Press release, January 30, 2020 SEK’s year-end report 2019: SEK attracts more customers
The Swedish economy slowed in 2019 and we are now seeing the tangible effects of
an economic downturn on the export industry. Despite the above, SEK has noted a
marked increase in clients and higher demand for financing. Several new offers were
launched during the year with a focus on green financing.
Despite the economic slowdown, SEK has been successful in attracting new clients. The
number of clients increased 20 percent in 2019, a considerably increase compared to
2018. SEK has made a successful transition during the year, where we broadened our
target group and addressed more companies than before, especially medium-sized
“We have been significantly more active in our customer processing, both existing
and new ones. With an increased customer focus, we have improved our work with
developing offers that meet our customers’ needs,” says Catrin Fransson, CEO of SEK.
In the last quarter of the year, SEK launched two new product offers, green loans
and financing for the transition to fossil-free energy.
SEK has offered green financing since 2015 and is now taking the next step by
introducing a green interest-rate curve for all loan products. In addition to a lower
interest rate, the borrower receives a green stamp which shows that the company
contributes to the UN Global Sustainability Goals.
The second offer pertains to financing investments made by industry to realign
their operations and reduce emissions from fossil fuels. SEK can finance everything
from climate-smart energy solutions to sustainable transportation, including public
transport and maritime transportation.
“SEK aims to be positive force for climate change. We have extensive international
experience of working with renewable energy, which often comprises projects that
need long-term financing together with insight to be able to manage project risks. This
is a major advantage when we support Swedish initiatives in this area,” says Catrin
Fransson, CEO of SEK.
Results January–December 2019 (compared with January–December 2018)
• New lending Skr 74.5 billion (2018: Skr 57.0 billion)
• Net interest income Skr 1,717 million (2018: Skr 1,442 million)
• Operating profit Skr 1,304 million (2018: Skr 852 million)
• Net profit Skr 1,027 million (2018: Skr 648 million)
• Return on equity was 5.5 percent (2018: 3.6 percent)
• The total capital ratio amounted to 20.6 percent (12/2018: 20.1 percent)
• Basic and diluted earnings per share Skr 257 (2018: Skr 162)