SBAB Bank’s CEO, Carl-Viggo Östlund, comments:
During the quarter, SBAB reported a continued solid earnings trend. Operating profit, excluding net result of financial instruments, was once again higher than in the preceding quarter. However, market-value changes of financial instruments caused an adverse impact on the overall operating result. We foresee continued strong demand for mortgages, primarily in our lending to tenant-owner associations. Lower expenses compared with the preceding quarter confirm that our increased effort to take a proactive approach to cost control is generating results.