AB Svensk Exportkredit: SEK's importance to the export industry remains high

| Source: Svensk Exportkredit AB Svensk Exportkredit AB 

The export industry is important for the Swedish economy. SEK's role as a
reliable provider of long-term financing for the Swedish export industry
continues to grow in importance. The uncertainty on the financial markets has
led to a growing number of exporters obtaining financing from SEK. Operating
profit for the year amounted to Skr 1,889.1 million, which was lower than the
previous year due to a realized profit of Skr 2,565 million for the disposal of
shares that year.

  * New lending to, and for, Swedish exporters amounted to Skr 51.2 billion
    (12M10: Skr 48.7 billion).
  * Operating profit amounted to Skr 1,889.1 million (12M10: Skr 3,939.7
    million)  and After-tax return on equity amounted to 11.3 percent (12M10:
    22.2 percent)
  * Operating profit excluding unrealized changes in fair value amounted to Skr
    1,847.6 million (12M10: Skr 4,114.7 million)
  * The outstanding volume of offers for loans at the end of 2011 amounted to
    Skr 64.3 billion (Year-end 2010: Skr 86.6 billion)
  * Common Equity Tier-1 adequacy ratio was 19.6 percent at the end of 2011
    (Year-end 2010: 18.7).
  * The Board of Directors has resolved to propose at the Annual General Meeting
    that a dividend of Skr 420.0 million be paid, which represents 30 percent of
    net profit after tax.

The continued uncertain market conditions have led to increasing difficulties
for exporters to secure long-term financing, resulting in increased demand for
SEK's products. Throughout the year SEK was able to meet its customers'
increased need for long-term financing, and thus, helping to secure a number of
important export deals. Demand for financing increased particularly in the
latter part of 2011.

"We stand highly prepared to take action if the situation on the capital markets
deteriorates further. Together with the Swedish Exports Guarantee Board (EKN)
and the banks, we can ensure that Swedish exporters have access to important
long-term financing," said SEK President Peter Yngwe.

Despite the turbulence on the capital markets in 2011 SEK had good access to all
the key capital markets and new borrowing for the full year amounted to Skr
51.1 billion.

Contact: Johan Winlund, Communications Director at SEK, +46 8 613 84 88.


[HUG#1581099]

Attachments