Bluestep Bank AB (publ) Year-End report 2019
2019 was a successful year, with the highest operating profit ever in Bluestep’s history.
Significant events in 2019
As of 31 December 2019, compared with the same date the previous year
- Operating profit increased by 29.3% and amounted to SEK 275m (SEK 212m). The profit was driven by a continued strong demand for Bluestep’s mortgages and reduced funding costs.
- Lending to the public increased by 11.0% to SEK 16,124m (SEK 14,522m).
- Deposits from the public increased by 9.6% to SEK 11,421m (SEK 10,417m).
- Credit losses remained low, thanks to sound and cautious credit risk assessment, and amounted to SEK 60m (SEK 50m). This is equivalent to a credit loss level of 0.37% (0.35%).
- The Common Equity Tier 1 ratio was 17.1% (17.5%). Bluestep’s long-term target is a Common Equity Tier 1 ratio of at least 16.0%.
- Björn Lander was appointed as CEO in October.
- Bluestep’s notification to set up a branch and conduct mortgage operations in Finland was acknowledged by the Swedish and Finnish Financial Supervisory Authorities.
- Bluestep was assigned a rating of Baa2 with a stable outlook by Moody’s.
- Bluestep’s application to issue covered bonds was approved by the Swedish Financial Supervisory Authority (pursuant to the Covered Bonds Issuance Act (SFS 2003:1223)).
The Year-End report 2019 can be downloaded from: https://www.bluestepbank.com/investor-relations/financial-reports/
For further information, please contact:
Johanna Clason, CFO
+46 8 501 004 00
Louise Bergström, Head of Investor Relations
+46 73 142 74 66
Bluestep Bank AB (publ) is publishing this information which is obliged to be publicly available pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above at 08:00 CET on 28 February 2020.