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Länsförsäkringar Bank: Interim Report January-September 2014

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” Retail customers have once again named Länsförsäkringar Bank the bank that they are most satisfied with, showing that our business, which is based on closeness and security, is appreciated by our customers. We are strengthening our position in the bank market with an increased number of customers, and we remain at the forefront of digital services with a focus on service and userfriendliness. Business volumes are increasing, net interest income is being strengthened and we can report strong earnings for the first nine months of the year. It is gratifying that earnings performed well and are in line with our expectations”, says Rikard Josefson, President of Länsförsäkringar Bank.

The period in brief, Group

  • Operating profit rose 44% to SEK 679 M (472) and the return on equity strengthened to 8.2% (6.6).
  • Net interest income increased 14% to SEK 1,882 M (1,652).
  • Operating income increased 14% to SEK 1,774 M (1,556).
  • Operating expenses excluding impairment increased 3% to SEK 1,019 M (990).
  • Loan losses amounted to SEK -22 M (95), net, corresponding to loan losses of –0.02% (0.08).
  • Business volumes rose 12% to SEK 343 billion (305).
  • Deposits increased 10% to SEK 74 billion (67).
  • Lending increased 8% to SEK 172 billion (160).
  • The Bank Group’s Core Tier 1 ratio amounted to 15.9% on September 30, 2014.
  • The number of customers increased 5% to 914,000, the number of bank cards rose 10% to 416,000 and the number of deposit accounts increased 8%.
  • According to the Swedish Quality Index’s 2014 customer satisfaction survey, Länsförsäkringar once again has Sweden’s most satisfied retail bank customers.

Figures in parentheses pertain to the comparative period 2013.

http://www.lansforsakringar.se/stockholm/om-oss/in-english/lansforsakringar-bank/

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

Frida Adrian, Investor Relations Manager, Länsförsäkringar Bank AB,
+46 (08)-588 403 52, +46 (0)73-867 43 84

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 Q3 2014

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