SEK’s Annual Report 2018: Through a more client-centric approach, SEK strengthens the export industry


During the year, SEK worked successfully to attract new clients, primarily medium-sized companies, which resulted in the company having more clients than ever. Both the strategy and the daily operations are permeated by a larger client focus. SEK has a strong financial position and good liquidity, and remains well placed to finance the Swedish export industry and to thereby strengthen Swedish exporters’ competitiveness.

Client needs in focus as SEK develops its offering
Future growth and employment in Sweden is expected to be driven by small and medium-sized enterprises. Therefore, SEK’s strategy is to expand the offering toward more clients, mainly medium-sized companies, but also to deepen and broaden business with existing clients. Modernization and digitalization will allow us to shorten lead times in our internal processes and to integrate IT more deeply with the business. At the same time, SEK have to retain and attract the right competence to achieve increased client advantage and profitable growth. The number of clients increased in 2018 by 12 percent, which is the highest number in the company’s history.

SEK’s offering within Accounts Receivable Financing performed very well during the year. Increasing numbers of clients are seeking solutions to improve their working capital and to be able to offer their customers better payment terms. SEK’s Customer Finance offering also performed well and the transaction volume increased during the year. These transactions are made in partnership with the clients’ own finance companies and the largest markets in 2018 were the US, Spain and Vietnam. However, the number of transactions in Export Credits and Corporate Lending was down on previous years due to lower demand and a healthy supply of attractive financing in the market.

Outstanding rating in client survey
Every second year, SEK follows up its public policy assignment by conducting a survey. The 2018 client survey rated SEK extremely highly, both in terms of excellent business insight and high competence. 66 percent of clients are of the opinion that the collaboration exceeded their expectations, and 97 percent of clients could recommend SEK to others.

Capital Adequacy and Risk Management Report (Pillar 3)
SEK will publicly disclose information in accordance with specified disclosure requirements once a year in conjunction with the publication of the annual report.
The Pillar 3 report is prepared in accordance with the requirements of EU and Swedish regulations, in particular the CRR (EU Regulation No 575/2013, Part 8), the European Banking Authority’s (EBA’s) implementing technical standards (ITS) with regard to disclosure of own funds (EU Regulation No 1423/2013), and the Swedish Financial Supervisory Authority Finansinspektionen’s regulations on prudential requirements and capital buffers (FFFS 2014:12). Together with the Annual Report, this report provides information on SEK’s material risks as part of the Pillar 3 framework, including details on the SEK’s risk profile and business volumes by customer categories and risk classes, which form the basis for the calculation of the capital requirement.

Download Annual Report 2018

Download Pillar 3 2018

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