Länsförsäkringar Hypotek: Interim Report January-June 2016
”Länsförsäkringar Hypotek continued to perform positively and we reported a favourable earnings trend during the period. It is gratifying that volume growth is continuing at an even pace and we are capturing additional market shares while maintaining high credit quality and low loan losses. We are continuing to closely monitor the trend in the housing market and welcome the mortgage repayment requirement that came into effect on 1 June as yet another step towards a more sound repayment culture” says Anders Borgcrantz, President of Länsförsäkringar Hypotek.
The year in brief
- Operating profit increased 55.9% to SEK 343 M (220) and the return on equity strengthened to 7.2% (5.4).
- Net interest income increased 21.3% to SEK 763 M (629).
- Loan losses amounted to SEK –1.2 M (–6.3), net, corresponding to loan losses of 0.00% (–0.01).
- Lending increased 15.0% to SEK 157.6 billion (137.0).
- The Common Equity Tier 1 capital ratio amounted to 44.0% (40.8*) on 30 June 2016.
- The number of customers increased 7.2% to 224,000 (209,000).
*Pertains to 31 March 2016
Figures in parentheses pertain to the comparative period 2015.
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.