Länsförsäkringar Hypotek: Interim report January – September 2011

”Länsförsäkringar is growing and strengthening its position in the retail mortgage market. It is also particularly gratifying that Länsförsäkringar has Sweden’s most satisfied retail bank customers and that eight out of ten retail mortgage customers are also bank customers. Credit quality is very high. We are well-equipped to meet the more uncertain financial environment with very high liquidity and favourable borrowing durations,” says Anders Borgcrantz, President of Länsförsäkringar Hypotek.

The period in brief

• Lending rose 12% to SEK 87 billion (77).
• Operating profit increased 18% to SEK 137 M (116).
• Net interest income rose 25% to SEK 359 M (288).
• Recoveries exceeded loan losses and amounted to SEK 5 M (3), net.
• The Tier 1 ratio according to Basel II was 21.2% (18.3) and the capital adequacy ratio was 23.5% (20.8).
• The number of customers rose 8% to 158,000 (146,000).

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

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.

Tags: