Major demand for EKN guarantees
During the first four months of 2018, the volume of EKN's guarantees rose by 51 percent to SEK 19.6 billion compared to the corresponding period last year. The number of new transactions amounted to 814, an increase of seven percent.
"This clearly shows the need of EKN also in times of economic prosperity," says Anna-Karin Jatko, the Director General of EKN.
The volume of issued guarantees for January to April increased by SEK 10.0 billion. One single telecom transaction attributed for nearly nine billion of this increase. This transaction accounted for half the period's guarantee volume. The second largest sector by volume is the transport industry, which accounted for 22 percent.
The trend in the growth of the number of guaranteed transactions is continuing. The number of transactions has now risen consistently for more than three years.
"Our commitment to reaching out to the small and medium-sized companies with the message that EKN can help them with their export business has yielded results. I'm very pleased with that," says Anna-Karin Jatko.
During the period, EKN also signed an agreement with the European Investment Fund (EIF) regarding a SEK 2.0 billion guarantee framework to benefit innovative SMEs.
The demand for securing foreign investment against the risk of political events has been low for many years. An investment guarantee for an investment in Russia was the first such guarantee issued by EKN since 2011.
Guarantees issued for transactions within the CIS, primarily to Russia, increased by SEK 1.3 billion, from SEK 0.5 billion. This rise is primarily due to the increased interest of Swedish companies in the region.
The profit for the period amounts to SEK 480 million.