Länsförsäkringar Hypotek: Interim report January-June 2012
”Länsförsäkringar is growing in the mortgage market with sustained credit quality and increasing earnings. Net interest income was strengthened primarily by improved and more normalised margins in a turbulent business environment. The number of retail mortgage customers choosing Länsförsäkringar as their primary bank is rising, showing that our offering is attractive. Credit quality remained excellent with low loan losses and a low percentage of impaired loans,” says Anders Borgcrantz, President of Länsförsäkringar Hypotek.
The period in brief
- Operating profit rose to SEK 186 M (92) and the return on equity strengthened to 6.3% (3.6).
- Net interest income increased 58% to SEK 376 M (238).
- Loan losses amounted to SEK -0.3 M (-6.4), net, corresponding to loan losses of 0.00% (-0.01).
- Loans rose 12% to SEK 95 billion (85).
- The Core Tier 1 ratio and Tier 1 ratio amounted to 21.4% (20.6) and the capital adequacy ratio to 23.5% (22.9).
- The number of customers rose 9% to 169,000 (155,000).
Figures in parentheses pertain to the comparable period 2011.
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
Martin Rydin, Vice Executive President, Länsförsäkringar Hypotek AB,
+46 (0)8-588 412 79, +46 (0)73-964 12 79
Anna-Lena Löfvenberg, Investor Relations Manager, Länsförsäkringar
Bank AB, +46 (0)8-588 415 16, +46 (0)73-964 15 16
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.