· OPERATING PROFIT EXCLUDING “NET RESULT OF FINANCIAL TRANSACTIONS” AMOUNTED TO MSEK 78.0 (71.5) The improved profit derived from higher net interest income and more extensive recoveries.   · THE VOLUME OF LOANS OUTSTANDING AMOUNTED TO MSEK 52,572 (47,877) Loans outstanding increased by MSEK 799 or 1.5 percent to MSEK 52,572. Borrowing demand from Sweden’s farmers and foresters continued to diminish in parallel with stiffening competition in the market.   · LOAN LOSS RATE: MINUS 0.01 PERCENT (LOSS: 0.01 PERCENT) Recoveries exceeded loan losses in the first quarter and amounted to MSEK 1.9, corresponding to 0.01 percent of loans outstanding.   · CAPITAL ADEQUACY WAS 39.1 PERCENT; TIER 1 CAPITAL ADEQUACY WAS 33.9 PERCENT ACCORDING TO BASEL II RULES