Interim report
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President’s comment Länsförsäkringar Bank continued to deliver a positive performance in the first half of the year. Despite low credit growth in Sweden, we are now seeing signs of increased activity in the mortgage market with growth picking up faster than last year. We are continuing to strengthen our position and capture market share in the mortgage market despite intense competition. The second quarter saw the equity markets perform strongly, which led to healthy growth in our fund volume, while we are continuing to see high net inflows into our funds. In savings, the process of integrating SAVR is continuing, something that is strategically important for our position in the savings market. It is gratifying that alongside the integration process we could continue to roll out new features on the SAVR platform, which will enhance the user experi- ence for our customers going forward. Net interest income stabilised and is now showing an increase both on the last quarter and the second quarter of 2025. Meanwhile, net commission income performed well, largely due to high growth in funds. Expenses increased year-on-year, however, which was mainly a result of the acquisition of SAVR and the take- over of LF’s telephone banking. These are new businesses that were not included in last year’s figures. Our credit portfolio remains charac- terised by low risk, and credit losses were very low again this quarter and generally positive for the first half of the year, due to a non-recurring effect in LF Finans in the first quarter. We are focusing intensely on expenses and efficiency in order to ensure our long-term com- petitiveness and provide an attractive customer offering. We are continuing to invest in devel- opment, with the digitalisation of our mortgage process representing a key milestone. Adapting to the new payment infrastructure and integrat- ing SAVR are two of our most important initia- tives for the future. We are pleased to once again report stable earnings for the bank, with healthy growth and increased market share. This is the result of a strong local customer focus and dedicated efforts throughout the bank. Together, we will continue to create security and opportunities for Länsförsäkringar’s customers. Sara Davidgård President of Länsförsäkringar Bank INTERIM REPORT JANUARY–JUNE 2026 Länsförsäkringar Bank Interim Report January–June 2026 • Operating profit increased 2% to SEK 1,198 M (1,171). • Return on equity was 8.1% (8.1). • Net interest income declined 2% to SEK 2,883 M (2,955). • Net commission income, excluding remuneration to the regional insurance companies, increased 17% to SEK 1,030 M (883). • Operating income increased 5% to SEK 3,181 M (3,042). • Operating expenses increased 15% to SEK 1,818 M (1,575), largely due to additional operations in the form of the incor- poration of telephone banking and the acquisition of SAVR. • Net credit losses were positive, mainly as a result of sales of credit-impaired loan receivables in LF Finans in the first quarter, and amounted to SEK –48 M (86), corresponding to a credit loss level of –0.02% (0.04). • Operating profit was impacted by fees levied of SEK 213 M (210) during the period, of which risk tax comprised SEK 96 M (137). • Business volumes income increased 11% to SEK 1,149 billion (1,031). • Lending increased 5% to SEK 434 billion (415).1) • Deposits increased 1% to SEK 167 billion (164). • Fund volumes increased 21% to SEK 548 billion (452). • The Common Equity Tier 1 capital ratio for the Consolidated Situation amounted to 14.1% (14.72) on 30 June 2026. Figures in parentheses pertain to the same period in 2025. 1) Loans to the public excluding deposits with the Swedish National Debt Office and similar items. 2) Pertains to 31 March 2026. 22 July 2026 We are pleased to once again report stable earnings for the bank, with healthy growth and increased market share. This is the result of a strong local cus- tomer focus and dedi- cated efforts through- out the bank. Sara Davidgård President of Länsförsäkringar Bank Customer trend Primary bank customers, 000s 500 550 600 650 700 June 2026 June 2025 June 2024 June 2023 June 2022 Operating profit and return on equity SEK M % 0 250 500 750 1,000 1,250 1,500 Jan–Jun 2026 Jan–Jun 2025 Jan–Jun 2024 Jan–Jun 2023 Jan–Jun 2022 2 4 6 8 10 12 14 Operating profit, SEK M Return on equity, % 1LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Key figures Group, % Q2 2026 Q1 2026 Q2 2025 Jan–Jun 2026 Jan–Jun 2025 Full-year 2025 Return on equity, % 6.9 9.3 7.5 8.1 8.1 7.2 Return on total assets, % 0.29 0.41 0.33 0.35 0.36 0.33 Investment margin, % 1.09 1.08 1.14 1.09 1.16 1.13 Cost/income ratio before credit losses and fees levied 0.58 0.57 0.54 0.57 0.52 0.56 Common Equity Tier 1 capital ratio, consolidated situation, % 14.1 14.7 15.0 14.1 15.0 14.6 Tier 1 ratio, consolidated situation, % 16.0 16.7 16.9 16.0 16.9 16.7 Total capital ratio, consolidated situation, % 17.8 18.6 19.1 17.8 19.1 19.6 Share of credit-impaired loan receivables gross (stage 3), % 0.20 0.20 0.25 0.20 0.25 0.23 Reserve ratio for loan receivables stage 1, % 0.01 0.01 0.02 0.01 0.02 0.02 Reserve ratio for loan receivables stage 2, % 1.58 1.61 1.75 1.58 1.75 1.57 Reserve ratio for loan receivables stage 3, % 28.3 26.9 28.9 28.3 28.9 28.1 Reserve ratio for loan receivables stage 3, incl. withheld remuneration to regional insurance companies, % 35.3 34.9 36.5 35.3 36.5 35.9 Credit loss level, % 0.04 –0.09 0.06 –0.02 0.04 0.03 Income statement, quarterly Group, SEK M Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Net interest income 1,466.2 1,416.4 1,433.4 1,421.5 1,451.1 Net commission income 139.9 93.7 82.0 44.0 46.6 Net gains/losses from financial items –7.6 –0.1 39.6 –30.6 11.8 Other operating income 39.0 33.8 39.6 33.1 32.5 Total operating income 1,637.5 1,543.8 1,595.4 1,468.0 1,542.1 Staff costs –352.6 –316.2 –303.3 –264.5 –322.7 Other expenses –592.8 –556.7 –750.8 –520.3 –516.3 Total operating expenses –945.4 –872.9 –1,054.1 –784.8 –839.0 Profit before credit losses and fees levied 692.1 671.0 541.3 683.2 703.1 Credit losses, net –51.3 99.6 –28.0 –29.1 –53.4 Share of profit/loss of participating interests 0.1 0.1 0.3 0.3 0.4 Risk tax levied and resolution fee –126.2 –87.0 –125.6 –105.8 –105.7 Operating profit 514.7 683.7 388.0 548.6 544.4 2LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Market commentary The second quarter was dominated by persistent geopolitical uncertainty, with the war in the Middle East, which had already driven up oil prices in the first quarter, leading to a continued focus was sustained on energy prices, inflation and interest rates. In the second half of the quarter, rising hopes of Iran and the US reaching a resolution contributed to a decline in oil prices, and attention returned to more traditional economic issues. Despite this continuing uncertainty, the financial mar- kets remained resilient. In the US, the economic climate appears to have stabilised, and the economy is performing relatively well. The resilience of the labour market continued, while household demand remained subdued. However, companies are continuing to see relatively healthy demand, which resulted in a boost to eco- nomic activity, while extensive AI initiatives are keeping the pace of investment high. Inflation in the US continued to creep up and headline CPI for May was at 4.2% and underlying inflation at 2.9%. In light of this, the Fed, under its new Chair Kevin Warsh, adopted a decidedly more hawkish tone. As a result, the main scenario no longer seems to be interest-rate cuts, instead market pric- ing now suggests that rate hikes are more probable later this year. Growth in the eurozone was weaker. Growth forecasts were revised downward in the spring, particularly as a result of higher energy prices associated with the war in Iran, while inflation rose. Although underlying inflation was only a few tenths above target, the rise in total inflation led the ECD to raise its deposit facility rate 25 basis points to 2.25% in June. Overall, the eurozone saw low growth, surging inflationary pressure and a more restrictive monetary policy. Sweden’s starting point was comparatively more favourable than the eurozone, and at the beginning of the year the Riks- bank signalled that it would keep its policy rate unchanged for some time. However, the war in Iran initially caused the mar- ket, including Sweden, to start pricing in interest rate hikes. Unlike in the US and the eurozone, underlying inflation in Sweden has remained low. This was partly due to tax cuts and partly due to sustained low domestic inflation driven by a soft labour market. CPIF ex energy was only 0.5%. The Swedish economy thus entered the remainder of the year with low inflation and a better outlook than many other European econ- omies. Stock markets posted a strong performance for most of the second quarter, particularly in the US which saw an upswing largely driven by AI-related companies. However, towards the end of the quarter, the stock markets fell slightly, largely due to growing concerns about high valuations in the AI sector. In the first half of the year, the S&P 500 rose 10.2%, the MSCI ACWI Index 12.4% and the Stockholm Stock Exchange 8.1%. Rates for Swedish government bonds fell slightly during the second quarter, yet the trend was volatile. The risk premium for mortgage bonds declined and five-year mortgage bonds ended the second quarter at about 45 basis points above the corresponding government bonds, compared with 70 basis points at the end of the first quarter. House prices as mea- sured by the HOX Price Index rose 5.5% in the January–May period, but excluding seasonal effects the increase was 1.7%. 3LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Group January–June 2026 compared with January–June 2025, Group Business volumes Business volumes increased 11% to SEK 1,149 billion (1,031), driven by higher mortgage, fund and deposit volumes. Total lending, excluding deposits with the Swedish National Debt Office and similar items, increased 5% or SEK 19 billion to SEK 434 billion (415) with continued high credit quality. Lending in Länsförsäkringar Hypotek increased 6%, or SEK 20 billion, to SEK 367 billion (347). Lending in LF Finans rose 1% to SEK 26.1 billion (25.8). Deposits rose 1%, or SEK 2 billion, to SEK 167 billion (164). Fund volumes increased 21% or SEK 96 billion to SEK 548 billion (452), mainly due to a favourable trend in market values. Customers The number of customers with Länsförsäkringar as their pri- mary bank rose 3% to approximately 695,000 (674,000). Some 90% of those customers who have the bank as their primary bank are also existing Länsförsäkringar insurance cus- tomers. The number of bank cards issued by Länsförsäkringar Bank rose 3% to approximately 896,000 (870,000). Earnings and profitability Operating profit rose 2% to SEK 1,198 M (1,171), due to stronger net commission income and the sale of credit-im- paired loan receivables in LF Finans in the first quarter. Profit before credit losses and fees levied declined 7% to SEK 1,363 M (1,467). The investment margin amounted to 1.09% (1.16). Return on equity was 8.1% (8.1). Income Net interest income declined 2% to SEK 2,883 M (2,955) due to a lower investment margin driven by lower market interest rates. Net interest income increased 4% in the second quarter compared with the first quarter, and the investment margin rose slightly. The recognised net commission income including remuneration to the regional insurance companies amounted to SEK 234 M (25). Underlying net commission income, excluding remuneration to the regional insurance companies, increased 17% to SEK 1,030 M (883), due to, for example, higher fund volumes and higher net commission income from the card business. Net gains from financial items amounted to SEK –8 M (2). Other operating income rose to SEK 73 M (60) for reasons including higher volumes of operating leases in LF Finans. Total operating income increased 5% to SEK 3,181 M (3,042), driven by improved net commission income. Expenses Operating expenses increased 15% to SEK 1,818 M (1,575). The increase in expenses was largely driven by additional operations: the incorporation of telephone banking with Läns- försäkringar Bank and the acquisition of SAVR, which jointly increased the number of employees in the Bank Group by about 200. The underlying increase in expenses continued to be impacted by a high rate of IT development. Furthermore, underlying depreciation increased during the year for reasons including higher volumes of operating leases in LF Finans. The cost/income ratio before credit losses and fees levied amounted to 0.57 (0.52). The cost/income ratio after credit losses and fees levied amounted to 0.62 (0.62). Business volumes SEK bn 0 200 400 600 800 1,000 1,200 June 2026 June 2025 June 2024 June 2023 June 2022 Household mortgages Other loans, bank and LF Finans Customer deposits Funds Net interest income SEK M 0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 Jan–Jun 2026 Jan–Jun 2025 Jan–Jun 2024 Jan–Jun 2023 Jan–Jun 2022 Card trend Cards issued by Länsförsäkringar Bank, 000s 0 250 500 750 1,000 June 2026 June 2025 June 2024 June 2023 June 2022 Cost/income ratio before credit losses and fees levied 0,0 0,1 0,2 0,3 0,4 0,5 0,6 Jan–Jun 2026 Jan–Jun 2025 Jan–Jun* 2024 Jan–Jun 2023 Jan–Jun 2022 * The cost/income ratio excluding the reduction in costs for VAT recovered in LF Finans was 0.51 in the first half of 2024. 4LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Credit losses The credit quality of the loan portfolio remained very high and credit losses in the Bank Group are low. Customers continued to demonstrate high resilience and the share of customers making late payments remained very low. In the first quarter, LF Finans sold a volume of credit-im- paired loan receivables, which had a positive impact of SEK 78 M on credit losses, and contributed to overall positive credit losses of SEK –48 M (86) for the January–June 2026 period. This corresponded to a credit loss level of –0.02% (0.04). The customary quarterly update of macroeconomic scenar- ios for the calculation of expected credit losses resulted in a very minor impact on the loss allowance. In total, loss allow- ances increased SEK 9 M in the second quarter. Credit-impaired loan receivables (stage 3) before provisions amounted to SEK 887 M (1,093), corresponding to a share of credit-impaired loan receivables of 0.20% (0.25) gross. The loss allowance for credit-impaired loan receivables was SEK 251 M (316). The reserve ratio for credit-impaired loan receivables amounted to 28.3%. In addition, SEK 63 M of the remuneration to the regional insurance companies regarding credit-impaired loan receivables* is withheld. Including the withheld remuneration to the regional insurance compa- nies, the loss allowance for credit-impaired loan receivables totalled SEK 314 M (399). The reserve ratio for credit-impaired loan receivables, including withheld remuneration to the regional insurance companies, amounted to 35.3%. Loan receivables (stage 2) before provisions amounted to SEK 7,459 M (8,057). The share of loan receivables (stage 2) remained at a low level. The loss allowance for loan receivables (stage 2) was SEK 118 M (141) excluding and SEK 148 M (177) including withheld remuneration to the regional insurance companies. The total recognised loss allowance was SEK 525 M (669), of which SEK 107 M (141) pertained to withheld remuneration to the regional insurance companies*. Loss allowance, stage 3 SEK M 30 Jun 2026 30 Jun 2025 Loans to the public 438,582 428,446 Credit-impaired loan receivables (stage 3) 887 1,093 Total loss allowance for credit-impaired loan receivables (stage 3), incl. withheld remuneration to regional insurance companies 314 399 of which loss allowance for credit- impaired loan receivables (stage 3) 251 316 of which withheld remuneration to regional insurance companies for cred- it-impaired loan receivables (stage 3) 63 83 For further information on credit losses and credit-impaired loan receivables, refer to notes 1, 6, 7 and 8. * In accordance with the settlement model for the regional insurance compa- nies’ credit-risk commitments for generated business. Deposits and savings Compared with one year ago, deposits from the public increased 1%, or SEK 2 billion, to SEK 167 billion (164). Deposits from corporates amounted to SEK 15.3 billion (14.2). The total number of deposit accounts increased 4%. The market share of household deposits was 5.0% (5.0) on 31 May 2026 compared with one year ago, according to Statistics Sweden. 82% of deposits from the public comprise deposits that are covered by the government deposit insurance, and the maximum guarantee amount was also raised from the start of the year. Year-on-year, the total fund volumes increased 21% or SEK 96 billion to SEK 548 billion (452), mainly due to favourable trends for market values. The fund volume under Länsförsäkringar’s own brand rose 20%, or SEK 82 billion, to SEK 490 billion (408). Net inflows to the company’s own brand asset management amounted to SEK 1.5 billion (–7.5) for the period, and to SEK 5.5 billion (–5.1) in the second quarter of 2026. Net flows during the period, and during last year, were negatively impacted by the Swedish Fund Selection Agency’s tenders, in which some of LF’s funds were not selected. Lending All loans are granted in Sweden, in SEK and have a well-diver- sified geographic distribution. During the year, market growth in mortgages has remained subdued, while Länsförsäkringar has noted healthy growth and captured market share with continued high credit quality. Loans to the public, excluding deposits with the Swedish National Debt Office and similar items of SEK 5 billion (14), improved 5% or SEK 19 billion to SEK 434 billion (415). Lending in Länsförsäkringar Hypotek increased 6%, or SEK 20 billion, to SEK 367 billion (347). The percentage of house- hold mortgages in relation to the total loan portfolio was 84%, including residential agriculture mortgages of 4 percentage points. On 31 May 2026, the market share of household mort- gages increased to 8.0% (7.8) according to Statistics Sweden. The weighted average loan-to-value ratio (LTV) of the mort- gage portfolio amounted to 63% (63). Agricultural lending declined 1% to SEK 33.7 billion (34.1). Agricultural lending primarily comprises first-lien mortgages to family-owned agricultural operations, and the average loan commitment was low at SEK 2.6 M (2.5). First-lien mortgages for agricultural properties fell to SEK 33.0 billion (33.3), corre- sponding to 98% (98) of agricultural lending. Lending in LF Finans rose 1% to SEK 26.1 billion (25.8). Loan portfolio, distribution in %* Lending segment, % 30 Jun 2026 30 Jun 2025 Household mortgages 80.4 79.9 Residential agriculture mortgages 3.4 3.7 Agriculture 4.4 4.5 Multi-family housing 3.9 3.8 Leasing and hire purchase 4.2 4.2 Unsecured loans 2.4 2.5 Other* 1.3 1.4 TOTAL 100.0 100.0 * Excluding deposits with the Swedish National Debt Office and similar items Volume of household mortgages in Bank Group by loan-to-value ratio** Capital receivable Total Loan-to-value ratio Volume, SEK M % 0–50% 275,100 78.8 51–60% 33,041 9.5 61–70% 23,346 6.7 71–75% 7,923 2.3 76–80% 5,675 1.6 80%– 3,990 1.1 TOTAL 349,074 100.0 ** Refers to loans with single-family homes, tenant-owned apartments or vacation homes as collateral on 30 June 2026. Continuous LTV distribution in accordance with the recommendation of the Association of Swedish Cov- ered Bond issuers (ASCB). 5LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Funding The Bank Group has a low refinancing risk and the maturity profile is well diversified. The volume of debt securities in issue outstanding increased 6% or SEK 18 billion to a nominal SEK 326 billion (308), of which covered bonds amounted to SEK 268 billion (252), senior long-term funding to SEK 57 bil- lion (56) and short-term funding to SEK 0.5 billion (0.2). The average remaining term for long-term funding was 3.1 years (3.1) on 30 June 2026. Covered bonds were issued during the period at a volume of a nominal SEK 32.4 billion (33.1). Repurchases of covered bonds amounted to a nominal SEK 12.4 billion (11.4) and matured covered bonds to a nominal SEK 6.9 billion (7.2). Länsförsäkringar Bank issued senior unsecured bonds of a nominal SEK 8.9 billion (11.6) during the period, while matur- ities amounted to a nominal SEK 8.6 billion (7.5). The total volume of senior non-preferred bonds outstanding, which also qualify for inclusion in subordinated MREL, amounted to SEK 13.5 billion (13.0) on 30 June 2026. In the first quarter, Länsförsäkringar Bank launched its European Green Bond Factsheet under the EU green bond standard, a robust standard with a clear link to the EU Taxon- omy. The intention is to issue European green bonds under the new framework to finance green mortgage assets that are fully compliant with the EU Taxonomy. In the second quarter, at the end of April, Länsförsäkringar Bank issued its first European green senior preferred bond denominated in EUR, with a five- year term and at an amount of EUR 500 M. In the second quarter, Länsförsäkringar Hypotek issued a new seven-year covered benchmark bond in SEK (LFH526) at an initial nominal amount of SEK 5.5 billion, with a term until September 2033. Liquidity On 30 June 2026, the liquidity reserve totalled SEK 87 billion (87). About 20% of the liquidity reserve is invested in short- term deposits with the Riksbank and the Swedish National Debt Office, and the remainder is invested in securities with very high credit quality that are eligible for transactions with the Riksbank and, where appropriate, with the ECB. By utilis- ing the liquidity reserve, contractual undertakings can be met for about two years without needing to secure new funding in the capital market. The Liquidity Coverage Ratio (LCR) for the Consolidated Situation on 30 June 2026 amounted to 257% (311). The Net Stable Funding Ratio (NSFR) for the Consoli- dated Situation on 30 June 2026 was 129% (127). Rating Länsförsäkringar Bank’s credit rating is A+/Stable from Stan- dard & Poor’s and A1/Stable from Moody’s. Länsförsäkringar Hypotek’s covered bonds have the highest credit rating of Aaa from Moody’s and AAA/Stable from Standard & Poor’s. Capital adequacy, Consolidated Situation1 Länsförsäkringar Bank AB’s consolidated situation encom- passes Länsförsäkringar Bank AB and its subsidiaries, that is to say the Bank Group. Consolidated situation (SEK M) 30 Jun 2026 31 Mar 2026 IRB Approach 47,420 33,006 of which retail exposures 35,674 22,259 of which exposures to corporates 11,508 10,525 Standardised Approach 9,188 9,248 CVA 609 801 Operational risk 15,075 15,075 Additional requirements (risk weight floor, Article 458 CRR) 75,927 84,276 Total REA 148,218 142,407 Common Equity Tier 1 capital 20,841 20,890 Tier 1 capital 23,691 23,740 Total capital 26,382 26,431 Common Equity Tier 1 capital ratio 14.1% 14.7% Tier 1 ratio 16.0% 16.7% Total capital ratio 17.8% 18.6% Risk-based capital requirements: Own funds requirements (Pillar I) 11,857 11,393 Pillar II Requirements (P2R) 2,905 2,791 Combined buffer requirement 6,670 6,408 Pillar II Guidance (P2G) 0 0 Overall adequate level of own funds and P2G 21,432 20,592 Risk-based capital requirements as a percentage of REA: Own funds requirements (Pillar I) 8.0% 8.0% Pillar II Requirements (P2R) 2.0% 2.0% Combined buffer requirement 4.5% 4.5% Pillar II Guidance (P2G) 0.0% 0.0% Overall adequate level of own funds and P2G 14.5% 14.5% Maturity profile SEK bn 0 10 20 30 40 50 60 70 2033–2032203120302029202820272026 Covered bonds Senior preferred unsecured bonds Senior non-preferred unsecured bonds Commercial paper Liquidity reserve 30 June 2026. A. Swedish covered bonds 38.6% B. Deposits with Swedish National Debt Office and central bank 19.6% C. Swedish government bonds 19.0% D. AAA/Aaa-rated bonds issued/guaranteed by European governments/multinational development banks 8.3% E. Other Swedish AAA/Aaa- rated bonds 7.6% F. Other Nordic AAA-rated covered bonds 5.8% G. Other 1.1% A B C F G D E 6LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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On 30 June 2026, the Common Equity Tier 1 capital amounted to SEK 20,841 M (20,890). The total Risk Exposure Amount (REA) was SEK 148,218 M (142,407) in the consolidated situation. Total REA rose SEK 5,811 M in the quarter, mainly due to a temporary add-on for the expected effect of forthcoming LGD model implementa- tions, and to volume growth in mortgages and the annual cali- bration of internal PD models. The Common Equity Tier 1 capital ratio for Länsförsäkringar Bank’s consolidated situation declined to 14.1% (14.7). Total own funds amounted to SEK 26,382 M (26,431) on 30 June 2026. The total capital ratio was 17.8% (18.6). The Bank’s risk exposure amount exceeds the current capital floor for risk-weighted assets, and the credit quality of lending remained favourable. Capital requirements and buffers Risk-based capital requirements In the third quarter of 2025, the Swedish Financial Supervi- sory Authority (FSA) completed its Supervisory Review and Evaluation Process (SREP) regarding Pillar 2 Requirements (P2R) for Länsförsäkringar Bank in the Consolidated Situation, and decided on a P2R of 2.0%, which can be compared with the previous 2.1% and a Pillar II Guidance (P2G) of 0.0%. Together, this means a total own funds requirement and P2G of 14.5% on 30 June 2026 compared with the total capital ratio of 17.8% The countercyclical capital buffer amounted to SEK 2,964 M (2.0% of REA), while the capital conservation buffer amounted to SEK 3,705 M (2.5% of REA) on 30 June 2026. Leverage ratio requirement The FSA also decided on a P2G for the leverage ratio require- ment at group level of 0.15% in addition to the minimum requirement for the leverage ratio of 3.0%, which means that the total leverage ratio requirement and P2G amount to 3.15%. The leverage ratio for the Consolidated Situation was 4.2% (4.3) on 30 June 2026. For more information on capital adequacy, see note 12. 