Länsförsäkringar Bank, INTERIM REPORT, JANUARY - MARCH 2003

Länsförsäkringar Bank INTERIM REPORT, JANUARY - MARCH 2003 Summary · Positive volume trend. Lending to the general public rose 60% to SEK 22.5 billion (14.1)* and deposits from the general public increased 25% to SEK 16.3 billion (13.0). · Operating profit before loan losses amounted to SEK 15.6 M (2.6). · Operating profit after loan losses amounted to SEK 5.8 M (loss: 5.0). · Net interest income rose 18% to SEK 147.1 M (124.8). · Administration expenses increased 7.4% to SEK 161.1 M (150.0). · The office network is being expanded successively and today there are 80 (75) advisory offices. · The number of customers rose to 410,000 (358,000). · Mortgage loans increased by 178% to SEK 10.0 billion (3.6). *Figures in parentheses refer to the first quarter of 2002. Tomas Johansson, Managing Director, Länsförsäkringar Bank: "Länsförsäkringar experienced a strong volume growth in the bank during the first three months of the year. Both deposits and lending rose sharply. The earnings trend was favorable and revenues are increasing more than costs. With 2.9 million customers, Länsförsäkringar has a large growth potential in the banking operations. Naturally, this possibility is enhanced in pace with knowledge about Länsförsäkringar Bank steadily increasing." For further information, please contact: Tomas Johansson, Managing Director, Länsförsäkringar Bank AB Tel: +46-8-588 419 82, +46-73-96 419 82 Catharina Strömsten, Retail Banking Manager, Länsförsäkringar Bank AB Tel: +46-8 588 424 52/+46-73 96 424 52 Christer Baldhagen, Senior Vice President Corporate Communications, Länsförsäkringar AB Tel: +46-8 588 415 01/+46-70 579 70 66 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/28/20030428BIT00570/wkr0001.pdf The full report