13 Dec 2018

NIB and Liedon Säästöpankki agree on second loan programme

NIB has signed a EUR 20 million loan programme with Liedon Säästöpankki for financing small and medium-sized enterprises (SMEs) and environmental projects in the south-western region of Finland.

In 2013, Liedon Säästöpankki and NIB established a EUR 10 million loan programme to on-lend funds to projects in the SME sector that improve productivity or the environment. That sum has been allocated to a total of 141 SMEs in the region. The new, EUR 20 million programme will therefore respond to the increasing demand for financing among Liedon Säästöpankki’s customers. 32% of the bank’s total lending is provided to companies and communities as well as to agriculture.

SME projects must involve investments in either machinery, equipment, production or service facilities and working capital. Investments in information and communications technology or software, and investments in research and development, are also eligible. In addition, environmental projects may be identified, e.g. small-scale energy efficiency projects.

“Despite the significant role that SMEs play in regional economy, they can still have challenges in obtaining sufficient funding. NIB's loan will enable Liedon Säästöpankki to increase its lending to SMEs, including agricultural and forestry entrepreneurs as well as housing corporations,” says Henrik Normann, President and CEO of NIB.

"In the past years, Liedon Säästöpankki has significantly increased its lending to SMEs, agricultural holdings and housing companies in its business region. In particular, the focus has been on corporate restructuring, investments and financing of housing construction. The collaboration with NIB will further strengthen our position as a financier for SMEs”, says Jukka Taimisto, Bank Manager at Liedon Säästöpankki.

Liedon Säästöpankki was established in 1895 and is the second largest bank in the Finnish Savings Banks Group. The bank's balance sheet is over 1 billion euros. Liedon Säästöpankki has 4,700 corporate and institutional customers and a total of 52,000 customers.

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

Ms Niina Rantti, Communications Officer, at +358 10 618 0265, niina.rantti@nib.int

Mr Jukka Taimisto, Bank Manager, at +358 50 554 2590, jukka.taimisto@saastopankki.fi