The financial results for the first quarter of 2024 were approved by the board of directors of Eksportfinans on May 7, 2024.
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.
Net interest income was NOK 79 million in the first quarter of 2024, compared to NOK 57 million in the same period of 2023. The increase was mainly due to higher floating interest rates in Norwegian kroner (NIBOR) compared to the same period in 2023.
Total comprehensive income was NOK 21 million in the first quarter of 2024, compared to NOK 54 million in the first quarter of 2023. The fluctuations are mainly due to unrealized gains and losses on Eksportfinans’ own debt.
Total assets amounted to NOK 6.0 billion at March 31, 2024, compared to NOK 7.6 billion at December 31, 2023 and NOK 9.2 billion at March 31, 2023.
The core capital ratio was 208.4 percent at March 31, 2024, compared to 170.2 percent at December 31, 2023 and 186.3 percent at March 31, 2023. In March 2024 the Norwegian FSA accepted the company’s application to disburse NOK 1 billion of its surplus capital to the owners. This distribution did not affect the company's equity, as a corresponding adjustment had been accounted for in the 2023 financial statements. Eksportfinans continues to be overcapitalized, and it remains a key issue to pursue different initiatives and solutions to optimize the capital structure.
On March 31, 2024, Eksportfinans had liquidity reserves totaling NOK 4.2 billion.
Eksportfinans' financial reports are available to the right.
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.