Länsförsäkringar Hypotek: Interim report January-June 2014

”At the end of the quarter, Länsförsäkringar was the first in the bank market to certify all its mortgage advisors, which confirms our ambition levels regarding quality, service and security for our customers. We reported healthy mortgage growth and the credit quality of the loan portfolio is very high. Financing of the retail mortgage lending operations continued successfully and the maturity structure improved during the quarter,” says Anders Borgcrantz, President of Länsförsäkringar Hypotek.

The period in brief

  • Net interest income rose 9% to SEK 464 M (427).
  • Loan losses amounted to SEK -7.9 M (3.0), corresponding to loan losses of -0.01% (0.01). See comments on the settlement method for loan losses.
  • Operating profit rose 15% to SEK 194 M (168) and the return on equity was 5.2% (5.4).
  • Lending increased 9% to SEK 117 billion (108).
  • The Core Tier 1 ratio according to Basel III was 22.6% on June 30, 2014.
  • The number of customers rose 5% to 193,000.

Figures in parentheses pertain to the comparative period 2013.

http://www.lansforsakringar.se/stockholm/om-oss/in-english/financial-reports/lansforsakringar-hypotek/

For further information please contact:

Anders Borgcrantz, President, Länsförsäkringar Hypotek AB,
+46 (0)8-588 412 51, +46 (0)73-964 12 51

Martin Rydin, Executive Vice President, Länsförsäkringar Hypotek 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.

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