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2016-10-25

Länsförsäkringar: Länsförsäkringar Bank: Interim Report January - September 2016

"Länsförsäkringar Bank continued to perform strongly and we can yet
again report our best ever quarterly results. We recorded healthy
growth during the period with increased business volumes and further
improved market position within all segments. We re-confirmed our
position as the bank with the most satisfied customers as we once
again rank first in terms of customer satisfaction in the Swedish
Quality Index survey of 2016 (SKI). The continued high customer
inflow confirms that the customers appreciate our focus on the
customer meeting and our strong local presence combined with the
market leading digital services within our banking offering." says
Rikard Josefson, President of Länsförsäkringar Bank.

The period in brief, Group
· Operating profit increased 25% to SEK 1,077M (863) and the return
on equity strengthened to 10.0% (8.9).

· Net interest income increased 15% to SEK 2,513 M (2,189).
· Operating income increased 12% to SEK 2,280 M (2,030).
· Operating expenses declined 1% to SEK 1,168 M (1,176).
· Loan losses amounted to SEK 35.2 M (-8.9*), net, corresponding to
loan losses of 0.02% (-0.01).

· Business volumes increased 13% to SEK 441.7 billion (390.0).
· Deposits rose 10% to SEK 90.0 billion (81.6).
· Lending increased 12% to SEK 219.3 billion (196.3).
· The Common Equity Tier 1 capital ratio for the consolidated
situation amounted to 20.8% (20.3**) on 30 September 2016.

· The number of customers with Länsförsäkringar as their primary
bank rose 11% to 408,000 (367,000), and the number of bank cards
increased 11% to 505,000 (456,000).

*) The comparative figure includes the dissolution of reserves
amounting to SEK 60 M.

**) Pertains to 30 June 2016.
Figures in parentheses pertain to the same period in 2015.
http://www.lansforsakringar.se/om-oss/in-english/financial-reports/lansf...
For further information please contact:

Rikard Josefson, President, Länsförsäkringar Bank AB,
+46 (0)8-588 410 75, +46 (0)70-206 69 55
Anders Borgcrantz, Executive Vice President and CFO, Länsförsäkringar
Bank AB, +46 (0)8-588 412 51, +46 (0)73-964 12 51
Martin Rydin, Vice Executive President, Länsförsäkringar Bank AB,
+46 (0)8-588 412 79, +46 (0)73-964 28 23
The Länsförsäkringar Alliance comprises 23 local and customer-owned
regional insurance companies and the jointly owned Länsförsäkringar
AB. Customers are provided with a complete offering of banking and
insurance services through their local, regional insurance companies.
We offer animal and crop insurance through Agria Djurförsäkring and
total solutions for reliable mortgage transactions are offered
through Länsförsäkringar Fastighetsförmedling.

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http://news.cision.com/lansforsakringar/r/lansforsakringar-bank--interim...
http://mb.cision.com/Main/152/2108114/579818.pdf

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