12 Sep 2022
NIB finances the digital transformation of the Nordics’ leading cash handling company
NIB and the Swedish cash handling company Loomis AB have signed an 8-year loan of SEK 600 million (approx. EUR 55.9 million) to finance investments in digitalisation.
“Our continued cooperation with Loomis follows the ever increasing need for digital transformation in the financial sector. The investments will extend the company’s offerings and help Loomis become an even more innovative, client-centric and higher added-value company,” says André Küüsvek, NIB President & CEO.
Loomis is a leading specialist in cash handling, offering safe and effective solutions for payments and distribution, handling, storage and recycling of cash and other valuables.
The proceeds from the loan will be used towards investments that the company has, and are planning to carry out, during 2021–2025, to further strengthen its ongoing digital transformation. Such investments include, for example, setting up data centres and cloud-based digital services, data analytics tools, enterprise resource planning, ATM solutions, SafePoint solutions as well as continued development of anti-money laundering platforms.
In 2014, NIB signed the first loan with Loomis, financing its business expansion through an acquisition of a Swiss valuables logistics firm.
Loomis operates over 400 branch offices in more than 20 countries around the world, with headquarters in Stockholm. The company employs some 25,000 people worldwide.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact
Frank Reichelt, Senior Banker, Services & Consumer, at +358 10 618 0309, firstname.lastname@example.org
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