title: Nykredit
text: # Nykredit
  
  Nykredit (lit. 'New Credit') 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 2014 Nykredit lost a principal case at the Danish Supreme Court regarding service fees. In February 2016 Nykredit faced public outrage among their customers due to significantly increased service fees. On 9 September 2016 The Danish Consumer-ombudsman filed a police report regarding misleading marketing of service fees conducted by the subsidiary company Totalkredit.
  
  ## Subsidiaries
  
  Nykredit has the following wholly owned subsidiaries:
  
  * Totalkredit A/S
  * Nykredit Bank A/S
  * Nykredit Mægler A/S
  * Nykredit Ejendomme A/S
  