0
ment equals the expected credit losses resulting from default events \u00a0
The expected credit loss is calculated for all individual loans as a \u00a0
function of the probability of default (PD), the exposure at default \u00a0
(EaD) and the loss given default (LGD). \u00a0
The lifetime expected credit losses cover the expected remaining \u00a0
lifetime of the loan. For most loans, the expected lifetime is limited \u00a0
to the remaining contractual maturity and adjusted for expected pre- \u00a0
payment. For exposures with weak credit quality, the likelihood of \u00a0
prepayment is not included. \u00a0
The forward-looking elements of the calculation reflect the current \u00a0
expectations of senior management. The Danske Bank Group\u2019s inde- \u00a0
pendent macroeconomic research unit creates three macroeconomic \u00a0
scenarios (base case, upside and downside), including an assessment \u00a0
of the probability for each scenario. The purpose of using multiple \u00a0
scenarios is to model the non-linear impact of assumptions about \u00a0
macroeconomic factors on the expected credit losses. Afterwards \u00a0
there is a process to ensure review and sign-off of the scenarios. \u00a0
Management\u2019s approval of scenarios can include adjustments to the \u00a0
scenarios or to which scenarios are used, the assigned probability \u00a0
weighting and post-model adjustments to cover the outlook for par- \u00a0
ticular high-risk portfolios, which are not provided by the Group\u2019s \u00a0
macroeconomists. The approved scenarios are used to calculate the \u00a0
impairment levels. Technically, the forward-looking information is \u00a0
used directly in the PDs through an estimate of general changes to \u00a0
the PDs and the LGDs in the expected credit loss calculation. How- \u00a0
ever, for significant exposures in stage 3, an individual assessment \u00a0
of the scenarios, changes to expected credit losses and the related \u00a0
probabilities are performed by senior credit officers. \u00a0
The forward-looking information is based on a three-year forecast \u00a0
period converging to steady state in year seven. The base case is \u00a0
based on the macroeconomic outlook as disclosed in the Danske \u00a0
Bank Group\u2019s Nordic Outlook reports. \u00a0
In addition, a collective assessment determines the need for further \u00a0
adjustments to reflect other components in the fair value measure- \u00a0
ment, such as an assessment of an investor\u2019s risk premium, compen- \u00a0
sation for administrative costs related to the loans and the possibility \u00a0
of increasing the credit margin if the credit risk increases. This as- \u00a0
sessment also takes into consideration the fact that initial recogni- \u00a0
tion of 12-month expected credit losses is not in accordance with \u00a0
fair value, and the fact that the expected credit losses during the life- \u00a0
time of the asset should be included in the assessment even if the \u00a0
credit risk has not increased significantly. \u00a0
Loans considered uncollectible are written off. Write-offs are deb- \u00a0
ited to the allowance account. Loans are written off once the usual \u00a0
collection procedure has been completed and the loss on the individ- \u00a0
ual loan can be calculated. \u00a0
Due from credit institutions and central banks and Loans and \u00a0
other amounts due at amortised cost \u00a0
Amounts due from credit institutions and central banks comprise \u00a0
amounts due from other credit institutions and time deposits with \u00a0
central banks. Reverse transactions (purchases of securities from \u00a0
credit institutions and central banks that the Group agrees to resell \u00a0
at a later date) are recognised as Amounts due from credit institu- \u00a0
tions and central banks with collateral in the securities received. Re- \u00a0
verse transactions are made on standard terms and conditions. \u00a0
These financial assets are held for the purpose of achieving the con- \u00a0
tractual return until expiry and have contractual cash flows reflect- \u00a0
ing repayment of principal and interest thereon. Loans and other \u00a0
amounts due are therefore carried at amortised cost and consist of \u00a0
mortgage payments due and other outlays relating to mortgage loans \u00a0
as well as claims against individual borrowers and reserve fund \u00a0
mortgages, etc. \u00a0
Impairments are made for expected credit losses on the basis of a \u00a0
classification of the loans into stages 1, 2 and 3, and the impairment \u00a0
equals 12-month expected credit losses for loans in stage 1 and the \u00a0
present value of lifetime expected credit losses for loans in stages 2 \u00a0
and 3, cf. the description above in the section \u2018Mortgage loans and \u00a0
Issued mortgage bonds at fair value\u2019. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfFinancialAssetsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1793": {
"value": "Assets temporarily taken over \u00a0
Assets temporarily taken over include tangible assets, which accord- \u00a0
ing to a publicly announced plan, the Group expects to sell within \u00a0
twelve months. Such assets are measured at the lower of their carry- \u00a0
ing amount at the time of classification and their fair value less ex- \u00a0
pected costs to sell and are no longer depreciated. \u00a0
Properties taken over in connection with non-performing loans and \u00a0
which are likely to be sold within 12 months are presented under \u00a0
Assets temporarily taken over. Subsequent fair value adjustments \u00a0
and gains or losses on disposal are recognised under Loan impair- \u00a0
ment charges. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1794": {
"value": "Assets temporarily taken over \u00a0
Assets temporarily taken over include tangible assets, which accord- \u00a0
ing to a publicly announced plan, the Group expects to sell within \u00a0
twelve months. Such assets are measured at the lower of their carry- \u00a0
ing amount at the time of classification and their fair value less ex- \u00a0
pected costs to sell and are no longer depreciated. \u00a0
Properties taken over in connection with non-performing loans and \u00a0
which are likely to be sold within 12 months are presented under \u00a0
Assets temporarily taken over. Subsequent fair value adjustments \u00a0
and gains or losses on disposal are recognised under Loan impair- \u00a0
ment charges. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleAndDiscontinuedOperationsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1795": {
"value": "Other assets \u00a0
Pension assets \u00a0
The Group\u2019s pension obligations generally consist of defined contri- \u00a0
bution pension plans for its staff. Under the defined contribution \u00a0
plans, the Group pays regular contributions to insurance companies \u00a0
and other institutions. Such payments are expensed as they are \u00a0
earned by the staff, and the obligations under the plans are taken \u00a0
over by the insurance companies and other institutions. \u00a0
Furthermore, the Group operates a defined benefit plan maintained \u00a0
under Kreditforeningen Danmarks Pensionsafviklingskasse (pension \u00a0
fund). Realkredit Danmark A/S guarantees future payment of a de- \u00a0
fined benefit from the time of retirement. \u00a0
The pension fund and Realkredit Danmark\u2019s defined benefit plan \u00a0
have not accepted new members since 1971, so no pension contribu- \u00a0
tions are made. Accordingly, there are no service costs. \u00a0
The amounts payable are recognised on the basis of an actuarial \u00a0
computation of the present value of expected benefits. The present \u00a0
value is calculated on the basis of expected future trends in salaries \u00a0
and interest rates, time of retirement, mortality rate and other fac- \u00a0
tors. \u00a0
Staff costs and administrative expenses \u00a0
Staff costs \u00a0
Salaries and other remuneration that the Group expects to pay for \u00a0
work carried out during the year are expensed under Staff costs and \u00a0
administrative expenses. This item comprises salaries, bonuses, ex- \u00a0
penses for share-based payments, holiday allowances, anniversary \u00a0
bonuses, pension costs and other remuneration. Performance-based \u00a0
pay is expensed as it is earned. \u00a0
Pension obligations \u00a0
The Group\u2019s contributions to defined contribution pension plans are \u00a0
recognised in the income statement as they are earned by the em- \u00a0
ployees. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1805": {
"value": "Deferred tax assets/Deferred tax liabilities \u00a0
Deferred tax on all temporary differences between the tax base of \u00a0
assets and liabilities and their carrying amounts is accounted for in \u00a0
accordance with the balance sheet liability method. Deferred tax is \u00a0
recognised under Deferred tax assets or Deferred tax liabilities. \u00a0
Deferred tax is measured on the basis of the tax regulations and \u00a0
rates that, according to the rules in force at the balance sheet date, \u00a0
will apply at the time the deferred tax is expected to crystallise as \u00a0
current tax. Changes in deferred tax as a result of adopted changes \u00a0
in tax rates are recognised in the income statement based on ex- \u00a0
pected cash flows. \u00a0
Current tax assets/Current tax liabilities \u00a0
Current tax assets and liabilities are recognised in the balance sheet \u00a0
as the estimated tax charge on the profit for the year adjusted for \u00a0
prepaid tax and prior-year tax payables and receivables. \u00a0
Tax assets and liabilities are offset if the Group has a legally en- \u00a0
forceable right to set off such assets and liabilities and intends either \u00a0
to settle the assets and liabilities on a net basis or to realise the as- \u00a0
sets and settle the liabilities simultaneously. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1806": {
"value": "Proposed dividends \u00a0
The Board of Directors\u2019 proposal for dividends for the year submit- \u00a0
ted to the general meeting is included as a separate reserve in share- \u00a0
holders\u2019 equity. The dividends are recognised as a liability when the \u00a0
general meeting has adopted the proposal. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForDividendsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1807": {
"value": "INCOME STATEMENT \u00a0
Interest income and expense \u00a0
Interest income and expenses include interest and administration \u00a0
margins on financial instruments measured at fair value. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceCostsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1808": {
"value": "INCOME STATEMENT \u00a0
Interest income and expense \u00a0
Interest income and expenses include interest and administration \u00a0
margins on financial instruments measured at fair value. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFinanceIncomeAndCostsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1809": {
"value": "INCOME STATEMENT \u00a0
Interest income and expense \u00a0
Interest income and expenses include interest and administration \u00a0
margins on financial instruments measured at fair value. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1810": {
"value": "Fees and commission income and expense \u00a0
Income, including origination fees, from mortgage loans carried at \u00a0
fair value is recognised when the transaction is completed. \u00a0
Income and expenses for services provided over a period of time are \u00a0
accrued over the period. Transaction fees are recognised on comple- \u00a0
tion of the individual transaction. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFeeAndCommissionIncomeAndExpenseExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1811": {
"value": "Fees and commission income and expense \u00a0
Income, including origination fees, from mortgage loans carried at \u00a0
fair value is recognised when the transaction is completed. \u00a0
Income and expenses for services provided over a period of time are \u00a0
accrued over the period. Transaction fees are recognised on comple- \u00a0
tion of the individual transaction. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1812": {
"value": "Value adjustments \u00a0
Value adjustments comprise realised and unrealised capital gains \u00a0
and losses on bonds at fair value, mortgage loans, issued mortgage \u00a0
bonds and fixed-price agreements as well as exchange rate adjust- \u00a0
ments. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1813": {
"value": "Staff costs and administrative expenses \u00a0
Staff costs \u00a0
Salaries and other remuneration that the Group expects to pay for \u00a0
work carried out during the year are expensed under Staff costs and \u00a0
administrative expenses. This item comprises salaries, bonuses, ex- \u00a0
penses for share-based payments, holiday allowances, anniversary \u00a0
bonuses, pension costs and other remuneration. Performance-based \u00a0
pay is expensed as it is earned. \u00a0
Performance-based pay and share-based payments \u00a0
Performance-based pay is expensed as it is earned. Part of the per- \u00a0
formance-based pay for the year is paid in the form of conditional \u00a0
shares issued by Danske Bank. Rights to shares under the condi- \u00a0
tional share programme vest up to five years after being granted \u00a0
provided that the employee, with the exception of retirement, has \u00a0
not resigned from the Group. Retirement is not considered as resig- \u00a0
nation. \u00a0
The fair value of share-based payments at the grant date is expensed \u00a0
over the service period that unconditionally entitles the employee to \u00a0
the payment. The intrinsic value of the share-based payments is ex- \u00a0
pensed in the year in which the share-based payments are earned, \u00a0
whereas the time value (if any) is accrued over the remaining ser- \u00a0
vice period. Expenses are set off against shareholders\u2019 equity. The \u00a0
increase in shareholders\u2019 equity is eliminated by set-off against an \u00a0
interim account with Danske Bank A/S. Subsequent changes in the \u00a0
fair value are not recognised in the income statement. \u00a0
Pension obligations \u00a0
The Group\u2019s contributions to defined contribution pension plans are \u00a0
recognised in the income statement as they are earned by the em- \u00a0
ployees. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1815": {
"value": "Performance-based pay and share-based payments \u00a0
Performance-based pay is expensed as it is earned. Part of the per- \u00a0
formance-based pay for the year is paid in the form of conditional \u00a0
shares issued by Danske Bank. Rights to shares under the condi- \u00a0
tional share programme vest up to five years after being granted \u00a0
provided that the employee, with the exception of retirement, has \u00a0
not resigned from the Group. Retirement is not considered as resig- \u00a0
nation. \u00a0
The fair value of share-based payments at the grant date is expensed \u00a0
over the service period that unconditionally entitles the employee to \u00a0
the payment. The intrinsic value of the share-based payments is ex- \u00a0
pensed in the year in which the share-based payments are earned, \u00a0
whereas the time value (if any) is accrued over the remaining ser- \u00a0
vice period. Expenses are set off against shareholders\u2019 equity. The \u00a0
increase in shareholders\u2019 equity is eliminated by set-off against an \u00a0
interim account with Danske Bank A/S. Subsequent changes in the \u00a0
fair value are not recognised in the income statement. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1817": {
"value": "Loan impairment charges \u00a0
Loan impairment charges include the fair value adjustment of the \u00a0
credit risk on mortgage loans as well as losses on and impairment \u00a0
charges for other loans and amounts due. \u00a0
The item also includes impairment charges and realised gains and \u00a0
losses on acquired assets if the assets qualify as assets temporarily \u00a0
taken over. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1826": {
"value": "Tax \u00a0
Calculated current and deferred tax on the profit for the year and ad- \u00a0
justments of tax charges for previous years are recognised in the in- \u00a0
come statement. Tax on items recognised in Other comprehensive \u00a0
income is recognised in Other comprehensive income. Similarly, tax \u00a0
on items recognised in shareholders\u2019 equity is recognised in Share- \u00a0
holders\u2019 equity. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTaxesOtherThanIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1827": {
"value": "Tax \u00a0
Calculated current and deferred tax on the profit for the year and ad- \u00a0
justments of tax charges for previous years are recognised in the in- \u00a0
come statement. Tax on items recognised in Other comprehensive \u00a0
income is recognised in Other comprehensive income. Similarly, tax \u00a0
on items recognised in shareholders\u2019 equity is recognised in Share- \u00a0
holders\u2019 equity. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1828": {
"value": "Cash flow statement \u00a0
The cash flow statement is prepared according to the indirect \u00a0
method. The statement is based on profit for the year before tax and \u00a0
shows the consolidated cash flows from operating, investing and fi- \u00a0
nancing activities and the increase or decrease in cash and cash \u00a0
equivalents during the year. \u00a0
Cash and cash equivalents consists of Cash in hand and demand de- \u00a0
posits with central banks and amounts due from credit institutions \u00a0
and central banks with an original maturity shorter than three \u00a0
months. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1829": {
"value": "Cash flow statement \u00a0
The cash flow statement is prepared according to the indirect \u00a0
method. The statement is based on profit for the year before tax and \u00a0
shows the consolidated cash flows from operating, investing and fi- \u00a0
nancing activities and the increase or decrease in cash and cash \u00a0
equivalents during the year. \u00a0
Cash and cash equivalents consists of Cash in hand and demand de- \u00a0
posits with central banks and amounts due from credit institutions \u00a0
and central banks with an original maturity shorter than three \u00a0
months. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyToDetermineComponentsOfCashAndCashEquivalents",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1832": {
"value": "Holdings in subsidiary undertakings are measured using the equity \u00a0
method. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2033": {
"value": "Profit broken down by activity \u00a0
Realkredit Danmark Group \u00a0
Mortgage \u00a0
Own \u00a0
Reclassi- \u00a0
2024 \u00a0
finance \u00a0
holdings \u00a0
Highlights \u00a0
fication \u00a0
IFRS \u00a0
Administration margin \u00a0
5,543 \u00a0
-
5,543 \u00a0
-
5,543 \u00a0
Net interest income \u00a0
2,103 \u00a0
-558 \u00a0
1,545 \u00a0
-631 \u00a0
914 \u00a0
Net fee income \u00a0
21 \u00a0
-
21 \u00a0
-
21 \u00a0
Income from investment portfolios \u00a0
11 \u00a0
85 \u00a0
96 \u00a0
-96 \u00a0
-
Value adjustments \u00a0
-
-
-
727 \u00a0
727 \u00a0
Other income \u00a0
95 \u00a0
-
95 \u00a0
-
95 \u00a0
Total income \u00a0
7,773 \u00a0
-473 \u00a0
7,300 \u00a0
-
7,300 \u00a0
Expenses \u00a0
1,007 \u00a0
3
1,010 \u00a0
-
1,010 \u00a0
Profit before loan impairment charges \u00a0
6,766 \u00a0
-476 \u00a0
6,290 \u00a0
-
6,290 \u00a0
Loan impairment charges \u00a0
333 \u00a0
-
333 \u00a0
-
333 \u00a0
Profit before tax \u00a0
6,433 \u00a0
-476 \u00a0
5,957 \u00a0
-
5,957 \u00a0
Tax \u00a0
1,533 \u00a0
-
1,533 \u00a0
Net profit for the year \u00a0
4,424 \u00a0
-
4,424 \u00a0
Total assets \u00a0
772,787 \u00a0
54,236 \u00a0
827,023 \u00a0
-
827,023 \u00a0
Mortgage \u00a0
Own \u00a0
Reclassi- \u00a0
2023 \u00a0
finance \u00a0
holdings \u00a0
Highlights \u00a0
fication \u00a0
IFRS \u00a0
Administration margin \u00a0
5,593 \u00a0
-
5,593 \u00a0
-
5,593 \u00a0
Net interest income \u00a0
1,796 \u00a0
-682 \u00a0
1,114 \u00a0
-450 \u00a0
664 \u00a0
Net fee income \u00a0
-70 \u00a0
-
-70 \u00a0
-
-70 \u00a0
Income from investment portfolios \u00a0
9
174 \u00a0
183 \u00a0
-183 \u00a0
-
Value adjustments \u00a0
-
-
-
633 \u00a0
633 \u00a0
Other income \u00a0
84 \u00a0
-
84 \u00a0
-
84 \u00a0
Total income \u00a0
7,412 \u00a0
-508 \u00a0
6,904 \u00a0
-
6,904 \u00a0
Expenses \u00a0
1,051 \u00a0
4
1,055 \u00a0
-
1,055 \u00a0
Profit before loan impairment charges \u00a0
6,361 \u00a0
-512 \u00a0
5,849 \u00a0
-
5,849 \u00a0
Loan impairment charges \u00a0
-114 \u00a0
-
-114 \u00a0
-
-114 \u00a0
Profit before tax \u00a0
6,475 \u00a0
-512 \u00a0
5,963 \u00a0
-
5,963 \u00a0
Tax \u00a0
1,569 \u00a0
-
1,569 \u00a0
Net profit for the year \u00a0
4,394 \u00a0
-
4,394 \u00a0
Total assets \u00a0
765,705 \u00a0
50,558 \u00a0
816,263 \u00a0
-
816,263 \u00a0
Mortgage finance encompasses property financing services provided in Denmark, Sweden and Norway to personal and business customers. The \u00a0
mediation of property financing services is made through Danske Bank\u2019s branch network and finance centres and through Corporate & Institu- \u00a0
tional Mortgage Finance at Realkredit Danmark. The segment also includes mediation of real estate transactions in Denmark offered through the \u00a0
\u201chome\u201d real-estate agency chain. Own holdings comprise the net return on the part of the securities portfolio not relating to the mortgage finance \u00a0
business. Under the Danish Financial Business Act, at least 60% of the total capital of a mortgage credit institution must be invested in bonds, etc. \u00a0
