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Länsförsäkringar Hypotek: Report January - September 2018

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”Länsförsäkringar Hypotek continued to grow and we further improved our position in the mortgage market. Lending is increasing at a steady rate with high credit quality, while credit losses remain very low. Operating profit performed positively. The number of customers is continuing to grow and market shares in mortgage lending are steadily increasing. We are closely monitoring the macroeconomic risks related to rising household indebtedness and we are carefully following trends in the housing market. Housing prices appear to have stabilised but it is too early to draw any far-reaching conclusions about the current status of the market. However, we still believe that more and clearer initiatives are needed from a political perspective in order to develop the functionality of the housing market and to stimulate increased movement in the future”, says Anders Borgcrantz, President of Länsförsäkringar Hypotek.

The period in brief:

  • Operating profit increased 42% to SEK 819.1 M (575.4) and the return on equity strengthened to 7.8% (6.8).
  • Net interest income increased 18% to SEK 1,822 M (1,539).
  • Credit losses amounted to SEK –1.2 M (–0.6), net, corresponding to a credit loss level of –0.00% (–0.00).
  • Lending increased 14% to SEK 215.6 billion (189.0).
  • The Common Equity Tier 1 capital ratio amounted to 54.5% (55.9*) on 30 September 2018.
  • The number of customers rose 9% to 270,000 (248,000).

    Figures in parentheses pertain to the same period in 2017.
    * Refers to 30 June 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


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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Länsförsäkringar

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