SEK Interim Report 2 2015: Well prepared for new lending

SEK´s new lending to Swedish exporters and their customers in the first six
months of 2015 totaled Skr 24.7 billion (1H14: 29.4 billion), of which end
-customer finance accounted for Skr 18.9 billion (1H14: 17.5 billion) and
corporate lending Skr 5.8 billion (1H14: 11.9 billion). The lower volumes of
corporate lending depends on good access to financing through the market for
Swedish exporters.
-          The Swedish companies had good access to funding in the first half of
the year. We carried out numerous large and small transactions that are
important to the Swedish export economy, demonstrating our vital complementary
role in the market, said SEK's CEO Catrin Fransson.

The second quarter saw our first green bond issuance; a USD 500 million bond
with a maturity of five years. Our green bond framework incorporates a measure
of the carbon dioxide reduction in the projects that are financed, providing
investors with a tool to evaluate the emissions reductions resulting from their
investments. Despite market concerns, the bond was well received by investors.

The Swedish corporate sector is well positioned to increase exports. This is
reflected in our own contact with businesses and our latest Export Credit Trends
Survey, which was published in early June.

-          After the Greek crisis in recent weeks has created uncertainty, we
have seen trends that customers are making inquiries to us for funding that
likely would have otherwise been implemented in the capital market, said SEK's
CEO Catrin Fransson.

The Common Equity Tier 1 capital ratio is higher and was 20.7 percent at the end
of the period (16.9 percent at year-end 2014). Our readiness to fulfill our
mission to ensure access to financial solutions for the Swedish export industry
on commercial and sustainable terms remains high.

January-June 2015

  · New lending amounted to Skr 24.7 billion (1H14: Skr 29.4 billion)
  · Net interest revenues amounted to Skr 818 million (1H14: Skr 720 million)
  · Operating profit amounted to Skr 697 million (1H14: Skr 836 million)
  · Net profit amounted to Skr 533 million (1H14: Skr 649 million)
  · Return on equity amounted to 6.6 percent (1H14: 8.5 percent)
  · The outstanding volume of offers for loans at the end of the period amounted
to Skr 92.2 billion (Skr 78.4 billion at year-end 2014)
  · The Common Equity Tier 1 capital ratio was 20.7 percent at the end of the
period according to CRR (16.9 percent at year-end 2014 according to Basel II)

Read more: www.sek.se and in the report
About SEK

SEK’s mission is to ensure access to financial solutions for the Swedish export
industry on commercial and sustainable terms. SEK has a complementary role in
the market, which means we act as a complement to bank and capital market
financing for exporters wanting a range of financing sources. SEK’s vision is to
strengthen the competitiveness of Swedish exporters, which helps create
employment and sustainable growth in Sweden.