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12/02-2019 15:52:10: (EKSPFI01) Eksportfinans' financial results for 2018

Net interest income was NOK 133 million for the year 2018, compared to NOK 191
million for the year 2017. The decrease was expected and is mainly due to the
lower level of interest-generating assets.  

Profit for the year 2018 was NOK 71 million, compared to negative NOK 254
million for the year 2017. The difference is mainly due to changed accounting
principles following the implementation of IFRS 9 as of January 1, 2018, and
unrealized losses on Eksportfinans’ own debt in 2017. 

Total comprehensive income was NOK 118 million for the year 2018, compared to
negative NOK 261 million for the year 2017. The fluctuations in these figures
are primarily due to unrealized effects on Eksportfinans’ own debt caused by
changes in credit spreads.  

Total assets amounted to NOK 19.2 billion at December 31, 2018, compared to NOK
22.4 billion at December 31, 2017. The reduction was due to scheduled repayments
of debt.

The core capital ratio was 113.9 percent at December 31, 2018, compared to 94.2
percent at December 31, 2017. At year-end 2018, Eksportfinans had liquidity
reserves totaling NOK 8.0 billion.

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


For further information, please contact: 

Geir Ove Olsen
Chief Executive Officer  
mobile: +47 900 92 326 
e-mail: goo@eksportfinans.no 

Elise Lindbæk
EVP Director of communications 
mobile: +47 905 18 250 
e-mail: el@eksportfinans.no



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 see
www.eksportfinans.

Ekstern link: https://newsweb.oslobors.no/message/469316

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