Länsförsäkringar Bank: Interim Report January – September 2015

“It is very pleasing that we can again report healthy growth with increased business volumes and a strong earnings trend. We have, once again, the most satisfied customer according to the Swedish Quality Index, a result that we are humbled by and proud of. We experienced a high inflow of customers, which confirms that customers appreciate our focus on local customer meetings and our leading-edge digital services.” says Rikard Josefson, President of Länsförsäkringar Bank.

The year in brief, Group

  • Operating profit increased 27% to SEK 863 M (679) and the return on equity strengthened to 8.9% (8.2).
  • Net interest income increased 16% to SEK 2,189 M (1,882).
  • Operating income increased 14% to SEK 2,030 M (1,776).
  • Operating expenses including impairment increased 5% to SEK 1,176 M (1,116).
  • Loan losses amounted to SEK –9 M (–20), net, corresponding to loan losses of –0.01% (–0.02).
  • Business volumes rose 11% to SEK 380 bn (343).
  • Deposits increased 11% to SEK 82 bn (74).
  • Lending increased 14% to SEK 196 bn (172).
  • The Core Tier 1 ratio amounted to 20.2% (19.9*) on 30 September 2015.
  • The number of customers with Länsförsäkringar as their primary bank increased 8% to 367,000 (341,000). The total number of customers rose to 944,000 (914,000) and the number of bank cards increased 10% to 456,000 (416,000).
  • According to the Swedish Quality Index’s 2015 customer satisfaction survey, Länsförsäkringar Bank once again has Sweden’s most satisfied customers.

Figures in parentheses pertain to the same period in 2014.*Pertains to 30 June 2015.  


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

Martin Rydin, Vice Executive President, Länsförsäkringar Bank AB,
+46 (0)8-588 412 79, +46 (0)73-964 28 23 

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.


About Us

Länsförsäkringar is Sweden’s only customer-owned and locally established banking and insurance group. The customers in each of the counties in the country own their local and independent regional insurance company. The 23 regional bank and insurance companies cooperate in the jointly owned Länsförsäkringar AB, which conducts development and provides services within banking, life assurance, non-life insurance and animal insurance. Länsförsäkringar offers a broad range of insurance and banking services for individuals, companies and farming. All companies within the Länsförsäkringar Alliance are environmentally certified in accordance with ISO 14001.