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Note 3 – Segment reporting

Segment reporting has been prepared based on the manner in which executive management monitors operations. This follows statutory account preparation, with the exception of internal funding cost.

The internal funding cost is included in net interest income and allocated to the segments based on acquired loan portfolio assets in relation to a fixed internal monthly interest rate for each portfolio. The difference between the external financing cost and the internal funding cost is reported in Central Function. This Central Functions item pertains to the net income for intra-group financial transactions.

Group costs for central and supporting functions are not allocated to the operating segments but are reported as Central Functions.

With respect to the balance sheet, only acquired loan portfolios are monitored. Other assets and liabilities are not monitored on a segment-by-segment basis.

Income Statement, 2020         
SEK mGreat BritainItalyGermanyPolandFranceOther countriesCentral functionsEliminationsGroup
Net interest income550 700 307 361 261 444 103 2,726 
of which, internal funding costs-210 -145 -59 -157 -43 -61 675 
Dividend income 302 -302 
Impairment gains and losses-113 -72 13 -24 10 -272 -458 
Fee and commission income22 67 93 
Net income financial transactions-7 -6 
Other operating income13 
Total operating income460 698 327 339 274 171 399 -300 2,368 
Total operating expenses-333 -468 -213 -181 -168 -281 -698 -1 -2,343 
Impairment shares in subsidiaries-------1161160
Profit from participations in joint ventures13 44 57 
Profit before tax127 230 114 158 106 -97 -371 -185 82 

Income Statement, 2019         
SEK mGreat BritainItalyGermanyPolandFranceOther countriesCentral functionsEliminationsGroup
Net interest income588 729 332 350 154 495 215 2,863 
of which, internal funding costs-233 -156 -63 -161 -28 -71 -712 
Dividend income 10 -10 
Impairment gains and losses-46 126 94 -32 -32 119 
Fee and commission income43 71 121 
Net income financial transactions-6 -80 85 
Other operating income10 -17 20 
Total operating income590 931 350 446 125 469 153 -26 3,038 
Total operating expenses-375 -506 -221 -192 -162 -281 -631 16 -2,352 
Profit from participations in joint ventures53 62 
Profit before tax215 425 129 254 -37 197 -425 -10 748 

Acquired loans, 31 Dec 2020        
SEK mGreat BritainItalyGermanyPolandFranceOther countriesCentral functionsGroup
Run-off consumer loan portfolio
Acquired loan portfolios5,061 5,428 2,440 3,366 2,320 2,460 21,075 
Shares and participations in joint ventures 1)161 161 
Acquired loans5,061 5,428 2,446 3,366 2,320 2,460 161 21,242 

1) Refers to the value of shares and participations in joint ventures in Poland with acquired loan portfolios and is therefore not equivalent to corresponding item in the balance sheet.

Acquired loans, 31 Dec 2019        
SEK mGreat BritainItalyGermanyPolandFranceOther countriesCentral functionsGroup
Run-off consumer loan portfolio10 10 
Acquired loan portfolios6,303 6,165 2,172 3,865 2,827 2,971 24,303 
Shares and participations in joint ventures 1)200 200 
Acquired loans6,303 6,165 2,182 3,865 2,827 2,971 200 24,513 

1) Refers to the value of shares and participations in joint ventures in Poland with acquired loan portfolios and is therefore not equivalent to corresponding item in the balance sheet.

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- Annual Report 2020 -
- Årsredovisning 2020 -