Länsförsäkringar Bank receives higher credit rating by Standard & Poor’s

Standard & Poor’s upgraded Länsförsäkringar Bank’s credit rating from A- to A. Accordingly, the long-term credit rating is A (stable). The short-term rating was raised from A-2 to A-1.

“This is a confirmation of the positive development in the banking operations and that we are implementing our strategy as planned. It also confirms the strategic importance of the banking business in the Länsförsäkringar Alliance,” says Tomas Johansson, President of Länsförsäkringar Bank. “It further strengthens our competitiveness and gives us the strength in continuing to challenge by providing good service, good prices and terms to our customers.”

Standard & Poor’s cites the banking business’s strategic importance to the entire Länsförsäkringar Alliance and the commitment of the owners. They also note the high capital adequacy ratio, high loan quality and continued improvements in the banking business’s performance. Despite intensified competition, with pressure on margins, Länsförsäkringar has continued to increase its share of the Swedish retail market, while at the same time the underlying profitability improved.

For further information, contact:

Tomas Johansson,
President, Länsförsäkringar Bank AB
+46 (0)8-588 419 82
+46 (0)73-96 419 82

Anders Borgcrantz,
CFO, Länsförsäkringar Bank AB
+46 (0)8-588 412 51
+46 (0)73- 96 412 51

Dag Rosander,
Press Officer, Länsförsäkringar AB
+46 (0)8-588 414 99
+46 (0)73-96 414 99

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.