Kommuninvest - Interim Report 2026: Stable lending growth in a time of transition
26 August 202625 August 2026 - Kommuninvest i Sverige AB publishes its Interim Report for the period January to June 2026. Kommuninvest’s lending as of 30 June 2026 amounted to SEK 589.8 (563.9) billion, corresponding to an increase of 4.5 (0.8) per cent during the first half of the year. The growth in lending during the period can to a large extent be attributed to the strengthened competitiveness resulting from the margin reduction implemented by Kommuninvest in December 2025.
- The first half of the year has been marked by uncertainty in the global environment. Geopolitical tensions and trade policy uncertainty have contributed to volatility in the financial markets. At the same time, the local government sector is facing demographic changes and continued substantial investment needs. In this environment, we have increased our lending volume, strengthened our competitiveness and maintained confidence in the capital markets. Through our financing, we have contributed to providing municipalities and regions with favourable conditions to undertake necessary investments and meet long-term needs, says Maria Viimne, CEO of Kommuninvest.
The operating result, profit before tax, amounted to SEK -214.2 (58.4) million. The risk tax introduced on 1 January 2022 impacts the operating result by SEK -149.5 (-180.4) million. The operating result, defined as the operating profit excluding changes in market value, expected credit losses and imposed levies, amounted to SEK 299.4 (328.3) million. Kommuninvest’s funding strategy performed well during the period. Total outstanding borrowing amounted to SEK 676.0 billion in nominal terms at the end of the period, compared with SEK 609.2 billion at the turn of the year.
- The negative result is primarily attributable to unrealised changes in market value. These are within the normal range given historical levels and do not reflect business development. Underlying earnings and business development remain stable and are developing according to plan, says Maria Viimne, CEO of Kommuninvest.
At the end of the first half of the year, the Green Loans portfolio comprised 789 (764) approved green projects, corresponding to SEK 142.3 (135.8) billion. Loans for Social Sustainability are intended to finance social investments in the local government sector . As of 30 June 2026, this portfolio included 34 (34) approved projects, corresponding to SEK 14.4 (14.4) billion. The share of sustainable loans, including both Green Loans and Loans for Social Sustainability, amounted to 19.4 (19.2) per cent.
For further information:
Patrick Nimander, Chief Financial Officer
Phone: +46 72 254 94 60
E-mail: patrick.nimander@kommuninvest.se
Victoria Preger, Chief Communication Officer
Phone: +46 70 266 87 26
E-mail: victoria.preger@kommuninvest.se