Landshypotek Bank improves earnings for the first quarter of the year as a result of continued lending growth and stable net interest income. In these uncertain times, this creates security and the scope for the continued strategic development of the bank.
"Despite a sluggish market, we have continued to grow and improve our earnings. Our business is robust, with strong credit quality, good cost control and close relationships with our customers. This creates security and scope, even in more uncertain times, to continue developing the business and to maintain close customer relationships. Activities and investments in line with our new strategy have already been initiated to further develop and create even greater customer value as a specialist bank in lending and savings," says Johan Ericson, CEO of Landshypotek Bank.
Operating profit totalled SEK 129 million for the first quarter, which was an improvement both quarter-on-quarter (SEK 102 million) and year-on-year (SEK 124 million). This improvement was primarily driven by last year's lending growth and a stronger net result of financial transactions. The continued good credit quality of the lending portfolio also contributed to this positive performance. Net interest income remained stable and the cost increases were planned and linked to the bank's strategic and forward-looking investments.
Global uncertainty is prompting customers to adopt a natural caution, which is impacting lending both for mortgages and for agricultural loans.
When planning, farmers face the challenges posed by uncertain energy prices, trade flows and primary production profitability. However, in parallel, society's understanding of agriculture's importance continues to grow. While some temporary caution prevails due to uncertainty, overall there is a continued need for, and interest in, investments in agriculture.
The mortgage market is also cautious. Credit growth remains low, and price competition is intensifying in a market with low growth, which applies further pressure on margins.
In addition, interest rates rose during the quarter, both for shorter and for longer fixed-interest periods.
Most recently, the media has drawn attention to deposit rates failing to rise as quickly as lending interest rates. Landshypotek Bank has taken a different approach and has also raised its rates for savers.
"We have deliberately chosen to go against the trend, which sets us apart from most of our competitors who have left their savings rates unchanged. More attention should also be paid to the fact that many of these same competitors offer low or no interest on easy access savings accounts. Just as consumers are encouraged to actively compare mortgage interest rates, they should also be encouraged to make informed choices about their savings," says Johan Ericson.
During the quarter, Landshypotek Bank continued to develop its customer offering. Going forward, the bank will continue working with the new strategy that focuses on increasing customer value and strengthening its position as a specialist bank in lending and savings. Separate initiatives are ongoing to further develop our savings offering.
"In other words, this strategy means we will continue investing in the bank, despite these uncertain times. General recognition is growing of agriculture's importance for societal development. We are convinced of the clear need in the Swedish banking market for a strong, customer-centric challenger that cares about customers and society," says Johan Ericson.
The full report is attached.
Summary of the interim report:
January-March 2026 (compared with January-March 2025)
• Operating profit amounted to SEK 129 million (124).
• Net interest income amounted to SEK 293 million (288).
• Costs totalled SEK 169 million (154).
• Net credit losses impacted earnings with SEK 3 million (loss: 7).
• Loans to the public amounted to SEK 118.8 billion (113.7).
• Deposits from the public amounted to SEK 25.2 billion (26.6).
January-March 2026 (compared with October-December 2025)
• Operating profit amounted to SEK 129 million (102).
• Net interest income amounted to SEK 293 million (291).
• Costs totalled SEK 169 million (169).
• Net credit losses impacted earnings with SEK 3 million (loss: 4).
• Loans to the public amounted to SEK 118.8 billion (118.2).
• Deposits from the public amounted to SEK 25.2 billion (25.9).
Landshypotek Bank AB is required to disclose this information pursuant to the Securities Market Act (2007:528). This information was submitted for publication on 6 May 2026 at 8.00 a.m. CEST.
For more information, please contact:
Jonas Feinberg, Press Officer, +46 70 349 24 10
About Landshypotek
Landshypotek has grown robustly in recent years as a customer-centric challenger in the banking market for mortgages and savings. Customers appreciate the bank's simple and open nature, with transparent terms and conditions for mortgages and savings, in addition to its expertise in customer service and the circular business model of farming and forestry. The bank's clear values mean that more and more customers view it as a strong option in the banking market. Landshypotek was founded by customers in 1836. The bank offers services in savings and loans, is owned by the farming and forestry customers, and operates throughout Sweden.
