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Pressrelease | 2010-10-29

SBAB's operations continue to perform well

"SBAB's operations continue to perform well with a sharp rise in net interest income, robust lending growth, low loan losses and increased deposit volumes. Operating profit, excluding the net result of financial instruments, totalled SEK 859 million (550), up 56%," says SBAB's CEO, Eva Cederbalk.

Operating profit, excluding the net result of financial instruments measured at fair value, developed well and amounted to SEK 859 million (550), a year-on-year increase of 56%. However, operating profit declined to SEK 425 million (1,091). The decline was due to negative development for the net result of financial instruments, in part because of the development in unrealised items and in part as a consequence of method development involving hedge accounting during the quarter.