Realkredit Danmark has no branch offices or subsidiaries outside Denmark. \u00a0
IFRSs require disclosure if 10% or more of the income derives from a single customer. The Realkredit Danmark Group has no such customers. \u00a0
2
Profit broken down by activity \u00a0
cont\u00b4d \u00a0
Alternative performance measures \u00a0
Financial highlights and reporting for the two business segments correspond to the information incorporated in the Management\u2019s report, which is \u00a0
regularly sent to management. The presentation in the financial highlights deviates in certain areas from the financial statements prepared under IFRS \u00a0
and therefore represents alternative performance measures. There are generally no adjusting items, which means that net profit is the same in the \u00a0
financial highlights and in the IFRS financial statements. \u00a0
The reclassification column shows the reconciliation between the presentation in the highlights and in the IFRS financial statements. The difference \u00a0
between the presentation in the financial highlights and in the IFRS financial statements is due to the fact that income from trading activities in mort- \u00a0
gage credit activities and income from own holdings, except for interest on bonds at amortised cost, is carried in the consolidated highlights as in- \u00a0
come from investment portfolios, while in the income statement according to IFRS it is carried under net interest income, value adjustments, etc. \u00a0
As the distribution of income between the various income line items in the IFRS income statements can vary considerably from one year to the next, \u00a0
depending on the underlying transactions and market conditions, the net presentation in the financial highlights is considered to better reflect income \u00a0
in those areas. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEntitysReportableSegmentsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2034": {
"value": "Fee and commission income and other operating income \u00a0
Fee and commission income relates to mortgage credit activities and primarily concern income from the establishment and change of loans. These are \u00a0
recognised at the date of transaction as the loans are measured at fair value through profit or loss. In the business segment reporting and internal manage- \u00a0
ment, fees are presented as net figures, i.e. fee income and fee expenses are offset. \u00a0
Other income includes franchise income in the amount of DKK 106 million, which is recognised over the term of the franchise agreement (2023: \u00a0
DKK 95 million). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFeeAndCommissionIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2035": {
"value": "Fee and commission income and other operating income \u00a0
Fee and commission income relates to mortgage credit activities and primarily concern income from the establishment and change of loans. These are \u00a0
recognised at the date of transaction as the loans are measured at fair value through profit or loss. In the business segment reporting and internal manage- \u00a0
ment, fees are presented as net figures, i.e. fee income and fee expenses are offset. \u00a0
Other income includes franchise income in the amount of DKK 106 million, which is recognised over the term of the franchise agreement (2023: \u00a0
DKK 95 million). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRevenueExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2036": {
"value": "Fee and commission income and other operating income \u00a0
Fee and commission income relates to mortgage credit activities and primarily concern income from the establishment and change of loans. These are \u00a0
recognised at the date of transaction as the loans are measured at fair value through profit or loss. In the business segment reporting and internal manage- \u00a0
ment, fees are presented as net figures, i.e. fee income and fee expenses are offset. \u00a0
Other income includes franchise income in the amount of DKK 106 million, which is recognised over the term of the franchise agreement (2023: \u00a0
DKK 95 million). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherOperatingIncomeExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2067": {
"value": "Interest income \u00a0
Reverse transactions with credit institutions and central banks \u00a0
177 \u00a0
395 \u00a0
177 \u00a0
395 \u00a0
Credit institutions and central banks \u00a0
183 \u00a0
114 \u00a0
181 \u00a0
112 \u00a0
Loans and other amounts due \u00a0
16,085 \u00a0
15,805 \u00a0
16,085 \u00a0
15,805 \u00a0
Administration margin \u00a0
5,543 \u00a0
5,593 \u00a0
5,543 \u00a0
5,593 \u00a0
Bonds at fair value \u00a0
190 \u00a0
148 \u00a0
190 \u00a0
148 \u00a0
Bonds at amortised cost \u00a0
505 \u00a0
261 \u00a0
505 \u00a0
261 \u00a0
Derivatives \u00a0
Interest rate contracts \u00a0
54 \u00a0
137 \u00a0
54 \u00a0
137 \u00a0
Other interest income \u00a0
17 \u00a0
5
17 \u00a0
4
Total \u00a0
22,754 \u00a0
22,458 \u00a0
22,752 \u00a0
22,455 \u00a0
Interest income derived from \u00a0
Assets at fair value \u00a0
21,872 \u00a0
21,683 \u00a0
21,872 \u00a0
21,683 \u00a0
Assets at amortised cost \u00a0
882 \u00a0
775 \u00a0
880 \u00a0
772 \u00a0
Total \u00a0
22,754 \u00a0
22,458 \u00a0
22,752 \u00a0
22,455 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2068": {
"value": "Interest income \u00a0
Reverse transactions with credit institutions and central banks \u00a0
177 \u00a0
395 \u00a0
177 \u00a0
395 \u00a0
Credit institutions and central banks \u00a0
183 \u00a0
114 \u00a0
181 \u00a0
112 \u00a0
Loans and other amounts due \u00a0
16,085 \u00a0
15,805 \u00a0
16,085 \u00a0
15,805 \u00a0
Administration margin \u00a0
5,543 \u00a0
5,593 \u00a0
5,543 \u00a0
5,593 \u00a0
Bonds at fair value \u00a0
190 \u00a0
148 \u00a0
190 \u00a0
148 \u00a0
Bonds at amortised cost \u00a0
505 \u00a0
261 \u00a0
505 \u00a0
261 \u00a0
Derivatives \u00a0
Interest rate contracts \u00a0
54 \u00a0
137 \u00a0
54 \u00a0
137 \u00a0
Other interest income \u00a0
17 \u00a0
5
17 \u00a0
4
Total \u00a0
22,754 \u00a0
22,458 \u00a0
22,752 \u00a0
22,455 \u00a0
Interest income derived from \u00a0
Assets at fair value \u00a0
21,872 \u00a0
21,683 \u00a0
21,872 \u00a0
21,683 \u00a0
Assets at amortised cost \u00a0
882 \u00a0
775 \u00a0
880 \u00a0
772 \u00a0
Total \u00a0
22,754 \u00a0
22,458 \u00a0
22,752 \u00a0
22,455 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2069": {
"value": "Interest income \u00a0
Reverse transactions with credit institutions and central banks \u00a0
177 \u00a0
395 \u00a0
177 \u00a0
395 \u00a0
Credit institutions and central banks \u00a0
183 \u00a0
114 \u00a0
181 \u00a0
112 \u00a0
Loans and other amounts due \u00a0
16,085 \u00a0
15,805 \u00a0
16,085 \u00a0
15,805 \u00a0
Administration margin \u00a0
5,543 \u00a0
5,593 \u00a0
5,543 \u00a0
5,593 \u00a0
Bonds at fair value \u00a0
190 \u00a0
148 \u00a0
190 \u00a0
148 \u00a0
Bonds at amortised cost \u00a0
505 \u00a0
261 \u00a0
505 \u00a0
261 \u00a0
Derivatives \u00a0
Interest rate contracts \u00a0
54 \u00a0
137 \u00a0
54 \u00a0
137 \u00a0
Other interest income \u00a0
17 \u00a0
5
17 \u00a0
4
Total \u00a0
22,754 \u00a0
22,458 \u00a0
22,752 \u00a0
22,455 \u00a0
Interest income derived from \u00a0
Assets at fair value \u00a0
21,872 \u00a0
21,683 \u00a0
21,872 \u00a0
21,683 \u00a0
Assets at amortised cost \u00a0
882 \u00a0
775 \u00a0
880 \u00a0
772 \u00a0
Total \u00a0
22,754 \u00a0
22,458 \u00a0
22,752 \u00a0
22,455 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTradingIncomeExpenseExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2070": {
"value": "Interest income \u00a0
Reverse transactions with credit institutions and central banks \u00a0
177 \u00a0
395 \u00a0
177 \u00a0
395 \u00a0
Credit institutions and central banks \u00a0
183 \u00a0
114 \u00a0
181 \u00a0
112 \u00a0
Loans and other amounts due \u00a0
16,085 \u00a0
15,805 \u00a0
16,085 \u00a0
15,805 \u00a0
Administration margin \u00a0
5,543 \u00a0
5,593 \u00a0
5,543 \u00a0
5,593 \u00a0
Bonds at fair value \u00a0
190 \u00a0
148 \u00a0
190 \u00a0
148 \u00a0
Bonds at amortised cost \u00a0
505 \u00a0
261 \u00a0
505 \u00a0
261 \u00a0
Derivatives \u00a0
Interest rate contracts \u00a0
54 \u00a0
137 \u00a0
54 \u00a0
137 \u00a0
Other interest income \u00a0
17 \u00a0
5
17 \u00a0
4
Total \u00a0
22,754 \u00a0
22,458 \u00a0
22,752 \u00a0
22,455 \u00a0
Interest income derived from \u00a0
Assets at fair value \u00a0
21,872 \u00a0
21,683 \u00a0
21,872 \u00a0
21,683 \u00a0
Assets at amortised cost \u00a0
882 \u00a0
775 \u00a0
880 \u00a0
772 \u00a0
Total \u00a0
22,754 \u00a0
22,458 \u00a0
22,752 \u00a0
22,455 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceIncomeExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2071": {
"value": "Interest expense \u00a0
Repo transactions with credit institutions and central banks \u00a0
130 \u00a0
354 \u00a0
130 \u00a0
354 \u00a0
Due to credit institutions and central banks \u00a0
91 \u00a0
74 \u00a0
91 \u00a0
74 \u00a0
Issued mortgage bonds etc. \u00a0
16,050 \u00a0
15,753 \u00a0
16,050 \u00a0
15,753 \u00a0
Other interest expense \u00a0
26 \u00a0
20 \u00a0
26 \u00a0
20 \u00a0
Total \u00a0
16,297 \u00a0
16,201 \u00a0
16,297 \u00a0
16,201 \u00a0
Interest expense derived from \u00a0
Liabilities at fair value \u00a0
16,050 \u00a0
15,753 \u00a0
16,050 \u00a0
15,753 \u00a0
Liabilities at amortised cost \u00a0
247 \u00a0
448 \u00a0
247 \u00a0
448 \u00a0
Total \u00a0
16,297 \u00a0
16,201 \u00a0
16,297 \u00a0
16,201 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInterestExpenseExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2072": {
"value": "Interest expense \u00a0
Repo transactions with credit institutions and central banks \u00a0
130 \u00a0
354 \u00a0
130 \u00a0
354 \u00a0
Due to credit institutions and central banks \u00a0
91 \u00a0
74 \u00a0
91 \u00a0
74 \u00a0
Issued mortgage bonds etc. \u00a0
16,050 \u00a0
15,753 \u00a0
16,050 \u00a0
15,753 \u00a0
Other interest expense \u00a0
26 \u00a0
20 \u00a0
26 \u00a0
20 \u00a0
Total \u00a0
16,297 \u00a0
16,201 \u00a0
16,297 \u00a0
16,201 \u00a0
Interest expense derived from \u00a0
Liabilities at fair value \u00a0
16,050 \u00a0
15,753 \u00a0
16,050 \u00a0
15,753 \u00a0
Liabilities at amortised cost \u00a0
247 \u00a0
448 \u00a0
247 \u00a0
448 \u00a0
Total \u00a0
16,297 \u00a0
16,201 \u00a0
16,297 \u00a0
16,201 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinanceCostExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2073": {
"value": "Value adjustments \u00a0
Mortgage loans \u00a0
13,685 \u00a0
24,850 \u00a0
13,685 \u00a0
24,850 \u00a0
Bonds \u00a0
409 \u00a0
284 \u00a0
409 \u00a0
284 \u00a0
Shares \u00a0
-1 \u00a0
-
-
-
Currency \u00a0
-10 \u00a0
8
-10 \u00a0
8
Derivatives \u00a0
-709 \u00a0
106 \u00a0
-709 \u00a0
106 \u00a0
Other assets \u00a0
11 \u00a0
9
11 \u00a0
9
Issued mortgage bonds \u00a0
-12,658 \u00a0
-24,624 \u00a0
-12,658 \u00a0
-24,624 \u00a0
Total \u00a0
727 \u00a0
633 \u00a0
728 \u00a0
633 \u00a0
Value adjustments derived from \u00a0
Assets and liabilities at fair value \u00a0
716 \u00a0
624 \u00a0
717 \u00a0
624 \u00a0
Assets and liabilities at amortised cost \u00a0
11 \u00a0
9
11 \u00a0
9
Total \u00a0
727 \u00a0
633 \u00a0
728 \u00a0
633 \u00a0
Realkredit Danmark Group \u00a0
Financial instruments at fair value \u00a0
Quoted \u00a0
Observable \u00a0
Non-observable \u00a0
2024 \u00a0
prices \u00a0
input \u00a0
input \u00a0
Total \u00a0
Bonds at fair value \u00a0
1,138 \u00a0
23,229 \u00a0
-
24,367 \u00a0
Mortgage loans at fair value \u00a0
-
755,539 \u00a0
-
755,539 \u00a0
Shares \u00a0
-
-
2
2
Derivatives \u00a0
-
22 \u00a0
-
22 \u00a0
Total \u00a0
1,138 \u00a0
778,790 \u00a0
2
779,930 \u00a0
Issued mortgage bonds at fair value \u00a0
762,125 \u00a0
-
-
762,125 \u00a0
Derivatives \u00a0
-
9
-
9
Total \u00a0
762,125 \u00a0
9
-
762,134 \u00a0
2023 \u00a0
Bonds at fair value \u00a0
1,686 \u00a0
15,118 \u00a0
-
16,804 \u00a0
Mortgage loans at fair value \u00a0
-
753,624 \u00a0
-
753,624 \u00a0
Shares \u00a0
-
-
3
3
Derivatives \u00a0
-
29 \u00a0
-
29 \u00a0
Total \u00a0
1,686 \u00a0
768,771 \u00a0
3
770,460 \u00a0
Issued mortgage bonds at fair value \u00a0
756,509 \u00a0
-
-
756,509 \u00a0
Derivatives \u00a0
-
186 \u00a0
-
186 \u00a0
Total \u00a0
756,509 \u00a0
186 \u00a0
-
756,695 \u00a0
Fair value is the amount at which a financial asset can be traded between knowledgeable, willing parties. If an active market exists, \u00a0
Realkredit Danmark uses the quoted price. \u00a0
Developments in the financial markets did not lead to reclassification of bonds between listed prices and observable input in 2024.
\u00a0
Mortgage loans and issued mortgage bonds are recognised at the fair value of the issued mortgage bonds. In accordance with the accounting poli- \u00a0
cies, the fair value of the credit risk on the mortgage loans is adjusted. \u00a0
Valuation techniques are generally used for OTC derivatives and unlisted shares. The most frequently used valuation models include pricing of \u00a0
businesses with future settlement and swap models using present value calculations. The valuation is based substantially on observable input. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2074": {
"value": "Value adjustments \u00a0
Mortgage loans \u00a0
13,685 \u00a0
24,850 \u00a0
13,685 \u00a0
24,850 \u00a0
Bonds \u00a0
409 \u00a0
284 \u00a0
409 \u00a0
284 \u00a0
Shares \u00a0
-1 \u00a0
-
-
-
Currency \u00a0
-10 \u00a0
8
-10 \u00a0
8
Derivatives \u00a0
-709 \u00a0
106 \u00a0
-709 \u00a0
106 \u00a0
Other assets \u00a0
11 \u00a0
9
11 \u00a0
9
Issued mortgage bonds \u00a0
-12,658 \u00a0
-24,624 \u00a0
-12,658 \u00a0
-24,624 \u00a0
Total \u00a0
727 \u00a0
633 \u00a0
728 \u00a0
633 \u00a0
Value adjustments derived from \u00a0
Assets and liabilities at fair value \u00a0
716 \u00a0
624 \u00a0
717 \u00a0
624 \u00a0
Assets and liabilities at amortised cost \u00a0
11 \u00a0
9
11 \u00a0
9
Total \u00a0
727 \u00a0
633 \u00a0
728 \u00a0
633 \u00a0
Bonds at amortised cost \u00a0
Other mortgage bonds \u00a0
26,260 \u00a0
27,032 \u00a0
26,260 \u00a0
27,032 \u00a0
Government bonds \u00a0
1,662 \u00a0
5,741 \u00a0
1,662 \u00a0
5,741 \u00a0
Total \u00a0
27,922 \u00a0
32,773 \u00a0
27,922 \u00a0
32,773 \u00a0
Fair value of hold-to-collect assets \u00a0
27,743 \u00a0
31,952 \u00a0
27,743 \u00a0
31,952 \u00a0
The fair value is based on quoted prices. \u00a0
Of Realkredit Danmark\u2019s bond portfolio, DKK 25.0 billion has a term to maturity of less than five years, while DKK 2.9 billion has a term to \u00a0
maturity of more than five years (2023: DKK 27.0 billion and DKK 5.8 billion). \u00a0
After implementation of IFRS 9, the bonds are recognised in connection with impairment for expected credit losses. \u00a0
The bonds are recognised in stage 1, and the expected credit losses resulting from default events within the next 12 months are insignificant. \u00a0
Realkredit Danmark has placed DKK 27,922 million (end-2023: DKK 32,773 million) of its proprietary portfolio in fixed-rate bonds, which are \u00a0
recognised in the financial statements as hold-to-collect investments and are thus measured at amortised cost. At end-2024, Realkredit Dan- \u00a0
mark\u2019s bonds at amortised cost exceeded fair value by DKK 179 million (end-2023: DKK 821 million). The interest rate risk duration for the \u00a0
portfolio is 3.0 years. As a result, Realkredit Danmark knows the return on the portfolio until maturity, and the fixed-rate hold-to-collect portfo- \u00a0
lio is therefore not considered to entail an interest rate risk that needs to be hedged through derivatives. \u00a0
Total lending \u00a0
Mortgage loans, nominal value \u00a0
794,566 \u00a0
806,154 \u00a0
794,566 \u00a0
806,154 \u00a0
Fair value adjustment of underlying bonds \u00a0
-36,190 \u00a0
-49,874 \u00a0
-36,190 \u00a0
-49,874 \u00a0
Adjustment for credit risk \u00a0
2,837 \u00a0
2,656 \u00a0
2,837 \u00a0
2,656 \u00a0
Mortgage loans at fair value \u00a0
755,539 \u00a0
753,624 \u00a0
755,539 \u00a0
753,624 \u00a0
Arrears and outlays \u00a0
140 \u00a0
135 \u00a0
140 \u00a0
135 \u00a0
Other loans \u00a0
67 \u00a0
84 \u00a0
51 \u00a0
63 \u00a0
Total \u00a0
755,746 \u00a0
753,843 \u00a0
755,730 \u00a0
753,822 \u00a0
Apart from being backed by mortgages on properties, \u00a0
loans are backed by central and local government \u00a0
guarantees and insurance guarantees of \u00a0
66,660 \u00a0
65,954 \u00a0
66,660 \u00a0
65,954 \u00a0
Pass books and bonds have been deposited and guarantees \u00a0
provided as supplementary security in a total amount of \u00a0
94,990 \u00a0
97,541 \u00a0
94,990 \u00a0
97,541 \u00a0
Realkredit Danmark has also received various declarations of indemnification without specification of amounts. \u00a0
The valuation of the loans is based on the quoted price of the underlying bonds with which borrowers may repay the loans. The regular fluctua- \u00a0
tions in the price of the bonds will therefore be offset by a corresponding change in the value of the loans with the result being unaffected by the \u00a0
ongoing market value fluctuations, both in terms of interest and the credit risk on the issued bonds. In addition, the value of the loans is affected \u00a0
by credit risk changes. In 2024, DKK 181 million was booked as an expense concerning adjustment for credit risk on loans (2023: an income of \u00a0
DKK 206 million). The accumulated adjustment for credit risk amounts to DKK 2.8 billion (2023: DKK 2.7 billion). \u00a0
Realkredit Danmark Group \u00a0
Financial instruments at fair value \u00a0
Quoted \u00a0
Observable \u00a0
Non-observable \u00a0
2024 \u00a0
prices \u00a0
input \u00a0
input \u00a0
Total \u00a0
Bonds at fair value \u00a0
1,138 \u00a0
23,229 \u00a0
-
24,367 \u00a0
Mortgage loans at fair value \u00a0
-
755,539 \u00a0
-
755,539 \u00a0
Shares \u00a0
-
-
2
2
Derivatives \u00a0
-
22 \u00a0
-
22 \u00a0
Total \u00a0
1,138 \u00a0
778,790 \u00a0
2
779,930 \u00a0
Issued mortgage bonds at fair value \u00a0
762,125 \u00a0
-
-
762,125 \u00a0
Derivatives \u00a0
-
9
-
9
Total \u00a0
762,125 \u00a0
9
-
762,134 \u00a0
2023 \u00a0
Bonds at fair value \u00a0
1,686 \u00a0
15,118 \u00a0
-
16,804 \u00a0
Mortgage loans at fair value \u00a0
-
753,624 \u00a0
-
753,624 \u00a0
Shares \u00a0
-
-
3
3
Derivatives \u00a0
-
29 \u00a0
-
29 \u00a0
Total \u00a0
1,686 \u00a0
768,771 \u00a0
3
770,460 \u00a0
Issued mortgage bonds at fair value \u00a0
756,509 \u00a0
-
-
756,509 \u00a0
Derivatives \u00a0
-
186 \u00a0
-
186 \u00a0
Total \u00a0
756,509 \u00a0
186 \u00a0
-
756,695 \u00a0
Fair value is the amount at which a financial asset can be traded between knowledgeable, willing parties. If an active market exists, \u00a0
Realkredit Danmark uses the quoted price. \u00a0
Developments in the financial markets did not lead to reclassification of bonds between listed prices and observable input in 2024.
\u00a0
Mortgage loans and issued mortgage bonds are recognised at the fair value of the issued mortgage bonds. In accordance with the accounting poli- \u00a0
cies, the fair value of the credit risk on the mortgage loans is adjusted. \u00a0
Valuation techniques are generally used for OTC derivatives and unlisted shares. The most frequently used valuation models include pricing of \u00a0
businesses with future settlement and swap models using present value calculations. The valuation is based substantially on observable input. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFairValueOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2075": {
"value": "Staff costs and administrative expenses \u00a0
Salaries and remuneration of Executive Management, Board of Directors \u00a0
Executive Management \u00a0
8
7
8
7
Board of Directors \u00a0
1
1
1
1
Total \u00a0
9
8
9
8
Staff costs \u00a0
Salaries \u00a0
169 \u00a0
162 \u00a0
145 \u00a0
139 \u00a0
Defined contribution pensions \u00a0
22 \u00a0
21 \u00a0
19 \u00a0
18 \u00a0
Other social security costs and taxes \u00a0
30 \u00a0
29 \u00a0
30 \u00a0
29 \u00a0
Total \u00a0
221 \u00a0
212 \u00a0
194 \u00a0
186 \u00a0
Other administrative expenses \u00a0
778 \u00a0
834 \u00a0
745 \u00a0
804 \u00a0
Total staff costs and administrative expenses \u00a0
1,008 \u00a0
1,054 \u00a0
948 \u00a0
998 \u00a0
Number of full-time-equivalent staff (avg.) \u00a0
229 \u00a0
229 \u00a0
200 \u00a0
200 \u00a0
Remuneration of the Board of Directors (DKK thousands) \u00a0
Total remuneration \u00a0
575 \u00a0
575 \u00a0
575 \u00a0
575 \u00a0
Members of the Board end of year \u00a0
7
6
7
6
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2076": {
"value": "Staff costs and administrative expenses \u00a0
Salaries and remuneration of Executive Management, Board of Directors \u00a0
Executive Management \u00a0
8
7
8
7
Board of Directors \u00a0
1
1
1
1
Total \u00a0
9
8
9
8
Staff costs \u00a0
Salaries \u00a0
169 \u00a0
162 \u00a0
145 \u00a0
139 \u00a0
Defined contribution pensions \u00a0
22 \u00a0
21 \u00a0
19 \u00a0
18 \u00a0
Other social security costs and taxes \u00a0
30 \u00a0
29 \u00a0
30 \u00a0
29 \u00a0
Total \u00a0
221 \u00a0
212 \u00a0
194 \u00a0
186 \u00a0
Other administrative expenses \u00a0
778 \u00a0
834 \u00a0
745 \u00a0
804 \u00a0
Total staff costs and administrative expenses \u00a0
1,008 \u00a0
1,054 \u00a0
948 \u00a0
998 \u00a0
Number of full-time-equivalent staff (avg.) \u00a0
229 \u00a0
229 \u00a0
200 \u00a0
200 \u00a0
Remuneration of the Board of Directors (DKK thousands) \u00a0
Total remuneration \u00a0
575 \u00a0
575 \u00a0
575 \u00a0
575 \u00a0
Members of the Board end of year \u00a0
7
6
7
6
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfExpensesByNatureExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2077": {
"value": "Remuneration Report 2024 available at rd.dk provides a detailed description of remuneration paid to the Board of Directors. \u00a0
Members of the Board of Directors employed by Danske Bank A/S do not receive remuneration from Realkredit Danmark. During the period that \u00a0
