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- Highlights of Stadshypotek's Annual Report January-December 2024
Highlights of Stadshypotek's Annual Report January-December 2024
05 Feb 2025 11:00 CET
Issuer
Stadshypotek AB (publ)
JANUARY-DECEMBER 2024 COMPARED WITH JANUARY-DECEMBER 2023
During the second half of 2024, parts of Stadshypotek's Finnish international
branch were divested.
Stadshypotek's operating profit decreased by SEK 559m, or 6%, to SEK 8,739m
(9,298). Net interest income fell by SEK 222m to SEK 11,990m, (12,212), mainly
due to decreased margins arising from the fierce competition in the mortgage
loan market. In Sweden, net interest income decreased by SEK 499m, while in the
Norwegian branch net interest income increased by SEK 366m.
Of the net interest income, SEK 1,054m (688) was attributable to the branch in
Norway and SEK 396m (469) to the branch in Finland. Excluding the Finnish
branch, which is in the process of being divested, net interest income decreased
by SEK 133m to SEK 11,593m (11,726). Net gains/losses on financial transactions
decreased by SEK 222m to SEK 468m (690).
Expenses rose by SEK 224m to SEK -2,624m (-2,400). This was mainly attributable
to SEK -111m of capital losses relating to the partial divestment of the Finnish
operations, as well as to an increase in the compensation paid to the parent
company in relation to the sale and administration of mortgage loans.
Net credit losses totalled SEK 104m (-95). The credit loss ratio corresponded to
-0.01% (0.01) of lending.
LENDING
Compared to the close of the corresponding period during the previous year,
loans to the public increased by 0%, or SEK 2bn, and stood at SEK 1,583bn
(1,581). In Sweden, loans to the public increased by 1%, or SEK 12bn, to SEK
1,407bn (1,395).
FUNDING
Issues of Stadshypotek's bond programme in Swedish kronor totalled a nominal SEK
104.8bn (143.8) during the period. During the period, a nominal volume totalling
SEK 113.7bn (89.8) matured or was repurchased. The carrying amount of
outstanding Swedish kronor bonds was SEK 614.6bn (619.6) at the end of the
period.
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 8.2bn
(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 7.0bn (8.0). The out- standing volume at
the end of the period totalled NOK 29.0bn (27.0).
CAPITAL ADEQUACY
According to CRR 575/2013, the total capital ratio was 16.6% (18.5) while the
common equity tier 1 ratio was 11.6% (12.9). Further information on capital
adequacy is provided in note 19, Capital adequacy.
RATINGS
Stadshypotek's ratings remained unchanged during the entire period.
Stadshypotek Covered Long-term Short-term
bonds
Moody's Aaa - P-1
Standard & Poor's - AA- A-1+
Fitch - AA F1+
Stockholm February 5, 2025
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 5 February 2025.
For more information about Stadshypotek please go to www.handelsbanken.com
More information:
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Source
Stadshypotek AB (publ)
Provider
Oslo Børs Newspoint
Company Name
Stadshypotek AB 20/25 FRN COVD, Stadshypotek AB 21/26 COVD, Stadshypotek AB 23/28 FRN C COVD, Stadshypotek AB 24/29 FRN C COVD
ISIN
NO0010886054, NO0010936107, NO0013010363, NO0013331199
Market
Oslo Børs