Länsförsäkringar Bank:Year-end report 2012

”The bank continued its strong performance with stable growth, strengthened earnings and improved profitability. We have Sweden’s most satisfied retail bank customers, which shows that customers appreciate the added value that we provide. Being customer-owned creates humility towards our mission. The loan portfolio remains characterised by high credit quality. Funding was successful and the liquidity situation is strong. I am also very proud that Länsförsäkringar was awarded the best mobile app by Web Service Award last week,” says Rikard Josefson, President of Länsförsäkringar Bank.

The year in brief, Group

  • Operating profit rose 44% to SEK 556 M (385).
  • Return on equity strengthened to 6.3% (4.8).
  • Net interest income increased 20% to SEK 2,071 M (1,728).
  • Loan losses remained very low and amounted to SEK 91 M (48), corresponding to loan losses of 0.06% (0.04).
  • Business volumes rose 13% to SEK 283 billion (251).
  • Deposits increased 26% to SEK 62 billion (50).
  • Lending rose 12% to SEK 150 billion (134).
  • The Core Tier 1 ratio according to Basel II amounted to 13.1% (11.5). The Tier 1 ratio according to Basel II was 13.7% (12.1) and the capital adequacy ratio according to Basel II was 15.6% (14.0).
  • The number of customers increased 7% to 954,000 (889,000), the number of bank cards rose 13% to 346,000 (306,000) and the number of deposit accounts increased 17% to 1,200,000 (1,029,000).

Figures in parentheses pertain to 2011.

The full report

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, Vice Executive 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

About Us

Länsförsäkringar is Sweden’s only customer-owned and locally established banking and insurance group. The customers in each of the counties in the country own their local and independent regional insurance company. The 23 regional bank and insurance companies cooperate in the jointly owned Länsförsäkringar AB, which conducts development and provides services within banking, life assurance, non-life insurance and animal insurance. Länsförsäkringar offers a broad range of insurance and banking services for individuals, companies and farming. All companies within the Länsförsäkringar Alliance are environmentally certified in accordance with ISO 14001.


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