members of the Board of Directors were also members of the Executive Leadership Team in Danske Bank A/S, a total remuneration of approxi- \u00a0
mately DKK 26.6 million was earned from Danske Bank A/S in 2024 (2023: DKK 26.1 million). \u00a0
Staff costs and administrative expenses \u00a0
Members of the Board of Directors only receive a fixed fee. They are not covered by any incentive programmes at Realkredit Danmark. In addi- \u00a0
tion to the fixed fee, a committee fee is paid to the chairman of the Audit Committee. \u00a0
Board fees are paid by the parent company Realkredit Danmark A/S. No board member has received remuneration for membership of the Execu- \u00a0
tive Management or board of directors of the home a/s subsidiary. \u00a0
The Group has no pension obligations towards its board members. \u00a0
The total remuneration of the Executive Management of DKK 7.8 million for 2024 (2023: DKK 7.0 million) consists of fixed remuneration of \u00a0
DKK 5.8 million (2023: DKK 5.5 million) and variable remuneration of DKK 2.0 million (2023: DKK 1.5 million). \u00a0
The remuneration of the Executive Management was paid by the parent company Realkredit Danmark A/S. No member of the Executive Manage- \u00a0
ment has received remuneration for membership of the Executive Management or the Board of Directors of the subsidiary home a/s. \u00a0
Remuneration Report 2024 available at rd.dk provides a detailed description of remuneration paid to the Executive Management. \u00a0
Remuneration of other material risk takers \u00a0
In accordance with current legislation of the Danish Financial Business Act and the accompanying order, Realkredit Danmark is required to iden- \u00a0
tify all employees whose professional activities could have a material impact on the risk profile of Realkredit Danmark. Other material risk takers \u00a0
do not comprise members of the Executive Management or Board of Directors. \u00a0
Variable payment for other material risk takers is granted in accordance with the rules of the Danske Bank Group\u2019s remuneration policy, which \u00a0
Realkredit Danmark has adopted, the rules of the European Banking Authority (EBA) and the rules of the Danish FSA with respect to split into \u00a0
cash and share-based payment and postponement of disbursement. All variable payments are subject to claw back provisions if granted on the \u00a0
basis of data which has subsequently proven to be manifestly misstated or inaccurate. \u00a0
For 2024, Realkredit Danmark A/S paid remuneration totalling DKK 21.3 million for 14 other material risk takers (2023: DKK 15.6 million for \u00a0
12 other material risk takers). The remuneration consists of fixed remuneration of DKK 17.6 million and variable remuneration of DKK 3.7 mil- \u00a0
lion (2023: DKK 13.8 million and DKK 1.8 million). Variable remuneration for 2024 is estimated and the final figure is determined at the end of \u00a0
February 2025. The final fixed and variable remuneration for material risk takers will be published in the quantitative disclosure on material risk \u00a0
takers\u2019 remuneration, compliant with the Danish FSA and EBA requirements. The disclosure will be available at rd.dk in May 2025. \u00a0
Realkredit Danmark A/S has no pension obligation towards other material risk takers, as these are covered by defined contribution plans through \u00a0
pension funds. \u00a0
Share-based payments \u00a0
The total expense recognised as Operating expenses in 2024 arising from share-based payments was DKK 1.8 million (2023: DKK 1.1 million). \u00a0
All share-based payments are equity-settled. The exact number of shares granted for 2024 will be determined at the beginning of April 2025. \u00a0
Part of the variable remuneration of Realkredit Danmark\u2019s Executive Management has been granted by way of conditional shares under the bonus \u00a0
structure for material risk takers and other employees, as part of their variable remuneration. Such employees have a performance agreement \u00a0
based on the performance of the Group. Part of the Danske Bank shares granted to material risk takers are, as required by EBA, deferred, see \u00a0
section above on variable payment. The fair value at grant date is measured at the expected monetary value of the underlying agreement. \u00a0
Rights to conditional shares vest up to five years after the grant date, provided that the employee, with the exception of retirement, has not re- \u00a0
signed from the Group. In addition to this requirement, the vesting of rights is conditional on certain conditions being met. The remuneration is \u00a0
subject to backtesting and claw back. \u00a0
The fair value of the conditional shares was calculated as the share price less the payment made by the employee. \u00a0
Danske Bank A/S carries hedged the share price risk. \u00a0
Share-based payments \u00a0
Conditional shares \u00a0
Number \u00a0
Fair Value (FV) \u00a0
At issue \u00a0
End of year \u00a0
Total \u00a0
(DKK millions) \u00a0
(DKK millions) \u00a0
Granted in 2019 \u00a0
1 January 2023 \u00a0
1,327 \u00a0
Vested 2023 \u00a0
-1,327 \u00a0
Forfeited 2023 \u00a0
-
Other changes 2023 \u00a0
-
31 December 2023 \u00a0
-
-
-
Granted in 2020 \u00a0
1 January 2023 \u00a0
4,652 \u00a0
Vested 2023 \u00a0
-3,293 \u00a0
Forfeited 2023 \u00a0
-
Other changes 2023 \u00a0
-
31 December 2023 \u00a0
1,359 \u00a0
0.1 \u00a0
0.2 \u00a0
Vested 2024 \u00a0
-1,359 \u00a0
Forfeited 2024 \u00a0
-
Other changes 2024 \u00a0
-
31 December 2024 \u00a0
-
-
-
Granted in 2021 \u00a0
1 January 2023 \u00a0
3,404 \u00a0
Vested 2023 \u00a0
-
Forfeited 2023 \u00a0
-
Other changes 2023 \u00a0
-
31 December 2023 \u00a0
3,404 \u00a0
0.4 \u00a0
0.6 \u00a0
Vested 2024 \u00a0
-
Forfeited 2024 \u00a0
-
Other changes 2024 \u00a0
-
31 December 2024 \u00a0
3,404 \u00a0
0.4 \u00a0
0.7 \u00a0
Share-based payments \u00a0
Conditional shares cont\u00b4d. \u00a0
Number \u00a0
Fair Value (FV) \u00a0
At issue \u00a0
End of year \u00a0
Total \u00a0
(DKK millions)
(DKK millions) \u00a0
Granted in 2022 \u00a0
1 January 2023 \u00a0
4,999 \u00a0
Vested 2023 \u00a0
-991 \u00a0
Forfeited 2023 \u00a0
-
Other changes 2023 \u00a0
-
31 December 2023 \u00a0
4,008 \u00a0
0.5 \u00a0
0.7 \u00a0
Vested 2024 \u00a0
-1,582 \u00a0
Forfeited 2024 \u00a0
-
Other changes 2024 \u00a0
-
31 December 2024 \u00a0
2,426 \u00a0
0.3 \u00a0
0.5 \u00a0
Granted in 2023 \u00a0
1 January 2023 \u00a0
7,429 \u00a0
Vested 2023 \u00a0
-4,090 \u00a0
Forfeited 2023 \u00a0
-
Other changes 2023 \u00a0
-
31 December 2023 \u00a0
3,339 \u00a0
0.5 \u00a0
0.6 \u00a0
Vested 2024 \u00a0
-749 \u00a0
Forfeited 2024 \u00a0
-
Other changes 2024 \u00a0
-
31 December 2024 \u00a0
2,590 \u00a0
0.4 \u00a0
0.5 \u00a0
Granted in 2024 \u00a0
Granted in 2024 \u00a0
7,339 \u00a0
Vested 2024 \u00a0
-3,833 \u00a0
Forfeited 2024 \u00a0
-
Other changes 2024 \u00a0
-
31 December 2024 \u00a0
3,506 \u00a0
0.7 \u00a0
0.7 \u00a0
Share-based payments \u00a0
Holdings of the Executive Management and fair value, end of 2024 \u00a0
Grant year \u00a0
2021-2024 \u00a0
(DKK millions) \u00a0
Number \u00a0
FV \u00a0
Total \u00a0
5,723 \u00a0
1.17 \u00a0
Holdings of the Executive Management and fair value, end of 2023 \u00a0
Grant year \u00a0
2020-2023 \u00a0
(DKK millions) \u00a0
Number \u00a0
FV \u00a0
Total \u00a0
4,429 \u00a0
0.8 \u00a0
In 2024, the average price at the vesting date for rights to conditional shares was DKK 200.87 (2023: DKK 180.40). \u00a0
Remuneration Report 2024 available at rd.dk provides a detailed description of share-based payments to the Board of Directors. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfInformationAboutKeyManagementPersonnelExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2080": {
"value": "Staff costs and administrative expenses \u00a0
Pension plans \u00a0
Most of the Group\u2019s pension plans are defined contribution plans under which the Group pays contributions to insurance companies. Such pay- \u00a0
ments are expensed regularly. The Group has to a minor extent entered into a defined benefit pension plan through Kreditforeningen Danmarks \u00a0
Pensionsafviklingskasse, where the Group is under an obligation to pay defined future benefits from the time of retirement. The pension fund and \u00a0
the Group\u2019s defined benefit plan has not accepted new members since 1971, so no pension contributions are made. Accordingly, there are no \u00a0
service costs. \u00a0
The fair value of pension assets less the present value of obligations is recognised under Other assets. At 31 December 2024, the net present value \u00a0
of pension obligations was DKK 429 million (2023: DKK 453 million), and the fair value of plan assets was DKK 539 million (2023: DKK 574 \u00a0
million). Actuarial gains or losses are recognised in Other comprehensive income. \u00a0
The calculation of the net obligation is based on valuations made by external actuaries. These valuations rely on assumptions about a number of \u00a0
variables, including discount and mortality rates and salary increases. The measurement of the net obligation is particularly sensitive to changes \u00a0
in the discount rate. The discount rate is determined by reference to yields on Danish mortgage bonds with terms to maturity matching the terms \u00a0
of the pension obligations. \u00a0
Other assets \u00a0
Interest due \u00a0
496 \u00a0
505 \u00a0
496 \u00a0
505 \u00a0
Pension assets \u00a0
110 \u00a0
121 \u00a0
110 \u00a0
121 \u00a0
Lease assets \u00a0
72 \u00a0
107 \u00a0
-
-
Other assets \u00a0
497 \u00a0
468 \u00a0
457 \u00a0
429 \u00a0
Total \u00a0
1,175 \u00a0
1,201 \u00a0
1,063 \u00a0
1,055 \u00a0
Other liabilities \u00a0
Interest accrued \u00a0
6,386 \u00a0
6,431 \u00a0
6,386 \u00a0
6,431 \u00a0
Reserves in early series subject to a reimbursement obligation* \u00a0
2
2
-
-
Lease liabilities \u00a0
72 \u00a0
107 \u00a0
-
-
Other creditors \u00a0
247 \u00a0
415 \u00a0
236 \u00a0
401 \u00a0
Total \u00a0
6,707 \u00a0
6,955 \u00a0
6,622 \u00a0
6,832 \u00a0
* Recognised in the balance sheet of the parent company, Realkredit Danmark A/S, under \u201cProvisions\u201d. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2081": {
"value": "Share-based payments \u00a0
The total expense recognised as Operating expenses in 2024 arising from share-based payments was DKK 1.8 million (2023: DKK 1.1 million). \u00a0
All share-based payments are equity-settled. The exact number of shares granted for 2024 will be determined at the beginning of April 2025. \u00a0
Part of the variable remuneration of Realkredit Danmark\u2019s Executive Management has been granted by way of conditional shares under the bonus \u00a0
structure for material risk takers and other employees, as part of their variable remuneration. Such employees have a performance agreement \u00a0
based on the performance of the Group. Part of the Danske Bank shares granted to material risk takers are, as required by EBA, deferred, see \u00a0
section above on variable payment. The fair value at grant date is measured at the expected monetary value of the underlying agreement. \u00a0
Rights to conditional shares vest up to five years after the grant date, provided that the employee, with the exception of retirement, has not re- \u00a0
signed from the Group. In addition to this requirement, the vesting of rights is conditional on certain conditions being met. The remuneration is \u00a0
subject to backtesting and claw back. \u00a0
The fair value of the conditional shares was calculated as the share price less the payment made by the employee. \u00a0
Danske Bank A/S carries hedged the share price risk. \u00a0
Share-based payments \u00a0
Conditional shares \u00a0
Number \u00a0
Fair Value (FV) \u00a0
At issue \u00a0
End of year \u00a0
Total \u00a0
(DKK millions) \u00a0
(DKK millions) \u00a0
Granted in 2019 \u00a0
1 January 2023 \u00a0
1,327 \u00a0
Vested 2023 \u00a0
-1,327 \u00a0
Forfeited 2023 \u00a0
-
Other changes 2023 \u00a0
-
31 December 2023 \u00a0
-
-
-
Granted in 2020 \u00a0
1 January 2023 \u00a0
4,652 \u00a0
Vested 2023 \u00a0
-3,293 \u00a0
Forfeited 2023 \u00a0
-
Other changes 2023 \u00a0
-
31 December 2023 \u00a0
1,359 \u00a0
0.1 \u00a0
0.2 \u00a0
Vested 2024 \u00a0
-1,359 \u00a0
Forfeited 2024 \u00a0
-
Other changes 2024 \u00a0
-
31 December 2024 \u00a0
-
-
-
Granted in 2021 \u00a0
1 January 2023 \u00a0
3,404 \u00a0
Vested 2023 \u00a0
-
Forfeited 2023 \u00a0
-
Other changes 2023 \u00a0
-
31 December 2023 \u00a0
3,404 \u00a0
0.4 \u00a0
0.6 \u00a0
Vested 2024 \u00a0
-
Forfeited 2024 \u00a0
-
Other changes 2024 \u00a0
-
31 December 2024 \u00a0
3,404 \u00a0
0.4 \u00a0
0.7 \u00a0
Share-based payments \u00a0
Conditional shares cont\u00b4d. \u00a0
Number \u00a0
Fair Value (FV) \u00a0
At issue \u00a0
End of year \u00a0
Total \u00a0
(DKK millions)
(DKK millions) \u00a0
Granted in 2022 \u00a0
1 January 2023 \u00a0
4,999 \u00a0
Vested 2023 \u00a0
-991 \u00a0
Forfeited 2023 \u00a0
-
Other changes 2023 \u00a0
-
31 December 2023 \u00a0
4,008 \u00a0
0.5 \u00a0
0.7 \u00a0
Vested 2024 \u00a0
-1,582 \u00a0
Forfeited 2024 \u00a0
-
Other changes 2024 \u00a0
-
31 December 2024 \u00a0
2,426 \u00a0
0.3 \u00a0
0.5 \u00a0
Granted in 2023 \u00a0
1 January 2023 \u00a0
7,429 \u00a0
Vested 2023 \u00a0
-4,090 \u00a0
Forfeited 2023 \u00a0
-
Other changes 2023 \u00a0
-
31 December 2023 \u00a0
3,339 \u00a0
0.5 \u00a0
0.6 \u00a0
Vested 2024 \u00a0
-749 \u00a0
Forfeited 2024 \u00a0
-
Other changes 2024 \u00a0
-
31 December 2024 \u00a0
2,590 \u00a0
0.4 \u00a0
0.5 \u00a0
Granted in 2024 \u00a0
Granted in 2024 \u00a0
7,339 \u00a0
Vested 2024 \u00a0
-3,833 \u00a0
Forfeited 2024 \u00a0
-
Other changes 2024 \u00a0
-
31 December 2024 \u00a0
3,506 \u00a0
0.7 \u00a0
0.7 \u00a0
Share-based payments \u00a0
Holdings of the Executive Management and fair value, end of 2024 \u00a0
Grant year \u00a0
2021-2024 \u00a0
(DKK millions) \u00a0
Number \u00a0
FV \u00a0
Total \u00a0
5,723 \u00a0
1.17 \u00a0
Holdings of the Executive Management and fair value, end of 2023 \u00a0
Grant year \u00a0
2020-2023 \u00a0
(DKK millions) \u00a0
Number \u00a0
FV \u00a0
Total \u00a0
4,429 \u00a0
0.8 \u00a0
In 2024, the average price at the vesting date for rights to conditional shares was DKK 200.87 (2023: DKK 180.40). \u00a0
Remuneration Report 2024 available at rd.dk provides a detailed description of share-based payments to the Board of Directors. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSharebasedPaymentArrangementsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2089": {
"value": "Audit fees \u00a0
Audit firm appointed by the general meeting \u00a0
Statutory audit of financial statements \u00a0
3
2
3
2
Fees for other assurance engagements \u00a0
-
1
-
1
Fees for tax advisory services \u00a0
-
-
-
-
Fees for other services \u00a0
-
-
-
-
Total \u00a0
3
3
3
3
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAuditorsRemunerationExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2090": {
"value": "Loan impairment charges \u00a0
ECL on new assets \u00a0
393 \u00a0
210 \u00a0
393 \u00a0
210 \u00a0
ECL on assets derecognised \u00a0
397 \u00a0
417 \u00a0
397 \u00a0
417 \u00a0
Impact of remeasurement \u00a0
297 \u00a0
75 \u00a0
297 \u00a0
75 \u00a0
Write-offs charged directly to income statement \u00a0
37 \u00a0
31 \u00a0
36 \u00a0
30 \u00a0
Received on claims previously written off \u00a0
-3 \u00a0
13 \u00a0
-3 \u00a0
13 \u00a0
Total \u00a0
333 \u00a0
-114 \u00a0
332 \u00a0
-115 \u00a0
After implementation of IFRS 9, the bonds are recognised in connection with impairment for expected credit losses. \u00a0
The bonds are recognised in stage 1, and the expected credit losses resulting from default events within the next 12 months are insignificant. \u00a0
Loans etc. \u00a0
Reconciliation of total allowance account \u00a0
Realkredit Danmark Group \u00a0
Mortgage loans \u00a0
Other loans \u00a0
Loan commitments \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Total \u00a0
ECL at 1 January 2024 incl. \u00a0
impact on loans \u00a0
1,047 \u00a0
638 \u00a0
971 \u00a0
23 \u00a0
15 \u00a0
22 \u00a0
12 \u00a0
2
8
2,738 \u00a0
Transferred to stage 1 \u00a0
338 \u00a0
-215 \u00a0
-123 \u00a0
6
-4 \u00a0
-2 \u00a0
-
-
-
-
Transferred to stage 2 \u00a0
-100 \u00a0
140 \u00a0
-40 \u00a0
-2 \u00a0
3
-1 \u00a0
-
-
-
-
Transferred to stage 3 \u00a0
-11 \u00a0
-26 \u00a0
37 \u00a0
-
-
-
-
-
-
-
ECL on new assets \u00a0
142 \u00a0
157 \u00a0
29 \u00a0
3
3
1
48 \u00a0
3
7
393 \u00a0
ECL on assets derecognised \u00a0
320 \u00a0
34 \u00a0
35 \u00a0
6
1
1
-
-
-
397 \u00a0
Impact of remeasurement \u00a0
-138 \u00a0
197 \u00a0
245 \u00a0
-6 \u00a0
-1 \u00a0
-
-
-
-
297 \u00a0
Write-offs, allowance account \u00a0
10 \u00a0
-
52 \u00a0
-
-
1
-
-
-
63 \u00a0
Total allowance account at \u00a0
31 December 2024 \u00a0
948 \u00a0
857 \u00a0
1,032 \u00a0
18 \u00a0
15 \u00a0
18 \u00a0
60 \u00a0
5
15 \u00a0
2,968 \u00a0
Mortgage loans \u00a0
Other loans \u00a0
Loan commitments \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Total \u00a0
ECL at 1 January 2023 incl. \u00a0
impact on loans \u00a0
609 \u00a0
1,340 \u00a0
913 \u00a0
1
2
1
18 \u00a0
23 \u00a0
5
2,912 \u00a0
Transferred to stage 1 \u00a0
936 \u00a0
-818 \u00a0
-118 \u00a0
22 \u00a0
-19 \u00a0
-3 \u00a0
-
-
-
-
Transferred to stage 2 \u00a0
-13 \u00a0
31 \u00a0
-18 \u00a0
-
-
-
-
-
-
-
Transferred to stage 3 \u00a0
-3 \u00a0
-26 \u00a0
29 \u00a0
-
-1 \u00a0
1
-
-
-
-
ECL on new assets \u00a0
138 \u00a0
45 \u00a0
20 \u00a0
3
1
-
-
-
3
210 \u00a0
ECL on assets derecognised \u00a0
344 \u00a0
8
29 \u00a0
8
-
1
6
21 \u00a0
-
417 \u00a0
Impact of remeasurement \u00a0
-276 \u00a0
74 \u00a0
215 \u00a0
5
32 \u00a0
25 \u00a0
-
-
-
75 \u00a0
Write-offs, allowance account \u00a0
-
-
41 \u00a0
-
-
1
-
-
-
42 \u00a0
Total allowance account at \u00a0
31 December 2023 \u00a0
1,047 \u00a0
638 \u00a0
971 \u00a0
23 \u00a0
15 \u00a0
22 \u00a0
12 \u00a0
2
8
2,738 \u00a0
Other loans comprise the balance sheet items \u201cDue from credit institutions and central banks\u201d, \u201cLoans and other amounts due at amortised cost\u201d \u00a0
and \u201cOther assets\u201d. These loans are valued at amortised cost. For Realkredit Danmark A/S, the credit exposure and total impairments correspond \u00a0
to the calculation for the Group with the sole difference that loans in the amount of DKK 16 million in home are excluded (recognised in other \u00a0
loans in the tables) (2023: DKK 22 million). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAllowanceForCreditLossesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2091": {
"value": "Tax \u00a0
Tax on profit for the year \u00a0
1,718 \u00a0
1,507 \u00a0
1,710 \u00a0
1,500 \u00a0
Deferred tax \u00a0
-168 \u00a0
-
-168 \u00a0
-
Adjustment of prior-year tax charges \u00a0
-17 \u00a0
62 \u00a0
-17 \u00a0
62 \u00a0
Total \u00a0
1,533 \u00a0
1,569 \u00a0
1,525 \u00a0
1,562 \u00a0
Effective tax rate \u00a0
Current Danish tax rate \u00a0
26.0 \u00a0
25.2 \u00a0
26.0 \u00a0
25.2 \u00a0
Adjustment of prior-year tax charge \u00a0
-0.3 \u00a0
1.1 \u00a0
-0.3 \u00a0
1.0 \u00a0
Non-taxable items \u00a0
-
-
-0.1 \u00a0
-
Change in deferred tax charge as a result of increased tax rate \u00a0
-
-
-
-
Effective tax rate \u00a0
25.7 \u00a0
26.3 \u00a0
25.6 \u00a0
26.2 \u00a0
Deferred tax assets and liabilities \u00a0
Deferred tax liabilities \u00a0
49 \u00a0
459 \u00a0
-
-
Provision for deferred tax \u00a0
-
-
54 \u00a0
465 \u00a0
Total \u00a0
49 \u00a0
459 \u00a0
54 \u00a0
465 \u00a0
Change in deferred tax \u00a0
Recognised in net \u00a0
Recognised in other \u00a0
Other ad- \u00a0
Realkredit Danmark Group \u00a0
1 January \u00a0
profit for the year
comprehensive income \u00a0
justments \u00a0
31 December \u00a0
2024 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-2 \u00a0
-
-
-
-2 \u00a0
Securities \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Provisions \u00a0
514 \u00a0
-409 \u00a0
-2 \u00a0
-48 \u00a0
55 \u00a0
Other \u00a0
-52 \u00a0
1
-
48 \u00a0
-3 \u00a0
Total \u00a0
459 \u00a0
-408 \u00a0
-2 \u00a0
-
49 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
-241 \u00a0
2023 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-2 \u00a0
-
-
-
-2 \u00a0
Securities \u00a0
2
-3 \u00a0
-
-
-1 \u00a0
Provisions \u00a0
46 \u00a0
485 \u00a0
-17 \u00a0
-
514 \u00a0
Other \u00a0
-3 \u00a0
-49 \u00a0
-
-
-52 \u00a0
Total \u00a0
43 \u00a0
433 \u00a0
-17 \u00a0
-
459 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
434 \u00a0
Change in deferred tax \u00a0
Recognised in net \u00a0
Recognised in other \u00a0
Other ad- \u00a0
Realkredit Danmark A/S \u00a0
1 January \u00a0
profit for the year
comprehensive income \u00a0
justments \u00a0
31 December \u00a0
2024 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Securities \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Provisions \u00a0
515 \u00a0
-409 \u00a0
-2 \u00a0
-48 \u00a0
56 \u00a0
Other \u00a0
-48 \u00a0
-
-
48 \u00a0
-
Total \u00a0
465 \u00a0
-409 \u00a0
-2 \u00a0
-
54 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
-242 \u00a0
2023 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Securities \u00a0
2
-3 \u00a0
-
-
-1 \u00a0
Provisions \u00a0
47 \u00a0
485 \u00a0
-17 \u00a0
-
515 \u00a0
Other \u00a0
-
-48 \u00a0
-
-
-48 \u00a0
Total \u00a0
48 \u00a0
434 \u00a0
-17 \u00a0
-
465 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
434 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2092": {
"value": "Due from credit institutions and \u00a0
central banks \u00a0
On demand \u00a0
864 \u00a0
1,050 \u00a0
789 \u00a0
981 \u00a0
3 months or less \u00a0
5,962 \u00a0
2,493 \u00a0
5,962 \u00a0
2,493 \u00a0
3-12 months \u00a0
-
-
-
-
Total \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Due from credit institutions \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Term deposits with central banks \u00a0
-
-
-
-
