SBAB Bank´s Acting CEO, Christine Ehnström, comments: SBAB Bank´s lending operations displayed stable development in 2011 and loan losses remained low. Deposits increased to SEK 8.8 billion at year-end. The company´s business operations and earnings developed positively in the fourth quarter.
Despite the turbulence in the financial markets, SBAB Bank was well funded during the year and maintained favourable liquidity. The company´s efforts to diversify its funding continued in 2011. To reduce the bank´s liquidity risk, we also took an even more proactive approach to the pre-funding of maturing funding. This strengthened SBAB Bank´s liquidity and decreased its financing risk.
Operating profit declined compared with 2010, mainly due to the bank´s pre-funding and development costs for a broader product offering.Summary of January — December 2011 compared with January — December 2010
All comparable figures in parentheses pertaining to income statement items and new lending refer to the preceding year, apart from quarter-specific figures for which the preceding quarter is the comparative period. For comparable figures pertaining to balance sheet items, capital adequacy and market share, the date of comparison is the preceding year-end.
For further information, please contact:
Christine Ehnström, Acting CEO, SBAB Bank
Telephone: +46 8 614 38 36, Mobile: +46 709 72 66 95, firstname.lastname@example.org
Christer Löfdahl, CFO, SBAB Bank
Telephone: +46 8 614 38 40, Mobile: +46 725 31 38 40, email@example.com
Bernd Schmitz, Chief Press Officer, SBAB Bank
Telephone: +46 8 614 43 94, Mobile: +46 727 44 43 94, firstname.lastname@example.org