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Last year the volume of loan guarantees, direct loans and guaranteed export issued by KredEx was 1,833 million kroons in total. Enterprise loan guarantees were issued for 804 million kroons and loans for 473 million kroons in total, and the volume of housing-related loan guarantees reached up to 146.6 million kroons and the volume of loans up to 74.6 million kroons. Export guarantees reached the total amount of 335 million kroons.
The financial result of year 2009 was a profit of 2.1 million kroons.
In 2009, KredEx guaranteed and financed 409 companies with subordinated loans and with project-based loan resources, incl. 50 start-up companies in the total amount of 1.3 billion kroons. The support from KredEx allowed the companies to include additional financing from the banks and KredEx in the amount of 1.9 billion kroons. The supported companies have approx. 24,000 employees; in total the annual turnover of the companies is 17.6 billion kroons and the export turnover is 10,6 billion kroons. As a result of the financed projects 1,300 new jobs are intended to be created.
Volume of the guaranteed export turnover in 2009 was 335 million kroons. 312 applications for export guarantees were submitted to KredEx and as of the end of the year new guarantee agreements were concluded with 56 exporters to guarantee the credit risks of 98 foreign buyers. In 2009 the biggest amount of export guarantees insurance agreements was concluded for credit risks, connected with export going to Ukraine, the total amount of which was 229 million kroons or 68% of the total volume of agreements.
In 2009, banks issued 799 housing loans with KredEx guarantee in the total amount of 633 million kroons. The volume of loan guarantees was 121.2 million kroons. Among all the housing loans issued in Estonia, the volume of the loans issued with the KredEx guarantee was 8.94% as annual average, amounting even to 13.8% in October. In 2009 451 young families and 466 young specialists used the loan guarantee.
Last year 76 apartment-building loan guarantees were issued in the amount of 25.4 million kroons. 2009. Since July 2009. banks issued 66 KredEx renovation loans with favorable interest in the total amount of 74.6 million kroons.
Last year the amount of paid loss by KredEx was 43.9 million kroons. During the total operating time, KredEx has paid for loss in the amount of 102 million kroons. As of the end of the year, the estimated loss amount payable in the future was almost 65.4 million kroons (in 2008 42.4 million kroons) and the equalization provision created to cover the unknown loss of future periods was 20.5 million kroons (in 2008 18.6 million kroons). The total calculated amount of technical allocations as of the end of the year is 126.1 million kroons or 29 million more than year before.
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