Total \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
At fair value \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Portion attributable to reverse transactions \u00a0
5,962 \u00a0
2,493 \u00a0
5,962 \u00a0
2,493 \u00a0
The fair value is based on quoted prices. \u00a0
In 2024, reverse transactions of DKK 3,121 million were offset against repo transactions (2023: DKK 7,099 million). \u00a0
In connection with reverse transactions, Realkredit Danmark is entitled to sell or remortgage the securities. \u00a0
In 2024, securities worth DKK 0 million were sold or remortgaged (2023: DKK 0 million). \u00a0
Due to credit institutions and central banks \u00a0
On demand \u00a0
-
-
-
-
3 months or less \u00a0
-
-
-
-
3-12 months \u00a0
-
2,000 \u00a0
-
2,000 \u00a0
1-5 years \u00a0
3,500 \u00a0
-
3,500 \u00a0
-
Total \u00a0
3,500 \u00a0
2,000 \u00a0
3,500 \u00a0
2,000 \u00a0
At fair value \u00a0
3,500 \u00a0
2,000 \u00a0
3,500 \u00a0
2,000 \u00a0
Portion attributable to repo transactions \u00a0
-
-
-
-
In 2024, repo transactions of DKK 3,121 million were offset against reverse transactions (2023: DKK 7,099 million). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRepurchaseAndReverseRepurchaseAgreementsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2093": {
"value": "Due from credit institutions and \u00a0
central banks \u00a0
On demand \u00a0
864 \u00a0
1,050 \u00a0
789 \u00a0
981 \u00a0
3 months or less \u00a0
5,962 \u00a0
2,493 \u00a0
5,962 \u00a0
2,493 \u00a0
3-12 months \u00a0
-
-
-
-
Total \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Due from credit institutions \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Term deposits with central banks \u00a0
-
-
-
-
Total \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
At fair value \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Portion attributable to reverse transactions \u00a0
5,962 \u00a0
2,493 \u00a0
5,962 \u00a0
2,493 \u00a0
The fair value is based on quoted prices. \u00a0
In 2024, reverse transactions of DKK 3,121 million were offset against repo transactions (2023: DKK 7,099 million). \u00a0
In connection with reverse transactions, Realkredit Danmark is entitled to sell or remortgage the securities. \u00a0
In 2024, securities worth DKK 0 million were sold or remortgaged (2023: DKK 0 million). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndBankBalancesAtCentralBanksExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2094": {
"value": "Due from credit institutions and \u00a0
central banks \u00a0
On demand \u00a0
864 \u00a0
1,050 \u00a0
789 \u00a0
981 \u00a0
3 months or less \u00a0
5,962 \u00a0
2,493 \u00a0
5,962 \u00a0
2,493 \u00a0
3-12 months \u00a0
-
-
-
-
Total \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Due from credit institutions \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Term deposits with central banks \u00a0
-
-
-
-
Total \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
At fair value \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Portion attributable to reverse transactions \u00a0
5,962 \u00a0
2,493 \u00a0
5,962 \u00a0
2,493 \u00a0
The fair value is based on quoted prices. \u00a0
In 2024, reverse transactions of DKK 3,121 million were offset against repo transactions (2023: DKK 7,099 million). \u00a0
In connection with reverse transactions, Realkredit Danmark is entitled to sell or remortgage the securities. \u00a0
In 2024, securities worth DKK 0 million were sold or remortgaged (2023: DKK 0 million). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2095": {
"value": "Due from credit institutions and \u00a0
central banks \u00a0
On demand \u00a0
864 \u00a0
1,050 \u00a0
789 \u00a0
981 \u00a0
3 months or less \u00a0
5,962 \u00a0
2,493 \u00a0
5,962 \u00a0
2,493 \u00a0
3-12 months \u00a0
-
-
-
-
Total \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Due from credit institutions \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Term deposits with central banks \u00a0
-
-
-
-
Total \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
At fair value \u00a0
6,826 \u00a0
3,543 \u00a0
6,751 \u00a0
3,474 \u00a0
Portion attributable to reverse transactions \u00a0
5,962 \u00a0
2,493 \u00a0
5,962 \u00a0
2,493 \u00a0
The fair value is based on quoted prices. \u00a0
In 2024, reverse transactions of DKK 3,121 million were offset against repo transactions (2023: DKK 7,099 million). \u00a0
In connection with reverse transactions, Realkredit Danmark is entitled to sell or remortgage the securities. \u00a0
In 2024, securities worth DKK 0 million were sold or remortgaged (2023: DKK 0 million). \u00a0
Bonds at amortised cost \u00a0
Other mortgage bonds \u00a0
26,260 \u00a0
27,032 \u00a0
26,260 \u00a0
27,032 \u00a0
Government bonds \u00a0
1,662 \u00a0
5,741 \u00a0
1,662 \u00a0
5,741 \u00a0
Total \u00a0
27,922 \u00a0
32,773 \u00a0
27,922 \u00a0
32,773 \u00a0
Fair value of hold-to-collect assets \u00a0
27,743 \u00a0
31,952 \u00a0
27,743 \u00a0
31,952 \u00a0
The fair value is based on quoted prices. \u00a0
Of Realkredit Danmark\u2019s bond portfolio, DKK 25.0 billion has a term to maturity of less than five years, while DKK 2.9 billion has a term to \u00a0
maturity of more than five years (2023: DKK 27.0 billion and DKK 5.8 billion). \u00a0
After implementation of IFRS 9, the bonds are recognised in connection with impairment for expected credit losses. \u00a0
The bonds are recognised in stage 1, and the expected credit losses resulting from default events within the next 12 months are insignificant. \u00a0
Realkredit Danmark has placed DKK 27,922 million (end-2023: DKK 32,773 million) of its proprietary portfolio in fixed-rate bonds, which are \u00a0
recognised in the financial statements as hold-to-collect investments and are thus measured at amortised cost. At end-2024, Realkredit Dan- \u00a0
mark\u2019s bonds at amortised cost exceeded fair value by DKK 179 million (end-2023: DKK 821 million). The interest rate risk duration for the \u00a0
portfolio is 3.0 years. As a result, Realkredit Danmark knows the return on the portfolio until maturity, and the fixed-rate hold-to-collect portfo- \u00a0
lio is therefore not considered to entail an interest rate risk that needs to be hedged through derivatives. \u00a0
Total lending \u00a0
Mortgage loans, nominal value \u00a0
794,566 \u00a0
806,154 \u00a0
794,566 \u00a0
806,154 \u00a0
Fair value adjustment of underlying bonds \u00a0
-36,190 \u00a0
-49,874 \u00a0
-36,190 \u00a0
-49,874 \u00a0
Adjustment for credit risk \u00a0
2,837 \u00a0
2,656 \u00a0
2,837 \u00a0
2,656 \u00a0
Mortgage loans at fair value \u00a0
755,539 \u00a0
753,624 \u00a0
755,539 \u00a0
753,624 \u00a0
Arrears and outlays \u00a0
140 \u00a0
135 \u00a0
140 \u00a0
135 \u00a0
Other loans \u00a0
67 \u00a0
84 \u00a0
51 \u00a0
63 \u00a0
Total \u00a0
755,746 \u00a0
753,843 \u00a0
755,730 \u00a0
753,822 \u00a0
Apart from being backed by mortgages on properties, \u00a0
loans are backed by central and local government \u00a0
guarantees and insurance guarantees of \u00a0
66,660 \u00a0
65,954 \u00a0
66,660 \u00a0
65,954 \u00a0
Pass books and bonds have been deposited and guarantees \u00a0
provided as supplementary security in a total amount of \u00a0
94,990 \u00a0
97,541 \u00a0
94,990 \u00a0
97,541 \u00a0
Realkredit Danmark has also received various declarations of indemnification without specification of amounts. \u00a0
The valuation of the loans is based on the quoted price of the underlying bonds with which borrowers may repay the loans. The regular fluctua- \u00a0
tions in the price of the bonds will therefore be offset by a corresponding change in the value of the loans with the result being unaffected by the \u00a0
ongoing market value fluctuations, both in terms of interest and the credit risk on the issued bonds. In addition, the value of the loans is affected \u00a0
by credit risk changes. In 2024, DKK 181 million was booked as an expense concerning adjustment for credit risk on loans (2023: an income of \u00a0
DKK 206 million). The accumulated adjustment for credit risk amounts to DKK 2.8 billion (2023: DKK 2.7 billion). \u00a0
Loans and other amounts due at amortised cost \u00a0
On demand \u00a0
140 \u00a0
135 \u00a0
140 \u00a0
135 \u00a0
3 months or less \u00a0
4
4
2
2
3-12 months \u00a0
10 \u00a0
12 \u00a0
6
7
1-5 years \u00a0
21 \u00a0
25 \u00a0
12 \u00a0
13 \u00a0
Over 5 years \u00a0
32 \u00a0
43 \u00a0
31 \u00a0
41 \u00a0
Total \u00a0
207 \u00a0
219 \u00a0
191 \u00a0
198 \u00a0
Arrears and outlays \u00a0
Arrears before impairment charges \u00a0
123 \u00a0
119 \u00a0
123 \u00a0
119 \u00a0
Outlays before impairment charges \u00a0
144 \u00a0
95 \u00a0
144 \u00a0
95 \u00a0
Impairment charges \u00a0
127 \u00a0
79 \u00a0
127 \u00a0
79 \u00a0
Total \u00a0
140 \u00a0
135 \u00a0
140 \u00a0
135 \u00a0
Due to credit institutions and central banks \u00a0
On demand \u00a0
-
-
-
-
3 months or less \u00a0
-
-
-
-
3-12 months \u00a0
-
2,000 \u00a0
-
2,000 \u00a0
1-5 years \u00a0
3,500 \u00a0
-
3,500 \u00a0
-
Total \u00a0
3,500 \u00a0
2,000 \u00a0
3,500 \u00a0
2,000 \u00a0
At fair value \u00a0
3,500 \u00a0
2,000 \u00a0
3,500 \u00a0
2,000 \u00a0
Portion attributable to repo transactions \u00a0
-
-
-
-
In 2024, repo transactions of DKK 3,121 million were offset against reverse transactions (2023: DKK 7,099 million). \u00a0
Issued mortgage bonds at fair value \u00a0
Issued mortgage bonds, nominal value* \u00a0
877,251 \u00a0
849,818 \u00a0
877,251 \u00a0
849,818 \u00a0
Fair value adjustment \u00a0
-37,807 \u00a0
-50,919 \u00a0
-37,807 \u00a0
-50,919 \u00a0
Issued mortgage bonds at fair value, before set-off \u00a0
839,444 \u00a0
798,899 \u00a0
839,444 \u00a0
798,899 \u00a0
Set-off of own mortgage bonds at fair value \u00a0
77,319 \u00a0
42,390 \u00a0
77,319 \u00a0
42,390 \u00a0
Issued mortgage bonds at fair value \u00a0
762,125 \u00a0
756,509 \u00a0
762,125 \u00a0
756,509 \u00a0
The fair value is based on quoted prices. \u00a0
0-1 month \u00a0
72,726 \u00a0
42,351 \u00a0
72,726 \u00a0
42,351 \u00a0
1-3 months \u00a0
-
-
-
-
3-12 months \u00a0
65,910 \u00a0
116,441 \u00a0
65,910 \u00a0
116,441 \u00a0
1-5 years \u00a0
371,322 \u00a0
334,680 \u00a0
371,322 \u00a0
334,680 \u00a0
5-10 years \u00a0
84,644 \u00a0
95,760 \u00a0
84,644 \u00a0
95,760 \u00a0
Over 10 years \u00a0
167,523 \u00a0
167,277 \u00a0
167,523 \u00a0
167,277 \u00a0
Total \u00a0
762,125 \u00a0
756,509 \u00a0
762,125 \u00a0
756,509 \u00a0
* Portion pre-issued \u00a0
56,271 \u00a0
30,924 \u00a0
56,271 \u00a0
30,924 \u00a0
* Portion drawn at 2 January 2025, or 2 January 2024 \u00a0
73,007 \u00a0
36,070 \u00a0
73,007 \u00a0
36,070 \u00a0
*In 2024, Realkredit Danmark issued bonds under the green bond framework, with a nominal value of DKK 29,126 million outstanding at the end \u00a0
of 2024 (2023: DKK 27,153 million). \u00a0
Fair value adjustment for the credit risk on issued mortgage bonds is calculated on the basis of the option-adjusted spread (OAS). The calculation \u00a0
incorporates maturity, nominal holdings and OAS sensitivity. As a number of estimates are made, the calculation is subject to uncertainty. \u00a0
In 2024, the Danish mortgage bond yield spread increased and the fair value of issued mortgage bonds thus decreased by approximately DKK 7.0 \u00a0
billion. In 2023, the Danish mortgage bond yield spread increased, causing a decrease in the fair value of issued mortgage bonds. Based on the \u00a0
outstanding portfolio at the end of 2024, Realkredit Danmark estimates that there has been a net increase of the spread since the issuance of the \u00a0
bonds, which produces a positive fair value of approximately DKK 1.37 billion (2023: negative fair value of approximately DKK 0.05 billion). \u00a0
Net profit and shareholders\u2019 equity remain unaffected by the change in fair value because the spread increase, decrease the value of mortgage \u00a0
loans correspondingly. \u00a0
Fair value adjustment for the credit risk on issued mortgage bonds may also be calculated on the basis of changes in similar AAA rated mortgage \u00a0
bonds offered by other Danish issuers. The market for such bonds is characterised by an absence of measurable price differences between bonds \u00a0
with similar features from different issuers. Using this method, no fair value adjustment for credit risk in 2024 or the period since the issue has \u00a0
been required. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2101": {
"value": "Total lending \u00a0
Mortgage loans, nominal value \u00a0
794,566 \u00a0
806,154 \u00a0
794,566 \u00a0
806,154 \u00a0
Fair value adjustment of underlying bonds \u00a0
-36,190 \u00a0
-49,874 \u00a0
-36,190 \u00a0
-49,874 \u00a0
Adjustment for credit risk \u00a0
2,837 \u00a0
2,656 \u00a0
2,837 \u00a0
2,656 \u00a0
Mortgage loans at fair value \u00a0
755,539 \u00a0
753,624 \u00a0
755,539 \u00a0
753,624 \u00a0
Arrears and outlays \u00a0
140 \u00a0
135 \u00a0
140 \u00a0
135 \u00a0
Other loans \u00a0
67 \u00a0
84 \u00a0
51 \u00a0
63 \u00a0
Total \u00a0
755,746 \u00a0
753,843 \u00a0
755,730 \u00a0
753,822 \u00a0
Apart from being backed by mortgages on properties, \u00a0
loans are backed by central and local government \u00a0
guarantees and insurance guarantees of \u00a0
66,660 \u00a0
65,954 \u00a0
66,660 \u00a0
65,954 \u00a0
Pass books and bonds have been deposited and guarantees \u00a0
provided as supplementary security in a total amount of \u00a0
94,990 \u00a0
97,541 \u00a0
94,990 \u00a0
97,541 \u00a0
Realkredit Danmark has also received various declarations of indemnification without specification of amounts. \u00a0
The valuation of the loans is based on the quoted price of the underlying bonds with which borrowers may repay the loans. The regular fluctua- \u00a0
tions in the price of the bonds will therefore be offset by a corresponding change in the value of the loans with the result being unaffected by the \u00a0
ongoing market value fluctuations, both in terms of interest and the credit risk on the issued bonds. In addition, the value of the loans is affected \u00a0
by credit risk changes. In 2024, DKK 181 million was booked as an expense concerning adjustment for credit risk on loans (2023: an income of \u00a0
DKK 206 million). The accumulated adjustment for credit risk amounts to DKK 2.8 billion (2023: DKK 2.7 billion). \u00a0
Loans and other amounts due at amortised cost \u00a0
On demand \u00a0
140 \u00a0
135 \u00a0
140 \u00a0
135 \u00a0
3 months or less \u00a0
4
4
2
2
3-12 months \u00a0
10 \u00a0
12 \u00a0
6
7
1-5 years \u00a0
21 \u00a0
25 \u00a0
12 \u00a0
13 \u00a0
Over 5 years \u00a0
32 \u00a0
43 \u00a0
31 \u00a0
41 \u00a0
Total \u00a0
207 \u00a0
219 \u00a0
191 \u00a0
198 \u00a0
Arrears and outlays \u00a0
Arrears before impairment charges \u00a0
123 \u00a0
119 \u00a0
123 \u00a0
119 \u00a0
Outlays before impairment charges \u00a0
144 \u00a0
95 \u00a0
144 \u00a0
95 \u00a0
Impairment charges \u00a0
127 \u00a0
79 \u00a0
127 \u00a0
79 \u00a0
Total \u00a0
140 \u00a0
135 \u00a0
140 \u00a0
135 \u00a0
Loans etc. \u00a0
Credit exposure \u2013 gross carrying amount (i.e. before impairments) \u00a0
Realkredit Danmark Group \u00a0
Mortgage loans \u00a0
Other loans \u00a0
Loan commitments \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Total \u00a0
Gross carrying amount at \u00a0
1 January 2024 \u00a0
723,836 \u00a0
24,427 \u00a0
8,017 \u00a0
3,601 \u00a0
14 \u00a0
227 \u00a0
16,924 \u00a0
204 \u00a0
68 777,318 \u00a0
Transferred to stage 1 \u00a0
5,607 \u00a0
-5,101 \u00a0
-506 \u00a0
-
-
-
-
-
-
-
Transferred to stage 2 \u00a0
-11,031 \u00a0
11,932 \u00a0
-901 \u00a0
-
-
-
-103 \u00a0
103 \u00a0
-
-
Transferred to stage 3 \u00a0
-1,735 \u00a0
-932 \u00a0
2,667 \u00a0
-
-1 \u00a0
1
-
-
-
-
New assets \u00a0
81,881 \u00a0
2,377 \u00a0
412 \u00a0
3,284 \u00a0
1
65 \u00a0
15,978 \u00a0
275 \u00a0
107 104,380 \u00a0
Assets derecognised \u00a0
(other than written off) \u00a0
69,866 \u00a0
3,959 \u00a0
1,409 \u00a0
2
1
36 \u00a0
11,205 \u00a0
203 \u00a0
68 \u00a0
86,749 \u00a0
Other \u00a0
-6,814 \u00a0
-361 \u00a0
-165 \u00a0
-11 \u00a0
-1 \u00a0
21 \u00a0
1,393 \u00a0
181 \u00a0
-
-5,757 \u00a0
Gross carrying amount \u00a0
31 December 2024 \u00a0
721,878 \u00a0
28,383 \u00a0
8,115 \u00a0
6,872 \u00a0
12 \u00a0
278 \u00a0
22,987 \u00a0
560 \u00a0
107 789,192 \u00a0
Mortgage loans \u00a0
Other loans \u00a0
Loan commitments \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Total \u00a0
Gross carrying amount at \u00a0
1 January 2023 \u00a0
675,524 \u00a0
42,918 \u00a0
8,858 \u00a0
3,208 \u00a0
16 \u00a0
178 \u00a0
25,551 \u00a0
1,338 \u00a0
396 757,987 \u00a0
Transferred to stage 1 \u00a0
19,842 -19,128 \u00a0
-714 \u00a0
-
-
-
71 \u00a0
-71 \u00a0
-
-
Transferred to stage 2 \u00a0
-5,448 \u00a0
6,176 \u00a0
-728 \u00a0
-
-
-
-22 \u00a0
22 \u00a0
-
-
Transferred to stage 3 \u00a0
-836 \u00a0
-908 \u00a0
1,744 \u00a0
-
-
-
-
-
-
-
New assets \u00a0
93,555 \u00a0
2,024 \u00a0
336 \u00a0
401 \u00a0
1
48 \u00a0
12,124 \u00a0
185 \u00a0
58 108,732 \u00a0
Assets derecognised \u00a0
(other than written off) \u00a0
60,941 \u00a0
6,488 \u00a0
1,355 \u00a0
2
2
32 \u00a0
17,839 \u00a0
1,267 \u00a0
383 \u00a0
88,309 \u00a0
Other \u00a0
2,140 \u00a0
-167 \u00a0
-124 \u00a0
-6 \u00a0
-1 \u00a0
33 \u00a0
-2,961 \u00a0
-3 \u00a0
-3 \u00a0
-1,092 \u00a0
Gross carrying amount \u00a0
31 December 2023 \u00a0
723,836 \u00a0
24,427 \u00a0
8,017 \u00a0
3,601 \u00a0
14 \u00a0
227 \u00a0
16,924 \u00a0
204 \u00a0
68 777,318 \u00a0
The nominal value of loans written off in 2024 and for which Realkredit Danmark has maintained the claim amounts to DKK 74 million \u00a0
(2023: DKK 72 million). \u00a0
Loans etc. \u00a0
Reconciliation of total allowance account \u00a0
Realkredit Danmark Group \u00a0
Mortgage loans \u00a0
Other loans \u00a0
Loan commitments \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Total \u00a0
ECL at 1 January 2024 incl. \u00a0
impact on loans \u00a0
1,047 \u00a0
638 \u00a0
971 \u00a0
23 \u00a0
15 \u00a0
22 \u00a0
12 \u00a0
2
8
2,738 \u00a0
Transferred to stage 1 \u00a0
338 \u00a0
-215 \u00a0
-123 \u00a0
6
-4 \u00a0
-2 \u00a0
-
-
-
-
Transferred to stage 2 \u00a0
-100 \u00a0
140 \u00a0
-40 \u00a0
-2 \u00a0
3
-1 \u00a0
-
-
-
-
Transferred to stage 3 \u00a0
-11 \u00a0
-26 \u00a0
37 \u00a0
-
-
-
-
-
-
-
ECL on new assets \u00a0
142 \u00a0
157 \u00a0
29 \u00a0
3
3
1
48 \u00a0
3
7
393 \u00a0
ECL on assets derecognised \u00a0
320 \u00a0
34 \u00a0
35 \u00a0
6
1
1
-
-
-
397 \u00a0
Impact of remeasurement \u00a0
-138 \u00a0
197 \u00a0
245 \u00a0
-6 \u00a0
-1 \u00a0
-
-
-
-
297 \u00a0
Write-offs, allowance account \u00a0
10 \u00a0
-
52 \u00a0
-
-
1
-
-
-
63 \u00a0
Total allowance account at \u00a0
31 December 2024 \u00a0
948 \u00a0
857 \u00a0
1,032 \u00a0
18 \u00a0
15 \u00a0
18 \u00a0
60 \u00a0
5
15 \u00a0
2,968 \u00a0
Mortgage loans \u00a0
Other loans \u00a0
Loan commitments \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Total \u00a0
ECL at 1 January 2023 incl. \u00a0
impact on loans \u00a0
609 \u00a0
1,340 \u00a0
913 \u00a0
1
2
1
18 \u00a0
23 \u00a0
5
2,912 \u00a0
Transferred to stage 1 \u00a0
936 \u00a0
-818 \u00a0
-118 \u00a0
22 \u00a0
-19 \u00a0
-3 \u00a0
-
-
-
-
Transferred to stage 2 \u00a0
-13 \u00a0
31 \u00a0
-18 \u00a0
-
-
-
-
-
-
-
Transferred to stage 3 \u00a0
-3 \u00a0
-26 \u00a0
29 \u00a0
-
-1 \u00a0
1
-
-
-
-
ECL on new assets \u00a0
138 \u00a0
45 \u00a0
20 \u00a0
3
1
-
-
-
3
210 \u00a0
ECL on assets derecognised \u00a0
344 \u00a0
8
29 \u00a0
8
-
1
6
21 \u00a0
-
417 \u00a0
Impact of remeasurement \u00a0
-276 \u00a0
74 \u00a0
215 \u00a0
5
32 \u00a0
25 \u00a0
-
-
-
75 \u00a0
Write-offs, allowance account \u00a0
-
-
41 \u00a0
-
-
1
-
-
-
42 \u00a0
Total allowance account at \u00a0
31 December 2023 \u00a0
1,047 \u00a0
638 \u00a0
971 \u00a0
23 \u00a0
15 \u00a0
22 \u00a0
12 \u00a0
2
8
2,738 \u00a0
Other loans comprise the balance sheet items \u201cDue from credit institutions and central banks\u201d, \u201cLoans and other amounts due at amortised cost\u201d \u00a0
and \u201cOther assets\u201d. These loans are valued at amortised cost. For Realkredit Danmark A/S, the credit exposure and total impairments correspond \u00a0
to the calculation for the Group with the sole difference that loans in the amount of DKK 16 million in home are excluded (recognised in other \u00a0
loans in the tables) (2023: DKK 22 million). \u00a0
Portfolio broken down by customer type and rating category \u00a0
(DKK billions) \u00a0
2024 \u00a0
2023 \u00a0
Rating category \u00a0
Personal \u00a0
Business \u00a0
Total \u00a0
Total \u00a0
1
-
3
3
3
2
58 \u00a0
1
59 \u00a0
56 \u00a0
3
118 \u00a0
61 \u00a0
179 \u00a0
176 \u00a0
4
100 \u00a0
99 \u00a0
199 \u00a0
193 \u00a0
5
66 \u00a0
84 \u00a0
150 \u00a0
158 \u00a0
6
24 \u00a0
88 \u00a0
112 \u00a0
109 \u00a0
7
13 \u00a0
23 \u00a0
36 \u00a0
41 \u00a0
8
2
4
6
7
9
-
-
-
-
10 \u00a0
5
1
6
5
11 \u00a0
5
3
8
8
Total \u00a0
391 \u00a0
367 \u00a0
758 \u00a0
756 \u00a0
Probability of Default (PD) % \u00a0
Rating category \u00a0
Low PD
High PD \u00a0
1
0.00 \u00a0
0.01 \u00a0
2
0.01 \u00a0
0.03 \u00a0
3
0.03 \u00a0
0.06 \u00a0
4
0.06 \u00a0
0.14 \u00a0
5
0.14 \u00a0
0.31 \u00a0
6
0.31 \u00a0
0.63 \u00a0
7
0.63 \u00a0
1.90 \u00a0
8
1.90 \u00a0
7.98 \u00a0
9
7.98 \u00a0
25.70 \u00a0
10 \u00a0
25.70 \u00a0
100.00 \u00a0
11 \u00a0
100.00 \u00a0
100.00 \u00a0
Loan portfolio broken down by loan-to-value ratios 2024 \u00a0
Total \u00a0
DKK \u00a0
Sector, % \u00a0
0-20 20-40 40-60 60-80 \u00a0
>80 billions \u00a0
Personal market \u00a0
180 \u00a0
134 \u00a0
63 \u00a0
13 \u00a0
1
391 \u00a0
Urban trade \u00a0
63 \u00a0
42 \u00a0
17 \u00a0
2
-
124 \u00a0
Agriculture \u00a0
17 \u00a0
14 \u00a0
6
-
-
37 \u00a0
Residential rental \u00a0
85 \u00a0
55 \u00a0
36 \u00a0
16 \u00a0
14 \u00a0
206 \u00a0
Weighted distribution \u00a0
46% \u00a0
32% \u00a0
16% \u00a0
4% \u00a0
2% \u00a0
100% \u00a0
Total DKK billions \u00a0
345 \u00a0
245 \u00a0
122 \u00a0
31 \u00a0