1) The comparative period pertains to 31 March 2026. Periodic information according to the FSA’s regulations regarding prudential requirements and capital buffers, (FFFS 2014:12) and regarding management of liquidity risks in credit institutions and investment firms (FFFS 2010:7) is provided in this sec- tion, the sections on funding and liquidity, and in note 12. Capital adequacy, Parent Company1) Parent Company (SEK M) 30 Jun 2026 31 Mar 2026 IRB Approach 8,904 6,670 of which retail exposures 5,176 3,267 of which exposures to corporates 3,729 3,403 Standardised Approach 15,751 15,868 CVA 584 770 Operational risk 8,727 8,727 Additional requirements (risk weight floor, Article 458 CRR) 3,345 4,590 Total REA 37,311 36,625 Common Equity Tier 1 capital 9,220 6,264 Tier 1 capital 12,070 9,114 Total capital 14,762 11,806 Common Equity Tier 1 capital ratio 24.7% 17.1% Tier 1 ratio 32.4% 24.9% Total capital ratio 39.6% 32.2% Risk-based capital requirements: Own funds requirements (Pillar I) 2,985 2,930 Pillar II Requirements (P2R) 1,093 1,073 Combined buffer requirement 1,679 1,648 Pillar II Guidance (P2G) 0 0 Overall adequate level of own funds and P2G 5,757 5,651 Risk-based capital requirements as a percentage of REA: Own funds requirements (Pillar I) 8.0% 8.0% Pillar II Requirements (P2R) 2.9% 2.9% Combined buffer requirement 4.5% 4.5% Pillar II Guidance (P2G) 0.0% 0.0% Overall adequate level of own funds and P2G 15.4% 15.4% On 30 June 2026, the Common Equity Tier 1 capital ratio for the Parent Company totalled 24.7% (17.1). The total Risk Exposure Amount (REA) was SEK 37,311 M (36,625) in Rating Company Agency Long-term rating Short-term rating Länsförsäkringar Bank Standard & Poor’s A+/Stable A–1(K–1) Länsförsäkringar Bank Moody’s A1/Stable P–1 Länsförsäkringar Hypotek1) Standard & Poor’s AAA/Stable – Länsförsäkringar Hypotek1) Moody’s Aaa – 1) Pertains to the company’s covered bonds. 7LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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the Parent Company. The credit quality of lending remained favourable. Capital requirements and buffers Risk-based capital requirements The FSA completed its SREP regarding P2R for Länsförsäk- ringar Bank AB in the third quarter of 2025, and decided on a P2R of 2.9% and a P2G of 0.0%. Together, this means a total own funds requirement and P2G of 15.4% on 30 June 2026 compared with the total capital ratio of 39.6% The countercyclical capital buffer amounted to SEK 746 M (2.0% of REA), while the capital conservation buffer amounted to SEK 933 M (2.5% of REA) on 30 June 2026. For more information on capital adequacy, see note 2 for the Parent Company. 1) The comparative period pertains to 31 March 2026. Periodic information according to the FSA’s regulations regarding prudential requirements and capital buffers, (FFFS 2014:12) and regarding management of liquidity risks in credit institutions and investment firms (FFFS 2010:7) is provided in this section, the sections on funding and liquidity, and in note 2 for the Parent Company. Interest-rate risk On 30 June 2026, an increase in market interest rates of 1 percentage point would have changed the value of inter- est-bearing assets and liabilities, including derivatives, by SEK –271 M (–329 on 31 March 2026). Risks and uncertainties The operations are characterised by a low risk profile. The Bank Group is exposed to a number of risks, primarily com- prising credit risks, refinancing risks, market risks and cyber risks as well as risks related to the bank’s work on anti-money laundering and measures to counter the financing of terror- ism. The macroeconomic situation in Sweden is critical for credit risk since all loans are granted in Sweden. Credit losses remain low and the refinancing of business activities was highly satisfactory during the period. However, it can be stated that the macroeconomic trend is unusually uncertain due to such factors as the ongoing trade and tariff war and uncertainty surrounding monetary policy, which could have further negative effects for households and companies. In addition, it cannot be ruled out that future declines in house prices could lead to nega- tive effects for households and for the value of collateral in the bank’s mortgage lending. The impact of market changes caused due to the international trade and tariff war is deemed to be direct mainly in the form of the risk of lower fund vol- umes resulting from changes in market values, and indirect given that a weaker economy could affect credit losses and could impact on volume growth, among other items. Furthermore, fraud has become an increasing problem in society, which presents risks related to this area. The cur- rently high geopolitical risks, which have further risen with developments in the Middle East, could also result in further macroeconomic consequences and increased cyber and other security risks. For more information about macroeconomic developments, refer to page 3. A more detailed description of risks is available in the 2025 Annual Report. Second quarter of 2026 compared with first quarter of 2026 Operating profit declined 25% to SEK 515 M (684) and the return on equity amounted to 6.9% (9.3). Operating income increased 6% to SEK 1,638 M (1,544), mainly driven by higher net interest income and net commis- sion income. Net interest income increased 4% to SEK 1,466 M (1,416) due to a slightly improved investment margin of 1.09% (1.08). Commission income amounted to SEK 714 M (687) and commission expense to SEK 574 M (594). Net com- mission income amounted to SEK 140 M (94). Net losses from financial items amounted to SEK –8 M (0). Operating expenses increased to SEK 945 M (873). The cost/income ratio before credit losses and fees levied amounted to 0.58 (0.57). Credit losses amounted to SEK 51 M (–100). This corresponded to a credit loss level of 0.04% (–0.09). Credit losses were positive in the first quarter as a result of the gain from the sale of credit-impaired loan receiv- ables in LF Finans. Business volumes increased 7%, or SEK 78 billion, to SEK 1,149 billion (1,071). Operating profit and return on equity SEK M % 0 250 500 750 Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 0 5 10 15 Operating profit, SEK M Return on equity, % Operating expenses and cost/income ratio SEK M 0 100 200 300 400 500 600 700 800 900 1,000 1,100 Q2 2026 Q1 2026 Q4 2025* Q3 2025 Q2 2025 0.0 0.1 0.2 0.3 0.4 0.5 0.6 0.7 0.8 0.9 1.0 1.1 Operating expenses, SEK M Cost/income ratio before credit losses and fees levied * Including an impairment of intangible assets of SEK 89 M. The cost/income ratio excluding this impairment was 0.60 in the fourth quarter of 2025. 8LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Parent Company January–June 2026 compared with January–June 2025 Loans to the public, including deposits with the Swedish National Debt Office and similar items of SEK 5 billion (14), declined to SEK 46 billion (56). Deposits from the public amounted to SEK 167 billion (167). Debt securities in issue increased 3% to a nominal SEK 58 billion (56). Operating profit amounted to SEK 3,266 M (–114). The increase was primarily attributable to dividends of SEK 3,237 M received from subsidiaries. Net interest income increased to SEK 1,387 M (1,298). Commission income increased to SEK 830 M (643). Commission expense increased to SEK 971 M (950). Total operating income increased to SEK 4,665 M (1,075). Operating expenses increased to SEK 1,330 M (1,110). Credit losses amounted to SEK –1 M (3), net, corresponding to a credit loss level of 0.00% (0.00). The Parent Company’s risks and uncertainties are the same as those for the Bank Group as described on page 8. SEK M 30 Jun 2026 30 Jun 2025 Total assets 274,419 252,771 Lending volume 46,098 55,674 Net interest income 1,387 1,298 Credit losses –1 3 Operating profit/loss 3,266 –114 Subsidiaries January–June 2026 compared with January–June 2025 Länsförsäkringar Hypotek Lending in Länsförsäkringar Hypotek increased 6%, or SEK 20 billion, to SEK 367 billion (347). Operating profit fell 17% to SEK 789 M (954), mainly driven by lower net interest income. Net interest income declined 13% to SEK 1,069 M (1,223) due to a lower investment margin. Net commission income amounted to SEK –36 M (–56) as a result of lower remuneration to the regional insurance companies, driven by lower net interest income. Operating expenses amounted to SEK 78 M (77). Credit losses amounted to SEK –2 M (3), net, corresponding to a credit loss level of 0.00% (0.00). The total num- ber of customers was about 329,000 (322,000). SEK M 30 Jun 2026 30 Jun 2025 Total assets 399,538 370,128 Lending volume 366,907 347,483 Net interest income 1,069 1,223 Credit losses –2 3 Operating profit 789 954 Länsförsäkringar Finans LF Finans’s lending volumes increased 1% to SEK 26.1 billion (25.8). Operating profit amounted to SEK 227 M (116). The change was mainly due to the gain of SEK 78 M from the sale of credit-im- paired loan receivables. Net interest income amounted to SEK 406 M (412). Operating expenses increased to SEK 355 M (342). Net credit losses were positive as a result of the gain from the sale of credit-impaired loan receivables and amounted to SEK –45 M (81). The reserve ratio for cred- it-impaired loan receivables amounted to 63.3%, while the total reserve ratio was 1.5%. SEK M 30 Jun 2026 30 Jun 2025 Total assets 26,850 26,650 Lending volume 26,063 25,801 Net interest income 406 412 Credit losses –45 81 Operating profit 227 116 Länsförsäkringar Fondförvaltning The fund volume under Länsförsäkring- ar’s own brand rose 20%, or SEK 82 billion, to SEK 490 billion (408), due to a healthy trend in market values. Net inflows amounted to SEK 1.5 billion (–7.5) for the period, and to SEK 5.5 billion (–5.1) in the second quarter of 2026. Net flows during the period, and last year, were negatively impacted by the Swedish Fund Selection Agency’s tenders, in which some of LF’s funds were not selected. Operating profit increased 6% to SEK 225 M (212). Total income rose 5% to SEK 366 M (349). Länsförsäkringar Fondförvaltning’s offering includes 39 mutual funds under Länsförsäkringar’s own brand with various investment orientations and a fund market with external funds. All of the funds were “Article 8 funds” that promote sustainability, and in two cases funds that are “Article 9 funds”, meaning they have sustainable investment as their objective. SEK M 30 Jun 2026 30 Jun 2025 Total assets 1,264 2,477 Fund volumes 490,244 408,188 Net inflow 1,525 –7,543 Total income 366 349 Operating profit 225 212 9LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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SEK M Note Q 2 2026 Q 1 2026 Change Q 2 2025 Change Jan–Jun 2026 Jan–Jun 2025 Change Full-Year 2025 Interest income 3,871.3 3,622.4 7% 4,063.9 –5% 7,493.7 8,299.4 –10% 15,955.8 Interest expense –2,405.1 –2,206.0 9% –2,612.8 –8% –4,611.1 –5,344.1 –14% –10,145.6 Net interest income 3 1,466.2 1,416.4 4% 1,451.1 1% 2,882.6 2,955.3 –2% 5,810.2 Dividends received 0.1 – 0.1 0% 0.1 0.1 0% 1.0 Commission income 713.8 687.4 4% 603.5 18% 1,401.2 1,221.0 15% 2,527.3 Commission expense –573.9 –593.7 –3% –556.9 3% –1,167.6 –1,196.4 –2% –2,376.8 Net commission income 4 139.9 93.7 49% 46.6 233.6 24.6 150.6 Net gains/losses from financial items 5 –7.6 –0.1 11.8 –7.7 2.5 11.4 Other operating income 39.0 33.8 15% 32.5 20% 72.8 59.6 22% 132.3 Total operating income 1,637.5 1,543.8 6% 1,542.1 6% 3,181.4 3,042.0 5% 6,105.5 Staff costs –352.6 –316.2 12% –322.7 9% –668.9 –593.3 13% –1,161.0 Other administration expenses –504.6 –469.2 8% –434.7 16% –973.8 –825.6 18% –1,826.6 Total administration expenses –857.2 –785.4 9% –757.4 13% –1,642.6 –1,418.9 16% –2,987.7 Depreciation/amortisation and impairment of property and equipment/intangible assets –88.2 –87.5 1% –81.6 8% –175.7 –156.2 12% –426.4 Total operating expenses –945.4 –872.9 8% –839.0 13% –1,818.3 –1,575.1 15% –3,414.1 Profit before credit losses and fees levied 692.1 671.0 3% 703.1 –2% 1,363.1 1,466.9 –7% 2,691.4 Credit losses, net 6 –51.3 99.6 –53.4 –4% 48.3 –86.3 –143.4 Share of profit/loss of participat- ing interests 0.1 0.1 0% 0.4 –75% 0.2 0.6 –67% 1.3 Fees levied –126.2 –87.0 45% –105.7 19% –213.1 –210.5 1% –441.8 Operating profit 514.7 683.7 –25% 544.4 –5% 1,198.4 1,170.8 2% 2,107.4 Tax –117.9 –151.4 –22% –121.3 –3% –269.3 –258.9 4% –384.6 Profit for the period 396.9 532.3 –25% 423.1 –6% 929.2 912.0 2% 1,722.8 SEK M Q 2 2026 Q 1 2026 Change Q 2 2025 Change Jan–Jun 2026 Jan–Jun 2025 Change Full-Year 2025 Profit for the period 396.9 532.3 –25% 423.1 –6% 929.2 912.0 2% 1,722.8 Other comprehensive income Items that have been transferred or can be transferred to profit for the period Cash-flow hedges –13.2 –1.3 7.3 –14.6 21.0 76.3 Change in fair value of debt instru- ments measured at FVOCI 51.1 –0.6 –3.4 50.5 57.5 –12% 108.2 Tax attributable to items that are trans- ferred or can be transferred as income for the period –7.8 0.4 –0.8 –7.4 –16.1 –54% –38.0 Total 30.1 –1.6 3.1 28.5 62.3 –54% 146.5 Items that cannot be transferred to profit for the period Change in fair value of equity instruments measured at FVOCI 2.0 13.6 –85% –0.3 15.6 –3.3 –4.5 Tax attributable to items that cannot be reversed to profit or loss –0.4 0.3 0.2 –0.1 0.6 0.7 Total 1.7 13.8 –88% –0.1 15.5 –2.7 –3.8 Total other comprehensive income for the period, net after tax 31.8 12.3 3.0 44.0 59.7 –26% 142.8 Comprehensive income for the period 428.6 544.5 –21% 426.2 1% 973.2 971.6 1,865.6 Income statement – Group Statement of comprehensive income in summary – Group 10LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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11LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026 SEK M Note 30 Jun 2026 31 Dec 2025 30 Jun 2025 Assets Cash and balances with central banks 12,092.5 9,929.5 107.8 Treasury bills and other eligible bills 22,529.0 13,941.1 22,596.1 Loans to credit institutions 8 4,957.7 2,943.8 4,638.6 Loans to the public 7 438,582.5 428,557.9 428,446.4 Bonds and other interest-bearing securities 57,243.1 53,965.1 53,795.7 Shares and participations 214.9 193.2 195.1 Shares and participations in joint ventures 7.2 7.1 6.4 Derivatives 9 3,947.1 1,923.0 5,592.0 Fair value changes of interest-rate-risk hedged items in the portfolio hedge 74.8 67.7 288.9 Intangible assets 1,711.9 1,723.2 1,498.1 Property and equipment 538.8 575.3 566.8 Deferred tax assets 133.3 118.3 52.7 Other assets 832.6 711.0 665.8 Prepaid expenses and accrued income 747.7 625.5 752.3 Total assets 543,613.0 515,281.5 519,202.8 Liabilities and equity Due to credit institutions 8,190.4 1,597.2 5,801.6 Deposits and funding from the public 169,730.9 163,035.3 164,475.6 Debt securities in issue 325,246.9 310,800.6 308,236.6 Derivatives 9 1,925.0 2,416.4 1,944.2 Fair value changes of interest-rate-risk hedged items in the portfolio hedge 301.7 –636.8 1,101.5 Deferred tax liabilities 721.6 723.5 682.1 Other liabilities 1,020.8 2,093.4 1,134.5 Accrued expenses and deferred income 7,436.3 5,041.4 7,094.7 Provisions 31.5 33.6 39.0 Subordinated liabilities 2,695.1 4,194.0 3,096.3 Total liabilities 517,300.1 489,298.6 493,606.2 Equity Share capital 2,864.6 2,864.6 2,864.6 Other capital contributed 8,242.5 8,242.5 8,242.5 Reserves –17.5 –61.6 –144.7 Additional Tier 1 instruments 2,850.0 2,850.0 2,550.0 Retained earnings 12,373.4 12,087.3 12,084.2 Total equity 26,313.0 25,982.9 25,596.7 Total liabilities and equity 543,613.0 515,281.5 519,202.8 Notes Accounting policies 1 Segment reporting 2 Pledged assets, contingent liabilities and commitments 10 Fair value valuation techniques 11 Capital-adequacy analysis 12 Disclosures on related parties 13 Balance sheet – Group
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12LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026 SEK M Jan–Jun 2026 Jan–Jun 2025 Cash and cash equivalents, 1 January 10,758.7 588.6 Operating activities Operating profit 1,198.4 1,170.8 Adjustment of non-cash items –1,340.5 –438.3 Change in assets of operating activities Change in interest-bearing securities –11,424.3 –14,258.4 Change in loans to the public –9,962.8 –3,407.4 Change in other assets 10,656.1 –2,124.7 Change in liabilities of operating activities Change in deposits and funding from the public 6,695.5 9,094.6 Change in debt securities in issue 13,852.4 16,462.6 Change in other liabilities –5,303.2 –5,856.5 Cash flow from operating activities 4,371.6 642.7 Investing activities Acquisition of intangible assets –94.1 –90.3 Acquisition of property and equipment –23.5 –131.3 Cash flow from investing activities –117.6 –221.6 Financing activities Amortisation of lease liabilities –9.5 –8.7 Dividends on issued Additional Tier 1 instruments –65.9 –72.7 Repayment of subordinated liabilities –1,495.1 – Dividends paid –577.2 –288.3 Cash flow from financing activities –2,147.7 –369.7 Net cash flow for the period 2,106.3 51.4 Cash and cash equivalents, 30 June 12,865.0 640.0 Cash and cash equivalents are defined as cash and balances at central banks and loans due to credit institutions payable on demand. Cash-flow statement in summary, indirect method – Group
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13LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026 Reserves SEK M Share capital Other capital contributed Additional Tier 1 instruments1) Fair value reserve Hedge reserve Retained earnings Total Opening balance, 1 January 2025 2,864.6 8,242.5 2,550.0 4.2 –208.6 11,533.3 24,986.1 Profit for the period 912.0 912.0 Other comprehensive income for the period 43.0 16.7 59.7 Comprehensive income for the period 43.0 16.7 912.0 971.7 Dividends paid –288.4 –288.4 Dividends etc., on Additional Tier 1 instruments –72.7 –72.7 Closing balance, 30 June 2025 2,864.6 8,242.5 2,550.0 47.2 –192.0 12,084.2 25,596.7 Opening balance, 1 July 2025 2,864.6 8,242.5 2,550.0 47.2 –192.0 12,084.2 25,596.7 Profit for the period 810.8 810.8 Other comprehensive income for the period 39.2 43.9 83.1 Comprehensive income for the period 39.2 43.9 810.8 893.9 Dividends paid - Group contributions paid –910.0 –910.0 Tax on Group contributions paid 187.4 187.4 Dividends etc., on Additional Tier 1 instruments 300.0 –85.2 214.8 Closing balance, 31 December 2025 2,864.6 8,242.5 2,850.0 86.4 –148.1 12,087.3 25,982.9 Opening balance, 1 January 2026 2,864.6 8,242.5 2,850.0 86.4 –148.1 12,087.3 25,982.9 Profit for the period 929.2 929.2 Other comprehensive income for the period 55.7 –11.6 44.1 Comprehensive income for the period 55.7 –11.6 929.2 973.3 Dividends paid –577.2 –577.2 Dividends etc., on Additional Tier 1 instruments –65.9 –65.9 Closing balance, 30 June 2026 2,864.6 8,242.5 2,850.0 142.1 –159.6 12,373.4 26,313.0 1) The issued Additional Tier 1 instrument is deemed to fulfil the conditions of an equity instrument since: – The instrument, according to the conditions, does not have a set maturity date, meaning that the issuer has an unconditional right to refrain from making repayments. – The issuer of the instrument has full discretion regarding interest payments, that is to say no obligation to pay interest. Statement of changes in equity – Group
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NOTE 1 ACCOUNTING POLICIES This report was prepared in accordance with IAS 34 Interim Financial Reporting. The consolidated financial statements were prepared in accordance with International Financial Reporting Standards (IFRS) and the interpretations of this standards as endorsed by the European Commission. Furthermore, the Swedish Annual Accounts Act for Credit Institutions and Securities Companies (ÅRKL) (1995:1559) and the Swedish Financial Supervisory Authority’s (SFSA) regulations and general guidelines (FFFS 2008:25) regarding annual reports at credit institutions and securities companies were applied. The Group also applies the Swedish Corporate Reporting Board’s (RFR) recommenda- tion RFR 1 Supplementary Accounting Rules for Groups and state- ments issued by the Swedish Corporate Reporting Board. Disclosures in accordance with IAS 34 appear in the financial statements and their associated notes as well as other parts of the interim report This note describes the areas in which changes have been made due to new or amended accounting policies compared with the 2025 Annual Report. For all other areas, the same accounting policies and calculation methods were applied. AMENDED ACCOUNTING POLICIES APPLIED FROM 1 JANUARY 2026 New or amended standards and interpretations that come into effect for fiscal years beginning on or after 1 January 2026 are not deemed to have any material impact on the consolidated financial statements, capital requirements, own funds or other circumstances according to the applicable regulatory requirements. NEW IFRS AND INTERPRETATIONS THAT HAVE NOT YET BEEN APPLIED New or amended standards and interpretations that come into effect for fiscal years beginning on or after 1 January 2027 were not applied in advance when this financial report was prepared. The expected effects of the application on the financial reporting are described below. IFRS 18 Presentation and Disclosure in Financial Statements On 9 April 2024, the IASB published IFRS 18 Presentation and Disclo- sure in Financial Statements that will replace IAS 1 Presentation of Financial Statements on 1 January 2027. The standard has been adopted by the EU. IFRS 18 introduces new requirements for the pre- sentation and disclosure in financial statements, with a particular focus on the income statement and disclosures of management-de- fined performance measures. Under the standard, the income state- ment is to be divided into five categories – the operating, investing and financing categories are new, while the income taxes and discontinued operations categories are unchanged. The standard includes an exception that requires companies with “specified main business activities” to classify certain types of income and expenses in the operating category rather than the investing or financing category. The Group has determined that its main business activity is to pro- vide financing to customers, which means that the Group’s income and expenses will primarily be reported under the operating category. In addition, the Group is conducting a review of the aggregation and disaggregation of financial information, as well as analysing and assessing which disclosures are management-defined performance measures. IFRS 18 does not introduce any new valuation principles, and the standard is thus not expected to have any financial impact or effects on capital requirements, own funds or other circumstances under applicable regulatory requirements. Other new or revised IFRS and interpretations that, as of the balance sheet date, have been adopted by the IASB but have not yet come into force are not expected to have any material effect on the Group’s financial statements, capital requirements, own funds, or other conditions in accordance with applicable regulatory requirements. Notes – Group All figures in SEK M unless otherwise stated. Comparative figures in parentheses: income-statement items are compared with the immedi- ately preceding quarter, balance-sheet items are compared with the immediately preceding year-end, unless otherwise stated. 14LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Income statement, Jan–Jun 2026 SEK M Banking operations Mortgage institution Finance company Mutual funds SAVR Eliminations/ Adjustments Total Net interest income 1,387.1 1,069.2 406.2 18.0 2.8 –0.7 2,882.6 Dividends received 3,237.3 – – – – –3,237.2 0.1 Commission income 830.2 16.8 84.6 612.5 7.9 –150.8 1,401.2 Commission expense –971.0 –53.1 –26.8 –264.1 –3.4 150.8 –1,167.6 Net gains/losses from financial items 20.2 –27.8 – – –0.1 – –7.7 Intra-Group income 163.0 – 2.3 – 7.7 –172.5 0.5 Other income –1.5 – 73.6 – 0.2 – 72.3 Total operating income 4,665.3 1,005.1 539.9 366.4 15.1 –3,410.4 3,181.4 Intra-Group expenses –1.1 –59.2 –91.5 –12.9 – 164.7 – Other administration expenses –1,247.8 –18.5 –198.8 –128.2 –66.6 17.2 –1,642.7 Depreciation/amortisation and impairment –80.8 –0.1 –65.0 –0.1 –6.8 –22.9 –175.7 Total operating expenses –1,329.7 –77.8 –355.3 –141.2 –73.4 159.1 –1,818.3 Profit before credit losses and fees levied 3,335.6 927.3 184.6 225.2 –58.3 –3,251.3 1,363.1 Credit losses, net 0.8 1.6 45.0 – – 0.9 48.3 Share of profit/loss of participating interests – – – – – 0.2 0.2 Fees levied –70.8 –139.8 –2.5 – – – –213.1 Operating profit 3,265.6 789.1 227.0 225.2 –58.3 –3,250.2 1,198.4 Balance sheet 30 June 2026 Total assets 274,419.0 399,537.8 26,849.5 1,263.6 260.9 –158,717.7 543,613.0 Liabilities 260,611.7 381,457.6 23,383.7 357.9 37.1 –148,548.0 517,300.1 Equity 13,807.2 18,080.2 3,465.8 905.7 223.7 –10,169.7 26,313.0 Total liabilities and equity 274,419.0 399,537.8 26,849.5 1,263.6 260.9 –158,717.7 543,613.0 Income statement, Jan–Jun 2025 SEK M Banking operations Mortgage institution Finance company Mutual funds SAVR Eliminations/ Adjustments Total Net interest income 1,298.3 1,223.2 412.0 24.2 – –2.4 2,955.3 Dividends received 0.1 – – – – – 0.1 Commission income 642.7 16.6 85.1 576.3 – –99.7 1,221.0 Commission expense –950.1 –72.9 –21.4 –251.7 – 99.7 –1,196.4 Net gains/losses from financial items 1.2 1.2 0.1 – – – 2.5 Intra-Group income 86.0 – 2.3 – – –88.3 – Other income –3.4 – 62.9 – – – 59.6 Total operating income 1,074.8 1,168.1 541.0 348.8 – –90.7 3,042.0 Intra-Group expenses –0.8 –59.2 –13.4 –14.9 – 88.3 – Other administration expenses –1,013.3 –17.7 –275.0 –121.6 – 8.7 –1,418.9 Depreciation/amortisation and impairment –96.0 –0.1 –53.5 –0.1 – –6.5 –156.2 Total operating expenses –1,110.1 –77.0 –341.9 –136.6 – 90.5 –1,575.1 Profit before credit losses and fees levied –35.3 1,091.1 199.1 212.2 – –0.2 1,466.9 Credit losses, net –3.2 –3.4 –81.5 – – 1.8 –86.3 Share of profit/loss of participating interests – – – – 0.6 0.6 Fees levied –75.0 –133.7 –1.8 – – – –210.5 Operating profit –113.5 954.0 115.8 212.2 – 2.2 1,170.8 Balance sheet 30 June 2025 Total assets 252,771.3 370,127.8 26,649.5 2,477.0 – –132,822.7 519,202.8 Liabilities 242,043.3 351,859.1 22,235.6 362.6 – –122,894.4 493,606.2 Equity 10,728.0 18,268.7 4,413.9 2,114.4 – –9,928.3 25,596.7 Total liabilities and equity 252,771.3 370,127.8 26,649.5 2,477.0 – –132,822.7 519,202.8 Income and assets are attributable in their entirety to Sweden. The segment distribution per legal entity reflects the internal reporting to the chief operating decision maker. The legal structure within Läns- försäkringar Bank Group is in line with the product offering to external customers. The portion of assets and liabilities that is not distributed per segment comprises intra-Group eliminations within the Bank Group. For more information, see note 4 Net commission income. NOTE 2 SEGMENT REPORTING 15LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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SEK M Q 2 2026 Q 1 2026 Q 2 2025 Jan–Jun 2026 Jan–Jun 2025 Full-Year 2025 Interest income Loans to credit institutions 83.2 62.8 71.9 146.0 135.2 257.3 Loans to the public 3,387.4 3,247.0 3,524.6 6,634.4 7,150.6 13,899.9 Interest-bearing securities1) 422.2 384.8 371.3 806.9 731.6 1,482.0 Derivatives –21.2 –72.3 100.0 –93.5 285.3 315.9 Other interest income –0.3 0.1 –3.9 –0.1 –3.3 0.7 Total interest income according to the effective interest method 3,871.3 3,622.4 4,063.9 7,493.7 8,299.4 15,955.8 Interest expense Due to credit institutions –17.3 –9.3 –32.9 –26.6 –69.1 –99.8 Deposits and funding from the public –223.5 –215.3 –339.0 –438.9 –719.3 –1,245.0 Debt securities in issue2) –2,161.5 –2,005.8 –1,825.6 –4,167.3 –3,485.1 –7,259.1 Subordinated liabilities –26.5 –35.2 –28.7 –61.7 –58.2 –116.2 Derivatives 46.1 81.3 –351.5 127.5 –944.1 –1,338.1 Other interest expense –22.4 –21.7 –35.2 –44.1 –68.4 –87.3 Total interest expense according to effective inter- est method –2,405.1 –2,206.0 –2,612.8 –4,611.1 –5,344.1 –10,145.6 Total net interest income 1,466.2 1,416.4 1,451.1 2,882.6 2,955.3 5,810.2 1) Of which negative interest on Interest-bearing securities of SEK –1.3 M (–1.3). 