Financial and Mortgage Portfolio Overview
Seasoned and diversified long-term funding programme
Majority of 2022 maturities already funded through €300m sustainable bond issue in January
Highlights
S&P Global ratings BBB/A-2 with
stable outlook confirmed on 13
July 2022
Sources of borrowings
Development, ISKbn
Contractual maturity profile of
borrowings
ISKbn
In June, the Bank signed a new
covered bond programme. Rated A
by Standard & Poor's, it will permit
issuance in foreign currencies,
allowing broader market access
and investor diversification
435
438
441
424
426
11
37
36
12
25
34
32
49
50
50
51
91
89
86
The Bank has a call option on its
SEK 750 Tier 2 of 2027 in
November 2022 and a January
2023 call on its EUR 300m senior
bond maturing in January 2024
149
149
146
97
80
41
At end of 2Q22, total LCR ratio was
147%, FX LCR was 240% and total
NFSR was 118%
The Bank's MREL requirement is
21% of total risk exposure amount
(TREA) and applies from the date
of the announcement, 26 April
2022. The Bank will fulfil the MREL
requirement from the outset
130
12
112
63
72
Currency split of borrowings
30.6.22
USD
3%
SEK
10%
32
NOK
6%
ISK 426bn
ISK
53%
45
86
EUR
29%
201
199
205
208
216
23
48
49
17
23
23
30/6/21
30/9/21
31/12/21 31/3/22
30/6/22
2022
■Other borrowing
Subordinated bonds
■Senior unsecured green and sustainable
■Senior unsecured
Covered bonds
2023
10
2024
2025
≥2026
Other borrowing
■Subordinated bonds
■Senior unsecured green and sustainable
■Senior unsecured
Covered Bonds
August-September 2022
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