15 \u00a0
758 \u00a0
Loan portfolio broken down by loan-to-value ratios 2023 \u00a0
Total \u00a0
DKK \u00a0
Sector, % \u00a0
0-20 20-40 40-60 60-80 \u00a0
>80 billions \u00a0
Personal market \u00a0
178 \u00a0
135 \u00a0
66 \u00a0
14 \u00a0
2
395 \u00a0
Urban trade \u00a0
61 \u00a0
43 \u00a0
17 \u00a0
2
-
123 \u00a0
Agriculture \u00a0
17 \u00a0
13 \u00a0
6
-
-
36 \u00a0
Residential rental \u00a0
84 \u00a0
55 \u00a0
34 \u00a0
15 \u00a0
14 \u00a0
202 \u00a0
Weighted distribution \u00a0
45% \u00a0
33% \u00a0
16% \u00a0
4% \u00a0
2% \u00a0
100% \u00a0
Total DKK billions \u00a0
340 \u00a0
246 \u00a0
123 \u00a0
31 \u00a0
16 \u00a0
756 \u00a0
As shown in the table, no loans with an LTV ratio higher than 80% were \u00a0
granted to customers in one of the four lowest categories. \u00a0
Portfolio broken down by loan to value and rating category 2024 \u00a0
Loan to value \u00a0
Total \u00a0
Rating \u00a0
0-20% 20-40% 40-60% 60-80%
80-100% \u00a0
DKK \u00a0
category \u00a0
billions \u00a0
1
1
1
1
-
-
3
2
32 \u00a0
19 \u00a0
7
1
-
59 \u00a0
3
85 \u00a0
56 \u00a0
25 \u00a0
7
6
179 \u00a0
4
91 \u00a0
60 \u00a0
31 \u00a0
10 \u00a0
7
199 \u00a0
5
66 \u00a0
51 \u00a0
25 \u00a0
5
2
149 \u00a0
6
47 \u00a0
39 \u00a0
22 \u00a0
5
-
113 \u00a0
7
15 \u00a0
12 \u00a0
7
2
-
36 \u00a0
8
3
2
1
-
-
6
9
-
-
-
-
-
-
10 \u00a0
3
2
1
-
-
6
11 \u00a0
2
3
2
1
-
8
Total \u00a0
345 \u00a0
245 \u00a0
122 \u00a0
31 \u00a0
15 \u00a0
758 \u00a0
Portfolio broken down by loan to value and rating category 2023 \u00a0
Loan to value \u00a0
Total \u00a0
Rating \u00a0
0-20% 20-40% 40-60% 60-80%
80-100% \u00a0
DKK \u00a0
category \u00a0
billions \u00a0
1
1
1
1
-
-
3
2
30 \u00a0
18 \u00a0
7
1
-
56 \u00a0
3
82 \u00a0
56 \u00a0
25 \u00a0
7
6
176 \u00a0
4
88 \u00a0
58 \u00a0
31 \u00a0
9
7
193 \u00a0
5
68 \u00a0
54 \u00a0
27 \u00a0
6
3
158 \u00a0
6
46 \u00a0
38 \u00a0
21 \u00a0
4
-
109 \u00a0
7
16 \u00a0
14 \u00a0
8
3
-
41 \u00a0
8
4
2
1
-
-
7
9
-
-
-
-
-
-
10 \u00a0
2
2
1
-
-
5
11 \u00a0
3
3
1
1
-
8
Total \u00a0
340 \u00a0
246 \u00a0
123 \u00a0
31 \u00a0
16 \u00a0
756 \u00a0
Arrears \u00a0
Loan portfolio \u00a0
Loan to value \u00a0
Arrears \u00a0
(DKK millions) \u00a0
%
Sept. paym. in % \u00a0
2024 \u00a0
2023 \u00a0
2024 \u00a0
2023 \u00a0
2024 \u00a0
2023 \u00a0
Private market \u00a0
390,737 \u00a0
395,023 \u00a0
49 \u00a0
50 \u00a0
0.13 \u00a0
0.14 \u00a0
Urban trade \u00a0
124,081 \u00a0
201,808 \u00a0
44 \u00a0
45 \u00a0
0.20 \u00a0
0.02 \u00a0
Agriculture \u00a0
37,241 \u00a0
36,910 \u00a0
48 \u00a0
47 \u00a0
0.29 \u00a0
0.15 \u00a0
Residential rental \u00a0
206,317 \u00a0
122,539 \u00a0
64 \u00a0
65 \u00a0
0.01 \u00a0
0.01 \u00a0
Total \u00a0
758,376 \u00a0
756,280 \u00a0
53 \u00a0
53 \u00a0
0.11 \u00a0
0.06 \u00a0
In the table below, mortgage loans and the fair value of credit risk is broken down by 11 rating categories and stages 1, 2 and 3 of IFRS 9 (DKK billions). \u00a0
Although Stage 3 and default (rating 11) are generally aligned, a small amount of credit exposure in stage 3 can be found outside default. This is due to im- \u00a0
pairment staging being updated monthly (after each month-end), whereas default is updated daily. For the same reason, some credit exposure in default is \u00a0
outside stage 3. \u00a0
31 December 2024 \u00a0
PD level \u00a0
Gross Exposure \u00a0
Expected Credit Loss \u00a0
Net Exposure \u00a0
Rating \u00a0
category \u00a0
Lower \u00a0
Upper \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
1
0.00 \u00a0
0.01 \u00a0
3,334 \u00a0
-
-
-
-
-
3,334 \u00a0
-
-
2
0.01 \u00a0
0.03 \u00a0
58,590 \u00a0
166 \u00a0
48 \u00a0
6
3
5
58,584 \u00a0
163 \u00a0
43 \u00a0
3
0.03 \u00a0
0.06 \u00a0
177,729 \u00a0
656 \u00a0
135 \u00a0
19 \u00a0
7
11 \u00a0
177,710 \u00a0
649 \u00a0
124 \u00a0
4
0.06 \u00a0
0.14 \u00a0
197,008 \u00a0
1,932 \u00a0
186 \u00a0
49 \u00a0
20 \u00a0
15 \u00a0
196,959 \u00a0
1,912 \u00a0
171 \u00a0
5
0.14 \u00a0
0.31 \u00a0
145,043 \u00a0
3,250 \u00a0
220 \u00a0
90 \u00a0
35 \u00a0
22 \u00a0
144,953 \u00a0
3,215 \u00a0
198 \u00a0
6
0.31 \u00a0
0.63 \u00a0
106,704 \u00a0
5,834 \u00a0
123 \u00a0
209 \u00a0
83 \u00a0
12 \u00a0
106,495 \u00a0
5,751 \u00a0
111 \u00a0
7
0.63 \u00a0
1.90 \u00a0
30,157 \u00a0
6,167 \u00a0
140 \u00a0
461 \u00a0
127 \u00a0
14 \u00a0
29,696 \u00a0
6,040 \u00a0
126 \u00a0
8
1.90 \u00a0
7.98 \u00a0
1,752 \u00a0
4,594 \u00a0
52 \u00a0
60 \u00a0
372 \u00a0
8
1,692 \u00a0
4,222 \u00a0
44 \u00a0
9
7.98 \u00a0
25.70 \u00a0
29 \u00a0
298 \u00a0
10 \u00a0
-
32 \u00a0
1
29 \u00a0
266 \u00a0
9
10 \u00a0
25.70 \u00a0
100.00 \u00a0
741 \u00a0
4,967 \u00a0
251 \u00a0
20 \u00a0
163 \u00a0
20 \u00a0
721 \u00a0
4,804 \u00a0
231 \u00a0
11 \u00a0
100.00 \u00a0
100.00 \u00a0
791 \u00a0
519 \u00a0
6,950 \u00a0
34 \u00a0
15 \u00a0
924 \u00a0
757 \u00a0
504 \u00a0
6,026 \u00a0
Total \u00a0
721,878 \u00a0
28,383 \u00a0
8,115 \u00a0
948 \u00a0
857 \u00a0
1,032 \u00a0
720,930 \u00a0
27,526 \u00a0
7,083 \u00a0
31 December 2023 \u00a0
PD level \u00a0
Gross Exposure \u00a0
Expected Credit Loss \u00a0
Net Exposure \u00a0
Rating \u00a0
category \u00a0
Lower \u00a0
Upper \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
1
0.00 \u00a0
0.01 \u00a0
2,815 \u00a0
-
-
-
-
-
2,815 \u00a0
-
-
2
0.01 \u00a0
0.03 \u00a0
56,010 \u00a0
102 \u00a0
34 \u00a0
6
2
2
56,004 \u00a0
100 \u00a0
32 \u00a0
3
0.03 \u00a0
0.06 \u00a0
175,450 \u00a0
542 \u00a0
123 \u00a0
22 \u00a0
6
6
175,428 \u00a0
536 \u00a0
117 \u00a0
4
0.06 \u00a0
0.14 \u00a0
191,388 \u00a0
1,505 \u00a0
144 \u00a0
62 \u00a0
18 \u00a0
11 \u00a0
191,326 \u00a0
1,487 \u00a0
133 \u00a0
5
0.14 \u00a0
0.31 \u00a0
155,059 \u00a0
2,301 \u00a0
221 \u00a0
110 \u00a0
29 \u00a0
19 \u00a0
154,949 \u00a0
2,272 \u00a0
202 \u00a0
6
0.31 \u00a0
0.63 \u00a0
104,105 \u00a0
4,484 \u00a0
119 \u00a0
204 \u00a0
68 \u00a0
7
103,901 \u00a0
4,416 \u00a0
112 \u00a0
7
0.63 \u00a0
1.90 \u00a0
35,006 \u00a0
5,649 \u00a0
138 \u00a0
498 \u00a0
112 \u00a0
10 \u00a0
34,508 \u00a0
5,537 \u00a0
128 \u00a0
8
1.90 \u00a0
7.98 \u00a0
2,936 \u00a0
4,283 \u00a0
95 \u00a0
100 \u00a0
241 \u00a0
6
2,836 \u00a0
4,042 \u00a0
89 \u00a0
9
7.98 \u00a0
25.70 \u00a0
15 \u00a0
451 \u00a0
23 \u00a0
-
44 \u00a0
1
15 \u00a0
407 \u00a0
22 \u00a0
10 \u00a0
25.70 \u00a0
100.00 \u00a0
378 \u00a0
4,665 \u00a0
203 \u00a0
16 \u00a0
108 \u00a0
15 \u00a0
362 \u00a0
4,557 \u00a0
188 \u00a0
11 \u00a0
100.00 \u00a0
100.00 \u00a0
674 \u00a0
445 \u00a0
6,917 \u00a0
29 \u00a0
10 \u00a0
894 \u00a0
645 \u00a0
435 \u00a0
6,023 \u00a0
Total \u00a0
723,836 \u00a0
24,427 \u00a0
8,017 \u00a0
1,047 \u00a0
638 \u00a0
971 \u00a0
722,789 \u00a0
23,789 \u00a0
7,046 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLoansAndAdvancesToCustomersExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2112": {
"value": "Deferred tax assets and liabilities \u00a0
Deferred tax liabilities \u00a0
49 \u00a0
459 \u00a0
-
-
Provision for deferred tax \u00a0
-
-
54 \u00a0
465 \u00a0
Total \u00a0
49 \u00a0
459 \u00a0
54 \u00a0
465 \u00a0
Change in deferred tax \u00a0
Recognised in net \u00a0
Recognised in other \u00a0
Other ad- \u00a0
Realkredit Danmark Group \u00a0
1 January \u00a0
profit for the year
comprehensive income \u00a0
justments \u00a0
31 December \u00a0
2024 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-2 \u00a0
-
-
-
-2 \u00a0
Securities \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Provisions \u00a0
514 \u00a0
-409 \u00a0
-2 \u00a0
-48 \u00a0
55 \u00a0
Other \u00a0
-52 \u00a0
1
-
48 \u00a0
-3 \u00a0
Total \u00a0
459 \u00a0
-408 \u00a0
-2 \u00a0
-
49 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
-241 \u00a0
2023 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-2 \u00a0
-
-
-
-2 \u00a0
Securities \u00a0
2
-3 \u00a0
-
-
-1 \u00a0
Provisions \u00a0
46 \u00a0
485 \u00a0
-17 \u00a0
-
514 \u00a0
Other \u00a0
-3 \u00a0
-49 \u00a0
-
-
-52 \u00a0
Total \u00a0
43 \u00a0
433 \u00a0
-17 \u00a0
-
459 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
434 \u00a0
Change in deferred tax \u00a0
Recognised in net \u00a0
Recognised in other \u00a0
Other ad- \u00a0
Realkredit Danmark A/S \u00a0
1 January \u00a0
profit for the year
comprehensive income \u00a0
justments \u00a0
31 December \u00a0
2024 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Securities \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Provisions \u00a0
515 \u00a0
-409 \u00a0
-2 \u00a0
-48 \u00a0
56 \u00a0
Other \u00a0
-48 \u00a0
-
-
48 \u00a0
-
Total \u00a0
465 \u00a0
-409 \u00a0
-2 \u00a0
-
54 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
-242 \u00a0
2023 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Securities \u00a0
2
-3 \u00a0
-
-
-1 \u00a0
Provisions \u00a0
47 \u00a0
485 \u00a0
-17 \u00a0
-
515 \u00a0
Other \u00a0
-
-48 \u00a0
-
-
-48 \u00a0
Total \u00a0
48 \u00a0
434 \u00a0
-17 \u00a0
-
465 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
434 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2114": {
"value": "Deferred tax assets and liabilities \u00a0
Deferred tax liabilities \u00a0
49 \u00a0
459 \u00a0
-
-
Provision for deferred tax \u00a0
-
-
54 \u00a0
465 \u00a0
Total \u00a0
49 \u00a0
459 \u00a0
54 \u00a0
465 \u00a0
Change in deferred tax \u00a0
Recognised in net \u00a0
Recognised in other \u00a0
Other ad- \u00a0
Realkredit Danmark Group \u00a0
1 January \u00a0
profit for the year
comprehensive income \u00a0
justments \u00a0
31 December \u00a0
2024 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-2 \u00a0
-
-
-
-2 \u00a0
Securities \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Provisions \u00a0
514 \u00a0
-409 \u00a0
-2 \u00a0
-48 \u00a0
55 \u00a0
Other \u00a0
-52 \u00a0
1
-
48 \u00a0
-3 \u00a0
Total \u00a0
459 \u00a0
-408 \u00a0
-2 \u00a0
-
49 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
-241 \u00a0
2023 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-2 \u00a0
-
-
-
-2 \u00a0
Securities \u00a0
2
-3 \u00a0
-
-
-1 \u00a0
Provisions \u00a0
46 \u00a0
485 \u00a0
-17 \u00a0
-
514 \u00a0
Other \u00a0
-3 \u00a0
-49 \u00a0
-
-
-52 \u00a0
Total \u00a0
43 \u00a0
433 \u00a0
-17 \u00a0
-
459 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
434 \u00a0
Change in deferred tax \u00a0
Recognised in net \u00a0
Recognised in other \u00a0
Other ad- \u00a0
Realkredit Danmark A/S \u00a0
1 January \u00a0
profit for the year
comprehensive income \u00a0
justments \u00a0
31 December \u00a0
2024 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Securities \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Provisions \u00a0
515 \u00a0
-409 \u00a0
-2 \u00a0
-48 \u00a0
56 \u00a0
Other \u00a0
-48 \u00a0
-
-
48 \u00a0
-
Total \u00a0
465 \u00a0
-409 \u00a0
-2 \u00a0
-
54 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
-242 \u00a0
2023 \u00a0
Intangible assets \u00a0
-
-
-
-
-
Tangible assets \u00a0
-1 \u00a0
-
-
-
-1 \u00a0
Securities \u00a0
2
-3 \u00a0
-
-
-1 \u00a0
Provisions \u00a0
47 \u00a0
485 \u00a0
-17 \u00a0
-
515 \u00a0
Other \u00a0
-
-48 \u00a0
-
-
-48 \u00a0
Total \u00a0
48 \u00a0
434 \u00a0
-17 \u00a0
-
465 \u00a0
Adjustment of prior-year tax charges included in total \u00a0
434 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfTaxReceivablesAndPayablesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2115": {
"value": "Assets temporarily taken over \u00a0
Assets temporarily taken over consist of properties taken over in a forced sale under non-performing loan agreements. \u00a0
The properties are expected to be sold through a real-estate agent within one year from the takeover date. \u00a0
In 2024, the Group took over properties for DKK 13 million (2023: DKK 24 million). The effect on profit or loss on properties taken over was \u00a0
DKK 0 million (2023: DKK 0 million). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2116": {
"value": "Other assets \u00a0
Interest due \u00a0
496 \u00a0
505 \u00a0
496 \u00a0
505 \u00a0
Pension assets \u00a0
110 \u00a0
121 \u00a0
110 \u00a0
121 \u00a0
Lease assets \u00a0
72 \u00a0
107 \u00a0
-
-
Other assets \u00a0
497 \u00a0
468 \u00a0
457 \u00a0
429 \u00a0
Total \u00a0
1,175 \u00a0
1,201 \u00a0
1,063 \u00a0
1,055 \u00a0
Other liabilities \u00a0
Interest accrued \u00a0
6,386 \u00a0
6,431 \u00a0
6,386 \u00a0
6,431 \u00a0
Reserves in early series subject to a reimbursement obligation* \u00a0
2
2
-
-
Lease liabilities \u00a0
72 \u00a0
107 \u00a0
-
-
Other creditors \u00a0
247 \u00a0
415 \u00a0
236 \u00a0
401 \u00a0
Total \u00a0
6,707 \u00a0
6,955 \u00a0
6,622 \u00a0
6,832 \u00a0
* Recognised in the balance sheet of the parent company, Realkredit Danmark A/S, under \u201cProvisions\u201d. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLeasesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2118": {
"value": "Other assets \u00a0
Interest due \u00a0
496 \u00a0
505 \u00a0
496 \u00a0
505 \u00a0
Pension assets \u00a0
110 \u00a0
121 \u00a0
110 \u00a0
121 \u00a0
Lease assets \u00a0
72 \u00a0
107 \u00a0
-
-
Other assets \u00a0
497 \u00a0
468 \u00a0
457 \u00a0
429 \u00a0
Total \u00a0
1,175 \u00a0
1,201 \u00a0
1,063 \u00a0
1,055 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2119": {
"value": "Other assets \u00a0
Interest due \u00a0
496 \u00a0
505 \u00a0
496 \u00a0
505 \u00a0
Pension assets \u00a0
110 \u00a0
121 \u00a0
110 \u00a0
121 \u00a0
Lease assets \u00a0
72 \u00a0
107 \u00a0
-
-
Other assets \u00a0
497 \u00a0
468 \u00a0
457 \u00a0
429 \u00a0
Total \u00a0
1,175 \u00a0
1,201 \u00a0
1,063 \u00a0
1,055 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfPrepaymentsAndOtherAssetsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2122": {
"value": "Due to credit institutions and central banks \u00a0
On demand \u00a0
-
-
-
-
3 months or less \u00a0
-
-
-
-
3-12 months \u00a0
-
2,000 \u00a0
-
2,000 \u00a0
1-5 years \u00a0
3,500 \u00a0
-
3,500 \u00a0
-
Total \u00a0
3,500 \u00a0
2,000 \u00a0
3,500 \u00a0
2,000 \u00a0
At fair value \u00a0
3,500 \u00a0
2,000 \u00a0
3,500 \u00a0
2,000 \u00a0
Portion attributable to repo transactions \u00a0
-
-
-
-
In 2024, repo transactions of DKK 3,121 million were offset against reverse transactions (2023: DKK 7,099 million). \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDepositsFromBanksExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2125": {
"value": "Issued mortgage bonds at fair value \u00a0
Issued mortgage bonds, nominal value* \u00a0
877,251 \u00a0
849,818 \u00a0
877,251 \u00a0
849,818 \u00a0
Fair value adjustment \u00a0
-37,807 \u00a0
-50,919 \u00a0
-37,807 \u00a0
-50,919 \u00a0
Issued mortgage bonds at fair value, before set-off \u00a0
839,444 \u00a0
798,899 \u00a0
839,444 \u00a0
798,899 \u00a0
Set-off of own mortgage bonds at fair value \u00a0
77,319 \u00a0
42,390 \u00a0
77,319 \u00a0
42,390 \u00a0
Issued mortgage bonds at fair value \u00a0
762,125 \u00a0
756,509 \u00a0
762,125 \u00a0
756,509 \u00a0
The fair value is based on quoted prices. \u00a0
0-1 month \u00a0
72,726 \u00a0
42,351 \u00a0
72,726 \u00a0
42,351 \u00a0
1-3 months \u00a0
-
-
-
-
3-12 months \u00a0
65,910 \u00a0
116,441 \u00a0
65,910 \u00a0
116,441 \u00a0
1-5 years \u00a0
371,322 \u00a0
334,680 \u00a0
371,322 \u00a0
334,680 \u00a0
5-10 years \u00a0
84,644 \u00a0
95,760 \u00a0
84,644 \u00a0
95,760 \u00a0
Over 10 years \u00a0
167,523 \u00a0
167,277 \u00a0
167,523 \u00a0
167,277 \u00a0
Total \u00a0
762,125 \u00a0
756,509 \u00a0
762,125 \u00a0
756,509 \u00a0
* Portion pre-issued \u00a0
56,271 \u00a0
30,924 \u00a0
56,271 \u00a0
30,924 \u00a0
* Portion drawn at 2 January 2025, or 2 January 2024 \u00a0
73,007 \u00a0
36,070 \u00a0
73,007 \u00a0
36,070 \u00a0
*In 2024, Realkredit Danmark issued bonds under the green bond framework, with a nominal value of DKK 29,126 million outstanding at the end \u00a0
of 2024 (2023: DKK 27,153 million). \u00a0
Fair value adjustment for the credit risk on issued mortgage bonds is calculated on the basis of the option-adjusted spread (OAS). The calculation \u00a0
incorporates maturity, nominal holdings and OAS sensitivity. As a number of estimates are made, the calculation is subject to uncertainty. \u00a0
In 2024, the Danish mortgage bond yield spread increased and the fair value of issued mortgage bonds thus decreased by approximately DKK 7.0 \u00a0
billion. In 2023, the Danish mortgage bond yield spread increased, causing a decrease in the fair value of issued mortgage bonds. Based on the \u00a0
outstanding portfolio at the end of 2024, Realkredit Danmark estimates that there has been a net increase of the spread since the issuance of the \u00a0
bonds, which produces a positive fair value of approximately DKK 1.37 billion (2023: negative fair value of approximately DKK 0.05 billion). \u00a0
Net profit and shareholders\u2019 equity remain unaffected by the change in fair value because the spread increase, decrease the value of mortgage \u00a0
loans correspondingly. \u00a0
Fair value adjustment for the credit risk on issued mortgage bonds may also be calculated on the basis of changes in similar AAA rated mortgage \u00a0
bonds offered by other Danish issuers. The market for such bonds is characterised by an absence of measurable price differences between bonds \u00a0
with similar features from different issuers. Using this method, no fair value adjustment for credit risk in 2024 or the period since the issue has \u00a0
been required. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBorrowingsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2126": {
"value": "Issued mortgage bonds at fair value \u00a0
Issued mortgage bonds, nominal value* \u00a0
877,251 \u00a0
849,818 \u00a0
877,251 \u00a0
849,818 \u00a0
Fair value adjustment \u00a0
-37,807 \u00a0
-50,919 \u00a0
-37,807 \u00a0
-50,919 \u00a0
Issued mortgage bonds at fair value, before set-off \u00a0
839,444 \u00a0
798,899 \u00a0
839,444 \u00a0
798,899 \u00a0
Set-off of own mortgage bonds at fair value \u00a0
77,319 \u00a0
42,390 \u00a0
77,319 \u00a0
42,390 \u00a0
Issued mortgage bonds at fair value \u00a0
762,125 \u00a0
756,509 \u00a0
762,125 \u00a0
756,509 \u00a0
The fair value is based on quoted prices. \u00a0
0-1 month \u00a0
72,726 \u00a0
42,351 \u00a0
72,726 \u00a0
42,351 \u00a0
1-3 months \u00a0
-
-
-
-
3-12 months \u00a0
65,910 \u00a0
116,441 \u00a0
65,910 \u00a0
116,441 \u00a0
1-5 years \u00a0
371,322 \u00a0
334,680 \u00a0
371,322 \u00a0
334,680 \u00a0
5-10 years \u00a0
84,644 \u00a0
95,760 \u00a0
84,644 \u00a0
95,760 \u00a0
Over 10 years \u00a0
167,523 \u00a0
167,277 \u00a0
167,523 \u00a0
167,277 \u00a0
Total \u00a0
762,125 \u00a0
756,509 \u00a0
762,125 \u00a0
756,509 \u00a0
* Portion pre-issued \u00a0
56,271 \u00a0
30,924 \u00a0
56,271 \u00a0
30,924 \u00a0
* Portion drawn at 2 January 2025, or 2 January 2024 \u00a0
73,007 \u00a0
36,070 \u00a0
73,007 \u00a0
36,070 \u00a0
*In 2024, Realkredit Danmark issued bonds under the green bond framework, with a nominal value of DKK 29,126 million outstanding at the end \u00a0
of 2024 (2023: DKK 27,153 million). \u00a0
Fair value adjustment for the credit risk on issued mortgage bonds is calculated on the basis of the option-adjusted spread (OAS). The calculation \u00a0
incorporates maturity, nominal holdings and OAS sensitivity. As a number of estimates are made, the calculation is subject to uncertainty. \u00a0
In 2024, the Danish mortgage bond yield spread increased and the fair value of issued mortgage bonds thus decreased by approximately DKK 7.0 \u00a0
billion. In 2023, the Danish mortgage bond yield spread increased, causing a decrease in the fair value of issued mortgage bonds. Based on the \u00a0
outstanding portfolio at the end of 2024, Realkredit Danmark estimates that there has been a net increase of the spread since the issuance of the \u00a0
bonds, which produces a positive fair value of approximately DKK 1.37 billion (2023: negative fair value of approximately DKK 0.05 billion). \u00a0
Net profit and shareholders\u2019 equity remain unaffected by the change in fair value because the spread increase, decrease the value of mortgage \u00a0
loans correspondingly. \u00a0
Fair value adjustment for the credit risk on issued mortgage bonds may also be calculated on the basis of changes in similar AAA rated mortgage \u00a0
bonds offered by other Danish issuers. The market for such bonds is characterised by an absence of measurable price differences between bonds \u00a0
with similar features from different issuers. Using this method, no fair value adjustment for credit risk in 2024 or the period since the issue has \u00a0
been required. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDebtSecuritiesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2131": {
"value": "Other liabilities \u00a0
Interest accrued \u00a0
6,386 \u00a0
6,431 \u00a0
6,386 \u00a0
6,431 \u00a0
Reserves in early series subject to a reimbursement obligation* \u00a0
2
2
-
-
Lease liabilities \u00a0
72 \u00a0
107 \u00a0
-
-
Other creditors \u00a0
247 \u00a0
415 \u00a0
236 \u00a0
401 \u00a0
Total \u00a0
6,707 \u00a0
6,955 \u00a0
6,622 \u00a0
6,832 \u00a0
* Recognised in the balance sheet of the parent company, Realkredit Danmark A/S, under \u201cProvisions\u201d. \u00a0
Reserves in early series subject to a reimbursement obligation* \u00a0
Carrying amount, beginning of year \u00a0
2
4
2
4
Utilised \u00a0
-
-2 \u00a0
-
-2 \u00a0
Carrying amount, end of year \u00a0
2
2
2
2
* Recognised in the balance sheet of the Realkredit Danmark Group under \u201cOther liabilities\u201d. \u00a0
Reserves in early series subject to a reimbursement obligation relate to mortgage loan agreements under which the borrower\u2019s share of the series \u00a0
reserve fund is disbursed to the borrower on repayment of the loan in accordance with the terms and conditions applying to the series. Until \u00a0
2031, the Group\u2019s obligations will gradually be reduced in step with individual borrower repayments. Factors that affect the repayment pattern \u00a0
include changes in interest rates, cash flows, etc. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfProvisionsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2132": {
