Länsförsäkringar Hypotek
About Länsförsäkringar Hypotek
One of Sweden’s largest mortgage institutions
Länsförsäkringar Hypotek is one of Sweden's largest mortgage institutions. The strategy is based on the Länsförsäkringar Alliance's large customer base, a strong brand and local presence through the customer-owned regional insurance companies.
Mortgages are primarily offered to the slightly more than 3.9 million customers of the Länsförsäkringar Alliance. Customer contact takes place during personal meetings at 115 of the regional insurance companies' branches throughout Sweden and via digital services and telephone.
The aim is, based on low risk, to continue to have growth in volumes and profitability, have the most satisfied customers and increase the share of customers who have both banking and insurance with Länsförsäkringar.
Contacts
Länsförsäkringar Hypotek AB (publ)
Street address: Tegeluddsvägen 11-13
Postal address: SE-106 50 Stockholm
Telephone: +46 8 588 400 00
Anders Larsson
President, Länsförsäkringar Hypotek AB
+46 8 588 411 54
+46 73 964 11 54
anders.larsson2@lansforsakringar.se
Martin Rydin
CFO, Länsförsäkringar Bank AB
+46 8 588 412 79
+46 73 964 28 23
Martin.Rydin@lansforsakringar.se
Financial Information
Year-end report 2023
The period in brief
- Operating profit rose 14% to SEK 1,629 M (1,423) and the return on equity amounted to 7.9% (7.5).
- Net interest income declined 15% to SEK 2,285 M (2,692).
- Credit losses amounted to SEK 2 M (4), net, corresponding to a credit loss level of 0.00% (0.00).
- Operating profit was impacted by fees levied of SEK 240 M, of which risk tax comprised SEK 130 M.
- Lending increased 6% to SEK 314 billion (297).
- A Group contribution of SEK 200 M gross and SEK 159 M net after tax was paid at year-end.
Figures in parentheses pertain to the same period in 2022.
* Pertains to 30 June 2023.
Read the full report from Länsförsäkringar Hypotek
| Financial calendar 2024 | |
|---|---|
| Date | Report |
|
19 July 2024 |
Half-year Report 2024 |
Five Year Financial Summary (pdf)
Funding
EMTN Prospectuses
EMTN Prospectuses
In nominal values and excluding repurchase agreements, as of June 30, 2022.
| Funding programmes | |||
|---|---|---|---|
| Limit Nom | Outstanding Nom | Remaining average term | |
| Benchmark | Unlimited | SEK 173.5 billion | 3.2 years |
| Medium Term Covered Note | SEK 30 billion | SEK 15.7 billion | 3.1 years |
| Euro Medium Term Covered Note | EUR 6 billion | SEK 34.7 billion | 3.3 years |
| Total | SEK 224.0 billion | 3.3 years | |
Current Rating – Covered Bonds
Long Term Credit Rating
- Standard & Poor's: AAA/Stable
- Moody's: Aaa
Historical Ratings
2007 May Länsförsäkringar Hypotek's covered bonds graded Aaa from Moody's.
2007 June Länsförsäkringar Hypotek's covered bonds graded AAA long-term and A-1 + short-term from Standard & Poor's.
Risks and Capital Adequacy
Länsförsäkringar Hypotek applies the Internal Ratings Based (IRB) approach. The Foundation IRB Approach is applied to household risk exposure and for counterparty exposures to corporates and the agricultural sector up to SEK 5 M.
The Foundation IRB Approach is applied for counterparty exposures to corporates and the agricultural sector above SEK 5 M. The Standardised Approach is applied to other exposures.
As of December 31, 2023
- Core Tier 1 and Tier 1 capital amounted to SEK 16,626 M
- Core Tier 1 and Tier 1 ratio was 19.2%
- Capital base amounted to SEK 16,626 M
- The total capital ratio 19.2%
Pillar 3 disclosure
Länsförsäkringar Hypotek presents its Risk and Capital Management Report in accordance with the Capital Requirements Regulation or CRR.
Pillar 3 information
December 31 2023
Cover Pool
Collateral comprises only private homes, including single-family homes, tenant-owned apartments and, to a marginal extent vacation homes. Lending only takes place in Sweden and the geographic distribution in Sweden is well-allocated. All lending is in SEK and all foreign currency is swapped to SEK.
Länsförsäkringar Hypotek gives information in accordance with the ECBC "The Covered Bond Label", a common standard for increased transparency in the European covered bond market.
Read more about The Covered Bond Label
Corporate Governance
Board of Directors
- Sven Eggefalk Chairman, born 1969. Board member since 2018.
- Susanne Calner, born 1969. Board member since 2022.
- Bengt Clemedtson, born 1964. Board member since 2022.
- Jonas Ekegren, born 1971. Board member since 2022.
- Martin Rydin, born 1968. Board member since 2022.
- Tobias Ternstedt, born 1972. Board member since 2022.
Management
- Anders Larsson born 1965, President