High demand for financing but few completed deals

(Thomson Reuters ONE) -


Demand among the Swedish export industry for long-term financing from SEK was
high during the first quarter of 2011 but the number of completed deals was
fewer than expected. The volume of offers for credits was high, indicating that
SEK's volume of new lending for Swedish exports could increase.  Earnings were
strong and increased by 64 percent during the period.

* Operating profit (IFRS) for the first quarter was Skr 458.0 million (279.2)
* Adjusted operating profit (Core Earnings) for the first quarter was Skr
333.9 million (318.7)
* The volume of new customer financing solutions was Skr 5.9 billion (14.1)
* The outstanding volume of offers for credits was Skr 101.0 billion (Skr
86.6 billion at the end of 2010)

Operating profit (IFRS) increased by Skr 178.8 million on the same period in
2010 and amounted to Skr 458.0 million.

Swedish exporters access to short and medium term financing has improved. SEK's
new lending in the first quarter amounted to Skr 5.9 billion, a decrease of Skr
8.2 billion compared with the year-earlier period. The demand for long term
financing was high which was reflected by the volume of offers for credits
amounting to Skr 101.0 billion at the end of the period, an increase of 17
percent compared with the end of 2010. This shows that there is major business
opportunities for Swedish exporters and that SEK's new lending volumes could
increase later in the year.

"It's pleasing that the demand for financing is as high. The business
opportunities for Swedish exporters are good and we have the capacity to offer
competitive financing to more Swedish export deals" said Peter Yngwe, SEK
President.

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




Interim Report Q1 2011:
http://hugin.info/138134/R/1510816/445983.pdf

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(i) the releases contained herein are protected by copyright and
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originality of the information contained therein.

Source: AB Svensk Exportkredit via Thomson Reuters ONE

[HUG#1510816]

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Datum: 29.04.2011 - 13:29 Uhr
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