Interim Report January-September 2017
”Länsförsäkringar Hypotek’s retail mortgage operations are continuing to perform strongly and we see an increase in the number of customers and higher market shares. We delivered a strong operating profit for the period and are further strengthening our market position. The strong local presence of the regional insurance companies and high customer satisfaction are the keys to the stable growth in lending. We are continuing to maintain our high credit quality and loan losses for the period remained unchanged at very low levels. The trend in housing prices remains a much debated issue and it is positive that the price trend now appears to have weakened slightly.” says Martin Rydin, President of Länsförsäkringar Hypotek.
The period in brief
- Operating profit increased 16% to SEK 575.4 M (494.4) and the return on equity amounted to 6.8% (6.8).
- Net interest income increased 29% to SEK 1,539 M (1,189).
- Loan losses amounted to SEK –0.6 M (–1.0), net, corresponding to a loan loss level of –0.00% (–0.00).
- Lending increased 16% to SEK 189.0 billion (162.9).
- The Common Equity Tier 1 capital ratio amounted to 54.5% (50.6*) on 30 September 2017.
- The number of customers increased 9% to 248,000 (228,000).
Figures in parentheses pertain to the same period in 2016.
* Refers to 30 June 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.