Länsförsäkringar Hypotek: Interim Report January–March 2017
”Länsförsäkringar Hypotek’s retail mortgage operations are continuing to perform strongly and we see an increase in the number of customers and we are successively growing our market shares. The high credit quality of the mortgage portfolio is the result of the conservative credit regulations and the stringent requirements placed on customers’ repayment capacity as well as the quality of collateral. We are closely monitoring how the macroeconomic risks related to households’ increasing indebtedness are managed and are following the trends in the housing market and continued rising housing prices.” says Anders Borgcrantz, President of Länsförsäkringar Hypotek.
The period in brief
- Operating profit declined 8% to SEK 172.2 M (187.3) and the return on equity amounted to 6.6% (8.1).
- Net interest income increased 32% to SEK 490.6 M (371.9).
- Loan losses amounted to SEK –0.7 M (–0.1), net, corresponding to a loan loss level of –0.00% (–0.00).
- Lending increased 15% to SEK 174.2 billion (151.1).
- The Common Equity Tier 1 capital ratio amounted to 50.2% (44.1*) on 31 March 2017.
- The number of customers increased 8% to 236,000 (219,000).
*) Refers to 31 December 2016.
Figures in parentheses pertain to the same period in 2016.
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
Stefan Karkamanis, Investor Relations, Länsförsäkringar Bank AB
+46 (0)8-588 402 90, +46 (0)72-147 22 93
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.