Interim Report January–June 2017
”Länsförsäkringar Hypotek is continuing to strengthen its position in the mortgage market and delivered strong operating profit. Lending growth is stable and our market share is successively increasing, while credit quality remains highs and loan losses very low. The housing market remains a focal point and a slight weakening price trend could be noted in the second quarter following an upturn during the first few months of the year. In May, the Swedish Financial Supervisory Authority announced its intention to introduce stricter repayment requirements for households with high debt ratios to counteract risks related to rising house prices. However, it is important that the underlying problem of a poorly functioning housing market and the imbalance between supply and demand for housing are also addressed.” says Martin Rydin, President of Länsförsäkringar Hypotek.
The period in brief
- Operating profit increased 10% to SEK 377.8 M (343.0) and the return on equity amounted to 6.9% (7.2).
- Net interest income increased 31% to SEK 998.7 M (762.9).
- Loan losses amounted to SEK –1.4 M (–1.2), net, corresponding to a loan loss level of –0.00% (–0.00).
- Lending increased 15% to SEK 182.0 billion (157.6).
- The Common Equity Tier 1 capital ratio amounted to 50.6% (50.2*) on 30 June 2017.
- The number of customers rose 8% to 242,000 (224,000).
Figures in parentheses pertain to the same period in 2016.
* Refers to 31 March 2017.
For further information please contact:
Martin Rydin, President, Länsförsäkringar Hypotek AB,
+46 (0)8-588 412 79, +46 (0)73-964 28 23
Stefan Karkamanis, Investor Relations, Länsförsäkringar Bank AB,
+46 (0)8-588 402 90, +46 (0)72-147 22 93
The Länsförsäkringar Alliance comprises 23 local and customer-owned regional insurance companies and the jointly owned Länsförsäkringar AB. Customers are provided with a complete offering of banking and insurance services through their local, regional insurance companies. We offer animal and crop insurance through Agria Djurförsäkring and total solutions for reliable mortgage transactions are offered through Länsförsäkringar Fastighetsförmedling.
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