Interim report 1 January – 30 June 2014: Volume growth

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

News Desk 2018

Jul 18, 2014 at 3:15 AM

Interim report 1 January – 30 June 2014: Volume growth and stronger profits

SBAB’s CEO, Per Anders Fasth, comments: SBAB’s operating profit, which continued to grow stronger in the second quarter of the year, amounted to SEK 502 million. Return on equity amounted to 14.3%, exceeding the 10% target. Positive volume growth The lending business remained affected by strong competition in the market, but SBAB still experienced positive volume growth in the quarter. New lending to households rose, while new lending to companies and tenant-owner associations were in line with the previous quarter. SBAB’s total lending amounted to SEK 259 billion at midyear. During the period, SBAB adapted its residential mortgage product according to the Swedish Bankers’ Association’s recommendation regarding individual repayment plans, which entered into effect on 1 July. The second quarter was also characterised by continued stable growth in deposits, which now amount to SEK 55 billion. Positive information from Moody’s Early in the year, the rating agency Moody’s initiated a review of SBAB’s rating, which could have resulted in a potential downgrade. The review was finalised in June, whereupon the current long- and short-term ratings were confirmed by Moody’s. New CEO in August In June, the Board of Directors made a decision on the appointment of new CEO of SBAB. I therefore welcome Klas Danielsson, who begins his new role on 14 August. Second quarter of 2014 compared with the first quarter of 2014 · Operating profit totalled SEK 502 million (340) · Profit, excluding net result from financial instruments, amounted to SEK 273 million (258) · Net interest income amounted to SEK 514 million (496) · Expenses totalled SEK 219 million (219) · The net effect of loan losses amounted to a gain of SEK 20 million (gain 1) · Return on equity was 14.3% (10.8), and 8.4% (8.2) excl. net result from financial instruments · The Common Equity Tier 1 capital ratio, without transitional rules, amounted to 23.5% (22.6) · New lending for the quarter amounted to SEK 11.7 billion (9.5) and the total lending volume was SEK 259.0 billion (258.0) · New deposits for the quarter amounted to SEK 3.5 billion (6.1) and the total volume of deposits was SEK 55.5 billion (52.0) January–June 2014 compared with January–June 2013 · Operating profit totalled SEK 842 million (584) · Profit, excluding net result from financial instruments, amounted to SEK 531 million (620) · Net interest income amounted to SEK 1,010 million (1,040) · Expenses totalled SEK 438 million (396) · The net effect of loan losses amounted to a gain of SEK 21 million (gain 29) · Return on equity was 12.6% (10.7), and 8.4% (10.7) excl. net result from financial instruments · The Common Equity Tier 1 capital ratio, without transitional rules, amounted to 23.5% (23.8) SBAB’s interim report is available for download from: www.sbab.se/investor For further information, please contact: Per Anders Fasth, CEO Telephone: +46 8-614 43 01, per.anders.fasth@sbab.se Adrian Westman, Head of Corporate Communications Telephone: +46 735 09 04 00, adrian.westman@sbab.se (adrian.westman@sbab.se) SBAB’s business concept is to provide a new banking experience to consumers in Sweden by treating every customer as unique and being the bank that is easiest to access and understand. Today, savings and loans services are offered to private individuals, tenant-owner associations and companies. SBAB was founded in 1985 and is owned by the Swedish state. SBAB has about 350,000 customers and some 480 employees. Read more at www.sbab.se/2/in_english.

Newer

Older

Scroll down for more posts ▼

Top 10 Most Recent News Articles

Portillo's Faces Class Action: Investor Losses at Stake

Investor Tensions Rise as Portillo's Inc. Lawsuit Unfolds Investment ain't all sunshine and rainbows, and if you've been holding Portillo's Inc. (NASDAQ: PTLO) stocks between September 19, 2023, and May 4, 2026, you might find yourself caught in a storm front. We're talking shareholder class action lawsuit, folks, thanks to some allegedly misguided management moves. This...

IDEAYA's IDE101: A New Front in Cancer Battle

IDEAYA's Bold Move in Precision Medicine IDEAYA Biosciences, no stranger to the frontlines of cancer treatment, is gunning for a breakthrough with their latest pick, IDE101. They're jumping into the ring with a potential first-in-class inhibitor targeting CDKN2A-deficiency—a notorious player in the solid tumor game. They're not just mixing things up for the sake of it;...

Princess Cruises Launches New Era at Celebration Key

Never thought I'd see the day when a cruise ship docking would stir such excitement, but here we are. The Star Princess has made its grand debut at Celebration Key, the latest jewel in Princess Cruises' crown. And they're going all out with Bahamian flair—something about a Junkanoo band and beach art that would make even the crustiest sailor crack a smile. Inaugural Fun...

Pan-Mass Challenge Gifts $80M to Dana-Farber for 2026

A Momentous Gift in a Crunch Time for Cancer Research Biking and philanthropy might seem like an odd duo, but let me tell you, the Pan-Mass Challenge (PMC) is making that partnership look like peanut butter and jelly. This year, PMC rolled out a jaw-dropping $80 million gift to the Dana-Farber Cancer Institute. You heard right—eighty million smackeroos. Talk about going...

Beef 'O' Brady's Expands Into Tuscaloosa Market

A New Player in Town: Beef 'O' Brady's Lands in Tuscaloosa Listen up, sports fans and pub grub lovers of Tuscaloosa! Beef 'O' Brady's just kicked down the doors and expanded its reach, opening a location smack on McFarland Boulevard. The place threw open its doors on October 26 and is set to make waves in the local scene, driven by the dedicated hands of Mitul Patel and...

Ambrosia Biosciences Unveils Promising Nonclinical Metabolic Data

Ambrosia's Latest Nonclinical Revelations Ambrosia Biosciences has just thrown out some major bait at ObesityWeek® 2026. The highlight? New nonclinical data profiles for two of their understudy small molecule programs—AMB-895 and AMB-131. It may sound niche, but in this sector, promising data spins heads. Their GLP-1 receptor agonist, AMB-895, and GIP receptor...

JOYEE N01 Debuts Globally with First 2,000 Deliveries

JOYYE N01 Breaks into the Global Market Now, here we go, folks—a Chinese car with ambitions bigger than the Sahara. On October 28, the JOYEE N01 rolled off the assembly line and into the international scene with a lot of fanfare at FAW's Yancheng Branch. Mark my words, this isn't just another model trying to strut into the global auto arena. This event delivered the...

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...

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...

Shenzhen's Vision Unveiled: APEC 2026 Promo Debut

Shenzhen's Spotlight Moment at APEC 2026 When Shenzhen announced its promotional video for the 2026 APEC Economic Leaders' Meeting, it wasn't just about standard tourism glitz. This was a show of force, a bold step onto the main stage of global politics and economics. The video's launch wasn’t merely an audio-visual delight—it staked a claim in shaping the future...