SBAB reports a net operating income of SEK 721 million for 2003, an all-time record.

(From Hugin)

SBAB's net operating income for the fourth quarter of 2003 was SEK 167 million, an increase of SEK 58 million compared to the corresponding period in 2002. - The positive development in the operating income has continued during the whole of 2003 and SBAB's operating income for the full year amounted to SEK 721 million, which was an improvement of 17 per cent over the corresponding period in 2002, says Christer Malm, SBAB's CEO.

Result for the fourth quarter Net operating income for the fourth quarter amounted to SEK 167 million, an increase of SEK 58 million compared to the corresponding period in 2002, largely accounted for by last year's extraordinary provision of SEK 32 million made towards negotiated pensions to achieve staff reductions, as compared to the SEK 5 million allocated for that purpose in the fourth quarter of this year. Net interest income amounting to SEK 313 million showed an increase when compared both to the same quarter of last year and to the third quarter of this year. The aforementioned allocation towards negotiated pensions has a bearing on the fact that costs at SEK 140 million were 14 per cent lower than in the fourth quarter 2002. Loan losses were SEK 4 million. Result for 2003 SBAB's net operating result …