As a bank, Landshypotek Bank also grew stronger during the year. Landshypotek Bank is building to meet more bank customers — both current and future — through initiatives including our digitalisation and system improvements. In 2017, the bank will welcome more farming and forestry loan customers as well as savers. The bank is also now opening opportunities to offer mortgage loans to homeowners outside the major cities.
“Banking alternatives are needed outside the major cities. We are secure in our assignment for the farming and forestry sectors. Our history together with our lending to farming and forestry provides a solid foundation for developing into a broader bank open to more customers. More and more people will now be able to benefit from a better bank with a difference in the Swedish banking market,” writes Liza Nyberg, CEO of Landshypotek Bank, in Landshypotek Bank’s Annual Report.
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 society, Landshypotek Ekonomisk Förening. The bank’s profits are reinvested in operations and distributed to members. Should this year’s proposed dividend be adopted, SEK 750 million will have been returned to farming and forestry loan customers over the last five years.
Following a Group contribution of SEK 176 million from the bank to the association, the association's Board proposes a dividend of 10 percent on member contributions, corresponding to SEK 158 million. The decision regarding the dividend will be taken at the General Meeting on 27 April.
“It is fantastic to work at a bank where it is clear where the profits go. It is also an important part of our mission to continue to ensure that it is possible to run farming and forestry companies, produce food and have well-kept forests in Sweden. Our customers make Sweden a better place,” says Liza Nyberg.
At a glance — figures for Landshypotek Bank 2016
- Operating profit amounted to MSEK 353.4 (330.6) The underlying operating profit, excluding the net result of financial transactions, was MSEK 327.3 (322.8).
- Net interest income amounted to MSEK 727.2 (743.4).
- Costs totalled MSEK 404.3 (387.2)
- Net loan losses declined and amounted to MSEK 14.8 (45.9).
- Lending amounted to SEK 66.5 billion (64.5).
- Deposits amounted to SEK 11.7 billion (10.3).
Read the Landshypotek Bank Annual Report 2016
For further information and comments, please contact:
Tomas Uddin, Chief Communications Officer at Landshypotek Bank, +46 70 299 24 08
Liza Nyberg, CEO, and Fredrik Sandberg, CFO, can be contacted through Tomas Uddin.
About Landshypotek Bank
Landshypotek Bank is Sweden’s ninth largest bank and is tasked with providing competitive financing to Sweden’s farmers and foresters. The bank also offers favourable savings accounts to anyone who holds the countryside dear to their heart. In the spring, the bank will start offering mortgage loans to homeowners. Landshypotek Bank has around 160 employees and has offices in 19 locations across Sweden.