Länsförsäkringar Hypotek: Interim report, January-March 2006
4/25/2006 5:23 AM EST
“Covered bonds are a logical next step to further strengthen the Company’s position, and will enable us to offer current and new customers even better prices on mortgage loans. Our aim is to achieve a Triple A rating on the Company’s borrowings. This will ensure that we are well placed to offer more investors an attractive investment alternative, while reducing our borrowing costs”, says Anders Borgcrantz, President and CEO of Länsförsäkringar Hypotek.
Summary
Lending increased by 28%, from SEK 25 billion to SEK 32 billion.
The market share for mortgage lending rose from 2.6% to 2.9%.
The market share of new lending was 5%.
The number of home mortgage customers increased by 16% to 85 000 (73 000).
Operating income amounted to SEK 8 M (6).
Net interest income increased by 9% to SEK 47 M (43).
Capital adequacy was 11.5% (11.6) and the Tier 1 ratio 9.6% (9.4).
In the third quarter of 2006, Länsförsäkringar Hypotek will submit an application to
the Swedish Financial Supervisory Authority for permission to issue covered bonds.
Figures in parentheses pertain to January-March 2005.
Read the entire report:
www.lansforsakringar.se/reportsFor further information contact:
Anders Borgcrantz
President Länsförsäkringar Hypotek AB
+46 8 588 412 51
+46 73 96 412 51
Christer Baldhagen
Senior Vice President Corporate Communications Länsförsäkringar AB
+46 8 588 415 01
+46 70 579 70 66