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Länsförsäkringar Bank: Year-end report 2014

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”Länsförsäkringar, the customer-owned bank, has Sweden’s most satisfied retail customers and was named 2014 Bank of the Year. The local presence and attractive offering are the foundation of our success. The stable growth experienced by the bank during the year continued in the fourth quarter with increased business volumes, strengthened earnings and improved profitability. Loans are continuing to grow with a high level of credit quality. We remain at the forefront of digital services, where more and more customers are meeting us, and in January 2015 we won the Web Service Award for Sweden’s best online interface” says Rikard Josefson, President of Länsförsäkringar Bank.

The year in brief, Group

  • Operating profit increased 45 percent to SEK 935 M (647) and the return on equity strengthened to 8.3 percent (6.7).
  • Net interest income increased 16 percent to SEK 2,580 M (2,230).
  • Operating income increased 17percent to SEK 2,454 M (2,104).
  • Operating expenses excluding impairment increased 6 percent to SEK 1,398 M (1,319).
  • Loan losses amounted to SEK -7 M (126), net, corresponding to loan losses of 0.00 percent (0.08).
  • Business volumes increased 13 percent to SEK 354 bn (314).
  • Deposits increased 11 percent to SEK 77 bn (69).
  • Lending increased 11 percent to SEK 179 bn (162).
  • The Bank Group’s Core Tier 1 ratio amounted to 16.2 percent on 31 December 2014.
  • The number of customers increased 5 percent to 927,000, the number of bank cards increased 10 percent to 425,000 and the number of deposit accounts increased 8 percent.

Figures in parentheses pertain to 2013.

http://www.lansforsakringar.se/stockholm/om-oss/in-english/financial-reports/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 Länsförsäkringar Bank

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