Guarantees at record highs in 2021
EKN's 2021 Annual Report: The guarantee volume (excluding temporary support measures) of SEK 77.1 billion was the second highest ever. Guarantees to Africa reached a record high of SEK 20.8 billion.
The guarantee volume increased 19 per cent from a high level in 2020, to SEK 77.1 billion, the second highest level achieved.
“Swedish exports are performing well, despite stagnating global value chains and other disruptions. Swedish companies are offering innovative, climate-smart solutions that the world needs. Contributing to customer’s financing, offers a strong competitive advantage and EKN’s guarantees are in higher demand than ever before” says Anna-Karin Jatko, Director General of EKN.
Guarantees from EKN reflect a strong demand for Swedish deliveries to global initiatives for solar power, wind power and sustainable transport solutions. Guarantees to Africa reached a new high of SEK 20.8 billion.
“Many Swedish companies are succeeding in emerging markets, for example, in countries that need to expand infrastructure, electricity supply and healthcare. For these transactions, EKN is in particularly high demand,” says Anna-Karin Jatko.
As in previous years, EKN has guaranteed some large export transactions for telecoms operators, the largest of which were to high-income countries in the OECD.
Claims payments declined from last year to SEK 0.8 billion (SEK 1.6 billion). Profit increased to SEK 1.8 billion (SEK 0.2 billion). EKN has a strong financial position, which was further enhanced during a year in which no major claims arose.
2021 in brief (compared with 2020)
- Total guarantee volume: SEK 84 billion (SEK 119.1 billion).
- Regular guarantee volume: SEK 77.1 billion (SEK 64.7 billion).
- Guarantee volume for temporary working capital credit guarantees for large corporates: SEK 6.8 billion (SEK 54.4 billion).
- New transactions: 1,781 (1,896). The decline stemmed partially from the simplified processing of certain guarantee products.
- Number of customers: 480, of which 326 SMEs (494 customers, of which 349 SMEs)
- Claims payments: SEK 0.8 billion (SEK 1.6 billion).