Lansforsakringar Bank AB (publ) Year-end report 2003

STOCKHOLM, Sweden, Feb. 20, 2004 (PRIMEZONE) --Lansforsakringar Bank AB 2003 in brief:

- Lending to the general public increased by 51% to SEK 30.0 billion (19.9). Deposits from the general public rose by 15% to SEK 17.0 billion (14.7).

- Mortgage loans by Lansforsakringar Hypotek rose by 106% to SEK 16.2 billion (7.8). Lansforsakringar captured 10% of the growth in the housing mortgage during 2003.

- Operating income amounted to SEK 103.8 M (32.7) before loan losses and SEK 64.9 M (19.5) after loan losses. Loan lasses remain at a low level. Probable and confirmed loan losses correspond to 0.13% (0.07) of total lending volume.

- Revenues rose by 27% to SEK 822.2 M (649.3).

- Administrative expenses increased by 15% to SEK 736.4 M (641.0).

- Net interest income rose by 30% to SEK 700.7 M (537.8).

- The target level for total capital adequacy was raised at the end of the year from 9.25% to 10.5% (+/- 0.5%). A target level for the Tier 1 ratio was set at 8.5% (+/- 0.5%). At yearend, capital adequacy was 13.00% (8.08) and the Tier 1 ratio was 9.95% (7.45).

- The bank received a capital contribution of SEK 1,600 M during the year.

- During the year, an MTN program was issued in addition to a syndicated term loan and revolving credit. . Lansforsakringar received 59,000 new bank customers during the year. The number of customers that have current account, cards, savings and loans with the bank increased by 63% during 2003.

- An increasing number of customers are discovering the benefits of having all their banking and insurance with Lansforsakringar. At year- end, 10% (8) of private home customers were also bank customers.

- Lansforsakringar's bank customers are among the most satisfied in Sweden, according to the 2003 Swedish Quality Index. The bank has the highest ratings of all banks for the best-value banking services and the most loyal bank customers.

For additional information, contact:


 Tomas Johansson                              +46 8-588 419 82
 CEO Lansforsakringar Bank                    +46 73-96 419 82
 tomas.johansson@lansforsakringar.se

 Christer Baldhagen, Senior Vice President     +46 8-588 415 01
 Corporate Communications Lansforsakringar AB  +46 70-579 70 66
 christer.baldhagen@lansforsakringar.se

Lansforsakringar Bank AB (publ) Year-end report 2003

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