The financial results for 2019 were approved by the board of directors in Eksportfinans on February 11, 2019.
Net interest income was NOK 161 million for the year 2019, compared to NOK 133 million for 2018. The increase was mainly due to higher interest rate levels in Norwegian kroner (NIBOR).
Profit for the year 2019 was NOK 106 million, compared to NOK 71 million for 2018. The increase is mainly due to the higher interest rate levels in Norwegian kroner, and unrealized effects on Eksportfinans’ own investments.
Total comprehensive income was NOK 45 million for 2019, compared to NOK 118 million for 2018. The reduction is primarily due to unrealized losses on Eksportfinans’ own debt.
Total assets amounted to NOK 14.6 billion at December 31, 2019, compared to NOK 19.2 billion at December 31, 2018. The reduction was due to scheduled repayments of debt.
The core capital ratio was 125.5 percent at December 31, 2019, compared to 113.9 percent at December 31, 2018. The board has decided to propose a dividend of NOK 106 million for 2019.
At year-end 2019, Eksportfinans had liquidity reserves totaling NOK 6.3 billion.
Facts about Eksportfinans ASA
Eksportfinans manages a portfolio of loans to the Norwegian export industry and foreign buyers of Norwegian capital goods. The company has not granted new loans since the government established a fully state owned entity responsible for new officially supported export loans in 2012. Eksportfinans’ loans are guaranteed by GIEK (The Norwegian Export Credit Guarantee Agency) and/or banks. The company also manages a portfolio of international securities. The business is funded through bonds and commercial paper issued in the international capital markets. Eksportfinans was established in 1962 and is owned by banks operating in Norway and the Ministry of Trade, Industry and Fisheries on behalf of the Norwegian government. For more information about Eksportfinans, please refer to www.eksportfinans.com