All agreed loans

Norway. SpareBank 1 SMN

Date of loan: 8 Nov 2018
Country: Norway
Customer: SpareBank 1 SMN
Amount in NOK: NOK 1,000 million
Amount in EUR: EUR 104.75 million
Maturity: 6 years
NACE sector / loan type: Loan programme
Business area: Financial institutions and SMEs

Project

The loan has been provided to SpareBank 1 SMN for onlending to small and medium-sized enterprises (SMEs) and environmental projects in Norway.

SMN’s loan book includes SMEs in e.g. the real estate, agriculture, forestry, fisheries and transportation sectors in the counties of Trøndelag, Møre og Romsdal and Sogn og Fjordane.

The bank is currently developing new digital offerings and products for business and industry in order to better serve its clients.

SpareBank 1 SMN is an independent regional savings bank, and the third-largest savings bank in Norway. The bank has approximately 221,000 retail customers and 20,000 corporate clients, mostly SMEs. SMN is a member of the SpareBank 1 Alliance, and is headquartered in Trondheim.

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. Companies eligible for financing under the loan facility are required to comply with NIB’s criteria for SME lending.

Sustainability summary

Projects that are financed through a financial intermediary are required to fulfil the sustainability requirements defined in NIB’s Sustainability Policy and Guidelines.

Press release

NIB og SpareBank 1 SMN signerer nytt låneprogram for mindre bedrifter