Interim report: Historically strong lending growth for Landshypotek Bank
In the third quarter, Landshypotek strengthened its growth adding more customers and increasing its lending volume. During the period, the bank’s total lending to farmers and foresters, and mortgage customers passed SEK 90 billion. The bank is presenting its interim report for the third quarter of the year today
In the first three quarters, Landshypotek Bank’s net lending was SEK 7.6 billion, which was more than for all of 2020. The total lending volume passed SEK 90 billion in the quarter, noting growth in lending to farmers and foresters, and to mortgage customers.
With increased lending and costs and credit losses under control, the bank is also reporting healthy earnings for the third quarter of SEK 144 million. Strong earnings for the first three quarters of the year amounted to SEK 371 million (299).
“We are a growing bank and, to date, we have had a very strong year, both in terms of earnings and in terms of growth with more customers and higher volumes. What we are now noting is the result of the long-term focus we have applied at the bank. We have systematically endeavoured to become more customer-centric and develop our services to meet more customers and different customer groups. It is pleasing to now see that customer interest in Landshypotek is greater than ever before,” says Per Lindblad, CEO of Landshypotek Bank.
More information is available in the interim report regarding the results as well as events in the world around us in terms of the financial markets, and farming and forestry.
The full report is attached.
Summary of the interim report
January – September 2021
compared with January – September 2020
• Operating profit amounted to SEK 363 million (291).
• Underlying operating profit, excluding the net result of
financial transactions amounted to SEK 371 million (299).
• Net interest income amounted to SEK 721 million (636).
• Costs totalled SEK 357 million (350).
• Net credit losses positively impacted earnings by SEK 1 million (positive: 8).
• Loans to the public amounted to SEK 90.6 billion (80.0).
• Deposits from the public amounted to SEK 15.0 billion (14.6).
July – September 2021
compared with April – June 2021
• Operating profit amounted to SEK 144 million (103).
• Underlying operating profit, excluding the net result
of financial transactions, was SEK 144 million (111).
• Net interest income amounted to SEK 249 million (239).
• Costs totalled SEK 106 million (129).
• Net credit losses negatively impacted earnings by SEK 1 million (negative: 2).
• Loans to the public amounted to SEK 90.6 billion (88.6).
• Deposits from the public amounted to SEK 15.0 billion (14.9).
Landshypotek Bank AB is required to disclose this information pursuant to the Securities Market Act (2007:528). This information was submitted for publication on 1 November 2021 at 8:00 a.m. CET.
For more information, please contact:
Jonas Feinberg, Press Officer, email@example.com, +46 70 349 24 10
Landshypotek – financing farming and forestry since 1836
Landshypotek was founded in 1836 and is currently one of the ten largest lending banks in Sweden. The bank is deemed systemically important for the farming and forestry industries, and is owned by its some 36,500 farming and forestry customers, who are organised as a cooperative association. Landshypotek has just over 200 employees, over 100 elected representatives and is operational throughout Sweden.