Financial results for 2020

16/02/2021 - Press release

The financial results for 2020 were approved by the board of directors in Eksportfinans on February 16, 2021.

Net interest income was NOK 138 million for 2020, compared to NOK 161 million for 2019. The decrease was mainly due to a reduced loan portfolio, combined with lower interest rate levels in Norwegian kroner (NIBOR).  

Profit for the year 2020 was NOK 44 million, compared to NOK 106 million for 2019. The decrease was mainly due to reduced net interest income and reduced net other operating income.

Total comprehensive income was negative NOK 14 million for 2020, compared to NOK 45 million for 2019. The decrease was mainly due to lower profits as explained above.

Total assets amounted to NOK 13.8 billion at December 31, 2020, compared to NOK 14.6 billion at December 31, 2019. The reduction was due to scheduled repayments of debt.

The core capital ratio was 124.5 percent at December 31, 2020, compared to 125.5 percent at December 31, 2019. The board has decided to propose a dividend of NOK 44 million for 2020.

At year-end 2020, Eksportfinans had liquidity reserves totaling NOK 9.0 billion.

Eksportfinans’ financial reports and other information are available on www.eksportfinans.com.

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