Stadshypotek Interim Report January-June 2021

JANUARY – JUNE 2021 COMPARED WITH JANUARY – JUNE 2020

Stadshypotek’s operating profit rose by SEK 187m, or 3%, to SEK 6,516m (6,329). Net interest income grew by SEK 188m to SEK 7,464m (7,276). This is mainly due to higher lending volumes to the private and corporate markets in Sweden and Norway.

Of the net interest income, SEK 555m (404) was attributable to the branch in Norway, SEK 283m (250) to the branch in Finland and SEK 260m (275) to the branch in Denmark. Excluding the branches, net interest income increased by SEK 19m (325). Net gains/losses on financial transactions increased by SEK 12m to SEK 31m (19).

Expenses increased by SEK 72m to SEK -972m (-900). This increase was mainly attributable to an increase in the compensation paid to the parent company for the services performed by the branch office operations on behalf of Stadshypotek in relation to the sale and administration of mortgage loans, an increase driven primarily by higher business volumes.

Net credit losses totalled SEK 6 million (-53). This amount includes expert-based calculations that take into account the effects of Covid-19, and entail an additional provision requirement of SEK -20 million. The credit loss ratio amounted to 0.00% of lending (0.01).

LENDING

Loans to the public increased by 5%, or SEK 77bn, to SEK 1,483bn (1,406). In Sweden, loans to the public increased by 5%, or SEK 64bn, to SEK 1,271bn (1,207).

FUNDING

Issues of Stadshypotek’s benchmark programme loans in Swedish kronor reached a nominal volume of SEK 54.0bn (66.7) during the period. And a nominal volume totalling SEK 51.0bn (52.1) matured or was repurchased. The carrying amount of the outstanding Swedish kronor bonds was SEK 481.9bn (485.8) at the end of the period.

Issues of bonds under the EMTCN programme totalled EUR - bn (-). The nominal outstanding volumes in the programme at the end of the period were EUR 9.2bn (10.4) and GBP 0.7bn (0.7).

The outstanding volume in the US programme totalled USD 1.3bn (1.3) at the end of the period. An issue in NOK was made for the nominal amount of NOK 8.0bn (6.0). The outstanding volume at the end of the period was NOK 29.0bn (25.5).

CAPITAL ADEQUACY

The total capital ratio according to CRD IV was 19.0% (21.1), while the common equity tier 1 ratio calculated according to CRD IV was 13.0% (13.4).

RATING

The ratings remained unchanged during the entire period.

Stockholm, 16 July 2020

David Haqvinsson
Chief Executive

This information is of the type that Stadshypotek is obliged to make public pursuant to the EU Market Abuse Regulation and the Swedish Securities Markets Act. The information was submitted for publication through the agency of the contact person set out above, at 11,00 CET on 16 July 2021.

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