Länsförsäkringar Hypotek: January – December 2021

"Länsförsäkringar’s retail mortgage operations continued to perform well in 2021. Operating profit was positive, driven by a favourable trend in net interest income. Growth in lending continued during the year, although the market was slightly more challenging given the prevailing fierce competition. We are continuing to work intensively following our strategy and Länsförsäkringar’s banking operations has implemented several initiatives that will develop business, both locally and through our digital channels. 2021 was largely impacted by the COVID-19 pandemic, which continued to have a tangible effect on society at large as well as on the housing market, where we have seen a clear continuing strong demand for larger residential properties both in and outside the large cities. Housing prices reached new record-breaking levels during the year while housing construction accelerated further in 2021.”, says Anders Borgcrantz, President of Länsförsäkringar Hypotek.

The year in brief:
 

• Operating profit increased 6% to SEK 1,433 M (1,348) and the return on equity amounted to 8.2% (8.2).
• Net interest income rose 3% to SEK 2,696 M (2,612).
• Credit losses amounted to SEK –4.2 M (0.8), net, corresponding to a credit loss level of –0.00% (0.00).
• Lending increased 7% to SEK 278.5 billion (259.5).
• The Common Equity Tier 1 capital ratio amounted to 17.8% (18.6) on 31 December 2021.
  
  Figures in parentheses pertain to the same period in 2020.
  * Pertains to 30 September 2021.
   

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 Bank AB,

+46 (0)8-588 412 79, +46 (0)73-964 28 23

Stefan Karkamanis, Head of Investor Relations, Länsförsäkringar Bank AB,

+46 (0)8-588 402 90, +46 (0)72-310 00 80

This report contains such information that Länsförsäkringar Hypotek AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on 11 February 2022 at 12:00 a.m. CET.

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.