SOURCE: AB Svensk Exportkredit

February 04, 2010 10:37 ET

Record high lending from SEK for the Swedish export industry 2009

STOCKHOLM, SWEDEN--(Marketwire - February 4, 2010) - SEK's efforts for the Swedish export industry during 2009 and the financial crisis was larger than ever. Lending for the Swedish export industry has been record high. Financing from SEK has been essential on numerous occasions for export deals to go ahead.

Â* The volume of new customer financing was the highest ever, at Skr 122.5 billion (64.9) Â* Operating profit (IFRS) was Skr 2,368.6 million (185.2) Â* Core earnings for 2009 amounted to Skr 1,599.3 million (833.9) Â* New borrowing totaled Skr 111.8 billion (86.1) Â* The Board of Directors has resolved to propose the Annual General Meeting that dividend will be made with Skr 518 million (0) SEK's lending for the Swedish export industry in 2009 was at a record high. The volume of new customer financing during the year totaled Skr 122.5 billion, which was an increase of 89 percent on 2008. It was primarily lending for Swedish exporters that grew during the year. No less than 83 percent of SEK's lending during 2009 was provided directly to the corporate sector.

SEK's ability to always offer the Swedish export industry long-term financing, irrespective of conditions in the financial markets, has played an important role in the strengthening the international competitiveness of Swedish companies.

"Compared internationally, the Swedish export industry has coped well with the crisis. Cooperation with other banks and the Swedish Export Credits Guarantee Board has worked very well thereby ensuring that Swedish companies have had access to financing throughout the crisis, providing a very important competitive advantage for Swedish export companies," said SEK President Peter Yngwe. SEK's funding operations have also worked very well during the year, despite the turmoil and lack of liquidity in the world's capital markets. Total new long-term borrowing amounted to Skr 111.8 billion.

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

Year end report 2009: http://hugin.info/138134/R/1380877/340302.pdf

Contact Information

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