Interim report

INTERIM REPORT for the Swedish National Housing Finance Corporation, SBAB 1 January-30 September 1998 ALL FIGURES IN THE INTERIM REPORT REFER TO THE GROUP UNLESS OTHERWISE STATED. RESULT, NET INTEREST INCOME AND LOAN LOSSES Net operating income for the first nine months of 1998 was SEK 431 million, the figure for the corresponding period in 1997 being SEK 371 million. Interest income for the period was somewhat lower at SEK 672 million (714 million). Costs have increased as a result of additional efforts directed towards the retail market and the development of IT. Total costs were SEK 248 million (193 million). The improved result is due to net loan losses for the period being nil (160 million) because it proved possible to lower previous provisions for anticipated losses in many cases. At the same time there has been a limited need to make new provisions, a reflection of the lower interest rate level and the increase in demand in certain housing markets. Problem loans after provisions remain at the low level of SEK 815 million (1 378 million). Government guarantees cover SEK 226 million of the problem loans, which constitute 0.58 per cent (1.04 per cent) of the loan portfolio. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/10/23/19981216BIT00490/bit0001.pdf Hela rapporten