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Länsförsäkringar Bank: Year-end report 2013

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”The bank is growing on a broad front in all areas and is strengthening its position as Sweden’s fifth largest retail bank. Our success is based on proximity to customers where each customer meeting is unique and personal. We hold a leading position in digital services, where more and more customers are meeting us, and we have very satisfied customers. In January 2014, we were awarded, for the second consecutive year, the price for the best mobile app by Web Service Award. Our loan portfolio continues to have very high credit quality”, says Rikard Josefson, President of Länsförsäkringar Bank.

The year in brief, Group

  • Operating profit rose 16% to SEK 647 M (555) and the return on equity was 6.7% (6.3).
  • Net interest income increased 8% to SEK 2,230 M (2,071).
  • Loan losses remained very low and amounted to SEK 126 M (91), corresponding to loan losses of 0.08% (0.06).
  • Business volumes increased 11% to SEK 314 billion (283).
  • Deposits rose 11% to SEK 69 billion (62).
  • Lending increased 8% to SEK 162 billion (150).
  • On December 31, 2013, Core Tier 1 ratio according to Basel II amounted to 14.7% and Core Tier 1 ratio according to Basel III* amounted to 14.4%.
  • The number of customers increased 4% to 879,000, the number of bank cards rose 12% to 388,000 and the number of deposit accounts increased 10% to 1,292,000.

Figures in parentheses pertain to 2012.

*According to Länsförsäkringar Bank’s current interpretation of the regulations.

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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