Länsförsäkringar Bank, interim report, January-June 2003
Länsförsäkringar Bank, interim report, January-June 2003 First six months of 2003 in brief: · Lending to the general public rose 58% to SEK 25.3 billion (16.0) and deposits from the general public increased 24% to SEK 16.6 billion (13.4). · The number of customers rose by 59,000 to 427,000 (368,000). · Operating income before loan losses amounted to SEK 36.9 M (12.9) and after loan losses to SEK 12.4 M (2.3). · Revenues increased 20% to SEK 374.3 M (312.0). This increase was nearly twice as large as the cost increase of 11% to SEK 339.3 M (306.9). · Net interest income rose 28% to SEK 315.7 M (246.3). · Return on equity amounted to 1.8% (0.5). · Mortgage loans increased by 149% to SEK 12.2 billion (4.9). · The office network is being expanded successively and today there are 82 advisory offices (75). · The portion of household insurance customers in Länsförsäkringar that are also bank customers amounted to 10.1% (6.5). - Länsförsäkringar's bank operations continued to develop positively. The number of customers is increasing successively, earnings development is favorable and revenues are rising faster than expenses. In the area of mortgage financing, development is very strong. We are also seeing a distinct trend in that Länsförsäkringar is currently a bank people change to, not solely a bank used as a complement, says Tomas Johansson, Managing Director Länsförsäkringar Bank. Figures in parantheses refer to the first six months of 2002. You will find the report at www.lansforsakringar.se/Info For additional information, contact: Tomas Johansson, Managing Director, Länsförsäkringar Bank +46 8-588 419 82 +46 73-96 419 82 tomas.johansson@lansforsakringar.se Catharina Strömsten, Head of Communications, Länsförsäkringar Bank +46 8-588 424 52 +46 73-96 424 52 catharina.stromsten@lansforsakringar.se Christer Baldhagen, Senior Vice President Corporate Communications, Länsförsäkringar AB +46 8-588 415 01 +46 70-579 70 66 christer.baldhagen@lansforsakringar.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/08/27/20030827BIT00630/wkr0002.pdf Hela rapporten