SOURCE: AB Svensk Exportkredit

October 30, 2009 09:30 ET

SEK: Record lending volumes to the Swedish export industry

STOCKHOLM, SWEDEN--(Marketwire - October 30, 2009) - SEK continues to lend record volumes to the Swedish export industry. The volume of new customer financing for the first nine months of the year amounted to Skr 84.0 billion, which was an increase of Skr 42.8 billion on the same period in 2008. Earnings also increased significantly during the period.

--  The volume of new customer financing solutions was Skr 84.0
    billion (41.2)
--  The outstanding volume of offers for credits was as of
    September 30 Skr 117.0 billion (Skr 27.4 billion at the end of
    2008).
--  New borrowing amounted to Skr 91.0 billion (68.1)
--  Operating profit (IFRS) for the first nine months of the year
    was Skr 1,674.8 million (376.8)
--  Adjusted operating profit (Core Earnings) for the first nine
    months of the year was Skr 1,262.2 million (464.0)
    


SEK's volume of new customer financing for the first nine months of the year reached a record level and was higher than total lending for 2008. This significant increase in volume - due mainly to the substantially higher volume of export credits and lending to Swedish exporters - shows that the Swedish export industry's demand for financing remains strong.

The volume of offers at the end of the period amounted to Skr 117.0 billion, compared with Skr 27.4 billion at the end of 2008.

"Our record volumes show that we play a very important role for Swedish exports. In cooperation with other participants in the financial market, we have been able to meet the industry's financing needs throughout this period of financial turmoil," said SEK's President Peter Yngwe.

SEK's funding operations have been successful during the period. The volume of new borrowing was Skr 91.0 billion, which was Skr 4.8 billion more than the total new borrowing for 2008.

For further information please contact Johan Winlund, Head of Communications at SEK, on +46 (0)8-613 84 88.

The full report including tables can be downloaded from the enclosed link:

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Contact Information

  • For further information please contact:
    Johan Winlund
    Head of Communications at SEK
    +46 (0)8-613 84 88