Oma Säästöpankki Oyj
| Date: | 18 Oct 2018 |
|---|---|
| Country: | Finland |
| Customer: | Oma Säästöpankki Oyj |
| Amount in EUR: | EUR 35 million |
| Maturity: | 7 years |
| Business sector: | Financial Institutions |
Project
The loan has been provided to Oma Säästöpankki Oyj for onlending to small and medium-sized enterprises and small midcaps in Finland.
The funds for the programme are further earmarked for projects that generate positive environmental effects, such as renovation measures that increase the energy efficiency of buildings.
This is the second loan programme that Oma Säästöpankki has agreed with NIB; the first was signed in October 2015. The first facility was fully allocated to five projects in the SME sector.
Oma Säästöpankki Oyj is the largest savings bank in Finland, with approximately 135,000 customers. Oma Säästöpankki operates 40 branches, and has its registered office in Seinäjoki, western Finland.
Fulfilment of NIB's mandate
The objective of the lending facility is to alleviate credit constraints faced by smaller businesses and to promote productivity growth. The majority of Oma Säästöpankki’s corporate clients belong to the SME sector. The bank finances projects e.g. within light industry, transportation and logistics, agriculture and forestry, and construction. Companies eligible for financing under the loan facility are required to conform to NIB’s criteria for SMEs.
Sustainability summary
Projects to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines. Oma Säästöpankki will screen and approve projects that are to receive funding under the NIB-financed loan facility.
