NIB lending organises around industry sectors

NIB has reorganised its lending department to strengthen its presence and enhance the service to its clients.

As of August 2012, the origination of loans and management of client relationships is handled by five industry groups: Financial Intermediaries & SMEs, Energy & Environment, Infrastructure and Telecom, Heavy Industry & Mechanical Engineering, and Consumer Goods & Services.

These groups serve all clients, both in the Bank’s member countries and beyond. The previous division of lending operations between member and non-member countries has been discontinued.

The new origination unit will be co-managed by the two former heads of origination until Lars Selenius’ forthcoming retirement, after which Søren K. Mortensen will continue as Head of Origination.

“The new lending structure enables NIB to deepen the understanding of the key sectors in the economies. By working across the full range of member countries and other countries of operation, the sector groups will be better equipped to identify opportunities and deal with challenges in an increasingly integrated economic environment,” says Thomas Wrangdahl, First Vice-President and NIB’s new Head of Lending.

As a consequence of the new organisational set-up, NIB’s offices in Copenhagen, Stockholm and Oslo will be closed.

“As NIB now operates on a cross-cutting industry sector basis, there is a reduced benefit from small local offices which cannot have the full scope of expertise. Thus in order to maximise efficiency and professional interaction, the Bank has decided to concentrate its operations to its headquarters. This does not imply fewer client contacts. On the contrary, there will be more proactive communication than before,” says Mr Wrangdahl.

NIB will continue with its local representatives in China and Russia due to the special nature of the Bank’s operations in these countries.