Business News

SEK: High business volumes marked the first six months

SOURCE:

AB Svensk Exportkredit

2008-08-15 05:07:00

STOCKHOLM, SWEDEN–(EMWNews – August 15, 2008) –

SEK has successfully completed its mission, to secure access to

financial solutions for the Swedish export industry, during the first

half of the year. Despite the global financial crisis SEK has been

able to continue to offer companies financial solutions which have

resulted in high business volumes and a good result for SEK.


  * Core earnings for the first six months were Skr 381.2 million

    (284.6)

  * Operating profit (IFRS) was Skr 466.3 million (265.6)

  * The volume of new customer financing solutions was Skr 30.8

    billion (27.2)

  * Active new borrowing generated a volume of Skr 51.8 billion

    (71.8)

SEK’s core earnings totalled Skr 381.2 million for the first six

months of the year, versus Skr 284.6 million for the same period in

the previous year. The volume of new customer financing solutions

totalled Skr 30.8 billion, an increase of Skr 3.6 billion on the

first half of 2007. The volume of outstanding and committed

undisbursed credits amounted to Skr 141.3 billion at the end of the

period, compared with Skr 119.6 billion at the end of June 2007.

Work on improving competitive opportunities for Swedish export

companies continues. During the second quarter SEK signed a

cooperation agreement with the Polish environmental protection bank

BOS Bank with the aim of supporting and simplifying opportunities

primarily for small and medium-sized Swedish export companies to

compete on the Polish market. In addition, the Export Loan – which

SEK provides financing for – has taken off in earnest and the volume

of Export Loans granted now totals Skr 140 million.

– We are pleased that we continue to demonstrate that SEK is a stable

and reliable partner for the Swedish export industry. In addition, we

continue to develop our offering, in particular for small and

medium-sized Swedish export companies. The Export Loan, developed

specifically for the small and medium-sized companies, gains in

popularity and our cooperation with the Polish environmental

protection bank BOS Bank will also provide the Swedish companies with

improved competitiveness, says Peter Yngwe, SEK’s CEO.

Despite the market’s low liquidity and turmoil SEK has been active in

its borrowing and new borrowing totalled Skr 51.8 billion during the

first half of the year.

For further information please contact Peter Yngwe, SEK’s CEO, on +46

8 613 83 00, or Johan Winlund, Head of Communications, on +46 8 613

84 88.

The full report with tables can be downloaded from the following

link:

Interim Report January – June 2008 —

http://hugin.info/138134/R/1243847/268056.pdf

Copyright © Hugin AS 2008. All rights reserved.

Jordan Taylor

Jordan Taylor is Sr. Editor & writer from San Diego, CA. With over 20 years and 2650+ articles edited rest assured your Press Release will see traction.

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