7 Nov 2019
EUR 150 million
Energy and water
|Date of agreement:||16 May 2018|
|Customer:||Brage Finans AS|
|Amount in NOK:||NOK 175 million|
|Amount in EUR:||EUR 18.28 million|
|NACE sector / loan type:||Loan programme|
|Business area:||Financial institutions and SMEs|
The loan programme has been provided for financing equipment leasing for small and medium-sized enterprises in Norway. Brage Finans is a leasing company, headquartered in Bergen, established by ten savings banks outside the savings banks alliances in 2010. Two more savings banks joined the ownership group in 2017, so the company is now owned by twelve independent savings banks. The largest of them are Sparebanken Vest, Sparebanken Sør, Fana Sparebank and Helgeland Sparebank. Of Brage’s customer base, the biggest sectors are construction, transport, service and industry.
The loan programme is expected to improve SMEs’ access to financing and indirectly facilitate productivity growth.
Each allocation will be assessed on the basis of its potential environmental and social impact in accordance with NIB’s Sustainability Policy and Guidelines. Onlending to projects in the oil and gas sector is excluded in this loan programme.