"value": "Other liabilities \u00a0
Interest accrued \u00a0
6,386 \u00a0
6,431 \u00a0
6,386 \u00a0
6,431 \u00a0
Reserves in early series subject to a reimbursement obligation* \u00a0
2
2
-
-
Lease liabilities \u00a0
72 \u00a0
107 \u00a0
-
-
Other creditors \u00a0
247 \u00a0
415 \u00a0
236 \u00a0
401 \u00a0
Total \u00a0
6,707 \u00a0
6,955 \u00a0
6,622 \u00a0
6,832 \u00a0
* Recognised in the balance sheet of the parent company, Realkredit Danmark A/S, under \u201cProvisions\u201d. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2133": {
"value": "Other liabilities \u00a0
Interest accrued \u00a0
6,386 \u00a0
6,431 \u00a0
6,386 \u00a0
6,431 \u00a0
Reserves in early series subject to a reimbursement obligation* \u00a0
2
2
-
-
Lease liabilities \u00a0
72 \u00a0
107 \u00a0
-
-
Other creditors \u00a0
247 \u00a0
415 \u00a0
236 \u00a0
401 \u00a0
Total \u00a0
6,707 \u00a0
6,955 \u00a0
6,622 \u00a0
6,832 \u00a0
* Recognised in the balance sheet of the parent company, Realkredit Danmark A/S, under \u201cProvisions\u201d. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfAccruedExpensesAndOtherLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2135": {
"value": "Risk exposure amount (REA) \u00a0
Credit risk (IRB approach) \u00a0
129,325 \u00a0
131,784 \u00a0
129,186 \u00a0
131,614 \u00a0
Credit risk (standardised approach) \u00a0
17,383 \u00a0
18,671 \u00a0
17,509 \u00a0
18,791 \u00a0
Counterparty risk \u00a0
146 \u00a0
125 \u00a0
146 \u00a0
125 \u00a0
Total credit risk \u00a0
146,854 \u00a0
150,580 \u00a0
146,841 \u00a0
150,530 \u00a0
Market risk \u00a0
358 \u00a0
372 \u00a0
358 \u00a0
372 \u00a0
Operational risk \u00a0
9,057 \u00a0
9,292 \u00a0
9,057 \u00a0
9,292 \u00a0
Total \u00a0
156,269 \u00a0
160,244 \u00a0
156,256 \u00a0
160,194 \u00a0
The total capital and tier 1 capital ratios are calculated in accordance with the CRR/CRD. \u00a0
rd.dk provides more details about Realkredit Danmark\u2019s solvency need. The solvency need calculation is not covered by the statutory audit. \u00a0
RISK MANAGEMENT \u00a0
The principal risk faced by Realkredit Danmark is credit risk on mort- \u00a0
gage loans. Realkredit Danmark only has limited exposure to market risk \u00a0
due to the balance principle and the fact that Realkredit Danmark does \u00a0
not invest in equities. The principal market risk is interest rate risk on \u00a0
Realkredit Danmark\u2019s proprietary portfolio of bonds. \u00a0
In recent years, Realkredit Danmark has increased its focus on non-finan- \u00a0
cial risks like operational risks and risks related to financial crime. \u00a0
Total capital \u00a0
The purpose of capital management is to ensure efficient use of capital in \u00a0
relation to risk tolerance and business development. The Group must \u00a0
have sufficient capital to comply with regulatory capital requirements, \u00a0
and the Group has also defined a goal of maintaining bond ratings from \u00a0
external rating agencies that are on a level with those of its peers. \u00a0
The Group met this goal in 2024 by maintaining a total capital ratio of \u00a0
31.9%, well above the regulatory requirement of 19.9%, and AAA rat- \u00a0
ings from SP Global and Scope Ratings. The capital requirement has \u00a0
been covered by tier 1 capital. \u00a0
Credit risk \u00a0
Realkredit Danmark serves mortgage credit customers in Denmark, Sweden \u00a0
and Norway. Realkredit Danmark serves all customer segments in Den- \u00a0
mark, while the strategy in Sweden and Norway is to serve large business \u00a0
customers. Realkredit Danmark\u2019s principal segment is loans to the Personal \u00a0
customer market, which accounts for 52% of lending. Residential accounts \u00a0
for 27%, Urban trade for 16% and Agriculture for the remaining 5%. The \u00a0
current composition of the exposure matches Realkredit Danmark\u2019s target \u00a0
that residential property loans should account for at least two-thirds of the \u00a0
total exposure. \u00a0
In 2024, Realkredit Danmark continued its prudent credit-granting process, \u00a0
accommodating the Group\u2019s existing and new customers. Continuing this \u00a0
prudent credit-granting process will remain the objective in 2025. When \u00a0
granting credit, the Group requires the customer to be able to service a \u00a0
fixed-rate loan with principal repayment. When granting a FlexL\u00e5n\u00ae loan, \u00a0
the customer must also be able to service a fixed-rate loan with principal re- \u00a0
payment with an interest rate equal to a fixed rate over 30 years plus 1 per- \u00a0
centage point however, not less than 4%. \u00a0
The credit risk on a mortgage loan basically derives from two factors; the \u00a0
risk that the borrower is unable to repay the loan and the expected loss if \u00a0
the customer is unable to repay the loan, which largely depends on the \u00a0
value of the property. These two factors are commonly designated by Prob- \u00a0
ability of Default (\u201cPD\u201d) and Loss Given Default (\u201cLGD\u201d). The higher the \u00a0
PD and LGD, the higher risk a loan involves. The value of the property is \u00a0
determined in a property value model. This property value model is regu- \u00a0
larly monitored, and it is also subjected to an annual validation. \u00a0
The credit process widely builds on the two above-mentioned components \u00a0
and the size of the loan. Most often, the Group performs a decentralised as- \u00a0
sessment of whether a customer has the ability and the willingness to repay \u00a0
their loan. However, the Group handles the largest customers at a central \u00a0
corporate centre, which has the expertise to serve this customer segment. \u00a0
When the Group assesses that there is a high credit risk, the credit grant- \u00a0
ing process will be assigned to the central credit department. A high \u00a0
credit risk may arise for less financially strong customers (high PD), but \u00a0
it may also be due to expectations of a high LGD if the credit involves a \u00a0
property type that is difficult to sell, and which may lose much of its \u00a0
value if it has to be sold in a forced sale. Very large loans must be ap- \u00a0
proved by Realkredit Danmark\u2019s Executive Management or Board of Di- \u00a0
rectors. \u00a0
Realkredit Danmark applies customer classification models as a key tool \u00a0
in deciding when to grant the loan. \u00a0
Depending on the customer\u2019s loan facility and customer type, customers \u00a0
are classified using rating models or statistical scoring models. The rating \u00a0
models typically rely on the customer\u2019s financial statements, industry in- \u00a0
formation and an assessment of the customer\u2019s situation in terms of man- \u00a0
agement and competition. The rating is assessed in the central rating de- \u00a0
partment by a rating specialist and a credit officer, before it is fixed. The \u00a0
customer\u2019s rating is translated into a PD. \u00a0
The statistical scoring models rely on factors such as relevant sector in- \u00a0
formation and payment records. The calculated PD is translated into a \u00a0
rating category. \u00a0
The customer classification models break down customers into 11 rating \u00a0
categories, with category 1 being the most creditworthy. \u00a0
Portfolio broken down by customer type and rating category \u00a0
(DKK billions) \u00a0
2024 \u00a0
2023 \u00a0
Rating category \u00a0
Personal \u00a0
Business \u00a0
Total \u00a0
Total \u00a0
1
-
3
3
3
2
58 \u00a0
1
59 \u00a0
56 \u00a0
3
118 \u00a0
61 \u00a0
179 \u00a0
176 \u00a0
4
100 \u00a0
99 \u00a0
199 \u00a0
193 \u00a0
5
66 \u00a0
84 \u00a0
150 \u00a0
158 \u00a0
6
24 \u00a0
88 \u00a0
112 \u00a0
109 \u00a0
7
13 \u00a0
23 \u00a0
36 \u00a0
41 \u00a0
8
2
4
6
7
9
-
-
-
-
10 \u00a0
5
1
6
5
11 \u00a0
5
3
8
8
Total \u00a0
391 \u00a0
367 \u00a0
758 \u00a0
756 \u00a0
Probability of Default (PD) % \u00a0
Rating category \u00a0
Low PD
High PD \u00a0
1
0.00 \u00a0
0.01 \u00a0
2
0.01 \u00a0
0.03 \u00a0
3
0.03 \u00a0
0.06 \u00a0
4
0.06 \u00a0
0.14 \u00a0
5
0.14 \u00a0
0.31 \u00a0
6
0.31 \u00a0
0.63 \u00a0
7
0.63 \u00a0
1.90 \u00a0
8
1.90 \u00a0
7.98 \u00a0
9
7.98 \u00a0
25.70 \u00a0
10 \u00a0
25.70 \u00a0
100.00 \u00a0
11 \u00a0
100.00 \u00a0
100.00 \u00a0
Over the past year, the average defaults probability has remained stable. \u00a0
Interest rates have decreased compared to end-2023, thereby affecting the \u00a0
market value of the loans. The effect is countered by increasing house \u00a0
prices which results in unchanged Loan-to-Value (LTV). For the entire loan \u00a0
portfolio, the LTV stood at 53 at end-2024, compared with 53 at end-2023. \u00a0
The loan portfolio remained very secure. 94% of the loan portfolio was se- \u00a0
cured within 60% of the value of the property, and 98% was secured within \u00a0
80% of the value. \u00a0
Loan portfolio broken down by loan-to-value ratios 2024 \u00a0
Total \u00a0
DKK \u00a0
Sector, % \u00a0
0-20 20-40 40-60 60-80 \u00a0
>80 billions \u00a0
Personal market \u00a0
180 \u00a0
134 \u00a0
63 \u00a0
13 \u00a0
1
391 \u00a0
Urban trade \u00a0
63 \u00a0
42 \u00a0
17 \u00a0
2
-
124 \u00a0
Agriculture \u00a0
17 \u00a0
14 \u00a0
6
-
-
37 \u00a0
Residential rental \u00a0
85 \u00a0
55 \u00a0
36 \u00a0
16 \u00a0
14 \u00a0
206 \u00a0
Weighted distribution \u00a0
46% \u00a0
32% \u00a0
16% \u00a0
4% \u00a0
2% \u00a0
100% \u00a0
Total DKK billions \u00a0
345 \u00a0
245 \u00a0
122 \u00a0
31 \u00a0
15 \u00a0
758 \u00a0
Loan portfolio broken down by loan-to-value ratios 2023 \u00a0
Total \u00a0
DKK \u00a0
Sector, % \u00a0
0-20 20-40 40-60 60-80 \u00a0
>80 billions \u00a0
Personal market \u00a0
178 \u00a0
135 \u00a0
66 \u00a0
14 \u00a0
2
395 \u00a0
Urban trade \u00a0
61 \u00a0
43 \u00a0
17 \u00a0
2
-
123 \u00a0
Agriculture \u00a0
17 \u00a0
13 \u00a0
6
-
-
36 \u00a0
Residential rental \u00a0
84 \u00a0
55 \u00a0
34 \u00a0
15 \u00a0
14 \u00a0
202 \u00a0
Weighted distribution \u00a0
45% \u00a0
33% \u00a0
16% \u00a0
4% \u00a0
2% \u00a0
100% \u00a0
Total DKK billions \u00a0
340 \u00a0
246 \u00a0
123 \u00a0
31 \u00a0
16 \u00a0
756 \u00a0
As shown in the table, no loans with an LTV ratio higher than 80% were \u00a0
granted to customers in one of the four lowest categories. \u00a0
Portfolio broken down by loan to value and rating category 2024 \u00a0
Loan to value \u00a0
Total \u00a0
Rating \u00a0
0-20% 20-40% 40-60% 60-80%
80-100% \u00a0
DKK \u00a0
category \u00a0
billions \u00a0
1
1
1
1
-
-
3
2
32 \u00a0
19 \u00a0
7
1
-
59 \u00a0
3
85 \u00a0
56 \u00a0
25 \u00a0
7
6
179 \u00a0
4
91 \u00a0
60 \u00a0
31 \u00a0
10 \u00a0
7
199 \u00a0
5
66 \u00a0
51 \u00a0
25 \u00a0
5
2
149 \u00a0
6
47 \u00a0
39 \u00a0
22 \u00a0
5
-
113 \u00a0
7
15 \u00a0
12 \u00a0
7
2
-
36 \u00a0
8
3
2
1
-
-
6
9
-
-
-
-
-
-
10 \u00a0
3
2
1
-
-
6
11 \u00a0
2
3
2
1
-
8
Total \u00a0
345 \u00a0
245 \u00a0
122 \u00a0
31 \u00a0
15 \u00a0
758 \u00a0
Portfolio broken down by loan to value and rating category 2023 \u00a0
Loan to value \u00a0
Total \u00a0
Rating \u00a0
0-20% 20-40% 40-60% 60-80%
80-100% \u00a0
DKK \u00a0
category \u00a0
billions \u00a0
1
1
1
1
-
-
3
2
30 \u00a0
18 \u00a0
7
1
-
56 \u00a0
3
82 \u00a0
56 \u00a0
25 \u00a0
7
6
176 \u00a0
4
88 \u00a0
58 \u00a0
31 \u00a0
9
7
193 \u00a0
5
68 \u00a0
54 \u00a0
27 \u00a0
6
3
158 \u00a0
6
46 \u00a0
38 \u00a0
21 \u00a0
4
-
109 \u00a0
7
16 \u00a0
14 \u00a0
8
3
-
41 \u00a0
8
4
2
1
-
-
7
9
-
-
-
-
-
-
10 \u00a0
2
2
1
-
-
5
11 \u00a0
3
3
1
1
-
8
Total \u00a0
340 \u00a0
246 \u00a0
123 \u00a0
31 \u00a0
16 \u00a0
756 \u00a0
Loan impairment charges were at a normalised level and amounted to \u00a0
DKK 333 million in 2024 (2023: an income of DKK 114 million). Loan im- \u00a0
pairment charges were affected by a planned model change of DKK 100 \u00a0
million and a reversal of post-model adjustments of DKK 92 million due to \u00a0
the improved macroeconomic situation. The underlying credit quality re- \u00a0
mained strong. \u00a0
The number of new properties repossessed by Realkredit Danmark at a \u00a0
forced sale in 2024 were 14. The stock of repossessed properties stood at 13 \u00a0
properties at end-2024 compared to 14 properties at the beginning of the \u00a0
year. \u00a0
In a historical context, the number of properties repossessed in 2024 were \u00a0
much lower than during the crisis of the early 1990s, when more than 4,000 \u00a0
properties were repossessed in the worst year. \u00a0
Realkredit Danmark is to a certain extent covered against losses, as Danske \u00a0
Bank provides a loss guarantee for loans granted via the bank. The guaran- \u00a0
tee covers the part of the loan which at the date of disbursement is within \u00a0
the last 20% of the statutory lending limits. Total lending of DKK 178 bil- \u00a0
lion was partly covered by this loss guarantee at the end of 2024. The total \u00a0
guarantee in 2024 amounted to DKK 28 billion. \u00a0
The delinquency rate, calculated as the proportion of due payments remain- \u00a0
ing unpaid 3 months after the last due payment date, generally is on the \u00a0
same level in 2024 compared with 2023. \u00a0
The chart shows arrears on loans in stage 1 and 2 at 31 December 2024. \u00a0
Total arrears on loans in stage 1 and 2 amounted to DKK 2.6 million at \u00a0
the end of 2024, whereof 85% are less than three months old. \u00a0
Forbearance practices \u00a0
Realkredit Danmark adopts forbearance plans to assist customers in fi- \u00a0
nancial difficulty. Concessions granted to customers cancellation of out- \u00a0
standing fees, waiver of covenant enforcement and debt forgiveness. For- \u00a0
bearance plans must comply with Realkredit Danmark\u2019s Credit Policy. \u00a0
They are used as an instrument to retain long-term business relationships \u00a0
during economic downturns if there is a realistic possibility that the cus- \u00a0
tomer will be able to meet its obligations again or are used for minimising \u00a0
losses in the event of default. \u00a0
Realkredit Danmark applies the European Banking Authority\u2019s (the \u00a0
EBA\u2019s) definition of loans subject to forbearance measures. The EBA \u00a0
definition states that a probation period of a minimum of two years must \u00a0
pass from the date when forborne exposures are considered to be per- \u00a0
forming again. Forbearance measures lead to changes in staging for im- \u00a0
pairment purposes. \u00a0
The forbearance figure has been updated in 2024 to align with Danske \u00a0
Bank Group. At 31 December 2024, the total exposure to loans with for- \u00a0
bearance terms amounted to DKK 0.9 billion, compared to DKK 1.4 bil- \u00a0
lion as at 31 December 2023 under the updated method. \u00a0
Arrears \u00a0
Loan portfolio \u00a0
Loan to value \u00a0
Arrears \u00a0
(DKK millions) \u00a0
%
Sept. paym. in % \u00a0
2024 \u00a0
2023 \u00a0
2024 \u00a0
2023 \u00a0
2024 \u00a0
2023 \u00a0
Private market \u00a0
390,737 \u00a0
395,023 \u00a0
49 \u00a0
50 \u00a0
0.13 \u00a0
0.14 \u00a0
Urban trade \u00a0
124,081 \u00a0
201,808 \u00a0
44 \u00a0
45 \u00a0
0.20 \u00a0
0.02 \u00a0
Agriculture \u00a0
37,241 \u00a0
36,910 \u00a0
48 \u00a0
47 \u00a0
0.29 \u00a0
0.15 \u00a0
Residential rental \u00a0
206,317 \u00a0
122,539 \u00a0
64 \u00a0
65 \u00a0
0.01 \u00a0
0.01 \u00a0
Total \u00a0
758,376 \u00a0
756,280 \u00a0
53 \u00a0
53 \u00a0
0.11 \u00a0
0.06 \u00a0
Sustainability risk \u00a0
As result of current or future environmental, social and governance (ESG) \u00a0
events or conditions, Realkredit Danmark may be exposed to sustainability \u00a0
risk. Such events are considered external factors that could impact existing \u00a0
risks. \u00a0
In the long term, credit risk is deemed to be the risk type most materially af- \u00a0
fected by sustainability risk. Climate risk is currently the most urgent of all \u00a0
ESG-related drivers capable of affecting the credit risk of Realkredit Dan- \u00a0
mark. From a financial materiality perspective, climate-related risks have \u00a0
been deemed most relevant for the lending activities of Realkredit Dan- \u00a0
mark. Climate risk pertains to transition risks, which are the risks associated \u00a0
with shifting to a low-carbon economy, and to physical risks arising from \u00a0
projected climate changes, including both long-term shifts (chronic \u00a0
changes) and event-driven changes (acute changes) to weather patterns. \u00a0
In alignment with the Danske Bank Group (the Group) Realkredit Danmark \u00a0
takes a risk-based approach when prioritising risk management efforts for \u00a0
credit portfolios that are likely to be most exposed to transition and physical \u00a0
risks. For that purpose, the Danske Bank Group\u2019s climate risk heat map is \u00a0
based on a mix of qualitative and quantitative input to define the credit ex- \u00a0
posures most exposed to transition and physical risks. The climate heat map \u00a0
gives an indication of the size of the exposure at risk but does not include \u00a0
the expected stress effects such as impairment charges. Such quantitative \u00a0
measures are to be assessed through scenario analysis and future stress test- \u00a0
ing. Climate scenario analyses are already being performed, following the \u00a0
recommendations of the Taskforce on Climate-related Financial Disclo- \u00a0
sures (TCFD) for key sectors for both transition risk and physical risk, such \u00a0
as for agriculture and property portfolios. The Danske Bank Group will \u00a0
continue to refine the climate risk heat map as more climate risk data be- \u00a0
comes available to support the identification of both transition and physical \u00a0
risks for the purpose of determining financial materiality. However, conclu- \u00a0
sions have not led to adjustments to staging or expected credit losses, as the \u00a0
impacts either manifest over a longer time period than loan maturities, or as \u00a0
transition risks are concentrated on sectors where downside risks have al- \u00a0
ready been recognized in Realkredit Danmark\u2019s expected credit losses, one \u00a0
example being the agriculture portfolios. \u00a0
Physical risks are identified mainly for collateral-related exposure (flooding \u00a0
risk, in particular) by using data on historically worst flooding events and \u00a0
most extreme climate projections. As a result, assessments are considered to \u00a0
be conservative. Flooding risk is the primary physical risk hazard to be \u00a0
taken into consideration in the Nordic countries. The Group\u2019s and thereby \u00a0
Realkredit Danmark\u2019s risks associated with flooding risk are managed pri- \u00a0
marily at the portfolio level. \u00a0
See Danske Bank Group\u2019s risk management report; Risk Management 2024 \u00a0
for more information on sustainability risk and Danske Bank Group\u2019s addi- \u00a0
tional Pillar III Disclosures for more information on climate risk. The publi- \u00a0
cations are available at danskebank.com/ir. The publications are not cov- \u00a0
ered by the statutory audit. \u00a0
Single-name concentration \u00a0
Limits are set on credit risk exposures to single names, thus protecting the \u00a0
Group from excessive losses resulting from the default of a single customer \u00a0
group. The limits on large exposures are defined within the large exposure \u00a0
restrictions of article 391 of the Capital Requirements Regulation (EU) No \u00a0
575/2013 (CRR). The exposure to a single customer or a group of related \u00a0
customers, after deduction of particularly secure claims, may not exceed \u00a0
25% of the capital base. In 2024, the Group\u2019s exposures did not exceed \u00a0
these limits. \u00a0
Market risk \u00a0
Market risk is the risk of losses because of changes in market prices and in- \u00a0
terest rates. Realkredit Danmark\u2019s Board of Directors defines the overall \u00a0
framework for interest rate, equity market and exchange rate risks in ac- \u00a0
cordance with the limits laid down in the Danish Mortgage Credit Loans \u00a0
and Mortgage Credit Bonds, etc. Act. Realkredit Danmark calculates, moni- \u00a0
tors and reports these risks on a regular basis, and the Group pursues a pol- \u00a0
icy of only having limited market risk exposure. By complying with the \u00a0
statutory principle of balance, Realkredit Danmark eliminates interest rate, \u00a0
exchange rate and liquidity risks on most of its assets and liabilities. \u00a0
Interest rate risk \u00a0
Realkredit Danmark calculates interest rate risk as the change in net present \u00a0
value from an upward parallel shift in interest rates of 1 percentage point. \u00a0
In accordance with Danish law, the cash flows received from interest pay- \u00a0
ments and instalments on mortgage loans and payments made on issued \u00a0
bonds may not result in an interest rate risk exceeding 1% of Realkredit \u00a0
Danmark\u2019s total capital, that is, DKK 498 million. At the end of 2024, this \u00a0
interest rate risk amounted to DKK 4 million against DKK 3 million in \u00a0
2023. \u00a0
The interest rate risk on other assets and liabilities and on off-balance-sheet \u00a0
items, including in particular the proprietary investment portfolio, may not \u00a0
exceed 8% of the total capital, or DKK 3,982 million, in accordance with \u00a0
Danish law. At the end of 2024, the interest rate risk on these items \u00a0
amounted to DKK 997 million, against DKK 958 million the year before. \u00a0
At the end of 2024, the total interest rate risk amounted to DKK 1,001 mil- \u00a0
lion. The year before, Realkredit Danmark\u2019s interest rate risk was DKK 961 \u00a0
million. \u00a0
For a qualitative description of RD\u2019s IRRBB framework, please refer to \u00a0
Danske Bank Group Risk Management Report 2024. \u00a0
In the table below, mortgage loans and the fair value of credit risk is broken down by 11 rating categories and stages 1, 2 and 3 of IFRS 9 (DKK billions). \u00a0
