The first six months in summary:

• 2 (5) new members

• Balance sheet total SEK 221.4 (190.2) billion

• Lending SEK 147.9 (133.7) billion

• Operating result 187.3 (195.1) million  

Comment by Tomas Werngren, President and CEO: 

“Kommuninvest’s stable development continued during the first six months of 2011, with positive growth in both the number of members and lending volume as well as favourable financial results.   

During the period, our funding operations have benefited from the uncertainty in international money markets and the strong demand for interest rate securities issued by low risk entities. In Sweden, the launch of our strategic Swedish Benchmark Programme has been a success. This programme has contributed to improved pricing transparency for municipal sector borrowings in the Swedish market, which we believe is of significant value to municipal borrowers.   

The result has contributed to strengthening of Kommuninvest’s equity, in line with the company’s ambitions. During the period, we have also increased our liquidity reserve. The reinvestment of profits is expected to continue, in order to increase the capitalisation in line with the future expected increase in lending volumes.   Our long-term financial stability and our ability to provide our borrowers with long-term, cost-effective financing solutions continue to be very strong.”    

For further information:

Tomas Werngren, President and CEO          +46 70 645 06 69

Maria Viimne, Deputy President and CEO    +46 70 333 69 02

The complete Interim Report, in Japanese, is available for download here.