Länsförsäkringar Bank: Interim Report January - September 2016

”Länsförsäkringar Bank continued to perform strongly and we can yet again report our best ever quarterly results. We recorded healthy growth during the period with increased business volumes and further improved market position within all segments. We re-confirmed our position as the bank with the most satisfied customers as we once again rank first in terms of customer satisfaction in the Swedish Quality Index survey of 2016 (SKI). The continued high customer inflow confirms that the customers appreciate our focus on the customer meeting and our strong local presence combined with the market leading digital services within our banking offering.” says Rikard Josefson, President of Länsförsäkringar Bank.

The period in brief, Group

  • Operating profit increased 25% to SEK 1,077M (863) and the return on equity strengthened to 10.0% (8.9).
  • Net interest income increased 15% to SEK 2,513 M (2,189).
  • Operating income increased 12% to SEK 2,280 M (2,030).
  • Operating expenses declined 1% to SEK 1,168 M (1,176).
  • Loan losses amounted to SEK 35.2 M (–8.9*), net, corresponding to loan losses of 0.02% (–0.01).
  • Business volumes increased 13% to SEK 441.7 billion (390.0).
  • Deposits rose 10% to SEK 90.0 billion (81.6). 
  • Lending increased 12% to SEK 219.3 billion (196.3).
  • The Common Equity Tier 1 capital ratio for the consolidated situation amounted to 20.8% (20.3**) on 30 September 2016.
  • The number of customers with Länsförsäkringar as their primary bank rose 11% to 408,000 (367,000), and the number of bank cards increased 11% to 505,000 (456,000).

*) The comparative figure includes the dissolution of reserves amounting to SEK 60 M.
**) Pertains to 30 June 2016.
Figures in parentheses pertain to the same period in 2015.   


For further information please contact:
Rikard Josefson, President, Länsförsäkringar Bank AB,
+46 (0)8-588 410 75, +46 (0)70-206 69 55

Anders Borgcrantz, Executive Vice President and CFO, Länsförsäkringar
Bank AB, +46 (0)8-588 412 51, +46 (0)73-964 12 51

Martin Rydin, Vice Executive President, Länsförsäkringar Bank AB,
+46 (0)8-588 412 79, +46 (0)73-964 28 23

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.


About Us

Länsförsäkringar is Sweden’s only customer-owned and locally established banking and insurance group. The customers in each of the counties in the country own their local and independent regional insurance company. The 23 regional bank and insurance companies cooperate in the jointly owned Länsförsäkringar AB, which conducts development and provides services within banking, life assurance, non-life insurance and animal insurance. Länsförsäkringar offers a broad range of insurance and banking services for individuals, companies and farming. All companies within the Länsförsäkringar Alliance are environmentally certified in accordance with ISO 14001.