2017 annual reports — Landshypotek Bank committed to all of Sweden
Today, Landshypotek Bank and Landshypotek Ekonomisk Förening publish their 2017 annual reports. Landshypotek Bank posted strong earnings and has a growing presence in the lending and savings markets. In autumn 2017, Landshypotek Bank completed a successful mortgage market entrance.
The volume of loans outstanding increased SEK 2 billion to SEK 68.5 billion (66.5) during the year. Deposits also rose and totalled SEK 12.7 billion (11.7) at year end.
In 2017, the bank welcomed more farming and forestry loan customers as well as savers. The bank also opened its doors to providing mortgages to homeowners outside of the major cities with its successful mortgage market entry.
“Our underlying earnings posted a historic high. Above all else, we have had a great autumn with a successful market launch of our mortgage loans and a substantial increase in our visibility. This means we have been able to welcome numerous new customers — both for farming and forestry and for mortgages — to our bank,” says Catharina Åbjörnsson Lindgren, Acting CEO of Landshypotek Bank.
The Annual Report provides more comments on and descriptions of the bank’s and the association’s development over the past year. It also sets out Landshypotek Bank’s foundation as a bank with a difference, together with digitalisation innovation, sustainability perspectives, member and employee commitment, and the values-driven assignment for Swedish farming and forestry.
Landshypotek Bank is owned by its loan customers and organised as a cooperative association, Landshypotek Ekonomisk Förening. The bank’s profits are reinvested in operations and distributed to members. Should this year’s proposed dividend be adopted, SEK 900 million will have been returned to farming and forestry loan customers over the last six years.
Following a Group contribution of SEK 170 million from the bank to the association, the association’s Board proposes a dividend of 9 percent on member contributions, corresponding to SEK 153 million. The dividend resolution will be taken at the General Meeting in April.
“It is fantastic to work at a values-driven bank where it is clear where the profits go. It is an important part of our mission to continue to ensure that it is possible to run farming and forestry companies, to produce Swedish food and to have well-kept forests in Sweden. Our customers make Sweden a better place,” says Catharina Åbjörnsson Lindgren.
This information is information that Landshypotek Bank AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication at 13:30 pm CET on 16 March 2018.
At a glance — figures for Landshypotek Bank 2017
Operating profit amounted to MSEK 339.2 (353.4). The underlying operating profit, excluding the net result of financial transactions, was MSEK 387.3 (327.3).
Net interest income amounted to MSEK 800.4 (737.2).
Costs totalled MSEK 402.5 (402.4).
Net loan losses declined and amounted to MSEK 12.5 (14.8).
Lending amounted to SEK 68.5 billion (66.5).
Deposits amounted to SEK 12.7 billion (11.7).
For further information and comments, please contact:
Sofie Essayh, Communication and Press Officer at Landshypotek Bank, +46 70 2851363
Catharina Åbjörnsson Lindgren, Acting CEO, and Fredrik Sandberg, CFO and Acting Deputy CEO, can be contacted through Sofie Essayh.