2) Interest expense on non-preferred senior debt amounted to SEK 140.6 M (127.0). SEK M Q 2 2026 Q 1 2026 Q 2 2025 Jan–Jun 2026 Jan–Jun 2025 Full-Year 2025 Commission income Payment mediation 51.1 51.9 48.1 103.0 96.8 181.9 Loans 39.2 40.1 27.1 79.4 83.0 165.0 Deposits 0.5 0.9 0.4 1.4 1.1 2.1 Securities 391.2 378.2 338.0 769.4 712.0 1,450.9 Cards 151.1 137.0 137.2 288.1 232.4 487.1 Remuneration to regional insurance companies 80.0 78.5 49.0 158.5 88.8 231.8 Other commission 0.7 0.7 3.6 1.4 7.0 8.5 Total commission income 713.8 687.4 603.5 1,401.2 1,221.0 2,527.3 Commission expense Payment mediation –42.7 –37.0 –40.4 –79.7 –74.8 –154.7 Securities –67.3 –63.1 –45.0 –130.4 –98.9 –213.0 Cards –56.0 –54.7 –55.4 –110.8 –106.0 –217.9 Remuneration to regional insurance companies –385.7 –410.6 –386.6 –796.3 –858.7 –1,676.9 Administration costs –14.6 –20.1 –21.5 –34.8 –41.8 –80.9 Other commission –7.5 –8.1 –8.0 –15.6 –16.3 –33.4 Total commission expense –573.9 –593.7 –556.9 –1,167.6 –1,196.4 –2,376.8 Total net commission income 139.9 93.7 46.6 233.6 24.6 150.6 There are no material uncertainties regarding income or cash flow in the table above since they are settled on an ongoing basis. Outstanding remu- neration to the regional insurance companies and securities commission are also settled on an ongoing basis. For more information, see note 2 Seg- ment reporting. NOTE 3 NET INTEREST INCOME NOTE 4 NET COMMISSION INCOME 16LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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SEK M Q 2 2026 Q 1 2026 Q 2 2025 Jan–Jun 2026 Jan–Jun 2025 Full-Year 2025 Interest-bearing assets and liabilities and related derivatives –23.9 3.6 10.4 –20.3 –3.4 –2.4 Other financial assets and liabilities 14.0 –6.7 –2.8 7.3 –2.3 –3.2 Interest compensation (refers to items measured at amortised cost) 2.3 3.0 4.2 5.3 8.1 17.0 Total net gains/losses from financial items –7.6 –0.1 11.8 –7.7 2.5 11.4 Net credit losses, SEK M Q 2 2026 Q 1 2026 Q 2 2025 Jan–Jun 2026 Jan–Jun 2025 Full-Year 2025 Change in loss allowance for loan receivables Stage 1 (not credit-impaired) 5.3 19.3 –7.8 24.6 –10.4 –13.4 Stage 2 (not credit-impaired) –5.6 18.1 –1.1 12.5 –12.6 –1.9 Stage 3 (credit-impaired) –8.3 36.1 –6.7 27.8 23.6 60.5 Total change in loss allowance for loan receivables –8.6 73.5 –15.6 64.9 0.7 45.2 Expense for confirmed credit losses –47.8 –74.8 –57.2 –122.6 –112.1 –239.8 Payment received for prior confirmed credit losses 8.0 96.9 13.1 104.9 28.9 51.6 Net expense for the period for credit losses for loan receivables1) –48.4 95.6 –59.7 47.3 –82.5 –143.0 Change in loss allowance for commitments –2.1 4.5 6.8 2.4 –2.7 2.3 Net expense for other credit losses –0.7 –0.4 –0.4 –1.1 –0.9 –2.3 Net expense of the modification result –0.1 –0.1 –0.1 –0.3 –0.2 –0.4 Net expense for credit losses –51.3 99.6 –53.4 48.3 –86.3 –143.4 1) A condition for full payment of the regional insurance companies’ remuneration by the Bank Group is that the loans generated by each regional insurance company for the Bank Group (excluding LF Finans AB) are of high quality. If this is not the case, up to 80% of any credit losses are off-set against the accrued remuneration to the regional insurance companies. This model for settlement of credit losses is kept separate and is taken into consideration when the provisions are established. 30 Jun 2026 Base scenario Negative scenario Positive scenario 2026 2027 2028 2026 2027 2028 2026 2027 2028 House prices, annual change in % 4.5% 4.4% 4.0% 2.2% –0.0% 4.0% 6.9% 9.0% 4.0% GDP, annual change in % 2.0% 2.6% 1.3% 1.5% 0.8% 1.7% 2.7% 3.5% 1.1% Unemployment, level in % 8.6% 8.0% 7.3% 8.7% 8.6% 7.7% 8.4% 7.5% 7.1% 31 Mar 2026 Base scenario Negative scenario Positive scenario 2026 2027 2028 2026 2027 2028 2026 2027 2028 House prices, annual change in % 4.6% 4.3% 4.0% –0.0% 2.2% 4.0% 9.4% 6.5% 4.0% GDP, annual change in % 2.5% 2.6% 1.4% 1.9% 0.9% 1.8% 3.1% 3.7% 1.1% Unemployment, level in % 8.4% 7.6% 7.1% 8.7% 8.2% 7.4% 8.1% 7.3% 7.1% 30 Jun 2025 Base scenario Negative scenario Positive scenario 2025 2026 2027 2025 2026 2027 2025 2026 2027 House prices, annual change in % 0.4% 5.7% 4.0% –1.1% 0.5% 4.0% 1.9% 10.8% 4.0% GDP, annual change in % 1.1% 3.0% 2.4% 1.0% 1.7% 2.0% 1.2% 4.3% 2.8% Unemployment, level in % 8.6% 8.2% 7.7% 8.6% 8.8% 8.2% 8.5% 7.7% 7.4% In the second quarter of 2026, total credit losses amounted to SEK –46.7 M (107.0), of which the Bank Group’s recognised credit losses amounted to SEK –51.3 M (99.6) and the remainder of SEK 4.6 M (7.3) was settled against remuneration to the regional insurance companies. The table below shows the forward-looking macroeconomic sce- narios used for calculating the loss allowance. The macroeconomic scenarios applied in the model calculations were updated in the first quarter to reflect the current macroeconomic situ- ation. Three potential macroeconomic scenarios are considered when calculating expected credit losses: a base scenario that is currently weighted at 60%, and a more positive scenario and a more negative scenario that are both weighted at 20%. NOTE 5 NET GAINS / LOSSES FROM FINANCIAL ITEMS NOTE 6 CREDIT LOSSES 17LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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SEK M 30 Jun 2026 31 Dec 2025 30 Jun 2025 Public sector 5,166.6 5,181.6 14,204.7 Corporate sector 30,449.5 29,599.6 29,666.4 Retail sector 403,384.3 394,259.4 385,103.2 Other – – – Loans to the public before reserves 439,000.4 429,040.6 428,974.3 Loss allowance –417.9 –482.7 –527.9 Total loans to the public 438,582.5 428,557.9 428,446.4 30 Jun 2026 Gross carrying amount Loss allowances Carrying net amount Allocation per stage, SEK M Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Total loans to the public Länsförsäkringar Hypotek AB 363,857.7 2,774.2 287.8 366,919.6 –2.4 –4.3 –5.7 –12.4 366,907.3 Länsförsäkringar Bank AB 44,617.1 1,267.0 228.9 46,113.0 –1.2 –3.3 –10.3 –14.8 46,098.2 Länsförsäkringar Finans AB 22,179.3 3,417.8 370.7 25,967.9 –45.5 –110.7 –234.7 –390.8 25,577.0 Total 430,654.1 7,459.0 887.3 439,000.4 –49.0 –118.2 –250.8 –417.9 438,582.5 31 Dec 2025 Gross carrying amount Loss allowances Carrying net amount Allocation per stage, SEK M Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Total loans to the public Länsförsäkringar Hypotek AB 352,735.8 3,752.9 340.5 356,829.3 –3.6 –4.6 –7.1 –15.3 356,814.0 Länsförsäkringar Bank AB 44,693.1 1,201.4 258.0 46,152.5 –1.7 –3.0 –12.4 –17.1 46,135.4 Länsförsäkringar Finans AB 22,305.7 3,362.6 390.5 26,058.8 –68.5 –122.9 –258.9 –450.3 25,608.5 Total 419,734.7 8,317.0 989.0 429,040.6 –73.8 –130.6 –278.4 –482.7 428,557.9 30 Jun 2025 Gross carrying amount Loss allowances Carrying net amount Allocation per stage, SEK M Stage 1 Stage 2 Stage 3 Total Stage 1 Stage 2 Stage 3 Total Total loans to the public Länsförsäkringar Hypotek AB 343,886.1 3,246.3 366.4 347,498.9 –3.7 –5.3 –7.1 –16.1 347,482.8 Länsförsäkringar Bank AB 54,136.7 1,274.7 282.8 55,694.2 –1.8 –3.8 –14.2 –19.8 55,674.5 Länsförsäkringar Finans AB 21,801.2 3,535.9 444.1 25,781.3 –65.2 –132.2 –294.7 –492.1 25,289.2 Total 419,824.1 8,057.0 1,093.3 428,974.3 –70.7 –141.3 –316.0 –527.9 428,446.4 NOTE 7 LOANS TO THE PUBLIC, LOAN RECEIVABLES ARE GEOGRAPHICALLY ATTRIBUTABLE IN THEIR ENTIRETY TO SWEDEN 18LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Not credit-impaired Credit-impaired Change of loss allowance, SEK M Stage 1 Stage 2 Stage 3 Total Opening balance, 1 January 2026 –73.8 –130.6 –278.4 –482.7 Increase due to new or acquired loans –17.8 –0.1 –1.0 –18.9 Change in loss allowance model or method –0.7 0.0 0.0 –0.7 Decrease due to repayment 11.9 19.6 57.9 89.4 Change due to changed credit risk –17.4 –23.4 –28.0 –68.8 Transfer between stages 47.5 7.3 –75.0 –20.1 Other adjustments 1.3 1.8 0.6 3.7 Sale – 7.2 33.2 40.4 Decrease due to write-off – 0.0 39.9 39.9 Closing balance, 30 June 2026 –49.0 –118.2 –250.8 –417.9 Not credit-impaired Credit-impaired Allocation of loss allowance requirement Stage 1 Stage 2 Stage 3 Total Loans to the public before loss allowances 430,654.1 7,459.0 887.3 439,000.4 Credit reserve requirement –63.4 –147.7 –313.6 –524.7 Withheld remuneration to the regional insurance companies 14.4 29.5 62.9 106.8 Recognised loss allowance –49.0 –118.2 –250.8 –417.9 Total loans to the public 430,605.1 7,340.8 636.6 438,582.5 Not credit-impaired Credit-impaired Change of loss allowance, SEK M Stage 1 Stage 2 Stage 3 Total Opening balance, 1 January 2025 –60.3 –128.7 –338.5 –527.5 Increase due to new or acquired loans –18.5 –0.2 –1.3 –19.9 Change in loss allowance model or method –0.7 0.1 0.1 –0.4 Decrease due to repayment 9.8 18.2 57.7 85.7 Change due to changed credit risk –51.4 –42.8 –40.8 –135.1 Transfer between stages 49.7 1.8 –75.8 –24.4 Other adjustments 0.8 1.8 –0.1 2.4 Sale – 8.6 25.2 33.8 Decrease due to write-off – – 57.5 57.5 Closing balance, 30 June 2025 –70.7 –141.3 –316.0 –527.9 Not credit-impaired Credit-impaired Allocation of loss allowance requirement Stage 1 Stage 2 Stage 3 Total Loans to the public before loss allowances 419,824.1 8,057.0 1,093.3 428,974.3 Credit reserve requirement –92.4 –177.4 –398.9 –668.7 Withheld remuneration to the regional insurance companies 21.8 36.1 82.9 140.8 Recognised loss allowance –70.7 –141.3 –316.0 –527.9 Total loans to the public 419,753.4 7,915.7 777.4 428,446.4 A condition for full payment of the regional insurance companies’ remuneration by the Bank Group is that the loans generated by each regional insurance company for the Bank Group (excluding LF Finans AB) are of high quality. If this is not the case, up to 80% of any credit losses are off-set against the accrued remuneration to the regional insurance companies. This model for settlement of credit losses is kept separate and is taken into consideration when the provisions are established. NOTE 7, CONT. LOANS TO THE PUBLIC LOAN RECEIVABLES ARE GEOGRAPHICALLY ATTRIBUTABLE IN THEIR ENTIRETY TO SWEDEN 19LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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NOTE 8 LOANS TO CREDIT INSTITUTIONS On 30 June 2026, loans to credit institutions amounted to SEK 4,957.7 M (12,062.8) and were included in Stage 1. Loss allowance for credit losses amounted to SEK 0.0 M (0.0). SEK 1,235.9 M (1,331.9) of the item pertains to the Riksbank’s right to require inter- est-free deposits. 30 Jun 2026 31 Dec 2025 30 Jun 2025 SEK M Nominal value Fair value Nominal value Fair value Nominal value Fair value Derivatives with positive values Derivatives in hedge accounting Interest-related 221,012.0 4,772.7 147,138.0 2,673.3 176,966.0 5,771.4 Currency-related 21,206.4 608.6 28,085.8 1,406.4 43,463.0 2,080.1 Other derivatives Currency-related 285.9 7.5 – – 156.7 3.1 Total derivatives 242,504.3 5,388.8 175,223.8 4,079.7 220,585.7 7,854.5 Offset derivatives with positive values –142,544.0 –1,441.7 –112,503.0 –2,156.7 –126,331.0 –2,262.5 Net amount after offset 99,960.3 3,947.1 62,720.8 1,923.0 94,254.7 5,592.0 Derivatives with negative values Derivatives in hedge accounting Interest-related 174,993.0 2,290.4 203,817.0 3,214.8 203,561.0 3,680.1 Currency-related 45,082.8 1,076.3 43,876.0 1,357.5 24,503.6 526.4 Other derivatives Currency-related – – 27.7 0.8 28.6 0.2 Total derivatives 220,075.8 3,366.7 247,720.7 4,573.2 228,093.2 4,206.7 Offset derivatives with negative values –142,544.0 –1,441.7 –112,503.0 –2,156.7 –126,331.0 –2,262.5 Net amount after offset 77,531.8 1,925.0 135,217.7 2,416.4 101,762.2 1,944.2 SEK M 30 Jun 2026 31 Dec 2025 30 Jun 2025 For own liabilities, pledged assets 361,794.1 350,766.5 344,846.7 Contingent liabilities 48.7 45.0 40.8 Commitments1) 53,282.6 30,066.3 32,412.0 1) Commitments to related parties amounted to SEK 7.7 M (10.7) for the regional insurance companies, 20.0 M (20.0) for Länsförsäkringar AB and SEK 6.4 M (6.4) for other related parties. Contingent liabilities comprise contingent liabilities, which in turn comprise guarantees. Assumptions comprise approved but not dis- bursed loans and approved but unutilised overdraft facilities and card loans. For additional information about provisions for credit losses on commitments, see note 6. NOTE 9 DERIVATIVES NOTE 10 PLEDGED ASSETS, CONTINGENT LIABILITIES AND COMMITMENTS Financial hedging agreements were signed to hedge against inter- est-rate risks and currency risks stemming from the Group’s opera- tions. Hedge accounting is applied to funding, lending, deposits, bonds and other securities. Hedging instruments primarily comprise interest and currency interest-rate swaps. 20LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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30 Jun 2026 31 Dec 2025 30 Jun 2025 SEK M Carrying amount Fair value Carrying amount Fair value Carrying amount Fair value Financial assets Cash and balances with central banks 12,092.5 12,092.5 9,929.5 9,929.5 107.8 107.8 Treasury bills and other eligible bills 22,529.0 22,529.0 13,941.1 13,941.1 22,596.1 22,596.1 Loans to credit institutions 3,721.8 3,721.8 1,618.4 1,618.4 4,638.6 4,638.6 Loans to the public 438,582.5 439,257.4 428,557.9 428,922.0 428,446.4 428,849.8 Bonds and other interest-bearing securities 57,243.1 57,243.1 53,965.1 53,965.1 53,795.7 53,795.7 Shares and participations 214.9 214.9 193.2 193.2 195.1 195.1 Derivatives 3,947.1 3,947.1 1,923.0 1,923.0 5,592.0 5,592.0 Other assets 246.4 246.4 211.9 211.9 260.0 260.0 Prepaid expenses and accrued income 307.3 307.3 305.6 305.6 292.0 292.0 Total 538,884.5 539,559.4 510,645.6 511,009.7 515,923.8 516,327.1 Financial liabilities Due to credit institutions 8,190.4 8,190.4 1,597.2 1,597.2 5,801.6 5,801.6 Deposits and funding from the public 169,730.9 170,298.8 163,035.3 164,997.7 164,475.6 166,483.7 Debt securities in issue 325,246.9 332,530.3 310,800.6 314,617.0 308,236.6 314,382.4 Derivatives 1,925.0 1,925.0 2,416.4 2,416.4 1,944.2 1,944.2 Other liabilities 369.9 369.9 380.3 380.3 235.9 235.9 Subordinated liabilities 2,695.1 2,878.2 4,194.0 4,246.8 3,096.3 3,138.4 Accrued expenses and deferred income 5,437.4 5,437.4 3,050.2 3,050.2 4,569.1 4,569.1 Total 513,595.5 521,630.0 485,474.1 491,305.6 488,359.4 496,555.2 The carrying amount of cash and balances with central banks, loans to credit institutions, other assets, prepaid expenses and accrued income, due to credit institutions, other liabilities and accrued expenses and deferred income comprises a reasonable approximation of the fair value based on the cost of the assets and liabilities, since these assets and liabilities have short terms. NOTE 11 FAIR VALUE VALUATION TECHNIQUES 21LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Financial assets and liabilities measured at fair value in the balance sheet are presented in the table based on the valuation techniques applied: Level 1 refers to prices determined from prices listed in an active market Level 2 refers to prices determined by calculated prices of observable market listings Level 3 refers to prices based on own assumptions and judgements Financial instruments measured at fair value in the balance sheet 30 Jun 2026, SEK M Level 1 Level 2 Level 3 Total Assets Treasury bills and other eligible bills 10,531.0 11,997.9 22,529.0 Bonds and other interest-bearing securities 57,243.1 57,243.1 Shares and participations 8.1 31.8 175.0 214.9 Derivatives 3,947.1 3,947.1 Liabilities Derivatives 1,925.0 1,925.0 31 Dec 2025, SEK M Assets Treasury bills and other eligible bills 6,943.5 6,997.7 13,941.1 Bonds and other interest-bearing securities 53,965.1 53,965.1 Shares and participations 6.2 33.7 153.3 193.2 Derivatives 1,923.0 1,923.0 Liabilities Derivatives 2,416.4 2,416.4 30 June 2025, SEK M Assets Treasury bills and other eligible bills 6,597.9 15,998.2 22,596.1 Bonds and other interest-bearing securities 53,795.7 53,795.7 Shares and participations 6.8 34.3 154.0 195.1 Derivatives 5,592.0 5,592.0 Liabilities Derivatives 1,944.2 1,944.2 Change in level 3, SEK M Shares and partici- pations Opening balance, 1 January 2026 153.3 Recognised through profit or loss 6.1 Recognised in other comprehensive income 15.6 Closing balance, 30 June 2026 175.0 Opening balance, 1 January 2025 156.2 Recognised through profit or loss –2.9 Recognised in other comprehensive income 0.0 Closing balance, 31 December 2025 153.3 Opening balance, 1 January 2025 156.2 Recognised through profit or loss –2.2 Recognised in other comprehensive income 0.0 Closing balance, 30 June 2025 154.0 Shares and participations and other assets in Level 3 are measured at fair value. Since there is no active market for these shares, the fair value cannot be calculated reliably based on such a listing. Instead, regular valuations are performed based on, for example, recent com- pany reports and forecast results. The fair value of Level 2 shares and participations that pertain to unlisted Series B shares in Mastercard Incorporated (MA) is measured based on the price of the Series A share on the balance-sheet date. Derivatives in Level 2 essentially refer to swaps for which fair value is calculated by discounting expected future cash flows. Holdings in Level 3 primarily comprise holdings of a strategic nature. NOTE 11, CONT. FAIR VALUE VALUATION TECHNIQUES, CONT. 22LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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NOTE 12 CAPITAL-ADEQUACY ANALYSIS – KEY FIGURES The capital-adequacy analysis was prepared in accordance with FFFS 2008:25. Under this regulation, an institution is to present the disclo- sures stipulated in Article 447 of the Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (Capital Requirements Regulation). The capital-adequacy analysis is also to include an overview of the total risk exposure amount in accor- dance with Article 438 d of the Capital Requirements Regulation. The Group’s disclosures on its total own funds requirements and its own funds in accordance with the Swedish Financial Supervisory Authori- ty’s regulation and general guideline regarding prudential require- ments and capital buffers (FFFS 2014:12) are found in the section Capital adequacy on page 6. Other information that is to be disclosed in accordance with Part Eight of the Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms is published on https:/ /www.lansforsakringar.se/stockholm/ other-languages/. Consolidated situation SEK M 30 Jun 2026 31 Dec 2025 30 Jun 2025 Available own funds (amounts) Common Equity Tier 1 (CET1) capital 20,840.5 20,580.8 20,961.5 Tier 1 capital 23,690.5 23,430.8 23,511.5 Total capital 26,382.0 27,617.4 26,601.4 Risk-weighted exposure amounts Total risk-weighted exposure amount 148,218.2 140,616.0 139,513.5 Total risk exposure pre-floor 148,218.2 140,616.0 139,513.5 Capital ratios (as a percentage of risk-weighted exposure amount) Common Equity Tier 1 ratio (%) 14.1% 14.6% 15.0% Common Equity Tier 1 ratio considering unfloored TREA (%) 14.1% 14.6% 15.0% Tier 1 ratio (%) 16.0% 16.7% 16.9% Tier 1 ratio considering unfloored TREA (%) 16.0% 16.7% 16.9% Total capital ratio (%) 17.8% 19.6% 19.1% Total capital ratio considering unfloored TREA (%) 17.8% 19.6% 19.1% Additional own funds requirements based on SREP (as a percentage of risk-weighted exposure amount) Additional own funds requirements to address risks other than the risk of excessive leverage (%) 2.0% 2.0% 2.1% of which: to be made up of CET1 capital (percentage points) 1.1% 1.1% 1.2% of which: to be made up of Tier 1 capital (percentage points) 1.5% 1.5% 1.6% Total SREP own funds requirements (%) 10.0% 10.0% 10.1% Combined buffer requirement (as a percentage of risk-weighted exposure amount) Capital conservation buffer (%) 2.5% 2.5% 2.5% Conservation buffer due to macro-prudential or systemic risk identified at the level of a Member State (%) 0% 0% 0% Institution specific countercyclical capital buffer (%) 2% 2% 2% Systemic risk buffer (%) 0% 0% 0% Global Systemically Important Institution buffer (%) 0% 0% 0% Other Systemically Important Institution buffer 0% 0% 0% Combined buffer requirement (%) 4.5% 4.5% 4.5% Overall capital requirements (%) 14.5% 14.5% 14.6% CET1 available after meeting the total SREP own funds requirements (%) 7.8% 9.0% 9.0% Leverage ratio Leverage ratio total exposure measure 564,392.2 528,930.6 531,774.5 Leverage ratio (%) 4.2% 4.4% 4.4% Additional own funds requirements to address risks of excessive leverage (as a percentage of leverage ratio total exposure amount) Additional own funds requirements to address risks of excessive leverage (%) 0% 0% 0% of which: to be made up of CET1 capital (percentage points) 0% 0% 0% Total SREP leverage ratio requirements (%) 3% 3% 3% 23LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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NOTE 12, CONT. CAPITAL-ADEQUACY ANALYSIS – KEY FIGURES Consolidated situation SEK M 30 Jun 2026 31 Dec 2025 30 Jun 2025 Leverage ratio buffer and overall leverage ratio requirement (as a percentage of total exposure measure) Leverage ratio buffer requirement (%) 0% 0% 0% Overall leverage ratio requirements (%) 3% 3% 3% Liquidity Coverage Ratio (12 months average) Total high-quality liquid assets (HQLA) (Weighted value – average) 72,064.3 70,992.0 64,517.0 Cash outflows – Total weighted value 36,292.0 35,000.6 33,704.4 Cash inflows – Total weighted value 7,338.9 8,029.7 10,386.1 Total net cash outflows (adjusted value) 28,953.1 26,970.9 22,318.2 Liquidity coverage ratio (%) 251.5% 269.4% 282.1% Net Stable Funding Ratio Total available stable funding 469,247.9 446,504.4 451,643.5 Total required stable funding 363,084.6 350,783.0 355,019.7 NSFR ratio (%) 129% 127% 127% CAPITAL-ADEQUACY ANALYSIS – OVERVIEW OF RISK WEIGHTED EXPOSURE AMOUNTS Consolidated situation 30 Jun 2026 31 Dec 2025 30 Jun 2025 SEK M Risk exposure amount Capital requirement Risk exposure amount Capital requirement Risk exposure amount Capital requirement Credit risk (excluding CCR) 132,197.2 10,575.8 124,422.1 9,953.8 122,819.8 9,825.6 Of which: the standardised approach 8,850.8 708.1 8,314.4 665.2 8,255.4 660.4 Of which: the foundation IRB (FIRB) approach 11,507.8 920.6 10,453.3 836.3 10,394.0 831.5 Of which: the advanced IRB (AIRB) approach 35,674.2 2,853.9 22,280.6 1,782.4 22,568.0 1,805.4 Of which: risk exposure amounts according to Article 458 CRR 75,926.7 6,074.1 83,156.8 6,652.5 81,456.8 6,516.5 Counterparty credit risk – CCR 337.0 27.0 513.1 41.0 1,735.7 138.9 of which: the standardised approach 317.7 25.4 497.6 39.8 619.1 49.5 of which: exposures to a CCP 19.3 1.5 15.4 1.2 20.0 1.6 Credit valuation adjustment – CVA 608.9 48.7 702.1 56.2 1,096.6 87.7 of which: the basic approach (R-BA) 608.9 48.7 702.1 56.2 1,096.6 87.7 Of which: other CCR – – – – Operational risk 15,075.1 1,206.0 14,978.8 1,198.3 14,958.0 1,196.6 Output floor applied (%) 55% – 50% – 50% – Floor adjustment (before application of transitional cap) 0 – 0 – 0 – Floor adjustment (after application of transitional cap) 0 – 0 – 0 – Total 148,218.2 11,857.5 140,616.0 11,249.3 139,513.5 11,161.1 NOTE 13 DISCLOSURES ON RELATED PARTIES Significant agreements for the Bank Group are primarily outsourcing agreements with the 23 regional insurance companies and outsourc- ing agreements with Länsförsäkringar AB regarding development, ser- vice, finance and IT. The Group’s remuneration to the regional insur- ance companies in accordance with prevailing outsourcing agreements is presented in note Net commission income. Normal business transactions took place between Group companies as part of the outsourced operations. . NOTE 14 SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD There has been no significant events after the end of the period. 24LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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SEK M Note Q 2 2026 Q 1 2026 Change Q 2 2025 Change Jan–Jun 2026 Jan–Jun 2025 Change Full-Year 2025 Interest income 1,529.9 1,431.0 7% 1,641.7 –7% 2,960.9 3,341.8 –11% 6,351.4 Interest expense –798.9 –774.9 3% –981.1 –19% –1,573.8 –2,043.6 –23% –3,711.5 Net interest income 731.0 656.1 11% 660.6 11% 1,387.1 1,298.3 7% 2,640.0 Dividends received 2 3,237.3 – 0.1 3,237.3 0.1 1,361.0 Commission income 422.0 408.2 3% 325.2 30% 830.2 642.8 29% 1,372.3 Commission expense –497.9 –473.1 5% –460.2 8% –971.0 –950.2 2% –1,916.6 Net commission income –75.9 –64.9 17% –135.0 –44% –140.8 –307.5 –54% –544.3 Net gains/losses from financial items 29.0 –8.8 11.7 20.2 1.2 –9.2 Other operating income 72.3 89.2 –19% 44.6 62% 161.5 82.7 95% 202.1 Total operating income 3,993.7 671.6 582.0 4,665.3 1,074.8 3,649.6 Staff costs –236.6 –211.7 12% –206.2 15% –448.3 –367.4 22% –749.3 Other administration expenses –417.8 –382.7 9% –343.1 22% –800.5 –646.7 24% –1,445.2 Total administration expenses –654.4 –594.4 10% –549.3 19% –1,248.9 –1,014.1 23% –2,194.5 Depreciation/amortisation and impairment of property and equip- ment/intangible assets –40.7 –40.1 1% –49.8 –18% –80.8 –96.1 –16% –263.7 Total operating expenses –695.1 –634.5 10% –599.0 16% –1,329.7 –1,110.2 20% –2,458.2 Profit before credit losses and fees levied 3,298.6 37.1 –17.0 3,335.7 –35.4 1,191.4 Credit losses, net –1.2 2.0 –1.6 –25% 0.8 –3.2 –2.0 Fees levied –44.5 –26.3 69% –36.8 21% –70.8 –75.0 –6% –157.9 Operating profit 3,252.9 12.7 –55.4 3,265.6 –113.5 1,031.5 Appropriations – – – – – –37.0 Tax –9.7 –10.4 –7% 4.8 –20.0 10.4 –233.9 Profit for the period 3,243.2 2.4 –50.6 3,245.6 –103.1 760.6 SEK M Q 2 2026 Q 1 2026 Change Q 2 2025 Change Jan–Jun 2026 Jan–Jun 2025 Change Full-Year 2025 Profit for the period 3,243.2 2.4 –50.6 3,245.6 –103.1 760.6 Other comprehensive income Items that have been transferred or can be transferred to profit for the period Cash-flow hedges –3.4 3.4 10.4 0.1 1.0 –90% 6.4 Change in fair value of debt instru- ments measured at FVOCI 44.9 2.4 –3.4 47.3 48.2 –2% 91.6 Tax attributable to items that are trans- ferred or can be transferred as income for the period –8.6 –1.2 –1.4 –9.7 –10.1 –4% –20.2 Total 33.0 4.7 5.6 37.6 39.1 –4% 77.8 Items that cannot be transferred to profit for the period Change in fair value of equity instru- ments measured at FVOCI 2.0 13.6 –85% –0.3 15.6 –3.3 –4.5 Tax attributable to items that cannot be reversed to profit or loss –0.4 0.3 0.2 –0.1 0.6 0.7 Total 1.7 13.8 –88% –0.1 15.5 –2.7 –3.8 Total other comprehensive income for the period, net after tax 34.7 18.5 88% 5.5 53.1 36.5 45% 74.1 Comprehensive income for the period 3,277.9 20.8 –45.0 3,298.8 –66.6 834.7 Income statement – Parent Company Statement of comprehensive income in summary– Parent Company 25LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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SEK M Note 30 Jun 2026 31 Dec 2025 30 Jun 2025 Assets Cash and balances with central banks 12,092.5 9,929.5 107.8 Treasury bills and other eligible bills 22,529.0 13,941.1 22,596.1 Loans to credit institutions 5 127,807.9 118,733.2 110,771.0 Loans to the public 4 46,098.2 46,135.4 55,674.5 Bonds and other interest-bearing securities 48,058.8 44,664.8 44,501.0 Shares and participations 214.9 193.2 195.1 Shares and participations in joint ventures 5.5 5.5 5.5 Shares and participations within the Group 10,410.1 10,355.1 9,962.5 Derivatives 5,082.4 4,016.5 6,928.8 Fair value changes of interest-rate-risk hedged items in the portfolio hedge –9.0 –18.5 –20.7 Intangible assets 1,340.5 1,341.5 1,415.5 Property and equipment 1.1 1.3 2.1 Deferred tax assets 15.6 15.6 15.7 Other assets 494.5 351.6 324.6 Prepaid expenses and accrued income 277.2 224.5 291.6 Total assets 274,419.0 249,890.3 252,771.3 Liabilities, provisions and equity Due to credit institutions 21,429.8 4,367.4 5,837.4 Deposits and funding from the public 170,441.4 165,144.0 166,510.1 Debt securities in issue 57,334.3 56,354.6 56,224.9 Derivatives 5,397.9 4,232.9 6,672.4 Fair value changes of interest-rate-risk hedged items in the portfolio hedge 56.3 69.8 118.4 Deferred tax liabilities – – – Other liabilities 660.8 1,756.7 686.6 Accrued expenses and deferred income 2,539.6 2,560.2 2,844.2 Provisions 14.5 17.2 18.0 Subordinated liabilities 2,695.1 4,194.0 3,096.3 Total liabilities and provisions 260,569.7 238,696.7 242,008.3 Untaxed reserves 202.0 202.0 165.0 Equity Restricted equity Share capital 2,864.6 2,864.6 2,864.6 Statutory reserve 18.4 18.4 18.4 Development Expenditures Fund 1,340.5 1,341.5 1,415.5 Total restricted equity 4,223.4 4,224.5 4,298.5 Non-restricted equity Additional Tier 1 instruments 2,850.0 2,850.0 2,550.0 Fair value reserve 69.0 15.9 –21.7 Retained earnings 3,259.2 3,140.6 3,874.3 Profit for the period 3,245.6 760.6 –103.1 Total non-restricted equity 9,423.8 6,767.1 6,299.4 Total equity 13,647.3 10,991.6 10,598.0 Total liabilities, provisions and equity 274,419.0 249,890.3 252,771.3 Other notes Accounting policies 1 Capital-adequacy analysis 2 Disclosures on related parties 6 Pledged assets, contingent liabilities and commitments 7 Balance sheet – Parent Company 26LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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SEK M Jan–Jun 2026 Jan–Jun 2025 Cash and cash equivalents, 1 January 10,234.0 295.9 Operating activities Operating profit 3,265.6 –113.5 Adjustment of non-cash items 143.3 206.7 Change in assets of operating activities Change in interest-bearing securities –11,575.3 –12,988.6 Change in loans to the public 36.6 8,030.7 Change in other assets –9,271.1 1,725.0 Change in liabilities of operating activities Change in deposits and funding from the public 5,297.4 9,287.9 Change in debt securities in issue 621.2 2,036.1 Change in other liabilities 15,916.2 –7,711.8 Cash flow from operating activities 4,433.9 472.5 Investing activities Acquisition of intangible assets –134.5 –79.2 Acquisition of property and equipment – 0.2 Cash flow from investing activities –134.5 –79.0 Financing activities Dividends on issued Additional Tier 1 instruments –65.9 –72.6 Repayment of subordinated liabilities –1,495.1 – Dividends paid –577.2 –288.4 Cash flow from financing activities –2,138.2 –361.0 Net cash flow for the period 2,161.2 32.5 Cash and cash equivalents, 30 June 12,395.2 328.4 Cash and cash equivalents are defined as cash and balances at central banks and loans due to credit institutions payable on demand. Cash-flow statement in summary, indirect method – Parent Company 27LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Restricted equity Non-restricted equity Fair value reserve SEK M Share capital Develop- ment Expendi- tures Fund Statutory reserve Additional Tier 1 instru ments1) Fair value reserve Hedge reserve Retained earnings Profit for the period Total Opening balance, 1 January 2025 2,864.6 1,432.1 18.4 2,550.0 –2.8 –55.4 3,990.6 228.2 11,025.7 Profit for the period –103.1 –103.1 Other comprehensive income for the period 35.6 0.8 36.5 Comprehensive income for the period 35.6 0.8 –103.1 –66.7 According to resolution by Annual General Meeting 228.2 –228.2 – Dividends paid –288.4 –288.4 Dividends etc., on Additional Tier 1 instruments –72.7 –72.7 Capitalised internally generated development expenditures –16.5 16.5 – Closing balance, 30 June 2025 2,864.6 1,415.5 18.4 2,550.0 32.8 –54.5 3,874.3 –103.1 10,598.0 Opening balance, 1 July 2025 2,864.6 1,415.5 18.4 2,550.0 32.8 –54.5 3,874.3 –103.1 10,598.0 Profit for the period 863.8 863.8 Other comprehensive income for the period 33.4 4.2 37.6 Comprehensive income for the period 33.4 4.2 863.8 901.4 Group contributions paid –910.0 –910.0 Tax on Group contributions paid 187.5 187.5 Dividends etc., on Additional Tier 1 instruments 300.0 –85.2 214.8 Capitalised internally generated development expenditures –74.0 74.0 – Closing balance, 31 December 2025 2,864.6 1,341.5 18.4 2,850.0 66.2 –50.3 3,140.6 760.6 10,991.6 Opening balance, 1 January 2026 2,864.6 1,341.5 18.4 2,850.0 66.2 –50.3 3,140.6 760.6 10,991.6 Profit for the period 3,245.6 3,245.6 Other comprehensive income for the period 53.1 0.1 53.1 Comprehensive income for the period 53.1 0.1 3,245.6 3,298.8 According to resolution by Annual General Meeting 760.6 –760.6 – Dividends paid –577.2 –577.2 Dividends etc., on Additional Tier 1 instruments –65.9 –65.9 Capitalised internally generated development expenditures –1.1 1.1 – Closing balance, 30 June 2026 2,864.6 1,340.5 18.4 2,850.0 119.3 –50.2 3,259.2 3,245.6 13,647.3 1) The issued Additional Tier 1 instrument is deemed to fulfil the conditions of an equity instrument since: – The instrument, according to the conditions, does not have a set maturity date, meaning that the issuer has an unconditional right to refrain from making repayments. – The issuer of the instrument has full discretion regarding interest payments, that is to say no obligation to pay interest. Statement of changes in equity – Parent Company 28LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Notes – Parent Company All figures in SEK M unless otherwise stated. Comparative figures in parentheses: income-statement items are compared with the immediately preceding quarter, balance-sheet items are compared with the immediately preceding year-end, unless otherwise stated. NOTE 1 ACCOUNTING POLICIES Länsförsäkringar Bank AB (publ) prepares its accounts in accordance with the Swedish Annual Accounts Act for Credit Institutions and Securities Companies (ÅRKL) (1995:1559) and Swedish Financial Supervisory Authority’s regulations and general guidelines (FFFS 2008:25). The company also applies the Swedish Corporate Reporting Board’s recommendation RFR 2 Accounting for Legal Entities and statements issued by the Swedish Corporate Reporting Board. The Parent Company applies the same accounting policies as the Group, except for deviations resulting from the limited possibility to apply IFRS in the Parent Company due to the Annual Accounts Act for Credit Institutions and Securities Companies, the Pension Obligations Vesting Act, and, in certain cases, for tax reasons. The deviations are described in the 2025 Annual Report. CHANGES THAT IMPACTED THE FINANCIAL STATEMENTS IN 2026 No accounting standards, which have been published but not yet applied, came into effect during the period that have a material effect on the company’s financial statements or capital adequacy and large exposures. IFRS 18 Presentation and Disclosure in Financial Statements On 9 April 2024, the IASB published IFRS 18 Presentation and Disclo- sure in Financial Statements that will replace IAS 1 Presentation of Financial Statements on 1 January 2027. The standard has been adopted by the EU. IFRS 18 introduces new requirements for the pre- sentation and disclosure in financial statements, with a particular focus on the income statement and disclosures of management-de- fined performance measures. The standard is not expected to have any financial impact on the com- pany or have any material effect on the presentation of the company’s income statement and balance sheet. The company is conducting a review of the aggregation and disaggregation of financial information in the notes, as well as analysing and assessing which disclosures are management-defined performance measures. In all other respects, the interim report has been prepared in accor- dance with the same accounting policies and calculation methods applied in the 2025 Annual Report. 29LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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NOTE 2 CAPITAL-ADEQUACY ANALYSIS – KEY FIGURES The capital-adequacy analysis was prepared in accordance with FFFS 2008:25. Under this regulation, an institution is to present the disclo- sures stipulated in Article 447 of the Regulation (EU) No 575/2013 on prudential requirements for credit institutions and investment firms (Capital Requirements Regulation). The capital-adequacy analysis is also to include an overview of the total risk exposure amount in accordance with Article 438 d of the Capital Requirements Regulation. The Group’s disclosures on its total own funds requirements and its own funds in accordance with Chapter 8, Section 1 of the Swedish Financial Supervisory Authority’s regulation and general guideline regarding prudential requirements and capital buffers (FFFS 2014:12) are found in the section Capital adequacy on page 6. SEK M 30 Jun 2026 31 Dec 2025 30 Jun 2025 Available own funds (amounts) Common Equity Tier 1 (CET1) capital 9,220.1 6,485.2 6,467.5 Tier 1 capital 12,070.1 9,335.2 9,017.5 Total capital 14,761.6 13,521.8 12,107.4 Risk-weighted exposure amounts Total risk-weighted exposure amount 37,310.7 35,476.4 35,911.8 Total risk exposure pre-floor 37,310.7 35,476.4 35,911.8 Capital ratios (as a percentage of risk-weighted exposure amount) Common Equity Tier 1 ratio (%) 24.7% 18.3% 18.0% Common Equity Tier 1 ratio considering unfloored TREA (%) 24.7% 18.3% 18.0% Tier 1 ratio (%) 32.4% 26.3% 25.1% Tier 1 ratio considering unfloored TREA (%) 32.4% 26.3% 25.1% Total capital ratio (%) 39.6% 38.1% 33.7% Total capital ratio considering unfloored TREA (%) 39.6% 38.1% 33.7% Additional own funds requirements based on SREP (as a percentage of risk-weighted exposure amount) Additional own funds requirements to address risks other than the risk of excessive leverage (%) 2.9% 2.9% 2.9% of which: to be made up of CET1 capital (percentage points) 1.6% 1.6% 1.6% of which: to be made up of Tier 1 capital (percentage points) 2.2% 2.2% 2.2% Total SREP own funds requirements (%) 10.9% 10.9% 10.9% Combined buffer requirement (as a percentage of risk-weighted exposure amount) Capital conservation buffer (%) 2.5% 2.5% 2.5% Conservation buffer due to macro-prudential or systemic risk identified at the level of a Member State (%) 0% 0% 0% Institution specific countercyclical capital buffer (%) 2% 2% 2% Systemic risk buffer (%) 0% 0% 0% Global Systemically Important Institution buffer (%) 0% 0% 0% Other Systemically Important Institution buffer 0% 0% 0% Combined buffer requirement (%) 4.5% 4.5% 4.5% Overall capital requirements (%) 15.4% 15.4% 