Highlights of Stadshypotek’s Annual Report January–December 2024

JANUARY–DECEMBER 2024 COMPARED WITH JANUARY–DECEMBER 2023
During the second half of 2024, parts of Stadshypotek’s Finnish international branch were divested.

Stadshypotek’s operating profit decreased by SEK 559m, or 6%, to SEK 8,739m (9,298). Net interest income fell by SEK 222m to SEK 11,990m, (12,212), mainly due to decreased margins arising from the fierce competition in the mortgage loan market. In Sweden, net interest income decreased by SEK 499m, while in the Norwegian branch net interest income increased by SEK 366m.

Of the net interest income, SEK 1,054m (688) was attributable to the branch in Norway and SEK 396m (469) to the branch in Finland. Excluding the Finnish branch, which is in the process of being divested, net interest income decreased by SEK 133m to SEK 11,593m (11,726). Net gains/losses on financial transactions decreased by SEK 222m to SEK 468m (690).

Expenses rose by SEK 224m to SEK -2,624m (-2,400). This was mainly attributable to SEK -111m of capital losses relating to the partial divestment of the Finnish operations, as well as to an increase in the compensation paid to the parent company in relation to the sale and administration of mortgage loans.

Net credit losses totalled SEK 104m (-95). The credit loss ratio corresponded to -0.01% (0.01) of lending.

LENDING

Compared to the close of the corresponding period during the previous year, loans to the public increased by 0%, or SEK 2bn, and stood at SEK 1,583bn (1,581). In Sweden, loans to the public increased by 1%, or SEK 12bn, to SEK 1,407bn (1,395).

FUNDING

Issues of Stadshypotek’s bond programme in Swedish kronor totalled a nominal SEK 104.8bn (143.8) during the period. During the period, a nominal volume totalling SEK 113.7bn (89.8) matured or was repurchased. The carrying amount of outstanding Swedish kronor bonds was SEK 614.6bn (619.6) at the end of the period.

Issues of foreign currency bonds under the EMTCN programme totalled EUR 0.8bn (1.0). The outstanding volumes at the end of the period were nominally EUR 8.2bn (8.7) and GBP - bn (-).

The outstanding volume in the US programme totalled USD – bn (–) at the end of the period. Issues in NOK totalled NOK 7.0bn (8.0). The out- standing volume at the end of the period totalled NOK 29.0bn (27.0).

CAPITAL ADEQUACY

According to CRR 575/2013, the total capital ratio was 16.6% (18.5) while the common equity tier 1 ratio was 11.6% (12.9). Further information on capital adequacy is provided in note 19, Capital adequacy.

RATINGS

Stadshypotek’s ratings remained unchanged during the entire period.
 

Stockholm February 5, 2025

Cecilia Hasselbo
Chief Executive Stadshypotek AB

This information is of the type that Stadshypotek is obliged to make public pursuant to the Swedish Securities Markets Act. The information was submitted for publication through the agency of the contact person set out above, at 11:00 a.m. CET on 5 February 2025.

For more information about Stadshypotek please go to www.handelsbanken.com

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