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2018-10-23

AB Svensk Exportkredit: Interim Report January-September 2018: Exporters have good access to funding

The global economy continues to trend favorably, although the growth
is slowing down. Exporters hold strong financial positions and their
access to funding through the bank and capital markets remains
favorable. SEK's efforts to attract new clients were successful
during the year. The focus on medium-sized companies has been the
primary driver generating new businesses.

New lending for the first nine months of the year, was lower than in
the prior year period at Skr 39.3 billion.

"Lower new lending rates are partly due to exporters' ability to
finance themselves in the banking and capital markets" says Catrin
Fransson CEO at SEK.

Year-on-year, net interest income in the first nine months declined to
Skr 1,064 million. Net interest income was negatively impacted
including a higher resolution fee and higher borrowing costs in the
beginning of the year.

Operating profit for the first nine months of the year was down
slightly year-on-year at Skr 597 million.

Over the past nine months, SEK has deepened its partnerships with
other export promoters in the Swedish government's Team Sweden
initiative. This applies mainly to regional export collaboration - at
both national and regional levels.

"We have a very good collaboration with actors such as Almi, Business
Sweden and EKN. This gives us increased visibility and thus generates
greater opportunities to offer financing to Sweden's export industry"
says Catrin Fransson.

Financial performance Jan-Sept 2018 (Compared to Jan-Sept 2017)
· New lending amounted to Skr 39.3 billion (9M17: Skr 77.8 billion)
· Net interest income was Skr 1 064 million (9M17: Skr 1 278 million)
· Operating profit was Skr 597 million (9M17: Skr 666 million)
· Net profit was Skr 454 million (9M17: Skr 509 million)
· The return on equity amounted to 3.4 percent (9M17: 3.9 percent)
· Earnings per share before and after dilution amounted to Skr 114
(9M17: Skr 128)

· The total capital ratio was 20.1 percent at the end of the period
(year-end 2017: 23.0 percent

Contact

Catharina Henriksson, Head of Press and Public Affairs
+46 76-677 59 09
catharina.henriksson@sek.se

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.

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http://news.cision.com/se/ab-svensk-exportkredit/r/interim-report-januar...
http://mb.cision.com/Main/5895/2652074/931448.pdf
http://mb.cision.com/Public/5895/2652074/88e95fdbfdec7148.pdf

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