Continued development of the offering
For ICA Bank, 2020 was characterised by continued development of the offering. Income increased and results were strong, albeit at a slightly lower level than in the previous year. This is mainly explained by increased lending volume, a higher margin on deposits and a sustained increase in sales for ICA Insurance. The positive volume effects were offset to some extent by increased credit losses and reduced commission income from bank cards, housing loans already provided and cash management.
About ICA Bank
ICA Bank provides a broad range of banking and insurance services to private and corporate customers. In addition, ICA Bank helps to strengthen customer loyalty to ICA stores, while reducing transaction costs for both the stores and ICA Gruppen.
Operating profit 2020*
*Excluding items affecting comparability