15.4% CET1 available after meeting the total SREP own funds requirements (%) 18.5% 12.1% 12.0% Leverage ratio Leverage ratio total exposure measure 150,238.9 137,615.6 144,700.8 Leverage ratio (%) 8.0% 6.8% 6.2% Additional own funds requirements to address risks of excessive leverage (as a percentage of leverage ratio total exposure amount) Additional own funds requirements to address risks of excessive leverage (%) 0% 0% 0% of which: to be made up of CET1 capital (percentage points) 0% 0% 0% Total SREP leverage ratio requirements (%) 3% 3% 3% Leverage ratio buffer and overall leverage ratio requirement (as a percentage of total exposure measure) Leverage ratio buffer requirement (%) 0% 0% 0% Overall leverage ratio requirements (%) 3% 3% 3% Liquidity Coverage Ratio (12 months average) Total high-quality liquid assets (HQLA) (Weighted value – average) 64,282.4 62,598.1 57,246.5 Cash outflows – Total weighted value 60,859.5 56,859.2 54,817.0 Cash inflows – Total weighted value 15,024.6 15,130.3 12,269.1 Total net cash outflows (adjusted value) 49,601.8 47,495.7 42,547.9 Liquidity coverage ratio (%) 152.4% 153.9% 160.1% Net Stable Funding Ratio Total available stable funding 210,860.8 201,484.8 200,091.8 Total required stable funding 93,817.2 110,788.7 86,494.8 NSFR ratio (%) 225% 182% 231% 30LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Risk weighted exposure amounts Total own funds requirements SEK M 30 Jun 2026 31 Dec 2025 30 Jun 2025 30 Jun 2026 31 Dec 2025 30 Jun 2025 Credit risk (excluding CCR) 27,722.3 26,260.0 26,241.2 2,217.8 2,100.8 2,099.3 of which: the standardised approach 15,473.2 14,976.8 14,637.0 1,237.9 1,198.1 1,171.0 of which: the foundation IRB (FIRB) approach 3,728.5 3,283.2 3,352.3 298.3 262.7 268.2 of which: the advanced IRB (AIRB) approach 5,175.5 3,347.1 3,448.3 414.0 267.8 275.9 of which: risk exposure amounts according to Article 458 CRR 3,345.1 4,652.9 4,803.7 267.6 372.2 384.3 Counterparty credit risk – CCR 277.8 485.9 1,624.2 22.2 38.9 129.9 of which: the standardised approach 258.4 470.4 550.1 20.7 37.6 44.0 of which: exposures to a CCP 19.3 15.4 20.0 1.5 1.2 1.6 Credit valuation adjustment – CVA 583.6 684.1 1,054.1 46.7 54.7 84.3 of which: the basic approach (R–BA) 583.6 684.1 1,054.1 46.7 54.7 84.3 Of which: other CCR – – – – – – Foreign-currency risk – – – – – – Operational risk 8,726.9 8,046.4 8,046.4 698.2 643.7 643.7 Output floor applied (%) 55% 50% 50% – – – Floor adjustment (before application of transitional cap) 0 0 0 – – – Floor adjustment (after application of transitional cap) 0 0 0 – – – Total 37,310.7 35,476.4 35,911.8 2,984.9 2,838.1 2,872.9 NOTE 3 DIVIDENDS RECEIVED During the period, Bank AB received dividends totalling SEK 3,237.2 M from its subsidiaries Länsförsäkringar Hypotek AB, Länsförsäkringar Fondförvaltning AB and Länsförsäkringar Finans AB. Other dividends of SEK 0.1 M derive from other holdings of business-related shares. NOTE 4 LOANS TO THE PUBLIC A condition for full payment of the regional insurance companies’ remuneration by Länsförsäkringar Bank AB is that the loans generated by each regional insurance company for Länsförsäkringar Bank AB are of high quality. If this is not the case, up to 80% of any credit losses are off-set against the accrued remuneration to the regional insurance companies. This model for settlement of credit losses is kept separate and is taken into consideration when the provisions are established. On 30 June 2026, the total credit reserve requirement for loan receiv- ables amounted to SEK 72.5 M (80.0), of which Länsförsäkringar Bank’s recognised loss allowance for loan receivables accounted for SEK 14.8 M (16.3) and the remainder of SEK 57.7 M (63.7) was settled against the remuneration to the regional insurance companies. NOTE 5 LOANS TO CREDIT INSTITUTIONS On 30 June 2026, loans to credit institutions amounted to SEK 127,807.9 M (116,806.9) and were included in Stage 1. Loss allow- ance for credit losses amounted to SEK 26.5 M (22.8). SEK 648.6 M (724.7) of the item pertains to the Riksbank’s right to require inter- est-free deposits. NOTE 6 DISCLOSURES ON RELATED PARTIES Significant agreements for Länsförsäkringar Bank AB are primarily out- sourcing agreements with the 23 regional insurance companies and outsourcing agreements with Länsförsäkringar AB regarding develop- ment, service, finance and IT. Normal business transactions took place between Group companies as part of the outsourced operations. . NOTE 7 PLEDGED ASSETS, CONTINGENT LIABILITIES AND COMMITMENTS SEK M 30 Jun 2026 31 Dec 2025 30 Jun 2025 For own liabilities, pledged assets 9,625.2 9,074.4 9,462.0 Contingent liabilities 48.7 45.0 40.8 Commitments1) 55,335.0 64,663.7 69,086.9 1) Commitments to related parties amounted to SEK 49,277.7 M (61,118.1) for companies within the Bank Group, SEK 20.0 M (20.0) for Länsförsäkringar AB, SEK 1.0 M (1.0) for the regional insurance companies and SEK 6.4 M (6.4) for other related parties. Contingent liabilities comprise contingent liabilities, which in turn com- prise guarantees. Assumptions comprise approved but not disbursed loans and approved but unutilised overdraft facilities and card loans. NOTE 8 SIGNIFICANT EVENTS AFTER THE END OF THE REPORTING PERIOD There has been no significant events after the end of the period. NOTE 2 CAPITAL–ADEQUACY ANALYSIS – OVERVIEW OF RISK WEIGHTED EXPOSURE AMOUNTS 31LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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This interim report is a translation of the Swedish interim report that has been reviewed by the company´s auditors. The Board of Directors and President affirm that this interim report provides a true and fair view of the company’s and the Group’s operations, financial position and earnings and describes the significant risks and uncertainties to which the company and the companies included in the Group are exposed. Stockholm, 22 July 2026 Björn Dalemo Chairman Maria Engholm Board member Agnes Fabricius Board member Emil Källström Board member Niklas Larsson Board member Ricard Robbstål Board member Lars Rådström Board member Örjan Söderberg Board member Lisa-Maria Carensiö Employee representative Joar Lind Employee representative Sara Davidgård President 32LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Review report To the Board of Directors of Länsförsäkringar Bank AB (publ) Corp. id. 516401-9878 Introduction We have reviewed the condensed interim financial information (interim report) of Länsförsäkringar Bank AB (publ) as of 30 June 2026 and the six-month period then ended. The Board of Directors and the Managing Director are responsible for the preparation and presentation of this interim report in accor- dance with IAS 34 and the Annual Accounts Act for Credit Institutions and Securities Companies. Our responsibility is to express a conclusion on this interim report based on our review. Scope of review We conducted our review in accordance with International Standard on Review Engagements ISRE 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Inter- national Standards on Auditing and other generally accepted auditing practices and consequently does not enable us to obtain assurance that we would become aware of all signifi- cant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, for the Group in accordance with IAS 34 and the Annual Accounts Act for Credit Institutions and Secu- rities Companies, and for the Parent Company in accordance with the Annual Accounts Act for Credit Institutions and Secu- rities Companies. Stockholm, 22 July 2026 Deloitte AB Patrick Honeth Authorised Public Accountant 33LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Definitions Glossary Return on total assets Profit for the year, after tax, in relation to average total assets. Own funds Own funds comprises the sum of Tier 1 capital and Tier 2 capital, less items indicated in the capital adequacy rules. Own funds in relation to capital requirements. Credit-impaired loan receivables Loan receivables that have fallen due, have defaulted on issue or acquisition and thus are in stage 3 of the rules on expected credit losses under IFRS 9. Common Equity Tier 1 capital Common Equity Tier 1 capital comprises equity less intangible assets, goodwill, prudent valuation, investments in financial companies and IRB deficit. Common Equity Tier 1 capital ratio Common Equity Tier 1 capital in relation to the total risk expo- sure amount. Liquidity Coverage ratio Qualitative liquid assets (12-month average) in relation to their net cash outflow measured over a period of 30 days. Loan receivables Comprises loans to the public and loans to credit institutions. Tier 1 capital The sum of Common Equity Tier 1 capital and Additional Tier 1 instruments. Tier 1 ratio Tier 1 capital in relation to the total risk exposure amount. Risk Exposure Amount (REA) The Risk Exposure Amount comprises assets in the balance sheet and off-balance sheet commitments valued in accor- dance with credit risk, market risk, operational risk and credit valuation adjustment risk in accordance with the capital ade- quacy rules. Fixed-interest period The agreed period during which the interest rate on an asset or liability is fixed. Tier 2 capital Primarily comprises fixed-term subordinated debt. Total capital ratio Total own funds in relation to the total risk exposure amount. Net Stable Funding Ratio Available stable funding in relation to the assets that require stable funding over one year. Alternative performance measures The European Securities and Markets Authority’s (ESMA) Guidelines on Alternative Performance Measures came into effect on 3 July 2016. In accordance with these guidelines, disclosures on financial performance measures that are not defined by IFRS have been provided. Investment margin and return on equity show the organisation’s earnings in relation to various investment measures. The share of credit-impaired loan receivables, credit losses and performance measures concerning loss allowance are presented to provide an under- standing of lending, collateral and credit risk. The common factor for all of the alternative performance measures is that they describe the development of the operations and aim to improve comparability between different periods. The mea- sures may differ from similar performance measures pre- sented by other organisations. Share of credit-impaired loan receivables, gross Credit-impaired loan receivables (stage 3) before loss allow- ance in relation to loans to the public and credit institutions before loss allowance. Credit loss level Credit losses, net, for loan receivables in relation to loans to the public and credit institutions after loss allowance. Investment margin Net interest income in relation to average total assets. Reserve ratio for loan receivables Recognised loss allowance for loan receivables in relation to loan receivables before loss allowance. Return on equity Operating profit less standard tax in relation to average equity, adjusted for items in equity recognised in other comprehensive income and for Additional Tier 1 Capital loans. 34LÄNSFÖRSÄKRINGAR BANK INTERIM REPORT JANUARY—JUNE 2026
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Financial calendar Interim report January–September 2026 for Länsförsäkringar Bank ...............................................................................23 October 2026 Year-end report 2026 for Länsförsäkringar Bank ........................................................................................................................... 11 February 2027 Year-end report 2026 for Länsförsäkringar Hypotek ................................................................................................................... 11 February 2027 Annual reports 2026 to be published ..................................................................................................Week of 22–26 March (25 March) 2027 Interim report January–March 2027 for Länsförsäkringar Bank ...................................................................................................26 April 2027 Interim report January–June 2027 for Länsförsäkringar Bank ........................................................................................................22 July 2027 Interim report January–June 2027 for Länsförsäkringar Hypotek ................................................................................................22 July 2027 This report contains such information that Länsförsäkringar Bank AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on 22 July at 12:00 p.m. CEST. Länsförsäkringar AB in collaboration with Hallvarsson & Halvarsson AB LF.se FOR FURTHER INFORMATION, PLEASE CONTACT: Sara Davidgård President Länsförsäkringar Bank AB sara.davidgard@lansforsakringar.se Martin Rydin CFO Länsförsäkringar Bank AB martin.rydin@lansforsakringar.se +46 (0)73-964 28 23 Andreas Larsson Head of Investor Relations Länsförsäkringar Bank AB andreas.larsson@lansforsakringar.se +46 (0)720-84 36 34 Länsförsäkringar Bank AB (publ), Corp. Reg. No. 516401-9878 Street address: Tegeluddsvägen 11–13 Postal address: SE-106 50 Stockholm Telephone: +46 (0)8-588 400 00