NIB Nordic Investment Bank

Financial results in tables

Financial results in tables

 

Statement of comprehensive income
Statement of financial position

Statement of changes in equity

Cash flow statement

 

 

Statement of comprehensive income

EUR 1,000 Jan-Aug 2017* Jan-Aug 2016* Jan-Dec 2016

Interest income 202,389 208,189 311,856
Interest expense -41,863 -49,141 -70,047
Net interest income 160,526 159,048 241,809

Commission income and fees received 4,975 8,823 13,124
Commission expense and fees paid -1,998 -1,578 -2,025
Net fee and commission income 2,977 7,245 11,099

Net profit/loss on financial operations 15,027 20,929 23,292
Foreign exchange gains and losses -481 -23 22
Total operating income 178,049 187,199 276,222

Expenses
General administrative expenses
Personnel expenses -19,519 -19,279 -28,637
Other administrative expenses -8,124 -9,143 -13,617
Depreciation -1,238 -1,474 -2,319
Total operating expenses -28,881 -29,897 -44,573

Profit before net loan losses 149,168 157,302 231,649
Net loan losses 10,727 -12,285 -19,839
Net profit for the period 159,896 145,017 211,810



Other comprehensive income**
Items that will not be reclassified to income statement
Valuation of cross currency basis spread 14,447 -54,114 -28,202
Items that will be reclassified to income statement
Net change in cash flow hedge reserve - 3,911 -
Total other comprehensive income 14,447 -50,203 -28,202

Total comprehensive income 174,342 94,814 183,608

 *Unaudited figures, to be read in conjunction with NIB's audited financial statements for 2016.

**The movement in the fair value of cross currency basis spreads if hedging swaps is recognised in the hedging reserve. The effective portion of net change in fair value hedging instruments of cash flow hedges is also recognised in the hedging reserve. These swaps will be held to maturity and the unrealised gains and losses due to cross-currency basis spreads will be zero at maturity.

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Statement of financial position

EUR 1,000 31 Aug 2017* 31 Aug 2016* 31 Dec 2016
ASSETS
Cash and cash equivalents 3,340,509 2,665,268 4,455,860
Financial placements

Placements with credit institutions 8,771 8,771 8,771

Debt securities 6,423,279 6,362,508 6,572,244

Other 14,254 22,508 18,901

6,446,304 6,393,788 6,599,916

Loans outstanding 17,127,283 16,157,795 16,640,030
Intangible assets 4,022 - 938
Tangible assets, property and equipment 28,922 27,002 26,723
Other assets

Derivatives 1,115,858 2,096,524 2,156,921

Other assets 19,995 20,468 12,589

1,135,853 2,116,992 2,169,510
Accrued interest and fees receivable 255,498 250,444 285,353
Total assets 28,338,391 27,611,289 30,178,330









Liabilities and equity
Liabilities
Amounts owed to credit institutions

Short-term amounts owed to credit institutions 516,953 1,114,959 1,310,873

Long-term amounts owed to credit institutions 17,327 17,973 17,973

534,280 1,132,931 1,328,846

Repurchase agreements - 104,211 -
Debts evidenced by certificates

Debt securities issued 22,651,354 21,686,248 23,825,644

Other debt 66,950 59,600 81,745

22,718,304 21,745,847 23,907,389
Other liabilities

Derivatives 1,506,119 1,261,293 1,444,341

Other liabilities 11,967 11,971 11,355

1,518,086 1,273,264 1,455,696
Accrued interest and fees payable 173,275 168,723 211,294
Total liabilities 24,943,944 24,424,978 26,903,225

Total equity 3,394,447 3,186,311 3,275,105

Total liabilities and equity 28,338,391 27,611,289 30,178,330

 *Unaudited figures, to be read in conjunction with NIB's audited financial statements for 2016.

