SEK: Record-high lending volumes in the first six months

Continued very strong demand for long-term financing from the Swedish
export industry has resulted in record-high lending volumes for SEK
in the first half of the year. New lending amounted Skr 58.3 billion
during the period, and SEK is now the single most important source of
financing for Swedish export credits. SEK's earnings benefited
greatly from the high lending volumes and its successful funding
operations.

  * The volume of new customer financing was Skr 58.3 billion (30.8)
  * The volume of outstanding offers amounted to Skr 72.5 billion
    (27.4 billion at the end of 2008)
  * New borrowing amounted to Skr 48.4 billion (51.8)
  * Operating profit (IFRS) for the first half of the year, including
    impairments, was Skr 1,355.8 million (413.3)
  * Adjusted operating profit (Core Earnings) for the first quarter,
    including impairments, was Skr 918.0 million (381.2)

SEK's volume of new customer financing for the first half of the year
was very high, amounting to Skr 58.3 billion, which is SEK's highest
ever half-year figure and an increase of Skr 27.5 billion on the
first half of 2008. This large rise in volumes is primarily due to
the significant increase in volumes of export credits and lending to
Swedish exporters and their customers. The volume of offers also
increased significantly, amounting to Skr 72.5 billion, compared with
Skr 27.4 billion at the end of 2008.

The high lending volumes and successful borrowing also resulted in
very strong earnings for SEK for the first half of the year.
Operating profit (IFRS) amounted to Skr 1,355.8 million, a marked
increase on the same period in 2008. Adjusted operating profit, core
earnings, amounted to Skr 918.0 million.

"The Swedish export industry continues to show a great need for
long-term financing solutions, which is clearly demonstrated by our
high volumes of deals and offers. The increased volumes also show
that the export industry needs a stable and reliable financial
institution like SEK," said SEK President Peter Yngwe.

SEK's funding operations have been successful during the period. The
volume of new borrowing amounted to Skr 48.4 billion, despite the
continued turmoil and lack of liquidity in the capital markets.

For more information, please contact Johan Winlund, Head of
Communications at SEK, +46 8 613 84 88.


The full report with tables can be downloaded from the following
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