Stadshypotek's Interim Report January - June 2024

17 Jul 2024 11:00 CEST

JANUARY - JUNE 2024 COMPARED WITH JANUARY - JUNE 2023

Stadshypotek's operating profit decreased by SEK 367m, or 8%, to SEK 4,383m
(4,750). Net interest income fell by SEK 504m to SEK 5,927m, (6,431), mainly due
to ongoing narrow margins on Swedish loans. In Sweden, net interest income
decreased by SEK 629m, while in the Norwegian branch net interest income
increased by SEK 140m.

Of the net interest income, SEK 507m (367) was attributable to the branch in
Norway and SEK 210m (219) to the branch in Finland. Net gains/losses on
financial transactions increased by SEK 223m to SEK 326m (103).

Expenses rose by SEK 80m to SEK -1,280m (-1,200). This increase was mainly
attributable to an increase in the compensation paid to the parent company for
services rendered on behalf of Stadshypotek in the Bank's branches, relating to
the sale and administration of mortgage loans.

Net credit losses totalled SEK +12m (-30), mainly due to decreased provisions
for Stage 1 and Stage 2. The credit loss ratio corresponded to 0.00% (0.00) of
lending.

LENDING

Compared to the close of the corresponding period during the previous year,
loans to the public increased by 1%, or SEK 11bn, and stood at SEK 1,591bn
(1,580). In Sweden, loans to the public increased by 0%, or SEK 5bn, to SEK
1,397bn (1,392).

FUNDING

Issues of Stadshypotek's bond programme in Swedish kronor totalled a nominal SEK
61.8bn (77.8) during the period. During the period, a nominal volume totalling
SEK 55.8bn (60.8) matured or was repurchased. The car­rying amount of
outstanding Swedish kronor bonds was SEK 626.9bn (556.6) at the end of the
period.

Issues of commercial paper in Swedish kronor during the period amounted to a
nominal SEK - bn (-), and the outstanding volume at the end of the period was
SEK - bn (-).

Issues of foreign currency bonds under the EMTCN programme totalled EUR 0.8bn
(1.0). The outstanding volumes at the end of the period were nominally EUR 9.0bn
(8.7) and GBP - bn (-).

The outstanding volume in the US programme totalled USD - bn (-) at the end of
the period. Issues in NOK totalled NOK - bn (-). The outstand­ing volume at the
end of the period totalled NOK 22.0bn (19.0).

CAPITAL ADEQUACY

The total capital ratio according to CRD IV was 16.9% (17.6) while the common
equity tier 1 ratio calculated according to CRD IV was 11.9% (12.3). Further
information on capital adequacy is provided in note 19, Capital adequacy in
Stadshypotek's Interim Report.

RATINGS

Stadshypotek's ratings remained unchanged during the entire period.

+------------+-------------+---------+----------+
|Stadshypotek|Covered bonds|Long-term|Short-term|
+------------+-------------+---------+----------+
|Moody's |Aaa |- |P-1 |
+------------+-------------+---------+----------+
|S&P |AA- |A-1+ |
+------------+-------------+---------+----------+
|Fitch |AA |F1+ |
+------------+-------------+---------+----------+

DISCONTINUED OPERATIONS

Stadshypotek's operations in Finland constitute discontinued operations in
accordance with IFRS 5, Non-current Assets Held for Sale and Discon­tinued
Operations.

Stockholm July 17 2024

Cecilia Hasselbo
Chief Executive Stadshypotek AB

This information is of the type that Stadshypotek is obliged to make public
pursuant to the Swedish Securities Markets Act. The information was submitted
for publication through the agency of the contact person set out above, at 11:00
a.m. CET on 17 July 2024.

For more information about Stadshypotek please go to Handelsbanken.com

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