Stadshypotek’s Interim Report January – June 2014

New Post Public Reply Private Reply Replies (0) Message Board

News Desk 2018

Jul 17, 2014 at 4:15 AM

JANUARY – JUNE 2014 COMPARED WITH JANUARY – JUNE 2013 Stadshypotek’s operating profit increased by 1%, or SEK 60m, to SEK 4,145m (4,085). Net interest income rose by SEK 188m to SEK 4,827m (4,639). SEK 517m (460) of the net interest income was attributable to the branch in Norway, SEK 186m (157) to the branch in Finland and SEK 103m (75) to the branch in Denmark. Excluding the branches, net interest income increased by SEK 74m, mainly due to higher lending volumes to both the private and corporate markets. The increase in net interest income at the Norwegian branch was also mainly attributable to higher lending volumes to both the private and corporate markets. The increase in net interest income at the Finnish branch can mainly be explained by higher lending volumes to the corporate market, while at the Danish branch it was mainly due to an increase in lending volumes to the private market. Net gains/losses on financial transactions decreased to SEK 82m (97). Expenses rose by SEK 113m to 757m (644). This was mainly due to an increase of SEK 89m in the compensation paid to the parent company for the services performed by the branch operations in Sweden on behalf of Stadshypotek in relation to the sale and administration of mortgage loans. Net loan losses totalled SEK 4m (4). Before deduction of the provision for probable loan losses, the volume of impaired loans was SEK 247m (233). Of this amount, non-performing loans accounted for SEK 195m (141), while SEK 52m (92) related to loans on which the borrowers pay interest and amortisation, but which are nevertheless considered impaired. There were also non-performing loans of SEK 708m (1,013) that are not classed as being impaired loans. After deductions for specific provisions totalling SEK -34m (-43) and collective provisions of SEK -4m (-4) for probable loan losses, impaired loans totalled SEK 209m (186). GROWTH IN LENDING Loans to the public increased by 8%, or SEK 70bn, compared to the end of the corresponding period in the previous year, and stood at SEK 995bn (925). In Sweden, loans to the public increased by 6%, or SEK 53bn, to SEK 863bn (810). Lending to the private market in Sweden increased by around 5%, or SEK 29bn, to SEK 561bn (532), which was in line with general market trends. FUNDING During the first six months of the year, covered bonds to the value of SEK 73bn were issued (95), with issues of covered bonds from Stadshypotek’s benchmark series accounting for SEK 41.6bn (59.1). In Norway, bonds to the value of NOK 4bn (4) were issued during the period. Issues of covered bonds under the EMTCN programme totalled the equivalent of approximately EUR 1.6bn (3.6). CAPITAL ADEQUACY The total capital ratio according to CRD IV was 60.9% (59.5) while the Tier 1 ratio calculated according to CRD IV was 40.2% (44.3). Further information on capital adequacy is provided in the ‘Capital base and capital requirement’ section on page 21. RATING Stadshypotek’s ratings remained unchanged during the period. +-----------------+-------------+---------+----------+ |Stadshypotek |Covered bonds|Long-term|Short-term| +-----------------+-------------+---------+----------+ |Moody’s | Aaa| -| P-1| +-----------------+-------------+---------+----------+ |Standard & Poor’s| | AA-| A-1+| +-----------------+-------------+---------+----------+ |Fitch | | AA-| F1+| +-----------------+-------------+---------+----------+ Stockholm, 17 July 2014 Ulrica Stolt Kirkegaard Chief Executive Stadshypotek discloses the information provided herein pursuant to the Securities Markets Act. Submitted for publication on 17 July 2014, at 10.00 CET.

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

CVS Study: GLP-1 Drugs Effective But Costly

Can GLP-1s Deliver Value at Their Current Price? Alright, folks, here's a real-world gut check from CVS Health. They crunched some numbers using Aetna's anonymized claims data, and the results are eye-opening. These GLP-1s are showing promising health outcomes—lower hospital visits, better clinical results, yada yada. But when it comes to savings, they ain't quite...

D-Wave Quantum Hit with Securities Fraud Lawsuit

A Legal Quagmire for D-Wave Quantum Investors Securities fraud lawsuits are like light in a dark alley—you need them when the truth's been stashed out of sight, but they illuminate the dirty and damp parts of investment strategies nobody wants to talk about. Right now, D-Wave Quantum Inc. is smack dab in the middle of such litigious action. If you had the misfortune of...

Employment Law Suit Hits ABC: Alleged Wage Violations

ABC Under Fire for Labor Code Violations You know it's a rocky road when a company like American Broadcasting Companies, Inc. lands itself in hot water with accusations riding high on labor law violations. People yapping about lunch breaks? Well, that’s the ball game here. Meal and Rest Break Controversies According to a recent lawsuit filed by Blumenthal Nordrehaug...

HONGQI's EHS4 Launch in Europe: Bridging East and West

Revving Up a New Chapter: HONGQI in Venice There's a new player in the European automotive scene, and it's rolling in with more style than a Venetian gondola. HONGQI, a name that's been turning gears in China since '58, is packing its suitcases full of Eastern elegance and landing straight in Venice with the all-electric EHS4. On November 16, the brand is set to unveil...

InstaHeat 35K: FOGATTI Offers Upgraded RV Furnace Control

Winter RV Trips Just Got Cozier There's nothing quite like hitting the open road in an RV during the winter months. But let's face it, nobody wants to return to a cabin that's as frigid as the great outdoors. Here's where FOGATTI steps up its game with the InstaHeat Ultra 35K RV Furnace. They’ve tinkered with the thermostat to iron out more precise control, just in time...

Championing Change: USTA Mid-Atlantic Gala's Impact

A Night to Remember: USTA Mid-Atlantic's Gala Who would've thought tennis could wield such transformative power? This ain't your average sport gala. Last Saturday, a crowd of over 300 gathered at the Ritz-Carlton Tysons Corner for the USTA Mid-Atlantic Foundation's 2026 Tennis Creates Gala. Hosted by the formidable Malika Andrews, this event wasn't just a fancy...

KINGRVER Boosts RV Comfort with New Water Heater Lineup

An Upgrade for the Open Road In the land of RV living, comfort is king—or in this case, KINGRVER. Dropping affordable upgrades for water heaters into the world of RVs, KINGRVER's CT6 lineup is like a warm hug on a chilly campsite morning. Whether you've pulled up to a wooded retreat or parked under the vast desert sky, having dependable hot water shouldn't be a gamble....

Viking Ventures: Impacts of VK2735 on Obesity Examined

Viking Therapeutics Reveal Surprising Data on VK2735 The latest from Viking Therapeutics' camp is giving obesity some serious food for thought, with new data making waves at the ObesityWeek® 2026 meeting. Their investigational dual agonist, VK2735, seems to be shaking things up, as early phase clinical data shows an impressive 74% of participants managed to improve at...

EZaccessMD Data Breach: Class Action Lawsuit Looms

Data breaches are the bogeyman no one wants lurking in the shadows, and when it’s your personal info at stake, folks rightfully squirm. This recent fiasco at EZaccessMD is one of those unsettling incidents. The word on the street isn't pretty: sensitive medical data has slipped through the cracks, leaving Edelson Lechtzin LLP, a heavyweight in class action maneuvers, to...

Novo's CagriSema Trials Show Promising Weight Loss

Decoding CagriSema's Promise Let me tell you, when those corporate folks from Novo Nordisk announce something big like their investigational drug CagriSema at ObesityWeek® 2026, it’s time to take notice. This isn’t just your average press release about some new weight loss fad. We’re talking about a phase 3 REDEFINE 1 trial that opens up a treasure chest of data...