STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
AB Svensk Exportkredit (LSE:88LX) (CSE:SEKBRIC14):
SEK was extremely active during the year, assisting Swedish exporters with long term financing totaling Skr 55.7 billion (56.2). End-customer finance to Swedish exporters’ customers rose slightly on the previous year, amounting to Skr 39.0 billion (38.7), while the total volume of finance provided directly to Swedish exporters was Skr 16.7 billion (17.6).
These high volumes are due to a number of factors. First, many buyers of Swedish exporters’ products and services have a significant need to secure financing from SEK. Second, there is growing interest for end-customer finance, with buyers being offered the opportunity to have their purchase financed in one of the many currencies offered by SEK. Third, this high demand has also been boosted by the companies’ need to finance working capital.
“These strong volumes show that SEK is providing a high level of new lending to the Swedish export sector and that SEK's role as a complement to banks, supporting exporters through financing, remains vital for export sales. Key to achieving these high volumes has been and continues to be our cooperation with other financial institutions,” said SEK President Peter Yngwe.
- New lending to and for Swedish exporters was Skr 55.7 billion (56.2)
- Operating profit amounted to Skr 1,408.1 million (824.4) and operating profit excluding unrealized changes in fair value amounted to Skr 1,668.6 million (1,652.6). The operating result has mainly been affected by financial transactions such as early redemption of subordinated debt and unrealized changes in fair value related to credit spread on own debt.
- Return on equity after tax was 7.4 percent (5.0)
- The total volume of offers for export credits amounted to Skr 65.5 billion (59.5)
- The Core Tier-1 capital adequacy ratio was 19.5 percent (19.8) at year-end
- The Board of Directors has decided to propose to the annual general meeting that a regular dividend of Skr 327.0 million be paid, which corresponds to 30 percent of net profit after tax
Read the full year-end report here: http://mb.cision.com/Main/5895/9528628/204718.pdf
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