Finland. Nooa Säästöpankki Oy
| Date of agreement: | 14 Dec 2017 |
|---|---|
| Country: | Finland |
| Customer: | Nooa Säästöpankki Oy |
| Amount in EUR: | EUR 10 million |
| Maturity: | 7 years |
| NACE sector / loan type: | Loan programme |
Project
The loan has been provided to Nooa Säästöpankki Oy for onlending to SMEs and for financing small-scale energy efficiency projects.
Under the loan facility, Nooa Säästöpankki will also finance renovation projects aimed at increasing the energy efficiency of residential buildings.
Nooa Säästöpankki Oy (Nooa Savingsbank Bank Ltd) was founded in 2003. It is the third largest bank of the Savings Bank Group in Finland measured by total assets (as of 31 December 2016). Nooa Savings Bank has offices in Helsinki, Espoo, Vantaa and Central Uusimaa. The Bank’s CEO is Esa Jäntti. At the end of June 2017, the bank had 28,900 customers in the Helsinki metropolitan area.
Fulfilment of NIB's mandate
The loan facility is expected to alleviate credit constraints for small and medium-sized companies and to support small-scale environmental projects in a number of areas, including the housing sector. Companies eligible for financing under the loan facility are required to conform to NIB’s criteria for SMEs.
Sustainability summary
Projects to be financed through a financial intermediary must fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines. Nooa Säästöpankki will screen and approve projects that are to receive funding under the NIB-financed loan facility. The bank is capable of evaluating the potential environmental and social impact of its onlending business in accordance with NIB’s requirements.
