Year-end report 2015: New customers and considerable new lending

Demand for SEK’s lending increased during the second half and total new lending
for 2015 amounted to Skr 104.6 billion (2014: Skr 57.1 billion). The activity
level during the fourth quarter has been good.
“We see a rising unrest in the capital markets and a general increase in Swedish
exporters’ activity due to improved economic conditions, particularly in Europe.
Another explanation is that we now reach more Swedish companies than ever
before. Since the start of 2015, SEK’s services have also been available to
medium-sized exporters, and we have dedicated separate resources to assist this
group of companies,” says SEK’s CEO Catrin Fransson.
The unusually high volume is due to the signing of the export credit for
Brazil’s purchase of the Gripen fighter aircraft from Saab. This is SEK’s
largest ever lending transaction and comprises a loan from SEK corresponding to
a total of Skr 41.9 billion.
SEK has continued to develop its collaboration with the Swedish Export Credits
Guarantee Board (EKN), and with Swedish and international banks, to reach more
customers with our offering.
“Efforts to promote Swedish exports intensified in the autumn following the
launch of the government’s export strategy and we have increased collaboration
with the various organizations within Team Sweden. A great amibition for the
export strategy initiatives comprises increasing Swedish exports to emerging
countries. Our sustainability efforts is of the outmost importance and we have
extensive experience of operating in complex markets and of setting ethical,
societal and environmental requirements for those transactions in which we
participate. We are continuing the ongoing development of our sustainability
efforts together with other organizations, including EKN and the Swedish
exporters who, like SEK, are extremely ambitious in this area,” says SEK’s CEO
Catrin Fransson.
The financial performance was negatively impacted by impairment of IT
investments, which was not fully compensated by higher net interest revenue.The
after-tax return on equity for the year was 7.2 percent, which exceeds the
owner’s profitability target. SEK has a strong capitalization with a Common
Equity Tier 1 capital (CET1) of 21.6 percent at the end of the year (16.9 at the
end of 2014).
Results full year 2015

  · New lending amounted to Skr 104.6 billion (2014: Skr 57.1 billion).
  · Net interest income totaled Skr 1,662 million (2014: Skr 1,578 million).
  · The operating profit was Skr 1,535 million (2014: Skr 1,629 million).
  · Net profit was Skr 1,187 million (2014: Skr 1,260 million).
  · The return on equity amounted to 7.2 percent (2014: 8.1 percent).
  · Outstanding offers totaled Skr 57.1 billion (2014: Skr 78.4 billion).
  · The Common Equity Tier 1 (CET1) capital was 21.6 percent at the end of the
period (2014: 16.9 percent).

For more information, please read the attached report.
Contact:
Edvard Unsgaard
Head of Communication, + 46-8-613 84 88