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Länsförsäkringar Bank: Interim report January-June 2013

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”Länsförsäkringar is growing in its entire banking business and is continuing to strengthen its position in both the deposit and lending market. Several product launches took place during the quarter. The loan portfolio, which largely comprises mortgages for private individuals’ homes and first-lien mortgages to family-owned agricultural operations, continues to maintain high credit quality. Funding was successful during the period and the liquidity situation is strong. It is gratifying that earnings performed well and in line with our expectations”, says Rikard Josefson, President of Länsförsäkringar Bank.

The period in brief, Group

  • Net interest income increased 9% to SEK 1,095 M (1,003).
  • Loan losses remained very low and amounted to SEK 63 M (43), corresponding to loan losses of 0.07% (0.06).
  • Operating profi t rose 10% to SEK 297 M (270) and the return on equity was unchanged at 6.3%.
  • Business volumes increased 12% to SEK 298 billion (266).
  • Deposits rose 14% to SEK 66 billion (57).
  • Lending increased 11% to SEK 157 billion (142).
  • The Core Tier 1 ratio according to Basel II amounted to 13.9% (12.3). The Tier 1 ratio according to Basel II was 14.5% (12.9) and the capital adequacy ratio according to Basel II was 18.6% (14.9).
  • The number of customers increased 6% to 869,000, the number of bank cards rose 15% to 369,000 and the number of deposit accounts increased 13% to 1,269,000.
  • Länsförsäkringar Bank became a Stibor bank at the start of June.

Figures in parentheses pertain to the comparable period 2012.

http://www.lansforsakringar.se/privat/om_oss/in_english/financial/Bank/Sidor/financial-reports.aspx

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

Anna-Lena Löfvenberg, Investor Relations, Länsförsäkringar Bank AB,
+46 (0)8-588 415 16, +46 (0)73-964 15 16

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