Länsförsäkringar Hypotek: Report January - June 2018
”Länsförsäkringar Hypotek’s position on the mortgage market is continuously strengthening and we are consolidating our position as one of the larger players in mortgage lending in Sweden. We are capturing a significant share of new loans in relation to our underlying market share, which indicates that we are seeing an increased inflow of new customers from our competitors. The credit quality of the loan portfolio remained high and the credit loss level very low. There has recently been certain mass media attention on new players that have entered the mortgage market, particularly via digital channels. We are keenly following developments in this area. Housing prices have slowly started to rise again, although some degree of uncertainty in the market remains. It is nevertheless too early to draw any far-reaching conclusions about the effect that the stricter mortgage repayment requirement has had and how it has impacted the price trend”, says Anders Borgcrantz, President of Länsförsäkringar Hypotek.
The period in brief:
- Operating profit increased 43% to SEK 541.7 M (377.8) and the return on equity amounted to 7.9% (6.9).
- Net interest income increased 20% to SEK 1,198 M (998.7).
- Credit losses amounted to SEK –0.8 M (–1.4), net, corresponding to a credit loss level of –0.00% (–0.00).
- Lending increased 16% to SEK 210.4 billion (182.0).
- The Common Equity Tier 1 capital ratio amounted to 55.9% (54.8*) on 30 June 2018.
- The number of customers rose 10% to 266,000 (242,000).
Figures in parentheses pertain to the same period in 2017.
* Refers to 31 March 2018.
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
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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