Länsförsäkringar Bank: Interim report January-September 2012
”For the sixth consecutive year, Länsförsäkringar has Sweden’s most satisfied retail bank customers, which confirms that our customers appreciate us. The bank is growing and strengthening its market position. Net interest income and earnings are increasing, yielding a stable trend. The loan portfolio, which largely comprises mortgages, has very high credit quality. Deposits are increasing, fund volumes are growing and other savings products are displaying favourable development. The liquidity situation was healthy,” says Rikard Josefson, President of Länsförsäkringar Bank.
The period in brief, Group
- Länsförsäkringar has Sweden’s most satisfied retail bank customers for the sixth consecutive year according to the Swedish Quality Index’s customer satisfaction survey that was presented on October 1.
- Operating profit rose 62% to SEK 428 M (265).
- Return on equity strengthened to 6.5% (4.5).
- Net interest income increased 23% to SEK 1,527 M (1,244).
- Loan losses remain low and amounted to SEK 64 M (38), net, corresponding to loan losses of 0.06% (0.04).
- Business volumes rose 14% to SEK 274 billion (241).
- Deposits rose 25% to SEK 60 billion (48).
- The Core Tier 1 ratio amounted to 12.0% (11.8).
- The Tier 1 ratio amounted to 12.6% (12.4) and the capital adequacy
- ratio was unchanged at 14.4%.
- The number of customers increased 8% to 938,000 (871,000) and the number of bank cards rose 13% to 334,000 (296,000).
Figures in parentheses pertain to the comparable period 2011.
Link to the report
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, Vice Executive 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
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.