Länsförsäkringar Bank: January – June 2022

“Our world changed dramatically in the first half of the year with Russia’s invasion of Ukraine. The geopolitical unrest has contributed to rising inflation and interest rates, weaker stock markets and reduced growth prospects. This creates a new situation for our customers who are faced with greater uncertainty combined with higher interest rates. In uncertain times, Länsförsäkringar serves an important function with our local profile close to customers, and our respect for customers’ security. A high rate of development activity continued in the banking operations, with digitising our lending processes as one of the most prioritised initiatives. In May, we launched the first stage – a fully digitised unsecured loan targeted to our existing customers. The aim is to provide our customers with fast and effective service, and also to be available for meetings with customers who need more qualified advisory services. During the quarter, we also launched our new securities system, which is one of the bank’s largest projects to date. We are pleased that we are continuing to deliver stable results in a period of uncertainty. We remain well prepared financially and our credit quality remains very high.” says Sven Eggefalk, President of Länsförsäkringar Bank.


The period in brief, Group


  • Operating profit declined 22% to SEK 952.7 M (1,228) and the return on equity amounted to 7.6% (10.7).
  • Net interest income declined 3% to SEK 2,361.7 M (2,427.7).
  • Net commission, excluding remuneration to the regional insurance companies, increased 9% to SEK 681.9 M (625.2).
  • Operating income increased 2% to SEK 2,344.7 M (2,294.5).
  • Operating expenses increased 8% to SEK 1,175 M (1,086).
  • Credit losses amounted to SEK 48.7 M (-80), net, corresponding to a credit loss level of 0.02% (-0.04).
  • Operating profit was impacted by fees levied of SEK 167.8 M during the period, of which risk tax comprised SEK 105.7 M.
  • Business volumes rose 2% to SEK 796.17 billion (782.1).
  • Deposits rose 10% to SEK 155.9 billion (142.1).
  • Lending increased 9% to SEK 385.6 billion (352.7). 
  • Fund volumes declined 6% to SEK 281.2 billion (298.3).
  • The Common Equity Tier 1 capital ratio for the Consolidated Situation amounted to 14.9% (15.1*) on 30 June 2022. Figures in parentheses pertain to the same period in 2021. *Pertains to 31 March 2022.


Figures in parentheses pertain to the same period in 2021.

* Refers to 31 March 2022.

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For further information, please contact:

Sven Eggefalk, President Länsförsäkringar Bank AB

+46 (0)8-588 414 37, +46 (0)70-240 47 04


Martin Rydin, CFO Länsförsäkringar Bank AB,

+46 (0)8-588 412 79, +46 (0)73-964 28 23




This report contains such information that Länsförsäkringar Bank AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication on 21 July 2022 at 13:00 p.m. CET.

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