Länsförsäkringar Bank: Interim report January – June 2011

”The bank is continuing to grow broadly and strengthen its position in the market. Our focus on attractive saving and deposit products remains a focal point, with savings in particular having grown in importance to customers’ financial security in a climate of economic uncertainty. The trend in saving and deposit services and products remained favourable. The number of customers is increasing and 93% of customers that have chosen Länsförsäkringar as their primary bank also have insurance or a pension with the company. The growth in loans is stable and credit quality remains very high. The liquidity situation is healthy and refinancing was very successful during the period,” says Rikard Josefson, President of Länsförsäkringar Bank.

The period in brief, Group
• Operating profit increased 24% to SEK 181 M (146).
• Net interest income rose 32% to SEK 814 M (614).
• Loan losses remained low and amounted to SEK 30 M (31), net, corresponding to a loan loss of 0.05% (0.06).
• Business volumes rose 16% to SEK 247 billion (214).
• The Tier 1 ratio according to Basel II was 12.1% (11.6) and the capital adequacy ratio was 14.1% (13.4).
• The number of customers rose 8% to 857,000 (793,000) and the number of bank cards increased 16% to 287,000 (247,000).
• The number of customers with Länsförsäkringar as their primary bank increased 15% to 240,000 (209,000) and the number of products per customer rose to 4.7 (4.6).

Figures in parentheses pertain to the same period in 2010.

The full report is available attached.

For further information please contact:

Rikard Josefson, President, Länsförsäkringar Bank AB,
+46 (0)8-588 410 75, +46 (0)70-206 69 55

Anders Borgcrantz, Vice Executive President and CFO, Länsförsäkringar
BankAB, +46 (0)8-588 412 51, +46 (0)73-964 12 51

Christer Baldhagen, Senior Vice President Corporate Communications,
+46 (0)8-588 415 01, +46 (0)70-579 70 66+46 (0)8-588 415 01, +46 (0)70-579 70 66

The Länsförsäkringar Alliance comprises 23 local and customer-owned regional insurance companies and the jointly owned Länsförsäkringar AB. Customers are provided with a complete offering of banking and insurance services through their local, regional insurance companies. We offer animal and crop insurance through Agria Djurförsäkring and total solutions for reliable mortgage transactions are offered through Länsförsäkringar Fastighetsförmedling.