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Information regarding the treatment of personal data by Kommuninvest i Sverige AB
Kommuninvest has high ambitions regarding openness, traceability and transparency. At the same time, the company complies with regulations aimed at protecting the individual and its integrity. Much of the information pertaining to an individual is referred to as personal data. Personal data are defined as follows:
Any information directly or indirectly attributable to a human being who is in life is regarded as personal data. Even images (photos) and sound recordings on individuals treated by computer can be personal data even if no names are mentioned. Encrypted data and various types of electronic identities, such as IP numbers, are counted as personal data if they can be linked to a physical person.
This information describes Kommuninvest's considerations and regulations regarding the company's handling of personal information when you visit our websites or have other contacts with us.
Kommuninvest i Sverige AB (“Kommuninvest”) is responsible for all personal data that is processed within the entire organization. Below is a brief description of what personal data is processed, the reason why it is processed, and your individual right of access to all data that is held about you.
By visiting our site, you agree to these privacy principles. If you do not agree to these data protection principles, stop using this site and refrain from phone contacts. We refer instead to mail correspondence, which is handled through the registrations department.
Please feel free to get in touch with us if you need any further information about this by using the contact details below.
Personal data that is being managed
Kommuninvest processes personal data for the administration and execution of contracts that are in force, and to be able to fulfil its legal obligations. Kommuninvest processes personal data that is provided voluntarily when visiting the Kommuninvest website, when entering contracts, or when data is otherwise recorded about the preparation or administration of a contract (for example, about a lending or borrowing agreement). When matters are dealt with on the telephone, personal data is also processed by recording the call. Kommuninvest may also supplement personal data by obtaining further information from public records.
Personal data may be disclosed in certain situations where Kommuninvest is obliged by law to provide information to an agency, for example the Swedish Financial Supervisory Authority, or the Swedish Data Protection Authority.
Kommuninvest may occasionally collect anonymous information about the use of its websites to improve the site and the services provided. These usage data may apply among others:
the number of visits to the site and their length;
the user's geographical position;
usage rate of the site different sections;
which technique is used;
disturbances in the business.
The data is not reviewed at an individual level without your express permission.
When Kommuninvest collects identifiable data, we strive to inform you as to the purpose for which the information is requested. Normally, this information is requested to answer your questions.
Kommuninvest may share this type of information within the Group for the purposes mentioned in this information.
Kommuninvest uses subcontractors to offer digital services. We may need to share your personal information with these for them to provide us with their services. Our subcontractors may not use this kind of personal data for any other purpose and we assume that their services are covered by privacy. Kommuninvest does not sell and does not exchange personal data with other companies for marketing purposes.
Kommuninvest may contact you to complete customer satisfaction and market research.
In an application or request relating to an employment advertised on our website or in any other medium, you may need to provide Kommuninvest personal information, such as your resume. Kommuninvest can use this information on all its units when making employment decisions or for purpose of the request. Kommuninvest can save the data for future use, unless you have prohibited this.
Subcontractors in information management
In some situations, Kommuninvest uses subcontractors who collects, evaluates and otherwise handles data on our behalf. Kommuninvest's principle is that subcontractors commit to our data protection regulations. Normally this is governed by an agreement between Kommuninvest and our suppliers.
The accuracy of your personal data
This site may not be used to publish or disseminate data protected by copyright or other equivalent rights without the permission of the proprietor, or otherwise in a way that is adversely, offensive or harmful to Kommuninvest or third parties. By submitting this type of information through the Website, you grant Kommuninvest the right to use, develop, produce, distribute, publish or transmit the information you send in whole or in part, and / or add the data sent from you without obligation and liability to other material or other products or services.
Transcript from register and the rectification of errors
Once a year you can, free of charge, request a transcript from Kommuninvest whereby you will receive information on the personal data about you that is being held, where this data came from, why it was obtained, the purpose for which it is being held, and to whom any data may be disclosed. If you would like to be sent such a transcript, please send a written request, signed by you, to the address you will find below. You can notify us at the same address if you no longer wish to receive information from Kommuninvest, or if you would like to request the correction of some erroneous or incomplete personal data.