Although Stage 3 and default (rating 11) are generally aligned, a small amount of credit exposure in stage 3 can be found outside default. This is due to im- \u00a0
pairment staging being updated monthly (after each month-end), whereas default is updated daily. For the same reason, some credit exposure in default is \u00a0
outside stage 3. \u00a0
31 December 2024 \u00a0
PD level \u00a0
Gross Exposure \u00a0
Expected Credit Loss \u00a0
Net Exposure \u00a0
Rating \u00a0
category \u00a0
Lower \u00a0
Upper \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
1
0.00 \u00a0
0.01 \u00a0
3,334 \u00a0
-
-
-
-
-
3,334 \u00a0
-
-
2
0.01 \u00a0
0.03 \u00a0
58,590 \u00a0
166 \u00a0
48 \u00a0
6
3
5
58,584 \u00a0
163 \u00a0
43 \u00a0
3
0.03 \u00a0
0.06 \u00a0
177,729 \u00a0
656 \u00a0
135 \u00a0
19 \u00a0
7
11 \u00a0
177,710 \u00a0
649 \u00a0
124 \u00a0
4
0.06 \u00a0
0.14 \u00a0
197,008 \u00a0
1,932 \u00a0
186 \u00a0
49 \u00a0
20 \u00a0
15 \u00a0
196,959 \u00a0
1,912 \u00a0
171 \u00a0
5
0.14 \u00a0
0.31 \u00a0
145,043 \u00a0
3,250 \u00a0
220 \u00a0
90 \u00a0
35 \u00a0
22 \u00a0
144,953 \u00a0
3,215 \u00a0
198 \u00a0
6
0.31 \u00a0
0.63 \u00a0
106,704 \u00a0
5,834 \u00a0
123 \u00a0
209 \u00a0
83 \u00a0
12 \u00a0
106,495 \u00a0
5,751 \u00a0
111 \u00a0
7
0.63 \u00a0
1.90 \u00a0
30,157 \u00a0
6,167 \u00a0
140 \u00a0
461 \u00a0
127 \u00a0
14 \u00a0
29,696 \u00a0
6,040 \u00a0
126 \u00a0
8
1.90 \u00a0
7.98 \u00a0
1,752 \u00a0
4,594 \u00a0
52 \u00a0
60 \u00a0
372 \u00a0
8
1,692 \u00a0
4,222 \u00a0
44 \u00a0
9
7.98 \u00a0
25.70 \u00a0
29 \u00a0
298 \u00a0
10 \u00a0
-
32 \u00a0
1
29 \u00a0
266 \u00a0
9
10 \u00a0
25.70 \u00a0
100.00 \u00a0
741 \u00a0
4,967 \u00a0
251 \u00a0
20 \u00a0
163 \u00a0
20 \u00a0
721 \u00a0
4,804 \u00a0
231 \u00a0
11 \u00a0
100.00 \u00a0
100.00 \u00a0
791 \u00a0
519 \u00a0
6,950 \u00a0
34 \u00a0
15 \u00a0
924 \u00a0
757 \u00a0
504 \u00a0
6,026 \u00a0
Total \u00a0
721,878 \u00a0
28,383 \u00a0
8,115 \u00a0
948 \u00a0
857 \u00a0
1,032 \u00a0
720,930 \u00a0
27,526 \u00a0
7,083 \u00a0
31 December 2023 \u00a0
PD level \u00a0
Gross Exposure \u00a0
Expected Credit Loss \u00a0
Net Exposure \u00a0
Rating \u00a0
category \u00a0
Lower \u00a0
Upper \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
Stage 1 \u00a0
Stage 2 \u00a0
Stage 3 \u00a0
1
0.00 \u00a0
0.01 \u00a0
2,815 \u00a0
-
-
-
-
-
2,815 \u00a0
-
-
2
0.01 \u00a0
0.03 \u00a0
56,010 \u00a0
102 \u00a0
34 \u00a0
6
2
2
56,004 \u00a0
100 \u00a0
32 \u00a0
3
0.03 \u00a0
0.06 \u00a0
175,450 \u00a0
542 \u00a0
123 \u00a0
22 \u00a0
6
6
175,428 \u00a0
536 \u00a0
117 \u00a0
4
0.06 \u00a0
0.14 \u00a0
191,388 \u00a0
1,505 \u00a0
144 \u00a0
62 \u00a0
18 \u00a0
11 \u00a0
191,326 \u00a0
1,487 \u00a0
133 \u00a0
5
0.14 \u00a0
0.31 \u00a0
155,059 \u00a0
2,301 \u00a0
221 \u00a0
110 \u00a0
29 \u00a0
19 \u00a0
154,949 \u00a0
2,272 \u00a0
202 \u00a0
6
0.31 \u00a0
0.63 \u00a0
104,105 \u00a0
4,484 \u00a0
119 \u00a0
204 \u00a0
68 \u00a0
7
103,901 \u00a0
4,416 \u00a0
112 \u00a0
7
0.63 \u00a0
1.90 \u00a0
35,006 \u00a0
5,649 \u00a0
138 \u00a0
498 \u00a0
112 \u00a0
10 \u00a0
34,508 \u00a0
5,537 \u00a0
128 \u00a0
8
1.90 \u00a0
7.98 \u00a0
2,936 \u00a0
4,283 \u00a0
95 \u00a0
100 \u00a0
241 \u00a0
6
2,836 \u00a0
4,042 \u00a0
89 \u00a0
9
7.98 \u00a0
25.70 \u00a0
15 \u00a0
451 \u00a0
23 \u00a0
-
44 \u00a0
1
15 \u00a0
407 \u00a0
22 \u00a0
10 \u00a0
25.70 \u00a0
100.00 \u00a0
378 \u00a0
4,665 \u00a0
203 \u00a0
16 \u00a0
108 \u00a0
15 \u00a0
362 \u00a0
4,557 \u00a0
188 \u00a0
11 \u00a0
100.00 \u00a0
100.00 \u00a0
674 \u00a0
445 \u00a0
6,917 \u00a0
29 \u00a0
10 \u00a0
894 \u00a0
645 \u00a0
435 \u00a0
6,023 \u00a0
Total \u00a0
723,836 \u00a0
24,427 \u00a0
8,017 \u00a0
1,047 \u00a0
638 \u00a0
971 \u00a0
722,789 \u00a0
23,789 \u00a0
7,046 \u00a0
Equity market risk \u00a0
The equity market risk is calculated as the market value of Realkredit \u00a0
Danmark Group\u2019s equity portfolios and holdings in subsidiary and group \u00a0
undertakings etc. The Group intends to maintain strategic share portfolios \u00a0
only and hence the Group has defined very low exposure thresholds with \u00a0
respect to overall equity market risk. At end-2024, the market value and \u00a0
hence the equity market risk amounted to DKK 130 million, against \u00a0
DKK 127 million the year before. The risk relates to the Group's owner- \u00a0
ship of home a/s. \u00a0
Exchange rate risk \u00a0
Realkredit Danmark intends to hedge all currency positions. The exchange \u00a0
rate risk is calculated in accordance with exchange rate indicator 2 of the \u00a0
Danish FSA and may, in accordance with legislation, not exceed 0.1% of \u00a0
the total capital, that is DKK 50 million. At the end of 2024, the exchange \u00a0
rate risk amounted to DKK 2 million, against DKK 1 million the year be- \u00a0
fore. \u00a0
Derivatives \u00a0
2024 \u00a0
2023 \u00a0
Positive market
Negative market \u00a0
Positive market
Negative market \u00a0
(DKK millions) \u00a0
Nominal value \u00a0
value \u00a0
value Nominal
value \u00a0
value \u00a0
value \u00a0
Interest rate contracts \u00a0
Forward/futures bought \u00a0
56,330 \u00a0
2
64 \u00a0
31,028 \u00a0
1
47 \u00a0
Forward/futures sold \u00a0
33,928 \u00a0
21 \u00a0
9
19,895 \u00a0
28 \u00a0
186 \u00a0
Currency contracts \u00a0
Forward/futures bought \u00a0
2
-
-
22 \u00a0
-
-
Forward/futures sold \u00a0
-
-
-
2
-
-
Interest rate and currency contracts held for trading \u00a0
purposes, total \u00a0
23 \u00a0
73 \u00a0
29 \u00a0
233 \u00a0
Outstanding spot transactions \u00a0
Interest rate contracts bought \u00a0
581 \u00a0
1
-
708 \u00a0
1
-
Interest rate contracts sold \u00a0
746 \u00a0
-
-
754 \u00a0
1
-
Total outstanding spot transactions \u00a0
1
-
2
-
All derivatives have a maturity of less than one year. \u00a0
The calculation applies to the Realkredit Danmark Group and Realkredit Danmark A/S. \u00a0
Derivatives \u00a0
The Group does not employ derivatives for hedging purposes in relation \u00a0
to mortgage finance business but exclusively to hedge the interest rate \u00a0
risk on fixed-rate liabilities from issued senior debt and are carried at fair \u00a0
value in the financial statements. The market risk on these instruments is \u00a0
included in the risk calculations mentioned above. \u00a0
Pension risk \u00a0
The Group\u2019s pension risk is the risk of a pension shortfall in the Group\u2019s \u00a0
defined benefit plans, which means that it will have to make additional \u00a0
contributions to cover its pension obligations to former employees. The \u00a0
Group aims to reduce the pension risk of the defined benefit pension \u00a0
plans in the same way that it handles other risks in the Group. To achieve \u00a0
this goal, the Group matches pension obligations with assets similar \u00a0
mainly in terms of maturity and volatility. \u00a0
Liquidity risk \u00a0
Realkredit Danmark finances its lending activities by issuing bonds on an \u00a0
ongoing basis. Consequently, Realkredit Danmark\u2019s main liquidity risk is \u00a0
not related to the ongoing funding of loans but to the refinancing auctions \u00a0
at which large volumes of bonds need to be sold during a short period of \u00a0
time. Realkredit Danmark constantly seeks to mitigate this risk by \u00a0
spreading the auctions across the year and giving borrowers an incentive \u00a0
to opt for loans without or with less frequent needs for refinancing. \u00a0
The refinancing auctions are also supported by the well-functioning Dan- \u00a0
ish bond market. The refinancing risk is governed by the Danish FSA by \u00a0
two indicators in the supervisory diamond for mortgage credit institutions \u00a0
in Denmark. \u00a0
Non-financial risks \u00a0
In recent years, Realkredit Danmark has focused increasingly on non-fi- \u00a0
nancial risks. Realkredit Danmark continuously assesses non-financial \u00a0
risks in existing Critical or Important Functions and products and con- \u00a0
duct ongoing reporting to the Board of Directors on non-financial risks. \u00a0
Prior to launch of a new product the non-financial risks are assessed, and \u00a0
the product is approved. \u00a0
Realkredit Danmark registers operational events and conducts event man- \u00a0
agement to ensure timely and appropriate handling of events to minimise \u00a0
the impact on Customers and Realkredit Danmark and prevent reoccur- \u00a0
rence. Realkredit Danmark strives to learn from materialised events and \u00a0
observed near-misses to continuously improve its operational risk man- \u00a0
agement framework. Realkredit Danmark notifies relevant authorities on \u00a0
significant events. \u00a0
Realkredit Danmark\u2019s IT portfolio is outsourced to Danske Bank includ- \u00a0
ing Digital Operational Resilience. Realkredit Danmark is part of Danske \u00a0
Bank\u2019s IT Risk and Security Management and Data Risk Management \u00a0
framework. \u00a0
Compliance \u00a0
Realkredit Danmark is exposed to compliance risks, such as financial \u00a0
crime risks, market integrity risks, outsourcing risks, GDPR risks and \u00a0
other governance and conduct risks. See, also Compliance under \u201cMan- \u00a0
agement\u201d. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfFinancialRiskManagementExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2137": {
"value": "Assets deposited as collateral \u00a0
Realkredit Danmark deposits securities as collateral in connection with repo and securities transactions undertaken on usual terms and conditions \u00a0
for such agreements. \u00a0
In connection with clearing, Realkredit Danmark has deposited the \u00a0
following securities with the Danish Central Bank \u00a0
Bonds at fair value \u00a0
2,567 \u00a0
3,727 \u00a0
2,567 \u00a0
3,727 \u00a0
Portion issued by Realkredit Danmark \u00a0
-
-
-
-
Assets sold under repo transactions \u00a0
Bonds at fair value \u00a0
-
-
-
-
Portion issued by Realkredit Danmark \u00a0
-
-
-
-
At 31 December 2024, mortgage lending totalling DKK 755,539 million and other assets totalling DKK 5,411 million were registered as security \u00a0
for issued mortgage bonds, including mortgage-covered bonds, and issued bonds at amortised cost (2023: DKK 753,624 million and DKK 6,298 \u00a0
million). \u00a0
Pursuant to Danish mortgage credit legislation, issued mortgage bonds, including mortgage-covered bonds, are secured against the underlying \u00a0
mortgage loans. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCollateralExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2138": {
"value": "Contingent liabilities \u00a0
Owing to its size and business volume, Realkredit Danmark Group is continually a party to various disputes. The Group does not expect the outcomes \u00a0
of the disputes pending to have any material effect on its financial position. \u00a0
As the sponsoring employer, Realkredit Danmark is liable for the pension obligations of Kreditforeningen Danmarks Pensionsafviklingskasse. The \u00a0
pension fund and the Group\u2019s defined benefit plan have not accepted new members since 1971. \u00a0
In connection with implementation of the EU Bank Recovery and Resolution Directive, a Danish resolution fund has been established. The resolution \u00a0
fund must amount to 1% of the covered deposits of all Danish credit institutions by 31 December 2024. The first contribution to the fund was made at \u00a0
31 December 2015. The individual institution must make contributions to the fund on the basis of its size and risk relative to other credit institutions \u00a0
in Denmark. The intention is that losses should be covered by the annual contributions made by the participating credit institutions. If sufficient \u00a0
means are not available in the resolution fund, extraordinary contributions can be required of up to three times the latest annual contribution. \u00a0
Realkredit Danmark pays an annual contribution to the resolution fund. The contribution to the Danish resolution fund is recognised as expenses. \u00a0
The company is jointly taxed with all Danish companies in the Danske Bank Group and are jointly and severally liable for their Danish income tax, \u00a0
withholding tax, etc. \u00a0
Realkredit Danmark operates out of leased premises. Leases are concluded by the parent company. Realkredit Danmark pays monthly rent to the \u00a0
parent company. \u00a0
Guarantees and indemnities issued by the Group, irrevocable loan commitments regarding reverse mortgages and other commitments not recognised \u00a0
in the balance sheet amount to: \u00a0
Realkredit Danmark Group \u00a0
Realkredit Danmark A/S \u00a0
(DKK millions) \u00a0
2024 \u00a0
2023 \u00a0
2024 \u00a0
2023 \u00a0
Other contingent liabilities \u00a0
Irrevocable loan commitments \u00a0
23,656 \u00a0
17,198 \u00a0
23,654 \u00a0
17,196 \u00a0
Other commitments \u00a0
27 \u00a0
27 \u00a0
7
7
Total \u00a0
23,683 \u00a0
17,225 \u00a0
23,661 \u00a0
17,203 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsAndContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2139": {
"value": "Contingent liabilities \u00a0
Owing to its size and business volume, Realkredit Danmark Group is continually a party to various disputes. The Group does not expect the outcomes \u00a0
of the disputes pending to have any material effect on its financial position. \u00a0
As the sponsoring employer, Realkredit Danmark is liable for the pension obligations of Kreditforeningen Danmarks Pensionsafviklingskasse. The \u00a0
pension fund and the Group\u2019s defined benefit plan have not accepted new members since 1971. \u00a0
In connection with implementation of the EU Bank Recovery and Resolution Directive, a Danish resolution fund has been established. The resolution \u00a0
fund must amount to 1% of the covered deposits of all Danish credit institutions by 31 December 2024. The first contribution to the fund was made at \u00a0
31 December 2015. The individual institution must make contributions to the fund on the basis of its size and risk relative to other credit institutions \u00a0
in Denmark. The intention is that losses should be covered by the annual contributions made by the participating credit institutions. If sufficient \u00a0
means are not available in the resolution fund, extraordinary contributions can be required of up to three times the latest annual contribution. \u00a0
Realkredit Danmark pays an annual contribution to the resolution fund. The contribution to the Danish resolution fund is recognised as expenses. \u00a0
The company is jointly taxed with all Danish companies in the Danske Bank Group and are jointly and severally liable for their Danish income tax, \u00a0
withholding tax, etc. \u00a0
Realkredit Danmark operates out of leased premises. Leases are concluded by the parent company. Realkredit Danmark pays monthly rent to the \u00a0
parent company. \u00a0
Guarantees and indemnities issued by the Group, irrevocable loan commitments regarding reverse mortgages and other commitments not recognised \u00a0
in the balance sheet amount to: \u00a0
Realkredit Danmark Group \u00a0
Realkredit Danmark A/S \u00a0
(DKK millions) \u00a0
2024 \u00a0
2023 \u00a0
2024 \u00a0
2023 \u00a0
Other contingent liabilities \u00a0
Irrevocable loan commitments \u00a0
23,656 \u00a0
17,198 \u00a0
23,654 \u00a0
17,196 \u00a0
Other commitments \u00a0
27 \u00a0
27 \u00a0
7
7
Total \u00a0
23,683 \u00a0
17,225 \u00a0
23,661 \u00a0
17,203 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfClaimsAndBenefitsPaidExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2140": {
"value": "Contingent liabilities \u00a0
Owing to its size and business volume, Realkredit Danmark Group is continually a party to various disputes. The Group does not expect the outcomes \u00a0
of the disputes pending to have any material effect on its financial position. \u00a0
As the sponsoring employer, Realkredit Danmark is liable for the pension obligations of Kreditforeningen Danmarks Pensionsafviklingskasse. The \u00a0
pension fund and the Group\u2019s defined benefit plan have not accepted new members since 1971. \u00a0
In connection with implementation of the EU Bank Recovery and Resolution Directive, a Danish resolution fund has been established. The resolution \u00a0
fund must amount to 1% of the covered deposits of all Danish credit institutions by 31 December 2024. The first contribution to the fund was made at \u00a0
31 December 2015. The individual institution must make contributions to the fund on the basis of its size and risk relative to other credit institutions \u00a0
in Denmark. The intention is that losses should be covered by the annual contributions made by the participating credit institutions. If sufficient \u00a0
means are not available in the resolution fund, extraordinary contributions can be required of up to three times the latest annual contribution. \u00a0
Realkredit Danmark pays an annual contribution to the resolution fund. The contribution to the Danish resolution fund is recognised as expenses. \u00a0
The company is jointly taxed with all Danish companies in the Danske Bank Group and are jointly and severally liable for their Danish income tax, \u00a0
withholding tax, etc. \u00a0
Realkredit Danmark operates out of leased premises. Leases are concluded by the parent company. Realkredit Danmark pays monthly rent to the \u00a0
parent company. \u00a0
Guarantees and indemnities issued by the Group, irrevocable loan commitments regarding reverse mortgages and other commitments not recognised \u00a0
in the balance sheet amount to: \u00a0
Realkredit Danmark Group \u00a0
Realkredit Danmark A/S \u00a0
(DKK millions) \u00a0
2024 \u00a0
2023 \u00a0
2024 \u00a0
2023 \u00a0
Other contingent liabilities \u00a0
Irrevocable loan commitments \u00a0
23,656 \u00a0
17,198 \u00a0
23,654 \u00a0
17,196 \u00a0
Other commitments \u00a0
27 \u00a0
27 \u00a0
7
7
Total \u00a0
23,683 \u00a0
17,225 \u00a0
23,661 \u00a0
17,203 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfContingentLiabilitiesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2141": {
"value": "Realkredit Danmark Group \u00a0
Realkredit Danmark A/S \u00a0
(DKK millions) \u00a0
2024 \u00a0
2023 \u00a0
2024 \u00a0
2023 \u00a0
Other contingent liabilities \u00a0
Irrevocable loan commitments \u00a0
23,656 \u00a0
17,198 \u00a0
23,654 \u00a0
17,196 \u00a0
Other commitments \u00a0
27 \u00a0
27 \u00a0
7
7
Total \u00a0
23,683 \u00a0
17,225 \u00a0
23,661 \u00a0
17,203 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCommitmentsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2142": {
"value": "Related party transactions \u00a0
Transactions between related parties are concluded and settled on an arm\u2019s length or on a cost-reimbursement basis. No unusual transactions \u00a0
were made with associates and group undertakings in 2024. \u00a0
Realkredit Danmark A/S made the below-mentioned major intra-group transactions with companies directly or indirectly associated with the \u00a0
Group/company. Danske Bank A/S is the parent company of Realkredit Danmark A/S. \u00a0
Realkredit Danmark Group \u00a0
Realkredit Danmark A/S \u00a0
2024 \u00a0
2023 \u00a0
2024 \u00a0
2023 \u00a0
Fees, etc. paid to Danske Bank A/S for the \u00a0
arranging and guaranteeing of mortgage loans \u00a0
744 \u00a0
817 \u00a0
744 \u00a0
817 \u00a0
Fees received from Danske Bank A/S for referral \u00a0
of customers and for property valuation \u00a0
81 \u00a0
56 \u00a0
81 \u00a0
56 \u00a0
Fees paid to Danske Bank A/S for managing \u00a0
Realkredit Danmark's IT operations and development, \u00a0
portfolio management and finance functions, etc. \u00a0
633 \u00a0
663 \u00a0
632 \u00a0
663 \u00a0
Interest received by Realkredit Danmark A/S \u00a0
on outstanding accounts with Danske Bank A/S \u00a0
185 \u00a0
414 \u00a0
185 \u00a0
414 \u00a0
Interest paid by Realkredit Danmark A/S \u00a0
on outstanding accounts with Danske Bank A/S \u00a0
217 \u00a0
504 \u00a0
217 \u00a0
504 \u00a0
Amounts due from Danske Bank A/S \u00a0
6,826 \u00a0
3,542 \u00a0
6,751 \u00a0
3,473 \u00a0
Loss guarantees from Danske Bank A/S \u00a0
28,330 \u00a0
31,587 \u00a0
28,330 \u00a0
31,587 \u00a0
Other guarantees from Danske Bank A/S \u00a0
10,206 \u00a0
9,578 \u00a0
10,206 \u00a0
9,578 \u00a0
Amounts due to Danske Bank A/S \u00a0
3,500 \u00a0
2,000 \u00a0
3,500 \u00a0
2,000 \u00a0
Any amounts due to related parties in the form of issued bonds have not been included in the above outstanding accounts as such bonds are \u00a0
bearer securities. In these cases, the Group does not know the identity of the creditors. \u00a0
Loans etc. to management \u00a0
Mortgage loans established on an arm's length basis for \u00a0
Board of Directors of Realkredit Danmark A/S \u00a0
26 \u00a0
12 \u00a0
26 \u00a0
12 \u00a0
Executive Management of Realkredit Danmark A/S \u00a0
7
8
7
8
Board of Directors and Executive Leadership Team of \u00a0
Danske Bank A/S \u00a0
39 \u00a0
57 \u00a0
39 \u00a0
57 \u00a0
Average interest rate and administration margin for loans etc. to \u00a0
management \u00a0
2.6% \u00a0
1.9% \u00a0
2.6% \u00a0
1.9% \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfRelatedPartyExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2143": {
"value": "Related party transactions \u00a0
Transactions between related parties are concluded and settled on an arm\u2019s length or on a cost-reimbursement basis. No unusual transactions \u00a0
were made with associates and group undertakings in 2024. \u00a0
Realkredit Danmark A/S made the below-mentioned major intra-group transactions with companies directly or indirectly associated with the \u00a0
Group/company. Danske Bank A/S is the parent company of Realkredit Danmark A/S. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DescriptionOfAccountingPolicyForTransactionsWithRelatedPartiesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2148": {
"value": "Developments in the financial markets did not lead to reclassification of bonds between listed prices and observable input in 2024.