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Statement of changes in equity

EUR 1,000 Paid-in capital Statutory Reserve General Credit Risk Fund Special Credit Risk Fund PIL Funds available for appropriation Hedging reserve Total

EQUITY AT 31 DECEMBER 2015 418,602 686,325 1,430,252 395,919 215,398 0 3,146,497
Profit for the period - - - - 145,017 - 145,017
Other comprehensive income - - - - - -50,203 -50,203
Total comprehensive income 0 0 0 0 145,017 -50,203 94,814
Transaction with onwners in their capacity as owners
Appropriations between
reserve funds
- - 110,398 50,000 -160,398 - 0
Dividends - - - - -55,000 - -55,000
EQUITY AT 31 August 2016 418,602 686,325 1,540,651 445,919 145,017 -50,203 3,186,311
Profit for the period - - - - 66,793 - 66,793
Other comprehensive income - - - - - 22,000 22,000
Total comprehensive income 0 0 0 0 66,793 22,000 88,793

EQUITY AT 31 DECEMBER 2016 418,602 686,325 1,540,651 445,919 211,810 -28,202 3,275,105
Profit for the period - - - - 159,896 - 159,896
Other comprehensive income - - - - - 14,447 14,447
Total comprehensive income 0 0 0 0 159,896 14,447 174,342
Transaction with onwners in their capacity as owners
Appropriations between
reserve funds
- - 156,810 - -156,810 - 0
Dividends - - - - -55,000 - -55,000
EQUITY AT 31 August 2017 418,602 686,325 1,697,461 445,919 159,896 -13,756 3,394,447

 

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Cash flow statement

EUR 1,000 Jan-Aug 2017* Jan-Aug 2016* Jan-Dec 2016
Cash flows from operating activities

Net profit for the period 159,896 145,017 211,810


Adjustments:

Unrealised gains/losses of financial assets held at fair value -9,394 -8,872 1,548

Depreciation and write-down in value of tangible and intangible assets 1,238 1,474 2,319

Change in accrued interest and fees (assets) 29,854 48,533 13,625

Change in accrued interest and fees (liabilities) -38,019 -54,077 -11,506

Impairment of loans -10,727 12,285 19,839

Adjustment to hedge accounting -606 -508 -4,271

Other adjustments to the period's profit -122 2,254 -628

Adjustments, total -27,777 1,089 20,926


Lending

Disbursements of loans -1,813,276 -1,945,973 -3,373,252

Repayments of loans 1,004,340 1,427,981 2,464,579

Capitalisations, redenominations, index adjustments, etc. 80 -26 -32

Exchange rate adjustments 308,575 76,667 -110,135

Lending, total -500,280 -441,351 -1,018,840

Cash flows from operating activities, total -368,162 -295,245 -786,103

Cash flows from investing activities

Placements and debt securities

Purchase of debt securities -1,339,955 -1,533,672 -2,287,945

Sold and matured debt securities 1,361,204 1,245,378 1,843,682

Placements with credit institutions - -850 -850

Other financial placements 2,312 320 2,714

Exchange rate adjustments, etc. 131,424 18,093 -47,891

Placements and debt securities, total 154,985 -270,731 -490,290


Other items

Acquisition of intangible assets -3,084 - -938

Acquisition of tangible assets -3,437 -117 -682

Change in other assets -6,492 5,430 10,698

Other items, total -13,013 5,313 9,078

Cash flows from investing activities, total 141,972 -265,418 -481,212

Cash flows from financing activities

Debts evidenced by certificates

Issues of new debt 4,027,428 4,469,633 6,700,059

Redemptions -3,691,128 -3,607,799 -3,823,944

Exchange rate adjustments -1,595,551 -254,537 380,563

Debts evidenced by certificates, total -1,259,252 607,297 3,256,678


Other items

Long-term placements from credit institutions -645 -27 -27

Change in swap receivables 1,029,728 575,541 265,363

Change in swap payables 189,316 -211,784 -86,468

Change in other liabilities 612 2,025 1,409

Dividend paid -55,000 -55,000 -55,000

Other items, total 1,164,010 310,756 125,277

Cash flows from financing activities, total -95,241 918,053 3,381,955

CHANGE IN CASH AND CASH EQUIVALENTS, NET -321,431 357,390 2,114,639

Opening balance for cash and cash equivalents, net 3,144,987 1,030,348 1,030,348
Closing balance for cash and cash equivalents, net 2,823,556 1,387,738 3,144,987

Additional information to the statement of cash flows

Interest income received 232,243 256,722 325,481

Interest expense paid -79,882 -103,218 -81,553

 

*Unaudited figures, to be read in conjunction with NIB's audited financial statements for 2016.

The cash flow statement has been prepared using the indirect method and cash flow items cannot be directly concluded from the statements of financial position.

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