17 Sep 2020
EUR 24.77 million
Financial institutions and SMEs
|Date of agreement:||20 Oct 2017|
|Customer:||Sparebank 1 SR-Bank ASA|
|Amount in EUR:||EUR 120 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
This loan programme will help finance investments and environmental projects of small and medium-sized enterprises (SMEs) and small mid-cap companies in Norway.
Corporate clients account for slightly less than half of SR-Bank’s loan book. The most important sectors are real estate, offshore oil and gas, industry and power, and water supply. Most of the bank’s corporate clients are SMEs or small mid-caps. Sparebank 1 SR-Bank is based in Stavanger and has 53 branches in the counties of Rogaland, Hordaland and Agder. It is publicly listed and ranks as Norway’s largest regional savings bank by assets.
The loan programme may improve the financial sector’s functioning by facilitating access to financing for SMEs and small mid-caps. The projects to be funded should fulfil NIB’s mandate criteria for SMEs and small mid-caps. Improved access to financing will raise productivity and increase the competitive pressure on the market and efficiency.
Within the scope of its credit policy, Sparebank 1 SR-Bank ensures that the necessary environmental permits are in place for projects selected for financing under this loan programme.