Finland. Säästöpankki Optia
| Date of agreement: | 06 Mar 2018 |
|---|---|
| Country: | Finland |
| Customer: | Säästöpankki Optia |
| Amount in EUR: | EUR 30 million |
| Maturity: | 7 years |
| NACE sector / loan type: | Loan programme |
Project
The loan has been provided to Säästöpankki Optia for onlending to SMEs and for financing environmental projects.
Under the loan facility, Säästöpankki Optia will mainly provide financing to SMEs in eastern, central and northern Finland, which include customers in the agricultural and forestry sectors.
This is the third loan programme NIB has signed with Säästöpankki Optia; the first facility was agreed in 2013, and a second followed in 2014. In total, the two previous programmes provided financing to 258 projects in the SME sector.
Säästöpankki Optia is the largest of the 23 savings banks that are members of the Finnish Savings Banks Group. By the end of June 2017, the bank had approximately 75,884 customers in eastern, central and northern Finland. Säästöpankki Optia currently operates 17 branch offices.
Fulfilment of NIB's mandate
The loan facility is expected to alleviate credit constraints for small and medium-sized companies and to support environmental projects in a number of areas. 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. Säästöpankki Optia will screen and approve projects that are to receive funding under the NIB-financed loan facility.