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfReclassificationOfFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2149": {
"value": "Group holdings and undertakings \u00a0
Share \u00a0
Net \u00a0
Shareholders' \u00a0
Holding of \u00a0
capital \u00a0
profit \u00a0
equity \u00a0
share capital \u00a0
(DKK millions) \u00a0
(DKK millions) \u00a0
(DKK millions) \u00a0
(%) \u00a0
Realkredit Danmark A/S, Copenhagen \u00a0
630 \u00a0
4,424 \u00a0
54,642 \u00a0
Subsidiaries \u00a0
Real-estate agency business \u00a0
home a/s, Aarhus \u00a0
15 \u00a0
24 \u00a0
128 \u00a0
100 \u00a0
The information published is extracted from the most recent annual report of the companies \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2150": {
"value": "Group holdings and undertakings \u00a0
Share \u00a0
Net \u00a0
Shareholders' \u00a0
Holding of \u00a0
capital \u00a0
profit \u00a0
equity \u00a0
share capital \u00a0
(DKK millions) \u00a0
(DKK millions) \u00a0
(DKK millions) \u00a0
(%) \u00a0
Realkredit Danmark A/S, Copenhagen \u00a0
630 \u00a0
4,424 \u00a0
54,642 \u00a0
Subsidiaries \u00a0
Real-estate agency business \u00a0
home a/s, Aarhus \u00a0
15 \u00a0
24 \u00a0
128 \u00a0
100 \u00a0
The information published is extracted from the most recent annual report of the companies \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfBasisOfConsolidationExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2152": {
"value": "Credit risk \u00a0
Realkredit Danmark serves mortgage credit customers in Denmark, Sweden \u00a0
and Norway. Realkredit Danmark serves all customer segments in Den- \u00a0
mark, while the strategy in Sweden and Norway is to serve large business \u00a0
customers. Realkredit Danmark\u2019s principal segment is loans to the Personal \u00a0
customer market, which accounts for 52% of lending. Residential accounts \u00a0
for 27%, Urban trade for 16% and Agriculture for the remaining 5%. The \u00a0
current composition of the exposure matches Realkredit Danmark\u2019s target \u00a0
that residential property loans should account for at least two-thirds of the \u00a0
total exposure. \u00a0
In 2024, Realkredit Danmark continued its prudent credit-granting process, \u00a0
accommodating the Group\u2019s existing and new customers. Continuing this \u00a0
prudent credit-granting process will remain the objective in 2025. When \u00a0
granting credit, the Group requires the customer to be able to service a \u00a0
fixed-rate loan with principal repayment. When granting a FlexL\u00e5n\u00ae loan, \u00a0
the customer must also be able to service a fixed-rate loan with principal re- \u00a0
payment with an interest rate equal to a fixed rate over 30 years plus 1 per- \u00a0
centage point however, not less than 4%. \u00a0
The credit risk on a mortgage loan basically derives from two factors; the \u00a0
risk that the borrower is unable to repay the loan and the expected loss if \u00a0
the customer is unable to repay the loan, which largely depends on the \u00a0
value of the property. These two factors are commonly designated by Prob- \u00a0
ability of Default (\u201cPD\u201d) and Loss Given Default (\u201cLGD\u201d). The higher the \u00a0
PD and LGD, the higher risk a loan involves. The value of the property is \u00a0
determined in a property value model. This property value model is regu- \u00a0
larly monitored, and it is also subjected to an annual validation. \u00a0
The credit process widely builds on the two above-mentioned components \u00a0
and the size of the loan. Most often, the Group performs a decentralised as- \u00a0
sessment of whether a customer has the ability and the willingness to repay \u00a0
their loan. However, the Group handles the largest customers at a central \u00a0
corporate centre, which has the expertise to serve this customer segment. \u00a0
When the Group assesses that there is a high credit risk, the credit grant- \u00a0
ing process will be assigned to the central credit department. A high \u00a0
credit risk may arise for less financially strong customers (high PD), but \u00a0
it may also be due to expectations of a high LGD if the credit involves a \u00a0
property type that is difficult to sell, and which may lose much of its \u00a0
value if it has to be sold in a forced sale. Very large loans must be ap- \u00a0
proved by Realkredit Danmark\u2019s Executive Management or Board of Di- \u00a0
rectors. \u00a0
Realkredit Danmark applies customer classification models as a key tool \u00a0
in deciding when to grant the loan. \u00a0
Depending on the customer\u2019s loan facility and customer type, customers \u00a0
are classified using rating models or statistical scoring models. The rating \u00a0
models typically rely on the customer\u2019s financial statements, industry in- \u00a0
formation and an assessment of the customer\u2019s situation in terms of man- \u00a0
agement and competition. The rating is assessed in the central rating de- \u00a0
partment by a rating specialist and a credit officer, before it is fixed. The \u00a0
customer\u2019s rating is translated into a PD. \u00a0
The statistical scoring models rely on factors such as relevant sector in- \u00a0
formation and payment records. The calculated PD is translated into a \u00a0
rating category. \u00a0
The customer classification models break down customers into 11 rating \u00a0
categories, with category 1 being the most creditworthy. \u00a0
Loan impairment charges were at a normalised level and amounted to \u00a0
DKK 333 million in 2024 (2023: an income of DKK 114 million). Loan im- \u00a0
pairment charges were affected by a planned model change of DKK 100 \u00a0
million and a reversal of post-model adjustments of DKK 92 million due to \u00a0
the improved macroeconomic situation. The underlying credit quality re- \u00a0
mained strong. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfCreditRiskExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2169": {
"value": "Market risk \u00a0
Market risk is the risk of losses because of changes in market prices and in- \u00a0
terest rates. Realkredit Danmark\u2019s Board of Directors defines the overall \u00a0
framework for interest rate, equity market and exchange rate risks in ac- \u00a0
cordance with the limits laid down in the Danish Mortgage Credit Loans \u00a0
and Mortgage Credit Bonds, etc. Act. Realkredit Danmark calculates, moni- \u00a0
tors and reports these risks on a regular basis, and the Group pursues a pol- \u00a0
icy of only having limited market risk exposure. By complying with the \u00a0
statutory principle of balance, Realkredit Danmark eliminates interest rate, \u00a0
exchange rate and liquidity risks on most of its assets and liabilities. \u00a0
Interest rate risk \u00a0
Realkredit Danmark calculates interest rate risk as the change in net present \u00a0
value from an upward parallel shift in interest rates of 1 percentage point. \u00a0
In accordance with Danish law, the cash flows received from interest pay- \u00a0
ments and instalments on mortgage loans and payments made on issued \u00a0
bonds may not result in an interest rate risk exceeding 1% of Realkredit \u00a0
Danmark\u2019s total capital, that is, DKK 498 million. At the end of 2024, this \u00a0
interest rate risk amounted to DKK 4 million against DKK 3 million in \u00a0
2023. \u00a0
The interest rate risk on other assets and liabilities and on off-balance-sheet \u00a0
items, including in particular the proprietary investment portfolio, may not \u00a0
exceed 8% of the total capital, or DKK 3,982 million, in accordance with \u00a0
Danish law. At the end of 2024, the interest rate risk on these items \u00a0
amounted to DKK 997 million, against DKK 958 million the year before. \u00a0
At the end of 2024, the total interest rate risk amounted to DKK 1,001 mil- \u00a0
lion. The year before, Realkredit Danmark\u2019s interest rate risk was DKK 961 \u00a0
million. \u00a0
For a qualitative description of RD\u2019s IRRBB framework, please refer to \u00a0
Danske Bank Group Risk Management Report 2024. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfMarketRiskExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2175": {
"value": "Derivatives \u00a0
2024 \u00a0
2023 \u00a0
Positive market
Negative market \u00a0
Positive market
Negative market \u00a0
(DKK millions) \u00a0
Nominal value \u00a0
value \u00a0
value Nominal
value \u00a0
value \u00a0
value \u00a0
Interest rate contracts \u00a0
Forward/futures bought \u00a0
56,330 \u00a0
2
64 \u00a0
31,028 \u00a0
1
47 \u00a0
Forward/futures sold \u00a0
33,928 \u00a0
21 \u00a0
9
19,895 \u00a0
28 \u00a0
186 \u00a0
Currency contracts \u00a0
Forward/futures bought \u00a0
2
-
-
22 \u00a0
-
-
Forward/futures sold \u00a0
-
-
-
2
-
-
Interest rate and currency contracts held for trading \u00a0
purposes, total \u00a0
23 \u00a0
73 \u00a0
29 \u00a0
233 \u00a0
Outstanding spot transactions \u00a0
Interest rate contracts bought \u00a0
581 \u00a0
1
-
708 \u00a0
1
-
Interest rate contracts sold \u00a0
746 \u00a0
-
-
754 \u00a0
1
-
Total outstanding spot transactions \u00a0
1
-
2
-
All derivatives have a maturity of less than one year. \u00a0
The calculation applies to the Realkredit Danmark Group and Realkredit Danmark A/S. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDerivativeFinancialInstrumentsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2177": {
"value": "Liquidity risk \u00a0
Realkredit Danmark finances its lending activities by issuing bonds on an \u00a0
ongoing basis. Consequently, Realkredit Danmark\u2019s main liquidity risk is \u00a0
not related to the ongoing funding of loans but to the refinancing auctions \u00a0
at which large volumes of bonds need to be sold during a short period of \u00a0
time. Realkredit Danmark constantly seeks to mitigate this risk by \u00a0
spreading the auctions across the year and giving borrowers an incentive \u00a0
to opt for loans without or with less frequent needs for refinancing. \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfLiquidityRiskExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2179": {
"value": "Realkredit Danmark Group \u00a0
(DKK millions) \u00a0
2024 \u00a0
2023 \u00a0
2022 \u00a0
2021 \u00a0
2020 \u00a0
HIGHLIGHTS \u00a0
Net interest and fee income* \u00a0
6,478 \u00a0
6,187 \u00a0
6,128 \u00a0
6,158 \u00a0
6,475 \u00a0
Value adjustments* \u00a0
727 \u00a0
633 \u00a0
-236 \u00a0
-327 \u00a0
-410 \u00a0
Staff costs and administrative expenses \u00a0
1,008 \u00a0
1,054 \u00a0
1,102 \u00a0
994 \u00a0
863 \u00a0
Loan impairment charges \u00a0
333 \u00a0
-114 \u00a0
212 \u00a0
269 \u00a0
335 \u00a0
Income from associates \u00a0
-
-
-
-
-
Net profit for the year \u00a0
4,424 \u00a0
4,394 \u00a0
3,626 \u00a0
3,669 \u00a0
3,883 \u00a0
Loans \u00a0
755,746 \u00a0
753,843 \u00a0
724,642 \u00a0
810,547 \u00a0
817,026 \u00a0
Shareholders' equity \u00a0
54,642 \u00a0
50,223 \u00a0
49,477 \u00a0
49,472 \u00a0
49,590 \u00a0
Total assets \u00a0
827,023 \u00a0
816,263 \u00a0
782,228 \u00a0
876,999 \u00a0
891,268 \u00a0
RATIOS AND KEY FIGURES \u00a0
Total capital ratio (%) \u00a0
31.9 \u00a0
31.5 \u00a0
29.1 \u00a0
25.3 \u00a0
27.4 \u00a0
Tier 1 capital ratio (%) \u00a0
31.9 \u00a0
31.1 \u00a0
28.6 \u00a0
24.9 \u00a0
26.9 \u00a0
Return on equity before tax (%) \u00a0
11.4 \u00a0
12.0 \u00a0
9.4 \u00a0
9.5 \u00a0
10.0 \u00a0
Return on equity after tax (%) \u00a0
8.4 \u00a0
8.8 \u00a0
7.3 \u00a0
7.4 \u00a0
7.8 \u00a0
Cost/core income ratio DKK \u00a0
5.44 \u00a0
7.34 \u00a0
4.54 \u00a0
4.72 \u00a0
5.15 \u00a0
Foreign exchange position (%) \u00a0
0.7 \u00a0
0.7 \u00a0
0.7 \u00a0
0.8 \u00a0
0.6 \u00a0
Gearing of loans \u00a0
13.8 \u00a0
15.0 \u00a0
14.6 \u00a0
16.4 \u00a0
16.5 \u00a0
Growth in lending for the year (%) \u00a0
-1.4 \u00a0
0.5 \u00a0
-0.7 \u00a0
1.9 \u00a0
1.2 \u00a0
Impairment ratio for the year (%) \u00a0
0.04 \u00a0
-0.02 \u00a0
0.03 \u00a0
0.03 \u00a0
0.04 \u00a0
Return on assets (%) \u00a0
0.5 \u00a0
0.5 \u00a0
0.5 \u00a0
0.4 \u00a0
0.4 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfDividendsExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact2180": {
"value": "Realkredit Danmark Group \u00a0
(DKK millions) \u00a0
2024 \u00a0
2023 \u00a0
2022 \u00a0
2021 \u00a0
2020 \u00a0
HIGHLIGHTS \u00a0
Net interest and fee income* \u00a0
6,478 \u00a0
6,187 \u00a0
6,128 \u00a0
6,158 \u00a0
6,475 \u00a0
Value adjustments* \u00a0
727 \u00a0
633 \u00a0
-236 \u00a0
-327 \u00a0
-410 \u00a0
Staff costs and administrative expenses \u00a0
1,008 \u00a0
1,054 \u00a0
1,102 \u00a0
994 \u00a0
863 \u00a0
Loan impairment charges \u00a0
333 \u00a0
-114 \u00a0
212 \u00a0
269 \u00a0
335 \u00a0
Income from associates \u00a0
-
-
-
-
-
Net profit for the year \u00a0
4,424 \u00a0
4,394 \u00a0
3,626 \u00a0
3,669 \u00a0
3,883 \u00a0
Loans \u00a0
755,746 \u00a0
753,843 \u00a0
724,642 \u00a0
810,547 \u00a0
817,026 \u00a0
Shareholders' equity \u00a0
54,642 \u00a0
50,223 \u00a0
49,477 \u00a0
49,472 \u00a0
49,590 \u00a0
Total assets \u00a0
827,023 \u00a0
816,263 \u00a0
782,228 \u00a0
876,999 \u00a0
891,268 \u00a0
RATIOS AND KEY FIGURES \u00a0
Total capital ratio (%) \u00a0
31.9 \u00a0
31.5 \u00a0
29.1 \u00a0
25.3 \u00a0
27.4 \u00a0
Tier 1 capital ratio (%) \u00a0
31.9 \u00a0
31.1 \u00a0
28.6 \u00a0
24.9 \u00a0
26.9 \u00a0
Return on equity before tax (%) \u00a0
11.4 \u00a0
12.0 \u00a0
9.4 \u00a0
9.5 \u00a0
10.0 \u00a0
Return on equity after tax (%) \u00a0
8.4 \u00a0
8.8 \u00a0
7.3 \u00a0
7.4 \u00a0
7.8 \u00a0
Cost/core income ratio DKK \u00a0
5.44 \u00a0
7.34 \u00a0
4.54 \u00a0
4.72 \u00a0
5.15 \u00a0
Foreign exchange position (%) \u00a0
0.7 \u00a0
0.7 \u00a0
0.7 \u00a0
0.8 \u00a0
0.6 \u00a0
Gearing of loans \u00a0
13.8 \u00a0
15.0 \u00a0
14.6 \u00a0
16.4 \u00a0
16.5 \u00a0
Growth in lending for the year (%) \u00a0
-1.4 \u00a0
0.5 \u00a0
-0.7 \u00a0
1.9 \u00a0
1.2 \u00a0
Impairment ratio for the year (%) \u00a0
0.04 \u00a0
-0.02 \u00a0
0.03 \u00a0
0.03 \u00a0
0.04 \u00a0
Return on assets (%) \u00a0
0.5 \u00a0
0.5 \u00a0
0.5 \u00a0
0.4 \u00a0
0.4 \u00a0
",
"dimensions": {
"concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1284": {
"value": "Denmark",
"dimensions": {
"concept": "ifrs-full:DomicileOfEntity",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1285": {
"value": "Mortgage financeSegment reporting \u00a0Realkredit Danmark operates two primary business segments, mort- \u00a0gage finance and a proprietary portfolio. The business segments are \u00a0based on ongoing internal reporting of customer-facing activities \u00a0(mortgage finance) and risk management (proprietary portfolio). \u00a0The part of the bond portfolio that is not related to mortgage lend- \u00a0ing operations is managed under the proprietary portfolio segment. \u00a0Profit broken down by activity \u00a0Realkredit Danmark Group \u00a0Mortgage \u00a0Own \u00a0Reclassi- \u00a02024 \u00a0finance \u00a0holdings \u00a0Highlights \u00a0fication \u00a0IFRS \u00a0Administration margin \u00a05,543 \u00a0-5,543 \u00a0-5,543 \u00a0Net interest income \u00a02,103 \u00a0-558 \u00a01,545 \u00a0-631 \u00a0914 \u00a0Net fee income \u00a021 \u00a0-21 \u00a0-21 \u00a0Income from investment portfolios \u00a011 \u00a085 \u00a096 \u00a0-96 \u00a0-Value adjustments \u00a0---727 \u00a0727 \u00a0Other income \u00a095 \u00a0-95 \u00a0-95 \u00a0Total income \u00a07,773 \u00a0-473 \u00a07,300 \u00a0-7,300 \u00a0Expenses \u00a01,007 \u00a031,010 \u00a0-1,010 \u00a0Profit before loan impairment charges \u00a06,766 \u00a0-476 \u00a06,290 \u00a0-6,290 \u00a0Loan impairment charges \u00a0333 \u00a0-333 \u00a0-333 \u00a0Profit before tax \u00a06,433 \u00a0-476 \u00a05,957 \u00a0-5,957 \u00a0Tax \u00a01,533 \u00a0-1,533 \u00a0Net profit for the year \u00a04,424 \u00a0-4,424 \u00a0Total assets \u00a0772,787 \u00a054,236 \u00a0827,023 \u00a0-827,023 \u00a0Mortgage \u00a0Own \u00a0Reclassi- \u00a02023 \u00a0finance \u00a0holdings \u00a0Highlights \u00a0fication \u00a0IFRS \u00a0Administration margin \u00a05,593 \u00a0-5,593 \u00a0-5,593 \u00a0Net interest income \u00a01,796 \u00a0-682 \u00a01,114 \u00a0-450 \u00a0664 \u00a0Net fee income \u00a0-70 \u00a0--70 \u00a0--70 \u00a0Income from investment portfolios \u00a09174 \u00a0183 \u00a0-183 \u00a0-Value adjustments \u00a0---633 \u00a0633 \u00a0Other income \u00a084 \u00a0-84 \u00a0-84 \u00a0Total income \u00a07,412 \u00a0-508 \u00a06,904 \u00a0-6,904 \u00a0Expenses \u00a01,051 \u00a041,055 \u00a0-1,055 \u00a0Profit before loan impairment charges \u00a06,361 \u00a0-512 \u00a05,849 \u00a0-5,849 \u00a0Loan impairment charges \u00a0-114 \u00a0--114 \u00a0--114 \u00a0Profit before tax \u00a06,475 \u00a0-512 \u00a05,963 \u00a0-5,963 \u00a0Tax \u00a01,569 \u00a0-1,569 \u00a0Net profit for the year \u00a04,394 \u00a0-4,394 \u00a0Total assets \u00a0765,705 \u00a050,558 \u00a0816,263 \u00a0-816,263 \u00a0Mortgage finance encompasses property financing services provided in Denmark, Sweden and Norway to personal and business customers. The \u00a0mediation of property financing services is made through Danske Bank\u2019s branch network and finance centres and through Corporate & Institu- \u00a0tional Mortgage Finance at Realkredit Danmark. The segment also includes mediation of real estate transactions in Denmark offered through the \u00a0\u201chome\u201d real-estate agency chain. Own holdings comprise the net return on the part of the securities portfolio not relating to the mortgage finance \u00a0business. Under the Danish Financial Business Act, at least 60% of the total capital of a mortgage credit institution must be invested in bonds, etc. \u00a0Realkredit Danmark has no branch offices or subsidiaries outside Denmark. \u00a0IFRSs require disclosure if 10% or more of the income derives from a single customer. The Realkredit Danmark Group has no such customers. \u00a02Profit broken down by activity \u00a0cont\u00b4d \u00a0Alternative performance measures \u00a0Financial highlights and reporting for the two business segments correspond to the information incorporated in the Management\u2019s report, which is \u00a0regularly sent to management. The presentation in the financial highlights deviates in certain areas from the financial statements prepared under IFRS \u00a0and therefore represents alternative performance measures. There are generally no adjusting items, which means that net profit is the same in the \u00a0financial highlights and in the IFRS financial statements. \u00a0The reclassification column shows the reconciliation between the presentation in the highlights and in the IFRS financial statements. The difference \u00a0between the presentation in the financial highlights and in the IFRS financial statements is due to the fact that income from trading activities in mort- \u00a0gage credit activities and income from own holdings, except for interest on bonds at amortised cost, is carried in the consolidated highlights as in- \u00a0come from investment portfolios, while in the income statement according to IFRS it is carried under net interest income, value adjustments, etc. \u00a0As the distribution of income between the various income line items in the IFRS income statements can vary considerably from one year to the next, \u00a0depending on the underlying transactions and market conditions, the net presentation in the financial highlights is considered to better reflect income \u00a0in those areas. \u00a0",
"dimensions": {
"concept": "ifrs-full:DescriptionOfNatureOfEntitysOperationsAndPrincipalActivities",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1286": {
"value": "Denmark",
"dimensions": {
"concept": "ifrs-full:CountryOfIncorporation",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1287": {
"value": "Denmark",
"dimensions": {
"concept": "ifrs-full:PrincipalPlaceOfBusiness",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1288": {
"value": "A/S",
"dimensions": {
"concept": "ifrs-full:LegalFormOfEntity",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1289": {
"value": "Realkredit Danmark Group",
"dimensions": {
"concept": "ifrs-full:NameOfReportingEntityOrOtherMeansOfIdentification",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1290": {
"value": "Realkredit Danmark A/S",
"dimensions": {
"concept": "ifrs-full:NameOfParentEntity",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1291": {
"value": "Realkredit Danmark A/S",
"dimensions": {
"concept": "ifrs-full:NameOfUltimateParentOfGroup",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
},
"fact1292": {
"value": "Bernstorffsgade 40, DK-1577 K\u00f8benhavn V",
"dimensions": {
"concept": "ifrs-full:AddressOfRegisteredOfficeOfEntity",
"language": "en",
"entity": "scheme:549300NLOMBOWE943Y30",
"period": "2024-01-01T00:00:00/2025-01-01T00:00:00"
}
}
}
}