SBAB's annual report 2001

SBAB'S ANNUAL REPORT 2001 Financial result for 2001 SBAB reports a net operating income of SEK 541 million for 2001, which is 15 per cent higher than the previous year's net figure (469 million). The result represents an after-tax return on equity capital of 9.6 per cent (8.9 per cent). SBAB's Board and Managing Director propose a dividend to the owner of SEK 120 million for 2001. After the dividend, the capital ratio will be 9.5 per cent (9.7 per cent) and the primary capital ratio 7.0 per cent (6.8 per cent). Lending The loan portfolio amounted to SEK 137 430 million. SBAB's market share of the total retail market (owner-occupied homes, tenant-owner apartments, holiday cottages) increased to 7.5 per cent. SBAB's portfolio of retail market loans amounted to SEK 31 949 million at year- end. In addition, retail market loans totalling SEK 9 600 million were securitized during the year through a MBS-transaction (Mortgage Backed Securities). New lending in the retail market amounted to SEK 15 666 million. SBAB's market share of the total property-company market (multi-family housing) was around 21 per cent. SBAB's portfolio of property-company market loans amounted to SEK 105 509 million at year-end. Loan losses Loan losses had a negative effect of SEK 55 million on the result. Funding SBAB's long-term objective is to achieve an approximately even distribution between international and domestic funding. SEK, JPY, USD and EUR are strategic currencies in SBAB's funding. Housing loans on internet SBAB's operations are increasingly based on internet solutions and internet has become an important distribution channel for housing loans. Substantial resources have therefore been allocated to IT-development also in 2001 in order to combine cost efficiency with ready accessibility and a high service level for borrowers. Around 60 per cent of loan applications within the retail market stem from Internet. Prospects for 2002 The aims and strategies set for SBAB's operations in 2001 will continue to apply for 2002. The annual result for 2002 is expected to be at least at the same level as in 2001. Summary for the SBAB Group 2001 2000 Net operating income, SEK million 541 469 Loan losses, SEK million 55 14 Capital ratio, % 9.5 9.7 Primary capital ratio, % 7.0 6.8 Equity ratio, % 2.9 2.7 Return on equity capital 9.6 8.9 Problem loans after provisions, SEK million 277 542 Income/expenditure ratio, excluding loan losses 2.3 2.2 Income/expenditure ratio, including loan losses 2.0 2.1 Rating, long-term debt Standard & Poor's AA- AA- Moody's A1 A1 Rating, short-term debt Standard & Poor's A-1+ A-1+ Moody's P-1 P-1 Lending, SEK million 137 430 139 734 Securitized loans, SEK million 18 522 9 497 Number of employees 368 365 Annual General Meeting The Annual General Meeting will take place on Thursday, 21 March 2002 in Stockholm Questions will be answered by: Christer Malm, Managing Director +46 8 614 4301 Peter Gertman, Deputy Managing Director+46 8 614 4315 Göran Laurén, Chief Financial Officer +46 8 614 3840 Annelise Jansson, Head of Information +46 8 614 4355 Ricard Grundwall, Financial Manager +46 8 614 4326 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/02/26/20020226BIT00250/wkr0001.doc http://www.waymaker.net/bitonline/2002/02/26/20020226BIT00250/wkr0002.pdf