Interim Report 1 January - 30 June 2013
SBAB Bank´s CEO, Carl-Viggo Östlund, comments:
SBAB’s operating profit for the second quarter of 2013 amounted to SEK 259 million, and for the half-year to SEK 584 million. Excluding net result from financial instruments, the operating profit was SEK 281 million and SEK 620 million. Compared with the first quarter, net interest decreased somewhat as a consequence of increasing competition in the housing market. The return on equity was 10 percent. Over the period, we have observed a stable trend in deposits and new lending. It has been an eventful quarter:
March saw the launch of SBAB’s three savings funds and in April we expanded our offering with SBAB Fri – a mutual fund that is free of charges. These savings funds are a clear indication that SBAB is continuing to challenge competitors and offer products based on customers’ needs.
In April SBAB issued an EUR 750 million unsecured bond as part of SBAB’s EMTN programme. The issue generated significant interest among investors, indicating strong market confidence in SBAB.
In mid-June SBAB decided to merge its two sales units for corporate customers and tenant-owner associations and create a strong and efficient unit for the financing of multi-family dwellings. SBAB is a leading operator in the multi-family dwelling market, and merging these two units enables both internal and external synergies that further strengthen our position. This move also provides clear support for our main business and our efforts toward our vision of creating a new era in banking.
Second quarter of 2013 compared with the first quarter of 2013
January-June 2013 compared with January-June 2012
For further information, please contact:
Carl-Viggo Östlund, CEO, SBAB Bank
Telephone: +46 8 614 43 01, Mobile: +46 727 17 43 01, email@example.com
Adrian Westman, Communications Manager SBAB
Telephone: +46 8 614 43 29, Mobile: +46 735 09 04 00, firstname.lastname@example.org