18 Oct 2018

NIB and Oma Säästöpankki finance SME investments in Finland

NIB and Finnish Oma Säästöpankki Oyj have signed a seven-year loan programme of EUR 35 million for onlending to small and medium-sized enterprises and for financing small-scale environmental projects.

The loan facility is targeted at small and medium-sized companies and small midcaps in Finland. The programme will also provide financing for small-scale environmental investments, such as renovation projects aimed at increasing energy efficiency in residential buildings.

The majority of Oma Säästöpankki’s corporate clients are in the SME sector, or are agriculture and forestry entrepreneurs. The bank finances projects e.g. within light industry, transportation and logistics, agriculture, forestry, and construction.

“This is the second loan programme agreed between Oma Säästöpankki and NIB, and we are pleased to continue the cooperation. The facility will help improve access to financing and help alleviate credit constraints for SMEs”, says Henrik Normann, NIB President & CEO.

“We are happy to announce that NIB has again selected us as their partner. Small and medium-sized enterprises represent a significant part of our growing customer base in Finland. This new loan programme allows us to better allocate funds to the improved competitiveness, success and sustainable development of Finnish SMEs”, says Pasi Sydänlammi, managing director of Oma Säästöpankki.

Projects eligible for financing under the loan facility are required to conform to NIB’s criteria for SMEs.

Oma Säästöpankki Oyj is the largest Finnish savings bank, and serves its 135,000 customers via 40 branches and 270 employees. Oma Säästöpankki is owned by the Finnish savings bank foundations and Oma Cooperatives.

NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Nordic Investment Bank

Ms Taina Ulkoniemi, Senior Manager, Origination, at +358 10 618 0231, taina.ulkoniemi@nib.int

Ms Lisa-Maria Altenberger, Communications Unit, at +358 10 618 0234, lisa-maria.altenberger@nib.int

Oma Säästöpankki Oyj

Minna Sillanpää, Chief Communications Officer, at +358 50 66592, minna.sillanpaa@omasp.fi