Länsförsäkringar Hypotek: Year-end report 2016
”The performance of Länsförsäkringar Hypotek has been very positive during the quarter, and we report a strong operating profit and are successively growing our share of the mortgage market. Our strong local presence and our higher customer satisfaction remain success factors in the form of increased customer inflows. We saw housing prices continue to rise during the year, although the rate of increase has gradually declined. The strong capitalization combined with the high credit quality of our mortgage portfolio results in good access to financing and low financing costs.” says Anders Borgcrantz, President of Länsförsäkringar Hypotek.
The year in brief
- Operating profit increased 29% to SEK 658.4 M (508.8) and the return on equity amounted to 6.7% (6.0).
- Net interest income increased 24% to SEK 1,647 M (1,326).
- Loan losses amounted to SEK –4.8 M (–9.8)*, net, corresponding to a loan loss level of –0.00% (–0.01).
- Lending increased 15% to SEK 168.9 billion (147.1).
- The Common Equity Tier 1 capital ratio amounted to 44.1% (44.2**) on 31 December 2016.
- The number of customers rose 7% to 231,000 (216,000).
*) Includes the dissolution of reserves of SEK 3.1 M (8.0).
**) Pertains to 30 September 2016.
Figures in parentheses pertain to the same period in 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.