Länsförsäkringar Hypotek: January – September 2019

”Länsförsäkringar Hypotek continued to strengthen its position in the mortgage market and we have now reached a market share of 7% of retail mortgage lending. At the same time we have also captured a significant share of new mortgages during the first eight months of the year. We can see that the competition in the mortgage market has intensified and new mortgage initiatives continue to be introduced by both new and established players. Länsförsäkringar Hypotek is continuing to perform positively and operating profit trended positively in light of strong net interest income. Lending growth was stable, while credit quality remains very high. Great focus remains on the housing market and the price trend for the year to date was stable despite signs that we are facing a macro economic slowdown. We continue to seek structural political reforms for creating a healthier and better functioning housing market that fundamentally addresses the imbalances that exist today in terms of supply and demand for housing”, says Anders Borgcrantz, President of Länsförsäkringar Hypotek.

The period in brief:
 

• Operating profit increased 9% to SEK 889.9 M (819.1) and the return on equity strengthened to 7.9% (7.8).
• Net interest income rose 4% to SEK 1,889 M (1,822).
• Credit losses amounted to SEK –0.8 M (–1.2), net, corresponding to a credit loss level of –0.00% (–0.00).
• Lending increased 10% to SEK 236.1 billion (215.6).
• The Common Equity Tier 1 capital ratio amounted to 18.0% (17.8*) on 30 September 2019.
  
  Figures in parentheses pertain to the same period in 2018.
  * Pertains to 30 June 2019.

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

This is information that Länsförsäkringar Hypotek AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 12:00 CET on 24 October 2019.

     
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.