Financial results for the first-half year of 2020

11/08/2020 - Stock exchange notice

The board of directors in Eksportfinans has on August 11, 2020 approved the financial results for the first half-year of 2020.

 

 

Net interest income was NOK 85 million in the first half-year of 2020, compared to NOK 70 million in the same period of 2019. The increase was mainly due to a higher floating interest rate in Norwegian kroner (NIBOR) and a weakening of the Norwegian krone. 

Profit for the first half-year of 2020 was NOK 23 million, compared to NOK 53 million in the same period of 2019.

Total comprehensive income was NOK 200 million in the first half-year of 2020, compared to NOK 30 million in the corresponding period of 2019. The fluctuations in these figures are primarily due to unrealized effects on Eksportfinans’ own debt.  

Total assets amounted to NOK 14.9 billion at June 30, 2020, compared to NOK 14.8 billion at June 30, 2019.

The core capital adequacy ratio was 132.0 percent at June 30, 2020, compared to 118.2 percent at June 30, 2019. On June 30, 2020, Eksportfinans had a continued robust liquidity situation with liquidity reserves totaling NOK 8.9 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