Länsförsäkringar Bank: Interim report January – September 2011

”Länsförsäkringar hasSweden’s most satisfied retail bank customers for the seventh time in eight years. This is a confirmation of the bank’s success and that Länsförsäkringar has one of the very strongest brands in the market. Our market position is continuing to be strengthened in all areas, particularly in deposits, which shows that we offer customers reliable forms of savings. Credit quality remained high. Our liquidity is high and borrowing has a favourable maturity structure. Accordingly, the bank is well-equipped for more uncertain trends in the economic environment,” says Rikard Josefson, President of Länsförsäkringar Bank.

The period in brief, Group
• Länsförsäkringar hasSweden’s most satisfied retail bank customers according to the 2011 Swedish Quality Index.
• Operating profit rose 7% to SEK 265 M (248).
• Net interest income rose 28% to SEK 1,244 M (973).
• Loan losses remained low and amounted to SEK 50 M (50), net, corresponding to a loan loss of 0.05% (0.06).
• Business volumes rose 8% to SEK 241 billion (223).
• Deposits rose 20% to SEK 48 billion (40).
• The Tier 1 ratio according to Basel II was 12.4% (11.8) and the capital adequacy ratio was 14.4% (13.6).
• The number of customers rose 8% to 871,000 (807,000) and the number of bank cards increased 15% to 296,000 (256,000).
• The number of customers with Länsförsäkringar as their primary bank increased 14% to 246,000 (215,000) 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.