SBAB’s (LSE:A013) board has approved a new strategy to focus on, and develop, the core business areas of mortgages and residential financing.
The mortgage market is marked by increasingly tough competition and this presents a challenge to niche players, such as SBAB, regarding increasing market share. At the same time, regulatory requirements for bank products have become more stringent. Given this background, a strategic review was carried out that pointed to the potential in SBAB’s mortgage business, assuming more efficient operations and increased focus on mortgage offers, customer communication and sales.
SBAB has therefore decided to put plans for a broadening of product offers on hold, and to focus on strengthening the mortgage offers and create growth within residential financing to private individuals, property developers and tenant-owner associations. SBAB’s savings offer continues to be an important part of the business.
“SBAB enjoys a fantastic position with a strong brand and many satisfied customers,” says Klas Danielsson, CEO of SBAB. “We will now work in a more focused way in order to further strengthen our customer offers and attract many more satisfied customers. I look forward to developing SBAB in that direction.”
SBAB offers savings and loans services to private individuals, tenant-owner associations and companies. SBAB was founded in 1985 and is owned by the Swedish state. SBAB has about 350,000 customers and some 480 employees. Read more at www.sbab.se/english, www.twitter.com/sbabbank, www.facebook.com/sbabbank.
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Klas Danielsson, CEO
telephone: +46 708 74 45 74
Bo Magnusson, Chairman of the Board
telephone +46 703 32 37 07