Landshypotek Bank’s Year-end report January – December 2021: Record-breaking year for Landshypotek Bank

Landshypotek grew more strongly in the lending market during the year than ever before. The bank’s total lending volume increased SEK 11 billion and operating profit improved 20 percent. This can be seen in the year-end report for January – December 2021.

During the year, Landshypotek’s volume of loans outstanding grew SEK 11.0 billion, or 13 percent, to close with total loans outstanding of SEK 94.0 billion (83.0). The full-year operating profit of SEK 471 million (397) comprised an improvement of 19 percent. This is historically strong growth.

The bank’s lending grew both to farmers and foresters and to mortgage customers.

“The historically strong growth is gratifying and, above all, confirmation both of our many positive achievements in our strategic work and of the considerable need in the market for a customer-centric niche bank for lending on farming and forest properties as well as to houseowners,” says Per Lindblad, CEO of Landshypotek Bank.

Landshypotek’s business revolves around lending against real estate collateral. On this basis, in combination with extensive experience that creates customer security, the bank has developed its marketing and customer meetings as well as initiated several strategic partnerships. More and more people are discovering and becoming customers of Landshypotek Bank.

“For a long time, we have systematically worked to improve from a customer perspective as well as to be able to meet more customers and different customer groups. Demand has been so strong that, at times during the year, it posed challenges to us in meeting all customers, but we are now dimensioning for this,” continues Per Lindblad.

The increased lending volumes to farmers and foresters, those living on farms and houseowners generates more stable earnings, which is important for our development into a long-term sustainable bank. Loan customers now exceed 51,000. At the same time, costs remain under control and credit quality is good.

“The growth confirms the need for a bank with a difference in the banking market. We are the small bank with a clear and transparent objective, the bank large enough to challenge the market while remaining safe and appealing for customers. The growth confirms that customers appreciate what we do

More information is available in the Year-end report regarding the results as well as events in the world around us in terms of the financial markets generally, and farming and forestry.

The full report is attached.

For more information, please contact:

Jonas Feinberg, Press Officer, +46 70 349 24 10

About Landshypotek Bank

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. Historically, lending has focused on customers for farming and forestry, but now also includes homeowner mortgages and savings. Landshypotek Bank is owned by some 36,500 farming and forestry customers, who are organised as a cooperative association. The bank has almost 210 employees located at branches across Sweden.

Summary of the interim report
January – December 2021
compared with January – December 2020

  • Operating profit amounted to SEK 471 million (397).
  • The underlying operating profit, excluding the net result of financial transactions, was SEK 486 million (414).
  • Net interest income amounted to SEK 972 million (872).
  • Costs totalled SEK 498 million (478).
  • Net credit losses positively impacted earnings by SEK 5 million (positive: 13).
  • Loans to the public amounted to SEK 94.0 billion (83.0).
  • Deposits from the public totalled SEK 15.3 billion (14.7).

October – December 2021
compared with July – September 2021

  • Operating profit amounted to SEK 108 million (144).
  • The underlying operating profit, excluding the net result of financial transactions, was SEK 115 million (144).
  • Net interest income amounted to SEK 251 million (249).
  • Costs totalled SEK 140 million (106).
  • Net credit losses positively impacted earnings by SEK 4 million (negative: 1).
  • Loans to the public amounted to SEK 94.0 billion (90.6).
  • Deposits from the public totalled SEK 15.3 billion (15.0).

Landshypotek Bank AB is required to disclose this information pursuant to the Securities Market Act (2007:528). This information was submitted for publication on 4 February 2022 at 8:00 a.m. (CET).

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