Announcement of Result for 2006 – Sveriges Bostadsfinansieringsaktiebolag, SBAB (publ) – The Swedish Housing Finance Corporation, SBAB 1 January – 31 December 2006
SBAB’s net operating income for 2006 was SEK 652 million
The investment in the corporate market during the year has led to a doubling of new sales of corporate loans compared with last year. Lending to the residential mortgage market developed positively and grew during the year by SEK 12 billion. At the same time, SBAB has successively decreased its expenses during the year, in particular costs for personnel, administration and marketing.
- Continued pressure on margins has meant that income has not increased at the same rate as the portfolio, says Eva Cederbalk, SBAB’s CEO. A result of SEK 652 million for 2006 is a good achievement bearing in mind that we have carried out several important development projects during the year.
Net operating income for the whole year 2006
SBAB’s net operating income for 2006 amounted to SEK 652 million (SEK 666 million). The change in income is mainly explained by continued investments in development projects. Net interest income was SEK 1,334 million compared with SEK 1,296 million in 2005. Continued pressure on margins has meant that income has not increased at the same rate as the portfolio.
Expenses totalled SEK 593 million (SEK 596 million), which is a reduction from last year despite a year of extensive investments in development projects. Costs for personnel, administration and marketing are lower than last year.
Annual General Meeting
SBAB’s Annual General Meeting will take place on Thursday, 19 April 2007.
The full statement including tables can be downloaded from http://www.sbab.se and www.waymaker.se
A copy of the Announcement of SBABs’ Result for 2006 will be submitted to the UK Listing Authority, and will shortly be available for inspection at the UK Listing Authority’s Document Viewing Facility, which is situated at:
Financial Services Authority
25 The North Colonnade
London E14 5HS
Tel. No. (0)20 7676 1000