Länsförsäkringar Hypotek: January – March 2019

”Länsförsäkringar Hypotek reported healthy growth for the quarter and we are further strengthening our position in the mortgage market by increasing our market share. Mortgage lending is continuing to grow while maintaining a high level of credit quality in the loan portfolio. Market growth has stalled slightly and we can see that the competitive situation is changing to a certain extent, mainly in the large cities. The housing market is now in a calmer period and the price trend is largely unchanged since the market stabilised at the end of last year. The underlying problem of a poorly functioning housing market and the imbalance between supply and demand for housing remain areas for which there are no clear initiatives. Stimulating turnover and simplifying the functionality of the housing market will require a political effort and a clear willingness to address the fundamental problems”, says Anders Borgcrantz, President of Länsförsäkringar Hypotek.

The period in brief:

  • Operating profit increased 26% to SEK 297.9 M (236.4) and the return on equity strengthened to 8.1% (6.9).
  • Net interest income increased 8% to SEK 631.5 M (585.4).
  • Credit losses amounted to SEK –0.4 M (–0.3), net, corresponding to a credit loss level of –0.00% (–0.00).
  • Lending increased 11% to SEK 225.9 billion (203.9).
  • The Common Equity Tier 1 capital ratio amounted to 18.1% (18.3*) on 31 March 2019.
  • The number of customers rose 7% to 278,000 (260,000).
  • According to the 2018 Swedish Quality Index customer satisfaction survey, Länsförsäkringar is the single player on the market with the most satisfied retail mortgage customers.

    Figures in parentheses pertain to the same period in 2018.
    * Pertains to 31 December 2018.

Read more

https://www.lansforsakringar.se/financial-hypotek/

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, CFO, Länsförsäkringar Hypotek AB,
+46 (0)8-588 412 79, +46 (0)73-964 28 23

Stefan Karkamanis, Investor Relations, Länsförsäkringar Bank AB,
+46 (0)8-588 402 90, +46 (0)72-310 00 80

This is information that Länsförsäkringar Hypotek AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 12:00 CET on 26 April 2019.

The Länsförsäkringar Alliance is comprised of 23 local and customer-owned regional insurance companies and the jointly owned Länsförsäkringar AB. Customers are provided with a complete offering of banking and life and non-life insurance services through their local, regional insurance companies. We offer animal and crop insurance through Agria Djurförsäkring, total solutions for reliable mortgage transactions through Länsförsäkringar Fastighetsförmedling, and financing services such as leasing, instalment payments, and loans through Wasa Kredit.

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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.