Improved results and confident outlook for Landshypotek Bank

Landshypotek Bank continues to improve its results in parallel with developing the bank for the future. Operating profit for the first quarter of 2017 amounted to SEK 97.6 million excluding the net result of financial transactions, up SEK 22.7 million year-on-year. 

Landshypotek Bank’s earnings were however held back by the net result of financial transactions, which fluctuated significantly between the quarters. Including these transactions, the bank posted an operating profit of SEK 65.5 million (115.4).

Net interest income improved slightly during the quarter and loan losses continued to decline, to the extent that the bank reported recoveries for the quarter.

“We are strongly placed to meet tomorrow. A confident future outlook has also been noted when we met some 1,500 customers at regional meetings across the country. Moreover, there was substantial interest in our subordinated loan issue raising capital,” says Liza Nyberg, CEO of Landshypotek Bank.

During the quarter, the bank completed an issue of a SEK 700 million perpetual subordinated loan, for which there was substantial interest, with numerous investors quickly oversubscribing the issue.    

The bank also surpassed SEK 12 billion in deposits during the quarter.

“We have rapidly established ourselves in the savings market and are continuing to grow. The growth trend demonstrates the considerable level of interest in a bank with strong values linked to the Swedish countryside. We have presented our mortgage loans to the market and will continue to broaden the bank’s appeal,” says Liza Nyberg.

For more information, please contact:

Liza Nyberg, CEO of Landshypotek Bank, via Tomas Uddin, Chief Communications Officer, +46 70 299 2408

Fredrik Sandberg, CFO Landshypotek Bank, via Tomas Uddin, Chief Communications Officer, +46 70 299 2408

This information is information that Landshypotek Bank AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication at 9.15 am CET on 2 May 2017. 

January – March 2017

compared with January – March 2016

• Operating profit amounted to MSEK 64.5 (115.4)
• The underlying operating profit, profit excluding the net result of financial transactions, totalled MSEK 97.6 (74.9).
• Net interest income amounted to MSEK 185.5 (178.5).
• Costs totalled MSEK 90.1 (95.8)
• Net loan losses declined and amounted to a recovery of MSEK 1.7 (loss: 8.3).
• Lending amounted to SEK 66.6 billion (65.1).
• Deposits amounted to SEK 12.0 billion (10.7).

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January – March 2017

compared with October – December 2016

• Operating profit amounted to MSEK 64.5 (4.4)
• The underlying operating profit, excluding the net result of financial transactions, was MSEK 97.6 (47.5).
• Net interest income amounted to MSEK 185.5 (176.1).
• Costs totalled MSEK 90.1 (123.0)
• Net loan losses amounted to a recovery of MSEK 1.7 (loss: 8.0).
• Lending amounted to SEK 66.6 billion (66.5).
• Deposits amounted to SEK 12.0 billion (11.7).

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