High inflation and high interest rates have resulted in many companies choosing to defer some investments, which affects our new lending for export credits and project financing. However, we are noting increased demand for financing for climate transition initiatives, and continued high activity within corporate lending to Swedish exporters
Magnus Montan, CEO of SEK
The global uncertainty in the operating environment and the shift towards higher interest rates, affects the willingness to invest. At the same time, demand for financing of defense, climate transition and energy projects has increased. In light of that, we remain optimistic about SEK’s business outlook for the remainder of the year.
Magnus Montan, CEO of the Swedish Export Credit Corporation
The high level of new lending mainly stems from high demand for working capital finance from Swedish exporters as well as from two major export credits to foreign customers. We have also witnessed higher lending to clients in the defense industry.”
Magnus Montan, CEO of SEK
We are extremely satisfied with the successful outcome, especially in these turbulent times and running into year-end. The demand, especially from the high-quality accounts was strong, and we are happy to have been able to print EUR 1 billion out of a EUR 1.25 billion orderbook. Also, this underpins our statement of working on building a EUR curve as a strategic move to diversify borrowing and broaden the investor base.
Anna Finnskog, Head of Treasury at SEK
We have noted a significant increase in working capital finance to Swedish exporters, but also in export credits to foreign borrowers. We have, among other things, financed the mineral fertilizer company Cinis Fertilizer’s first production plant for circular and fossil-free potassium sulfate, and in the Ivory Coast, SEK’s social loans enable infrastructure that secure access to water.
Magnus Montan, CEO of SEK
In troubled times, SEK’s role comes to the forefront since borrowers want stable, long-term financiers. Our mission is to secure financing for the Swedish export industry even during times of increased uncertainty and volatile capital markets.
Magnus Montan, CEO of Swedish Export Credit Corporation
Few people have been more important to the Swedish export credit system, than Per has. His skills, experience, enthusiasm and network of contacts have contributed to SEK's success over the years. I, and all colleagues at SEK, are very grateful for his efforts. I would also like to thank Peter for his contribution to SEK during these three years and at the same time welcome Pontus to SEK.
Magnus Montan, CEO of Swedish Export Credit Corporation
We reach a high new lending volume, primarily due to high demand for export credits. We financed projects such as a major maternity clinic at a hospital in Ghana. The financing is a result of Team Sweden’s investments for Engineering, Procurement and Construction (EPC) transactions, which in this case, led to some 40 Swedish exporters being contracted.
Magnus Montan, CEO of SEK
SEK plays an important role for Swedish exports, jobs in industry and the global climate transition. Jacobsen has a solid financial background and experience that suits the business very well.
Petter Thorwaldsson, Minister for Business, Industry and Innovation
SEK’s financing of international projects is creating new business and export opportunities for Swedish companies. Global demand for sustainable solutions is extensive which provides healthy prerequisites for Sweden as a world leader in innovative and climate-smart solutions.
Magnus Montan, CEO of the Swedish Export Credit Corporation
It is extremely inspiring to help with SEK’s task of strengthening the competitiveness of Swedish exports and financing the green transition in a responsible manner. My impression is that SEK has come a long way in integrating sustainability in its business, and I look forward to joining the team tasked with further developing this along with the clients.
Maria Simonson
“An important step in SEK’s endeavor to be a positive force in the transition and achieve the UN Sustainable Development Goals is being able to offer sustainable financing regardless of the type of loan that clients require. SEK has extensive experience of financing of renewable energy and sustainable infrastructure on an international scale.”
Magnus Montan, CEO of the Swedish Export Credit Corporation
We are proud to be one of the safest banks in the world. SEK has a high level of trust and a good reputation among customers and global investors.
Magnus Montan, CEO of SEK
Although Swedish companies have withstood the impact of the pandemic quite well, financing is still needed for them to grow their way out of the crisis. Therefore, we are glad that we can cooperate with SEK to make sure that Swedish companies can benefit from this pan-European measure.
Thomas Östros, EIB Vice-President
This agreement gives us additional capacity to finance companies and strengthen their international competitiveness. Both exporters and their subcontractors can now receive financing from SEK that is guaranteed by the EIB.
Magnus Montan, CEO of SEK
Industry’s need to transition is considerable, and the conditions for investing in climate-positive transition are beneficial. Global growth forecasts are healthy, capital is readily available in the market and the demand for sustainable solutions is tremendous.
Catrin Fransson, CEO of SEK
The transaction is fully aligned with our ambition of financing the green transition in Sweden. We have extensive experience of international renewable energy financing, which often requires long-term financing together with insight to be able to manage project risks. We are now leveraging this knowledge for projects in Sweden.
Birgitta Lindström Kruk, Head of Export and Project Finance at Swedish Export Credit Corporation
We were looking for someone with a strong business focus and an extensive experience in the financial sector, who can continue to strengthen Swedish export companies. Magnus is a strong and experienced manager with a proven ability to engage and inspire people and in developing and transforming businesses.
Lars Linder-Aronson, Chairman of SEK’s Board of Directors
SEK’s clear mission to strengthen the Swedish export industry is important and contributes to employment and growth. With the company’s strong reputation and competent employees, I look forward to contribute to the continued success of the Swedish export industry and to make SEK’s products available for more Swedish companies.
Magnus Montan
SEK’s mission to ensure access to finance for the Swedish export industry rises to prominence in a crisis and this time is no exception.
Catrin Fransson, CEO of SEK
The high level of lending during the year resulted in third-quarter net interest income being the highest to date for SEK.
Catrin Fransson, CEO of Swedish Export Credit Corporation
Never before in the history of SEK has the company had so many clients.
Catrin Fransson, CEO at SEK
Our ambition is to continue to grow the client base by honing SEK’s offerings based on identified client needs.
Catrin Fransson, CEO at SEK
I am very happy that Peter Svensén has chosen to join us. Risk management is a cornerstone in SEK’s business and Peter has a solid experience working with all risk classes but in particular credit risks, which is positive as SEK is growing with new clients within the segment of Mid Corporates.
Catrin Fransson, CEO of SEK
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