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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.  

Non-identifiable data

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.  

Identifiable data

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.  

Personnel management

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 Klagomålsansvarig Box 124 701 42 Örebro


Annual Review 2019

Download as PDF

President’s statement

VD Tomas

Effective collaboration engenders favourable conditions

”Investments by the local government sector continue to be affected by strong population growth and urbanisation, while homes and properties built in the 1960s and 1970s require extensive renovation. Kommuninvest’s development demonstrates that local government authorities are able to join forces to create an effective tool for good financing conditions.”

– Tomas Werngren, President & CEO

Read the president’s statement

Important events during the year

Lending surpassed SEK 400 billion

In 2019, Kommuninvest’s lending passed SEK 400 billion. Lending increased to both larger and smaller municipalities, as well as to municipalities both with and without their own market programmes. The increase is greatest among the municipalities with their own market programmes, which can be interpreted as implying that Kommuninvest’s pricing has been attractive. In 2019, sector debt was expected to rise 9.9 percent, exceeding the average of 7.1 percent for the past ten years. This increased funding is attributable to extensive investment being required, stemming from population growth and maintenance needs. Alongside the economy slowing down and the municipalities’ expenses increasing, this requires that investments be financed through loans.

KI Finans being developed

Over the year, Kommuninvest continued its efforts to simplify matters for our customers by further developing, for example, the signing application in KI Finans, allowing our customers to sign loan agreements with mobilt BankID. The service is now offered to all municipalities, regions and wholly-owned companies. Over the year, KI Offert, with which the customer can request a digital quotation request from Kommuninvest, was further developed in consultation with customers and has been extended with requests now being automatically registered in our internal systems and a quotation is compiled on the basis of the customer’s wishes. Several functions will be developed and launched in 2020, including an opportunity to sign transactions directly in KI Finans. 

Higher ESG rating from two institutes

Over the year, Kommuninvest raised its ESG ratings from the ISS-Oekom and Sustainalytics institutes. The rating from ISS-Oekom was raised in two steps to B–; while Sustainalytics gave an ESG rating of 9.1, in the category “negligible ESG risk”. The results show that Kommuninvest belongs to the group of financial institutions whose operations are considered least exposed to sustainability risks.

Green Loans reach 10 percent of lending

The strong demand for Green Loans continued in 2019. At the end of the year, the volume of Green Loans granted had increased to SEK 63.1 (39.5) billion, relating to 346 (232) investment projects in 150 (109) municipalities and regions. The volume of Green Loans disbursed increased to SEK 41.0 (26.2) billion, corresponding to 10.1 (7.4) percent of the Company’s total lending. 


How Kommuninvest helps build welfare

Kommuninvest finances more than half of the Swedish local government sector’s investments in new housing, schools, homes for the elderly, swimming baths and other infrastructure investments.

Our mission

How we generate sustainable values

Through lending to municipalities and regions, Kommuninvest establishes conditions for the expansion of Swedish welfare, increases the stability of local government finances and contributes to a more sustainable Sweden.

Generating value

Sustainability Report 2019

Kommuninvest’s basic concept and vision includes encouraging social development that is sustainable in the long term. By offering sustainable financing solutions, we foster the efficient use of tax revenues, financial stability and the local government sector’s work with the Sustainable Development Goals.

Sustainability Report

Three perspectives in sustainability work

Sustainable financing

Kommuninvest finances the development of Sweden’s local and regional sectors, as well as investments for a sound and sustainable society. The operations contribute to citizens’ tax funds being used as efficiently as possible and help improve the stability of the financial system. Financing at the lowest possible cost is central.

Sustainable financing


Elbuss i Umeå

Responsible operations

A clear division of responsibilities and a focus on ownership control, corporate governance and ethics shall help the Group to comply with the laws, regulations and rules applicable to the operations. The Code of Conduct highlights the importance of professionalism and good business practices.

