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<br /> NASDAQ OMX Copenhagen A/S<br /> and the press 8 November 2012<br /> NYKREDIT BANK A/S – a subsidiary of Nykredit Realkredit A/S consolidated in the Nykredit Group's<br /> Financial Statements<br /> Q1-Q3 INTERIM REPORT – THE NYKREDIT BANK GROUP<br /> 1 JANUARY – 30 SEPTEMBER 2012<br />  Profit before tax was DKK 337m against DKK 748m in Q1-Q3/2011<br />  Core income from business operations was unchanged at DKK 2,569m compared with Q1-Q3/2011<br />  Value adjustment of derivatives came to a charge of DKK 514m against a charge of DKK 345m in Q1-Q3/2011<br />  Operating costs went up by DKK 73m to DKK 1,374m owing in part to the establishment of a branch in Stockholm<br /> and costs for IT operations and development, including a new banking platform<br />  Impairment losses on loans and advances were DKK 415m, equal to 0.4%, in Q1-Q3/2012<br />  Payment <a title="q3-interim-report-2012-nykredit-bank page 1" href="http://viewer.zmags.com/publication/c9ab8def?page=1"> NASDAQ OMX Copenhagen A/S and the press </a> <a title="q3-interim-report-2012-nykredit-bank page 2" href="http://viewer.zmags.com/publication/c9ab8def?page=2"> FINANCIAL HIGHLIGHTS – THE NYKREDIT BANK GROUP </a> <a title="q3-interim-report-2012-nykredit-bank page 3" href="http://viewer.zmags.com/publication/c9ab8def?page=3"> MANAGEMENT'S REVIEW THE NYKREDIT BANK GROUP N</a> <a title="q3-interim-report-2012-nykredit-bank page 4" href="http://viewer.zmags.com/publication/c9ab8def?page=4"> MANAGEMENT'S REVIEW Investment portfolio incom</a> <a title="q3-interim-report-2012-nykredit-bank page 5" href="http://viewer.zmags.com/publication/c9ab8def?page=5"> MANAGEMENT'S REVIEW OUTLOOK FOR 2012 The Bank </a> <a title="q3-interim-report-2012-nykredit-bank page 6" href="http://viewer.zmags.com/publication/c9ab8def?page=6"> MANAGEMENT'S REVIEW BUSINESS AREAS Due to org</a> <a title="q3-interim-report-2012-nykredit-bank page 7" href="http://viewer.zmags.com/publication/c9ab8def?page=7"> Likewise, the business unit Nykredit Asset Manage</a> <a title="q3-interim-report-2012-nykredit-bank page 8" href="http://viewer.zmags.com/publication/c9ab8def?page=8"> MANAGEMENT'S REVIEW BALANCE SHEET, EQUITY AND </a> <a title="q3-interim-report-2012-nykredit-bank page 9" href="http://viewer.zmags.com/publication/c9ab8def?page=9"> MANAGEMENT'S REVIEW At 30 September 2012, the </a> <a title="q3-interim-report-2012-nykredit-bank page 10" href="http://viewer.zmags.com/publication/c9ab8def?page=10"> MANAGEMENT'S REVIEW IMPAIRMENT LOSSES, LOANS AND</a> <a title="q3-interim-report-2012-nykredit-bank page 11" href="http://viewer.zmags.com/publication/c9ab8def?page=11"> MANAGEMENT'S REVIEW Provisions at 30 September</a> <a title="q3-interim-report-2012-nykredit-bank page 12" href="http://viewer.zmags.com/publication/c9ab8def?page=12"> MANAGEMENT'S REVIEW LIQUIDITY AND FINANCIAL RISK</a> <a title="q3-interim-report-2012-nykredit-bank page 13" href="http://viewer.zmags.com/publication/c9ab8def?page=13"> MANAGEMENT'S REVIEW The Nykredit Bank Group </a> <a title="q3-interim-report-2012-nykredit-bank page 14" href="http://viewer.zmags.com/publication/c9ab8def?page=14"> MANAGEMENT STATEMENT MANAGEMENT STATEMENT STA</a> <a title="q3-interim-report-2012-nykredit-bank page 15" href="http://viewer.zmags.com/publication/c9ab8def?page=15"> Q1-Q3 FINANCIAL STATEMENTS 2012 Income state</a> <a title="q3-interim-report-2012-nykredit-bank page 16" href="http://viewer.zmags.com/publication/c9ab8def?page=16"> Q1-Q3 FINANCIAL STATEMENTS 2012 Balance shee</a> <a title="q3-interim-report-2012-nykredit-bank page 17" href="http://viewer.zmags.com/publication/c9ab8def?page=17"> Q1-Q3 FINANCIAL STATEMENTS 2012 Balance shee</a> <a title="q3-interim-report-2012-nykredit-bank page 18" href="http://viewer.zmags.com/publication/c9ab8def?page=18"> Q1-Q3 FINANCIAL STATEMENTS 2012 Statement of</a> <a title="q3-interim-report-2012-nykredit-bank page 19" href="http://viewer.zmags.com/publication/c9ab8def?page=19"> Q1-Q3 FINANCIAL STATEMENTS 2012 Statement of</a> <a title="q3-interim-report-2012-nykredit-bank page 20" href="http://viewer.zmags.com/publication/c9ab8def?page=20"> Q1-Q3 FINANCIAL STATEMENTS 2012 Capital adeq</a> <a title="q3-interim-report-2012-nykredit-bank page 21" href="http://viewer.zmags.com/publication/c9ab8def?page=21"> Q1-Q3 FINANCIAL STATEMENTS 2012 Cash flow st</a> <a title="q3-interim-report-2012-nykredit-bank page 22" href="http://viewer.zmags.com/publication/c9ab8def?page=22"> Q1-Q3 FINANCIAL STATEMENTS 2012 Core earning</a> <a title="q3-interim-report-2012-nykredit-bank page 23" href="http://viewer.zmags.com/publication/c9ab8def?page=23"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 24" href="http://viewer.zmags.com/publication/c9ab8def?page=24"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 25" href="http://viewer.zmags.com/publication/c9ab8def?page=25"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 26" href="http://viewer.zmags.com/publication/c9ab8def?page=26"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 27" href="http://viewer.zmags.com/publication/c9ab8def?page=27"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 28" href="http://viewer.zmags.com/publication/c9ab8def?page=28"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 29" href="http://viewer.zmags.com/publication/c9ab8def?page=29"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 30" href="http://viewer.zmags.com/publication/c9ab8def?page=30"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 31" href="http://viewer.zmags.com/publication/c9ab8def?page=31"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 32" href="http://viewer.zmags.com/publication/c9ab8def?page=32"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 33" href="http://viewer.zmags.com/publication/c9ab8def?page=33"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 34" href="http://viewer.zmags.com/publication/c9ab8def?page=34"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 35" href="http://viewer.zmags.com/publication/c9ab8def?page=35"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 36" href="http://viewer.zmags.com/publication/c9ab8def?page=36"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 37" href="http://viewer.zmags.com/publication/c9ab8def?page=37"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 38" href="http://viewer.zmags.com/publication/c9ab8def?page=38"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 39" href="http://viewer.zmags.com/publication/c9ab8def?page=39"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 40" href="http://viewer.zmags.com/publication/c9ab8def?page=40"> Q1-Q3 FINANCIAL STATEMENTS 2012 Notes </a> <a title="q3-interim-report-2012-nykredit-bank page 41" href="http://viewer.zmags.com/publication/c9ab8def?page=41"> Q1-Q3 FINANCIAL STATEMENTS 2012 Financial ra</a>