Nordbanken Hypotek AB Financial Report for 1999

Financial Report for 1999 Since mortgage company Nordbanken Hypotek acquired all of the shares in Nordbanken Kommunlån - formerly the bank's provider of loans to Swedish municipalities - the two companies were merged effective November 1, 1999. The merger contributed to Nordbanken Hypotek's balance sheet municipality- related credits in the amount of approximately SEK 8 billion. All comparisons with the previous year are pro forma for both companies together. Market share increased by 1.9 percentage units to 14.3 percent. Within the household segment market share rose to 15.2 percent. Lending increased by 10 percent to SEK 150 billion by year-end. Lending to households rose by SEK 12 billion to SEK 89 billion while lending to the corporate sector went up by SEK 2 billion to reach SEK 61 billion. Net costs for the year in respect of credit losses increased to SEK 14 (12) million, which constituted 0.01 percent (0.01) of lending volume. Operating result fell by 2 percent to SEK 1 150 million (1 172). Profitability was 13 percent. For further information: Eva Andersson, President - Nordbanken Hypotek, + 46 8-463 70 41 Erik Evrén, Press Relations Manager - MeritaNordbanken, +46 8-614 86 11 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/02/18/20000218BIT00360/bit0001.doc http://www.bit.se/bitonline/2000/02/18/20000218BIT00360/bit0002.pdf

Subscribe