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Interim Report January-June 2017: SWEDISH EXPORTS ARE STRONG

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Swedish exporters have experienced high activity levels with increased exports in the first half of the year. SEK’s efforts to broaden the scope of business with existing customers and to attract new customers generated good results in the first half of the year. Year-on-year, new lending was higher in Q2 and amounted to Skr 31.2 billion (Q2 2016: Skr 15.3 billion). In total, new lending in the first half of the year amounted to Skr 48.7 billion (1H16: Skr 36.4 billion).

“New lending is allocated between various forms of financing solutions and between new and existing clients, which is in line with SEK’s strategy of broadening its operations. SEK completed a number of larger export credits in the second quarter. The choice of Swedish exporters to utilize export credits despite a favorable capital market underlines the competitiveness of the Swedish export credit system,” says SEK’s CEO Catrin Fransson.

In the first half of 2017, SEK participated in five different delegations. These delegations travelled to Brazil, Colombia, India, Indonesia and China under the common themes of environmental technology and the development of sustainable cities.

“Sweden is in the forefront in a number of key areas in sustainable urban development, and SEK partners with exporters and other organizations in Team Sweden to ensure the competitiveness of Sweden’s offering,” says SEK’s CEO Catrin Fransson.

Net interest income for the first six months was Skr 852 million (1H16: Skr 830 million). The operating profit for the first six months was Skr 486 million (1H16: Skr 461 million).

“SEK remains well placed to assist the Swedish export industry with financial solutions and to thereby strengthen Swedish exporters’ competitiveness,” concludes SEK’s CEO Catrin Fransson.

Financial performance January–June 2017

  • New lending amounted to Skr 48.7 billion (1H16: Skr 36.4 billion)
  • Net interest income was Skr 852 million (1H16: Skr 830 million)
  • Operating profit totaled Skr 486 million (1H2016: Skr 461 million)
  • Net profit was Skr 371 million (1H16: Skr 360 million)
  • The return on equity amounted to 4.3 percent (1H16: 4.3 percent).
  • The total capital ratio amounted to 21.5 percent at the end of the period (Y/E 2016: 25.1 percent)
  • Earnings per share before and after dilution amounted to Skr 93 (1H16: Skr 90)

For more information, contact:
Petra Könberg, Head of Marketing & Business Development
+46 761 49 83 09

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sek AB Svensk Exportkredit

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