About EKF

EKF increases the premium for credits below DKK 25 million for foreign buyers

From 1 January 2016 EKF will introduce a 25% increase on premiums for credits below DKK 25 million. This applies to credits involving foreign buyers only.
This means that, for instance, the premium for a credit of DKK 26 million will be 1.6% whereas the premium for a credit of DKK 5 million will be 2%. After 1 January 2016, you can use our premium calculator to calculate the new premium.

The total price paid by the foreign buyer includes the financing bank´s funding and administrative costs, therefore the actual increase of the total costs for the foreign customer will in fact be much lower than 25%.

The reason behind the price increase is the realisation that in connection with credits below DKK 25 million for foreign buyers the loss is much higher than the revenues. This applies to credits covered by the SME Guarantee, the Supplier Credit Guarantee and the Financing Guarantee.

However, these products are still attractive solutions for exporters who wish to offer their foreign customers a longer and more favourable credit.
Since 2008, EKF has issued 300 guarantees covering credits below DKK 25 million, and 120 exporters have obtained EKF guarantees to cover and finance one or several orders to foreign customers.

The increased premium only applies to guarantees issued after 1 January 2016. Existing guarantees will retain the premium rate, and premiums for offers already issued will be retained until expiry.
 
Apart from increasing the premium, we will also change the criteria for credit evaluation and acceptance. Among others, in future our credit evaluation will be based on an audited account statement covering the foreign customer. 
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