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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.
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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.
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the user's geographical position;
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which technique is used;
disturbances in the business.
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Kommuninvest may share this type of information within the Group for the purposes mentioned in this information.
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Subcontractors in information management
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The accuracy of your personal data
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Transcript from register and the rectification of errors
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Kommuninvest i Sverige AB
701 42 Örebro
Year-end report 2018: Kommuninvest strengthens its position on the municipal loan market
The Swedish local government debt office, Kommuninvest i Sverige AB, increased its share of local government borrowings from 51 to 55 percent during 2018, according to its year-end report. Operating profit decreased to SEK 752.5 (1,123.8) million, primarily as an effect of a lower result from unrealized market value changes. The leverage ratio was 1.75 (1.78).
2018 in review
The Swedish local government sector’s investment and borrowing needs continue to be impacted by population growth, urbanisation and demographic change. Kommuninvest expects sector borrowing to have increased by 6 (4) percent in 2018 to SEK 637 (601) billion, corresponding to 13.4 (13.1) percent of GDP.
Kommuninvest’s lending increased to SEK 353,946.1 (308,042.3) million. Kommuninvest strengthened its position as the largest lender to Swedish municipalities and county councils/regions, with an estimated market share of 55 (51) percent of the local government sector’s total borrowing.
Operating profit amounted to SEK 752.5 (1,123.8) million, with the reduction mainly due to changes in unrealized market value changes. Excluding market value changes, operating profit amounted to SEK 588.1 (697.8) million, in turn mainly explained by a lower margin on lending to customers, in accordance with an annual general meeting resolution. This has resulted in new pricing for loan entered into mainly during the second half of 2018.
The balance sheet total was SEK 417,202.1 (356 942,6) million and net interest income amounted to SEK 885.5 (881.3) million. Net interest income was negatively affected by the lower margin in lending, but this was offset by increasing lending.
Kommuninvest meets all requirements regarding risk-weighted capital. The core Tier 1 capital ratio was 188.4 (212.4) percent, the Tier 1 capital ratio was 188.4 (212.4) percent and the total capital ratio 188.4 (212.4) percent.
The leverage ratio, calculated according to the EU Capital Requirement Regulation CRR, was 1.75 (1.78) percent. Kommuninvest believes it will comfortably comply with the leverage ratio requirement to be introduced, for further information see section ”Capital adequacy” in the annual accounts.
Kommuninvest Cooperative Society had a total of 288 (288) members at the end of the year, of which 277 (277) municipalities and 11 (11) county councils/regions. During the year, no new members joined. However, after the balance sheet date Region Blekinge has been welcomed as a new member. The membership of Kommuninvest Cooperative Society then amounts to 289 local governments, of which 277 municipalities and 12 regions.
Nominal amount. The recognized value of lending, including market value component and accrued interest, was SEK 355,710.0 (310,147.3) million.
Comments by Tomas Werngren, President and CEO
– During the year, a new pricing model was introduced following a decision by Kommuninvest’s members, this has contributed to high business volumes. The financial result remains elevated and can be expected to decrease in the future as lower loan margins constitute an increasing proportion of lending.
– In relation to GDP, municipal loan debt is low and obviously manageable. However, the sector’s competence supply challenge is a concern both from an operational and cost perspective.
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 13 February 2019 at 08:00 a.m.
Comparative earnings figures relate to the same twelve-month period previous year (1 January–31 December 2017). Comparative balance sheet figures relate to 31 December 2017.
Contact persons for enquiries
President & CEO Tomas Werngren, tel. +46 70 645 06 69