Interim Report 3 2017: High new lending for SEK
Swedish exports are strong and the positive trend was also reflected in SEK’s lending. New lending for the first nine months of the year was higher than in the corresponding period last year at Skr 77.8 billion (9M16: Skr 45.2 billion). New lending for the third quarter of 2017 amounted to Skr 29.1 billion (3Q16: Skr 8.8 billion).
“The high volume of new lending was due to a number of large export credits, and high demand in SEK’s various product areas from different parts of the Swedish export industry”, says SEK’s CEO Catrin Fransson.
Net interest revenues was stable during the first nine months of the year at Skr 1,278 million (9M16: Skr 1,290 million). Net interest revenues for the first nine months of the year was affected negatively by a higher resolution fee of Skr 145 million (9M16: Skr 74 million).
“SEK has strong liquidity and capitalization and remains well placed to assist the Swedish export industry with financial solutions and thereby strengthen Swedish exporters’ competitiveness”, says SEK’s CEO Catrin Fransson.
Operating profit for the first nine months of the year was Skr 666 million (9M16: Skr 789 million). Net results of financial transactions had a negative impact on profit of Skr 143 million (9M16: negative Skr 50 million) due to unrealized changes in market value.
Financial performance January–September 2017
• New lending amounted to Skr 77.8 billion (9M16: Skr 45.2 billion).
• Net interest revenues was Skr 1,290 million (9M16: Skr 1,278 million).
• Operating profit was Skr 666 million (9M16: Skr 789 million).
• Net profit was Skr 509 million (9M16: Skr 614 million)
• The return on equity amounted to 3.9 percent (Year-end 2015: 4.8 percent).
• The total capital ratio was 21.1 percent at the end of the period (Year-end 2016: 25.1
percent).
• Earnings per share before and after dilution amounted to Skr 128 (9M16: Skr 154)
Petra Könberg, Head of Marketing & Business Development
+46-8-613 83 09
About SEK
SEK’s mission is to ensure access to financial solutions for the Swedish export industry on commercial and sustainable terms. SEK has a complementary role in the market, which means we act as a complement to bank and capital market financing for exporters wanting a range of financing sources. SEK’s vision is to strengthen the competitiveness of Swedish exporters, which helps create employment and sustainable growth in Sweden.
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