Press Release March 17, 2020
SBAB's Board of Directors does not propose a dividend for 2019
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
E-mail: erik.wennergren@sbab.se
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.
Language: English
Company: SBAB Bank AB (publ).
Box 4209
171 04 Solna
Sweden
Phone: 08- 614 43 00
E-mail: erik.wennergren@sbab.se
Internet: www.sbab.se
ISIN: DK0030034343
EQS News ID: 999607
SBAB Bank AB (publ). / Other information disclosed according to the rules of
the Exchange
Dissemination of a Swedish Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
End of Announcement EQS News Service
999607 2020-03-17
(END) Dow Jones Newswires
March 17, 2020 12:50 ET (16:50 GMT)
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