Finland. Liedon Säästöpankki
| Date of agreement: | 12 Dec 2013 |
|---|---|
| Country: | Finland |
| Customer: | Liedon Säästöpankki |
| Amount in EUR: | EUR 10 million |
| Maturity: | 7 years |
| NACE sector / loan type: | Loan programme |
Project
The loan has been provided for onlending to projects in the SME sector to improve productivity or the environment. Also housing cooperatives and households will be eligible for financing small-scale environmental investments, resulting in energy efficiency or wastewater treatment. The projects to be funded in the SME sector must involve investments in tangible capital, such as machinery and equipment or production and/or service provision facilities. Investments in informations and communications technology or software and investments in research and development are also eligible.
Liedon Säästöpankki operates in the south-west of Finland and currently has about 54,200 customers, of which about 3,900 are corporate customers. Corporate lending amounts to approximately one third of its total loan portfolio, and is focused on SMEs, housing companies and agriculture.
Liedon Säästöpankki ranks as the second largest, in terms of total assets, of the 30 savings banks in the Finnish Savings Banks Group. Liedon Säästöpankki was established in 1895 and has 12 offices located in the south-western part of Finland.
Fulfilment of NIB's mandate
The loan programme is expected to improve access for SMEs to financing and facilitate growth of their productivity. This has the potential of increasing the competitiveness of the markets they are active in.
Sustainability summary
Liedon Säästöpankki has agreed to adhere to NIB’s Sustainability Policy and Guidelines for all funds allocated to projects that lead to a decrease in greenhouse gas emissions or a reduction in discharges of nutrients into the Baltic Sea. Liedon Säästöpankki will inform NIB about its loan allocations on an annual basis.
