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Länsförsäkringar Bank: Year-end Report 2015

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”It is highly gratifying that the bank’s excellent performance is continuing. We can report healthy growth in business volumes, we are capturing market shares in both savings and lending, and earnings are continuing to display a strong trend. Housing prices continued to rise, which further emphasises the importance of a healthy mortgage amortization culture, something that we actively encourage. Mortgage amortizations are a good savings alternative for our customers and form a central part of our advisory services to customers. Having the most satisfied retail customers according to the Swedish Quality Index’s 2015 customer satisfaction survey, announced in October, is confirmation that our banking operations are of a high quality and we are on the right track. One of the key reasons for our success is the combination of our unique local presence and a strong digital offering. Our app won Sweden’s best mobile bank at the Mobilgala in January 2016 and we were awarded the prize for Sweden’s best app and mobile site at the Web Service Awards, which also confirms that we have leading-edge digital services”, says Rikard Josefson, President of Länsförsäkringar Bank.

The year in brief, Group

  • Operating profit increased 26% to SEK 1,175 M (935) and the return on equity strengthened to 8.9% (8.3).
  • Net interest income increased 16% to SEK 2,994 M (2,580).
  • Operating income increased 12% to SEK 2,747 M (2,451).
  • Operating expenses increased 3% to SEK 1,566 M (1,526).
  • Loan losses amounted to SEK 6 M (-10), net, corresponding to loan losses of 0.00% (0.00).
  • Business volumes rose 14% to SEK 404 billion (354).
  • Deposits increased 9% to SEK 84 billion (77).
  • Lending increased 13% to SEK 202 billion (179).
  • The Core Tier 1 ratio for the consolidated situation amounted to 21.4% (13.9) on 31 December 2015.
  • The number of customers with Länsförsäkringar as their primary bank increased 8% to 378,000 (350,000). The number of cards increased 10% to 466,000 (425,000).
  • According to the Swedish Quality Index’s 2015 customer satisfaction survey, Länsförsäkringar Bank has Sweden’s most satisfied retail customers.

Figures in parentheses pertain to the same period in 2014.

Read the full report: 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

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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