Länsförsäkringar Hypotek: Year-end Report 2024
Länsförsäkringar Hypotek’s mortgage business continued to perform well in 2024.
”Länsförsäkringar Hypotek’s mortgage business continued to perform well in 2024.
Activity in the mortgage market increased slightly during the year and Länsförsäkringar remained successful and was the bank that reported the second highest growth in mortgage lending for the year. With a high level of activity locally, combined with the strength of our brand, we were able to continue to help existing and new customers.
Financial market sentiment remained predominantly positive in the second half of the year, while we continued to see signs of a recession. The housing market has shown signs of recovery during the year, resulting in rising prices.
Inflation in Sweden fell during the year, and we saw the Riksbank lower interest rates several times. However, households remained impacted by higher interest rates and costs of living, but our customers are continuing to show good resilience.
Länsförsäkringar Hypotek’s very high credit quality and strong financial position remain firm, and in light of this, we are convinced that we will be able to continue to offer security in people’s everyday lives. With our competitive mortgage offering and our strong local profile, we aim to continue to do new mortgage business with more and more of Länsförsäkringar's customers and to see volumes grow.”, says Anders Larsson, President of Länsförsäkringar Hypotek.
The periode in brief:
- Operating profit rose 5 % to SEK 1,707 M (1,629) and the return on equity amounted to 7.8% (7.9).
- Net interest income increased 25 % to SEK 2,858 M (2,285).
- Credit losses amounted to SEK 2 M (2), net, corresponding to a credit loss level of 0.00 % (0.00).
- Operating profit was impacted by fees levied of SEK 256 M, of which risk tax comprised SEK 139 M.
- Lending increased 7 % to SEK 336 billion (314).
- A Group contribution of SEK 650 M was paid at year-end.
- The Common Equity Tier 1 capital ratio amounted to 19.0 % (19.2*) on 31 December 2024.
Figures in parentheses pertain to the same period in 2023.
* Refers to 30 June 2024.
For further information, please contact:
Anders Larsson, President Länsförsäkringar Hypotek AB,
+46 (0)8 588 411 54, +46 (0)73 964 11 54
Martin Rydin, CFO Länsförsäkringar Bank AB,
+46 (0)8 588 412 79, +46 (0)73 964 28 23
Andreas Larsson, Head of Investor Relations Länsförsäkringar Bank AB,
+46 (0)10 498 7029, +46 (0)720 84 36 34
This report contains such information that Länsförsäkringar Hypotek AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication on 11 February 2025 at 12:00 p.m. CET.