v3.25.4
Statement of Cash Flows in the Consolidated Group - SEK (kr)
kr in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Operating profit [1] kr 1,491 kr 2,121 kr 1,568
Adjustments for non-cash items in operating profit 1,053 542 1,259
of which provision for credit losses, net 429 93 585
of which depreciation and impairment of non-financial assets 64 84 88
of which exchange-rate differences (6) 9 (1)
of which unrealized changes in fair value (21) (346) (54)
of which other [2] 587 702 641
Income tax paid (606) (601) (528)
Increase (-)/decrease (+) in lending (5,664) 20,058 (13,785)
Increase (-)/decrease (+) in bonds and securities held (3,557) (2,001) 17,404
Other changes in assets and liabilities - net [3] (592) (41) (74)
Cash flow from operating activities (7,875) 20,078 5,844
Investing activities      
Investments (45) (17) (26)
Cash flow from investing activities (45) (17) (26)
Financing activities      
Senior debt 143,623 120,899 167,282
Repayment of debt (116,956) (130,020) (165,249)
Repurchase and early redemption of own long-term debt (7,123) (8,636) (10,933)
Derivatives (7,249) (660) 2,868
Dividend paid (1,673) (248) 0
Payment of lease liability (29) (28) (28)
Cash flow from financing activities 10,593 (18,693) (6,060)
Net cash flow for the period sum 2,673 1,368 (242)
Cash and cash equivalents at beginning of the year 5,219 [4] 3,482 [4] 4,060
of which cash at banks 122 186 672
of which cash equivalents 7,137 5,033 2,810
Net cash flow for the period 2,673 1,368 (242)
Exchange-rate differences on cash and cash equivalents (633) 369 (336)
Cash and cash equivalents at end of year [4] 7,259 5,219 3,482
of which cash at banks 122 186 672
of which cash equivalents kr 7,137 kr 5,033 kr 2,810
[1]
1 Interest payments received and expenses paid
Interest payments received14,493 19,157 15,621 
Interest expenses paid11,635 15,869 12,313 
[2]
2 Of which other includes accrued interest, taxes not paid and changes in other comprehensive income.
[3]
4 Reported on a net basis in line with IAS 7 because it relates to cash receipts/payments for items in which the turnover is either quick, the amounts are large, and/or the maturities are short.
[4]
3 Cash and cash equivalents include, in this context, cash at banks that can be immediately converted into cash and short-term deposits for which the time to maturity does not exceed three months from trade date. See Note 11.