Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
SEK's role as a reliable partner for the Swedish export industry has become all the more important as the financial crisis has deepened. Demand for SEK's financial solutions has increased strongly, resulting in increased business volumes and strengthened market position.
* Core Earnings for the first nine months of the year, after impairments, totalled Skr 464.0 million (396.0) * Operating profit (IFRS) amounted, after impairments, to Skr 556.8 million (371.8) * Increase in the volume of export credits and lending to the financial sector * The volume of new customer financing solutions was Skr 41.2 billion (37.8) * Successful new borrowing of Skr 68.1 billion (85.1)
Many of the large international banks, which previously accounted for a significant share of long-term financing for the largest Swedish exporters, have now reduced their activities on the Scandinavian market in the wake of the financial crisis. This has meant increasing numbers of companies turning to SEK for long-term financing. The rise in demand has resulted in increased business volumes and strengthened market position for SEK. The volume of new customer financing solutions for the first nine months of the year increased by Skr 3.4 billion. It is primarily export loans and loans to the financial sector that have shown strong growth this year, together totalling Skr 29.9 billion.
- It is satisfying to note that SEK has strengthened its market position. Demand for financing is still high in the Swedish export sector. Now the parties in the Swedish financial market must work together to ensure that Swedish exporters have access to financial solutions, says Peter Yngwe, President of SEK.
SEK's new borrowing amounted to Skr 68.1 billion for the first nine months of the year. The Japanese and U.S. retail bond markets still account for the bulk of SEK's new borrowing.
For more information, please contact Peter Yngwe, President of SEK, +46 8 613 83 00, or Johan Winlund, Head of Communications at SEK, +46 8 613 84 88.
The full report with tables can be downloaded from the following link:
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
