Net interest income amounted to Skr 710 million (3M24: Skr 770 million). Net income amounted to Skr 458 million (3M24: Skr 171 million). After-tax return on equity, amounted to 7.6 percent (3M24: 3.0 percent). SEK’s total lending portfolio decreased by 5 percent compared to year-end 2024, partly an effect of the Swedish krona strengthening against both the euro and the U.S. dollar. The strengthening of the Swedish krona affects the value of both SEK’s assets and its liabilities in foreign currency. Exchange rate fluctuations have also had a positive impact on capitalization, while net interest income has been negatively affected by lower market interest rates.

SEK’s Annual General Meeting resolved to distribute almost Skr 1.7 billion for 2024 to the owner, the Swedish state – a clear indicator of SEK’s stable financial position and contribution to the Swedish economy.

As part of the company’s strategic approach, SEK has created two new primary functions – Client Relationship Management and Sustainability, and Global Trade and Export Finance – to allow clearer integration of sustainability into operations and to strengthen our global export and project financing offering.

“We have welcomed two Swedish export companies as new customers during the period, both of which are active in the renewable energy sector, and have continued to develop our offering to both new and existing customers. This is part of our clear strategic direction to make the Swedish export credit system available to more customers,” says Magnus Montan, CEO of SEK.

The current geopolitical situation affects many of SEK’s customers. Threats of trade tariffs have created uncertainty in the market and led to several companies delaying investment decisions. At the same time, there is an increased focus on security and defense in Europe where the Swedish defense industry plays a significant role.

Results January–March 2025 (compared with January–March 2024)

• Net interest income Skr 710 million (3M24: Skr 770 million)
• Operating profit Skr 577 million (3M24: Skr 216 million)
• Net profit Skr 458 million (3M24: Skr 171 million)
• Lending portfolio growth -5.5 percent (3M24: 0.1 percent)
• New credit and guarantee commitments Skr 12.0 billion (3M24: Skr 14.1 billion)
• Basic and diluted earnings per share Skr 115 (3M24: Skr 43)
• After-tax return on equity 7.6 percent (3M24: 3.0 percent)
• Total capital ratio 24.7 percent (year-end 2024: 22.2 percent)

For more information, please contact:

Katarina Daniels, Head of Communications, Tel: +46 72 080 68 85
Susanna Rystedt, acting Chief Financial Officer, Tel: +46 70 644 11 05