Comments on Kommuninvest's actions
You are welcome to contact Kommuninvest's complaint manager who takes care of your comments. Describe what you are not happy with and who you previously have had contact with.
Kommuninvest i Sverige AB
701 42 Örebro
PRESS RELEASE: Kommuninvest interim report 2016: Municipal investments drive demand for credit
The Swedish local government debt office, Kommuninvest i Sverige AB, continued to post growing lending volumes, according to the interim report for the first six months. Kommuninvest has also strengthened the capital base. Operating profit was SEK 14.0 (68.9) million. At 30 June 2016, lending amounted to SEK 269 (254) billion.
1 January to 30 June 2016 in review
Strong population growth, urbanisation and demographic changes is affecting investment needs and borrowing needs in the local government sector. Kommuninvest’s lending rose to SEK 268,882.8 (254,421.7) million.
Kommuninvest is the largest lender to Swedish municipalities and county councils/regions, and the position has strengthened somewhat. Kommuninvest’s share of the local government sector’s total borrowing amounted to 47 (46) percent at the end of the period.
Operating profit was SEK 14.0 (68.9) million. The model for building up capital means that specific capital contributions from members will increasingly replace building up capital via the income statement.
During the reporting period, the share capital rose by SEK 1,490.7 million through new issues, compared with SEK 1,880.0 million during 2015. This reflects the owners’ ambitions to meet forthcoming regulatory requirements regarding leverage ratio from 2018.
The balance sheet total was SEK 367,146.6 (340,626.3) million and net interest income was SEK 372.7 (370.6) million.
Kommuninvest meets all of the requirements regarding risk-weighted capital adequacy. The core Tier 1 capital ratio was 75.9 (44.6) percent, the Tier 1 capital ratio was 75.9 (44.6) percent and the total capital ratio 89.2 (59.8) percent. Total equity increased to SEK 5,879.5 (4,344.3) million.
The leverage ratio, calculated according to the EU Capital Requirement Regulation CRR, was 1.56 (0.87) percent. Including the subordinated loan issued to Kommuninvest Cooperative Society, the leverage ratio was 1.84 (1.16) percent.
Membership in the Kommuninvest Cooperative Society rose by two new members during the period. As of 30 June 2016, the Society had 282 (280) members, of which 273 (272) municipalities and 9 (8) county councils/regions.
Comments by Tomas Werngren, President and CEO
– Our lending growth and the capital support from owners show that they value the Kommuninvest cooperation, and want it to continue so that Swedish municipalities and county councils can have access to efficient and stable investment financing. This is of considerable importance.
The complete interim report is available for download here
This release contains such information that Kommuninvest is required to disclose pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading Act. The information was submitted for disclosure on 31 August 2016 at 08:00 a.m.
Comparative earnings figures relate to the same twelve-month period previous year (1 January–30 June 2015). Comparative balance sheet figures relate to 31 December 2015.
Kommuninvest is a municipal cooperation for efficient and sustainable financing of housing, infrastructure, schools, hospitals etc. Together, we get better loan terms than each one individually. Since its inception in 1986, the Kommuninvest collaboration has helped lower the local government sector’s borrowing costs by many billion kronor. Currently, 273 municipalities and 9 counties/regions are members of this voluntary cooperation. With total assets of around SEK 370 billion (USD ~43 billion), Kommuninvest is the largest lender to the local government sector and the sixth largest credit institution in Sweden. The head office is located in Örebro.
Contact persons for enquiries
President & CEO Tomas Werngren, tel. +46 70 645 06 69
 The loan terms for the subordinated loan are such that the loan is not eligible for inclusion as Tier 1 capital according to CRR. Kommuninvest intends to replace the existing subordinated loan with a new one or with another capital form that is eligible for inclusion as Tier 1 capital well in advance of year-end 2017.