Länsförsäkringar Bank receives positive outlook from Standard & Poor’s

Standard & Poor’s is revising Länsförsäkringar Bank’s outlook from “stable” to “positive.” As a consequence, the long-term rating is A- (positive). The short-term rating of A-2 was reconfirmed.

“This is confirmation of the positive development in the banking operations and that we are implementing our strategy according to plan,” says Tomas Johansson, President of Länsförsäkringar Bank. “It is also affirmation of the strategic significance of the banking activities. We now have all the prerequisites required to create an even stronger core business that can be beneficial to the entire Länsförsäkringar Alliance.” Standard & Poor’s cited the banking operations’ increased strategic significance for the entire Länsförsäkringar Alliance and the owner commitment. It also noted the high capital coverage ratio and the positive development in the regional insurance companies’ banking business. In addition, Standard & Poor’s writes that the Länsförsäkringar Bank shows sustainable profitability, strong growth and low loan losses.