SBAB Bank Interim report Jan–Sep 2011: Favourable business operations with growing deposits
SBAB Bank’s CEO, Eva Cederbalk, comments:SBAB Bank’s business operations are performing well. Deposits are growing steadily and loan losses remain very low. However, the wait-and-see approach of the housing market slowed the rate of new lending, causing lending to decline somewhat during the final quarter of the period. SBAB Bank’s strategy of early pre-funding of future bond maturities and extending the maturity of its funding has been positive as the cost of funding in the turbulent financial markets has increased. However, the effects of this turbulence on the market valuation of