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Länsförsäkringar Bank: Interim report January-March 2012

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”Länsförsäkringar is growing in all product areas and market shares in deposits in particular are strengthening. We are continuing to expand our offering and a young person’s bank card and an investment savings account were launched during the quarter. Profit increased due to increased business volumes, improved margins and high credit quality,” says Rikard Josefson, President of Länsförsäkringar Bank.

The period in brief, Group

  • Operating profi t increased 39% to SEK 131 M (94).
  • Return on equity amounted to 6.2% (5.0).
  • Net interest income increased 23% to SEK 482 M (391).
  • Loan losses, net, remained low and amounted to SEK 26 M (9), corresponding to loan losses of 0.08% (0.03).
  • Business volumes rose 9% to SEK 258 billion (237).
  • Deposits rose 27% to SEK 53 billion (42).
  • The Core Tier 1 ratio according to Basel II amounted to 11.5% (11.2). The Tier 1 ratio according to Basel II was 12.1% (11.8) and the capital adequacy ratio was 14.0% (13.5).
  • The number of customers increased 8% to 904,000 (838,000) and the number of bank cards rose 7% to 296,000 (276,000).

Figures in parentheses pertain to the comparable period 2011.


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
Bank AB, +46 (0)8-588 412 51, +46 (0)73-964 12 51

Anna-Lena Löfvenberg, Investor Relations, Länsförsäkringar Bank AB,
+46 (0)8-588 415 16, +46 (0)73-964 15 16

 
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.

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