On February 13, 2024, the board of directors in Eksportfinans approved the financial results for the financial year 2023.
Net interest income was NOK 269 million for 2023, compared to NOK 148 million for 2022. The increase was due to higher interest rates in Norwegian kroner.
The result for the year 2023 after tax was NOK 320 million, compared to negative NOK 9 million for 2022. The main reasons for the increase are higher interest rates, improved credit markets, gain from repurchasing own debt, reduction of pension commitments and an impairment reversal of a deferred tax asset.
Total comprehensive income was NOK 274 million for 2023, compared to NOK 22 million for 2022.
Total assets amounted to NOK 7.6 billion at December 31, 2023, compared to NOK 9.0 billion at December 31, 2022.
The core capital ratio was 170.2 percent at December 31, 2023, compared to 178.3 percent at December 31, 2022. The ratio is well above regulatory requirements.
The board of directors has decided to propose a dividend of NOK 320 million for 2023.
At year-end 2023, Eksportfinans had short term liquidity reserves totaling NOK 5.8 billion.
Eksportfinans’ strategy to actively manage its existing portfolio of loans, other assets and liabilities, with the overall objective of maintaining company value, remains unchanged in 2024. Following a period of significant reductions in the balance sheet due to maturing loans, debt and investments, the balance sheet will continue to decrease at a slower pace going forward. The company is expecting to generate moderate positive results in the years to come.
Eksportfinans’ financial reports and other information are available onwww.eksportfinans.com 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 Eksfin (Export Finance Norway) 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.no