Responsible operations

Sustainable organisation

Having a sustainable organisation is crucial to Kommuninvest living up to its mission and vision, as well as to the expectations of our stakeholders. Our high level of ambition and the insight that each employee can make a difference are what guide us in this work. Communicative leadership and committed employee collaboration are essential for success.

Sustainable organisation

Business focus

Byggarbetare på byggarbetsplats

Effective financing and accessible knowledge

Major investment needs remain among Sweden’s municipalities and regions, with escalating welfare challenges demanding that resources be used more efficiently. Kommuninvest plays an important role in both of these areas. Competitive lending provides cost-effective financing and financial expertise, while web-based analysis tools provide opportunities to save time and, accordingly, to manage debt efficiently.
Effective financing and accessible knowledge

Kommuninvest strengthens its position

Major investments in the Swedish local government sector increase external loan financing needs. In 2019, the local government borrowing grew by SEK 65 billion to SEK 721 (656) billion. Kommuninvest continues to strengthen its position, with the Company financing 56 (54) percent of the local government sector’s total debt.

Local government loan financing

Loans that meet customers’ needs

In 2019, Kommuninvest’s lending grew to SEK 406.5 (353.9) billion. This growth reflects increased investment and funding needs among Sweden’s municipalities and regions. The increase also demonstrates Kommuninvest’s increased competitiveness. At the end of  2019, Kommuninvest had a total of 964 (945) active borrowers.

Significant borrower with highest credit rating

Kommuninvest borrows money in capital markets in Sweden and internationally, which funds lending to municipalities and regions. Demand for secure issuers remained good during the year and Kommuninvest was able to meet its funding plans on competitive terms. At the end of the year, total funding amounted to SEK 450.8 (397.4) billion.mdkr.

Liquidity reserve to meet customer needs under all circumstances

To be able to continue providing customers with financing during periods of uncertainty in the financial markets, and to ensure that matured funding can be repaid in a timely manner, Kommuninvest has a liquidity reserve. At year-end, the reserve amounted to SEK 44.7 (47.3) billion, equivalent to 11 (13) percent of the lending volume.
Liquidity management

Organisation and employees

Medarbetare på event

Collaboration for greatest possible membership benefit

Kommuninvest fundamentally believes that its leaders and employees together perform the organisation’s mission and generate benefit for the members. The process of building a strong culture reflecting the Company’s local government values was further developed with the Employee Programme implemented in 2019.
Organisation and employees

Financial position

At the end of 2019, equity in the Company amounted to SEK 7,602.0 (7,603.4) million, following Group contributions of SEK 393.5 (750.6) million paid to the Kommuninvest Cooperative Society. The total capital base was SEK 7,418.8 (7,425.2) million, which gave a total capital ratio of 126.8 (188.4) percent.

Market shares, local government loan financing1

1) Forecast regarding outstanding funding (figures in brackets refer to actual outstanding funding in accordance with members’ own annual reports as per 31 December 2018)

Lending portfolio by borrower category

2) Some lending to municipalities is on-lent to municipal companies through municipal internal banks.

Funding portfolio by programme

Balance sheet

Operating profit before tax

Multi-year summary, Kommuninvest i Sverige AB

  2019 2018 2017 2016 2015
Balance sheet total, SEK billion 471,3 417,2 356,9 361,7 340,6
Lending (recognised value), SEK, billion 408,2 355,7 310,1 277,0 254,4
Net profit, SEK, million 307,9 586,1 876,0 309,8 561,3
Members, total 290 288 288 286 280
of which, municipalities 278 277 277 275 272
of which, regions 12 11 11 11 8
Core Tier I capital ratio1, % 126,8 188,4 212,4 103,7 44,6
Tier I capital ratio2, % 126,8 188,4 212,4 103,7 44,6
Total capital ratio3, % 126,8 188,4 212,4 122,1 59,8
Leverage ratio according to CRR4, % 1,58 1,75 1,78 1,56 0,87

1) Core Tier I capital in relation to total risk exposure.

2) Tier I capital in relation to total risk exposure.

3) Total capital base in relation to total risk exposure.

4) Tier I capital in relation to total assets and commitments (exposures).