At an Extraordinary Board Meeting held on March 17, 2020, the Board of Directors resolved to not propose a dividend for the financial year 2019.
In its Year-end Report 2019, published on February 14, 2020, SBAB Bank AB (publ) (SBAB) communicated that the Board of Directors proposes a dividend for 2019 of 40% of net profit, corresponding to SEK 715 million. This proposal has thus now been amended.
SBAB offers residential mortgages to private individuals, housing financing to real estate companies and tenant-owner associations, as well as construction loans to housing developers and construction companies. SBAB's market share for residential mortgages is about 8.5% and the market share for housing financing about 10%. Profit development has been good in recent years. The bank’s capitalisation and liquidity situation is strong.
The ongoing Corona crisis has so far had a negative impact on the economic development in society. SBAB intends to continue to take responsibility for a well-functioning housing credit market in Sweden. To achieve this and to ensure continued credit growth to its customers, SBAB is strengthening its own funds by retaining the entirety of the 2019 earnings.
For further information, please contact:
Erik Wennergren, Head of Press, SBAB
Telephone: +46724 51 79 37
This is information that SBAB Bank AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 17.45 CET on March 17, 2020.