Diversified Financial Services
Company Overview of Eksportfinans ASA
Eksportfinans ASA manages a portfolio of government supported and market-based export credits in Norway, other European countries, the Americas, and internationally. The company operates through three segments: Export Lending, Municipal Lending, and Securities. It offers export-related loan portfolio consisting of contract financing, such as supplier and buyer credits, and project financing; financing of international and export related activities; and acquisition of loans from banks. The company also provides long-term financing of Norwegian local governments. Eksportfinans ASA was founded in 1962 and is headquartered in Oslo, Norway.
Dronning Mauds gate 15
PO Box 1601 Vika
Founded in 1962
Key Executives for Eksportfinans ASA
Chief Executive Officer and President
Chief Financial Officer and Executive Vice President
Executive Vice President, Director of Legal & Compliance and General Counsel
Executive Vice President, Director of Staff and Secretary
Compensation as of Fiscal Year 2016.
Eksportfinans ASA Key Developments
Eksportfinans ASA Announces Unaudited Earnings Results for the Second Quarter and First Half Ended June 30, 2016; Provides Earnings Guidance for the Second Half of 2016
Aug 18 16
Eksportfinans ASA announced unaudited earnings results for the second quarter and first half ended June 30, 2016. For the quarter, the company reported net interest income was NOK 56 million against NOK 123 million a year ago. Total operating loss was NOK 161 million against NOK 438 million a year ago. Pretax operating loss was NOK 194 million against NOK 473 million a year ago. Loss for the period was NOK 86 million against NOK 344 million a year ago. Negative return on equity was 4.6% against 18.5% a year ago. Net return on average assets and liabilities was 0.07% against 0.49% a year ago.
For the first half, the company reported net interest income was NOK 132 million against NOK 224 million a year ago. Total operating loss was NOK 152 million against NOK 600 million a year ago. Pretax operating loss was NOK 219 million against NOK 668 million a year ago. Loss for the period was NOK 104 million against NOK 486 million a year ago. Net cash flow from operating activities was NOK 20,939 million against NOK 4,709 million a year ago. Negative return on equity was 2.8% against 12.9% a year ago. Net return on average assets and liabilities was 0.20% against 0.41% a year ago.
For the second half-year of 2016, the board expects stable operations and decreasing net interest income due to reduction of interest generating assets.
Eksportfinans ASA Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2016
May 4 16
Eksportfinans ASA reported unaudited earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported net interest income of NOK 76 million compared to NOK 101 million a year ago. Total operating loss was NOK 9 million compared to NOK 162 million a year ago. Pre-tax operating loss was NOK 25 million compared to NOK 195 million a year ago. Loss for the period was NOK 18 million compared to NOK 142 million a year ago. Negative return on equity was 5.3% compared to 4.9% a year ago. The reduction net interest income was primarily due to a lower level of interest generating assets. Net cash flow from operating activities was NOK 196 million compared to net cash flow used in operating activities of NOK 2,170 million a year ago. Profit, excluding unrealized gains and losses and excluding realized losses hedged by the PHA, amounted to NOK 42 million for the first quarter of 2016. This was a decrease of NOK 19 million compared to the same period in 2015. The primary reason for this decrease was a gain in the first quarter of 2015 related to the realization of NOK 2 billion of previously frozen funds in Iceland. Negative return on equity was 1.0% compared to 7.4% a year ago.
Eksportfinans ASA Approves Amendment to Articles of Association
Apr 14 16
The annual general meeting of Eksportfinans ASA was held on April 14, 2016, it approved the proposed amendment to the Articles of Association the adoption of a new corporate governance model. The new model is in compliance with the Act on Financial Companies effective from January 1, 2016, which does not require the presence of a control committee or a council of representatives in financial institution like Eksportfinans.
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