Länsförsäkringar Hypotek: Interim report January – June 2011

”Länsförsäkringar continued to strengthen its position on the retail mortgage market. The number of customers is increasing and 81% of retail mortgage customers are choosing Länsförsäkringar as their primary bank, which confirms that we have an attractive offering. The loan portfolio continues to have a high level of credit quality. The liquidity situation is favourable and refinancing was very successful. Borrowing duration have been extended,” says Anders Borgcrantz, President of Länsförsäkringar Hypotek.

The period in brief
• Loans rose 15% to SEK 85 billion (74).
• Operating profi t increased 52% to SEK 92 M (61).
• Net interest income rose 48% to SEK 238 M (161).
• Recoveries exceeded loan losses and amounted to SEK 6 M (3), net.
• The Tier 1 ratio according to Basel II was 20.6% (18.0) and the capital adequacy ratio was 22.9% (20.5).
• The number of customers rose 9% to 155,000 (142,000).
• In June, EUR 1 billion was issued in the European market. 

Figures in parentheses pertain to the same period in 2010.

The full report is available attached.

For further information please contact:

Anders Borgcrantz, President, Länsförsäkringar Hypotek AB,
+46 (0)8-588 412 51, +46 (0)73-964 12 51

Göran Laurén, Vice Executive President, Länsförsäkringar Hypotek AB,
+46 (0)8-588 410 73, +46 (0)73-964 10 73

Anna-Lena Löfvenberg, Investor Relations Manager, Länsförsäkringar
Bank AB, +46 (0)8-588 415 16, +46 (0)73-964 15 16

Christer Baldhagen, Senior Vice President Corporate Communications,
+46 (0)8-588 415 01, +46 (0)70-579 70 66

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