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Länsförsäkringar Bank: Interim report January March 2014

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”Länsförsäkringar Bank is strengthening its position in the market. Business volumes are increasing and net interest income and earnings displayed a strong performance. At the start of April, we offered a number of new services in our mobile app. For example, we were first to offer customers the option of changing funds in their pension and endowment insurance, which confirms that we have a leading position in digital services. It is also pleasing that for the sixth consecutive year Länsförsäkringar has the best reputation in the financial sector. This shows that our business, which is based on closeness and security for customers, is appreciated by our customers”, says Rikard Josefson, President of Länsförsäkringar Bank.

The period in brief, Group

  • Operating profit rose 45% to SEK 197 M (136) and the return on equity strengthened to 7.5% (5.9).
  • Net interest income rose 7% to SEK 584 M (544).
  • Loan losses remained very low and amounted to SEK 16 M (33), corresponding to loan losses of 0.04% (0.08).
  • Business volumes rose 11% to SEK 321 billion (290).
  • Deposits increased 10% to SEK 70 billion (63).
  • Lending increased 7% to SEK 163 billion (152).
  • The Core Tier 1 ratio according to Basel III was 14.1% on March 31, 2014.
  • The number of customers increased 5% to 894,000, the number of bank cards rose 11% to 396,000 and the number of deposit accounts increased 11% to 1,364,000.

Figures in parentheses pertain to the comparative period 2013.

http://www.lansforsakringar.se/privat/om_oss/in_english/financial/Bank/Sidor/financial-reports.aspx

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

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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Länsförsäkringar Bank

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