All agreed loans

Iceland. Landsbankinn hf.

Date of loan: 27 Jun 2017
Country: Iceland
Customer: Landsbankinn hf.
Amount in USD: USD 75 million
Amount in EUR: EUR 66.55 million
Maturity: 7 years
NACE sector / loan type: Loan programme
Business area: Financial institutions and SMEs

Project

The financing provided under this loan programme will be onlent to small and medium-sized enterprises (SMEs) in Iceland for investments and environmental projects. The funds will be allocated to projects that fulfil NIB’s mission.

Landsbankinn is well equipped to onlend the funds, as corporates command 63% of its total loan portfolio and most of the corporate clients are SMEs. Fisheries, tourism and real estate are the largest sectors represented in the bank’s portfolio.

The previous loan programme with Landsbankinn, signed in 2015, has been fully allocated to SME investments in Iceland.

Landsbankinn hf. is the largest universal bank in Iceland. It was established in 2008 and is majority-owned by the National Treasury of Iceland.

Fulfilment of NIB's mandate

The loan programme is set to alleviate credit constraints for SMEs and facilitate their productivity growth. The loan allocations are expected to fulfil the eligibility criteria for loans and loan programmes to SMEs and small mid-caps.

Sustainability summary

Each allocation of funds under the loan programme will be made in accordance with NIB’s Sustainability Policy and Guidelines.

Press release

Norræni fjárfestingabankinn veitir Landsbankanum nýtt lán til fjármögnunar lítilla og meðalstórra fyrirtækja