“Our mortgage offering remained successful in the market. Our volumes increased and we strengthened our market share. I am also very pleased that we have Sweden’s most satisfied retail mortgage customers for the sixth time and the fifth consecutive year, according to the Swedish Quality Index. This shows that Länsförsäkringar has an excellent relationship with the customers in a highly competitive market. Our credit quality was favourable and our loan portfolio mainly comprised private homes with a good geographic spread in Sweden. We have a favourable level of capitalisation to enable continued growth and our financial situation is strong,” says Anders Borgcrantz, President of Länsförsäkringar Hypotek.
- Operating profit increased 9% to SEK 141 M (129).
- Net interest income declined 21% to SEK 285 M (361).
- Net profit from financial transactions rose to SEK 77 M (9).
- Lending increased 26% to SEK 68 billion (54).
- Credit quality was highly favourable and the operations maintained a low risk profile.
- Loan losses amounted to positive SEK 5 M (0), net.
- The Tier 1 ratio according to Basel II was 20.3% (21.6) and the capital adequacy ratio was 24.2% (27.6).
- According to the 2009 Swedish Quality Index, Länsförsäkringar has Sweden’s most satisfied retail mortgage customers for the sixth time.
- The number of customers rose to 134,00 (115,000).
Figures in parentheses pertain to 2008.
The full report is available below or at www.lansforsakringar.se/reports.
For further information, contact
President, Länsförsäkringar Hypotek AB
+46 (0)8-588 412 51
+46 (0)73-96 412 51
Executive Vice President and Finance Manager, Länsförsäkringar Hypotek AB
+46 (0)8-588 410 73
+46 (0)73-96 410 73
Senior Vice President Corporate Communications, Länsförsäkringar AB
+46 (0)8-588 415 01
+46 (0)70-579 70 66