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-Dec 2017 Jan-Dec 2016

Interest income 300,116 311,856
Interest expense -61,793 -70,047
Net interest income 238,323 241,809

Commission income and fees received 8,536 13,124
Commission expense and fees paid -2,574 -2,025
Net fee and commission income 5,963 11,099

Net profit/loss on financial operations 17,563 23,292
Foreign exchange gains and losses -616 22
Total operating income 261,233 276,222

Expenses
General administrative expenses
Personnel expenses -30,774 -28,637
Other administrative expenses -12,424 -13,617
Depreciation -1,675 -2,319
Total operating expenses -44,873 -44,573

Profit before net loan losses 216,359 231,649
Net loan losses -5,378 -19,839
Net profit for the year 210,981 211,810



Other comprehensive income
Items that will not be reclassified to income statement
Fair value hedges
Valuation of cross currency basis spread 25,167 -28,202

25,167 -28,202

Total comprehensive income 236,148 183,608

 

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Statement of financial position

EUR 1,000 31 Dec 2017 31 Dec 2016
Assets
Cash and cash equivalents 4,736,109 4,455,860
Financial placements

Placements with credit institutions 8,771 8,771

Debt securities 6,594,935 6,572,244

Other 16,395 18,901

6,620,101 6,599,916

Loans outstanding 17,231,623 16,640,030
Intangible assets 5,320 938
Tangible assets, property and equipment 30,286 26,723
Other assets

Derivatives 1,027,915 2,156,921

Other assets 29,399 12,589

1,057,314 2,169,510
Accrued interest and fees receivable 272,045 285,353
Total assets 29,952,798 30,178,330








Liabilities and equity
Liabilities
Amounts owed to credit institutions

Short-term amounts owed to credit institutions 562,823 1,310,873

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

580,150 1,328,846

Repurchase agreements 99,490 -
Debts evidenced by certificates

Debt securities issued 23,934,066 23,825,644

Other debt 65,688 81,745

23,999,754 23,907,389
Other liabilities

Derivatives 1,597,451 1,444,341

Other liabilities 10,190 11,355

1,607,641 1,455,696
Accrued interest and fees payable 209,511 211,294
Total liabilities 26,496,545 26,903,225

Total equity 3,456,253 3,275,105

Total liabilities and equity 29,952,798 30,178,330

 

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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 year - - - - 211,810 - 211,810
Other comprehensive income - - - - - -28,202 -28,202
Total comprehensive income 0 0 0 0 211,810 -28,202 183,608
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 DECEMBER 2016 418,602 686,325 1,540,651 445,919 211,810 -28,202 3,275,105
Profit for the year - - - - 210,981 - 210,981
Other comprehensive income - - - - - 25,167 25,167
Total comprehensive income 0 0 0 0 210,981 25,167 236,148
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 DECEMBER 2017 418,602 686,325 1,697,461 445,919 210,981 -3,035 3,456,253



Proposed appropriation of the year’s profit 2017 2016
EUR 1,000
Appropriations to credit risk reserve funds

General Credit Risk Fund 155,981 156,810
Appropriation to dividend payment 55,000 55,000
Profit for the year 210,981 211,810

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Cash flow statement 

 

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

Net profit for the year 210,981 211,810


Adjustments:

Unrealised gains/losses of financial assets held at fair value -15,434 1,548

Depreciation and write-down in value of tangible and intangible assets 1,675 2,319

Change in accrued interest and fees (assets) 13,308 13,625

Change in accrued interest and fees (liabilities) -1,783 -11,506

Impairment of loans 5,378 19,839

Adjustment to hedge accounting 5,927 -4,271

Other adjustments to the year´s profit 2,581 -628

Adjustments, total 11,653 20,926


Lending

Disbursements of loans -3,146,630 -3,373,252

Repayments of loans 1,831,788 2,464,579

Capitalisations, redenominations, index adjustments, etc. -588 -32

Exchange rate adjustments 620,015 -110,135

Lending, total -695,384 -1,018,840

Cash flows from operating activities, total -472,750 -786,103

Cash flows from investing activities

Placements and debt securities

Purchase of debt securities -2,229,069 -2,287,945

Sold and matured debt securities 2,034,312 1,843,682

Placements with credit institutions - -850

Other financial placements 3,000 2,714

Exchange rate adjustments, etc. 167,559 -47,891

Placements and debt securities, total -24,198 -490,290


Other items

Acquisition of intangible assets -4,382 -938

Acquisition of tangible assets -5,239 -682

Change in other assets -16,461 10,698

Other items, total -26,082 9,078

Cash flows from investing activities, total -50,280 -481,212

Cash flows from financing activities

Debts evidenced by certificates

Issues of new debt 5,942,745 6,700,059

Redemptions -3,753,856 -3,823,944

Exchange rate adjustments -1,990,713 380,563

Debts evidenced by certificates, total 198,177 3,256,678


Other items

Long-term placements from credit institutions -645 -27

Change in swap receivables 1,056,858 265,363

Change in swap payables 256,161 -86,468

Change in other liabilities -3,711 1,409

Dividend paid -55,000 -55,000

Other items, total 1,253,662 125,277

Cash flows from financing activities, total 1,451,839 3,381,955

CHANGE IN CASH AND CASH EQUIVALENTS, NET 928,810 2,114,639

Opening balance for cash and cash equivalents, net 3,144,987 1,030,348
Closing balance for cash and cash equivalents, net 4,073,797 3,144,987

Additional information to the statement of cash flows

Interest income received 313,424 325,481

Interest expense paid -63,576 -81,553

 

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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