Nykredit is a Danish financial service company. Its activities range from mortgages, retail and investment banking to insurance, leasing and asset management.
As of 2012, Nykredit Group was the largest lender in Denmark and one of the major private bond issuers in Europe.
History
From 1851 onwards, a large number of credit unions were established in Denmark, of which 16 merged after the mortgage reform in 1970 to become Forenede Kreditforeninger and Jyllands Kreditforeninger respectively in 1972.
in 1985, Nykredit was formed by a merger between Forenede Kreditforeninger and Jyllands Kreditforening.
In 2003 Nykredit bought Totalkredit, a mortgage lending institution whose products are distributed by 103 regional and local banks. In 2008 Nykredit bought Forstædernes Bank and merged it with Nykredit Bank.
In December 2024, Nykredit announced its intention to acquire domestic rival Spar Nord for DKK 24.7 billion, and Spar Nord's board of directors stated that it supported the bid. The takeover would create the third largest banking group in Denmark, with a 13% share of the market.[1]