NIB and Bonum Bank finance SMEs in Finland

NIB and Finnish Bonum Bank Plc have established a long-term loan programme of EUR 35 million for onlending to SMEs and environmental projects in Finland.

Bonum Bank Plc is a deposit bank and wholly owned by the POP Bank Alliance Coop, the central institution of the Finnish POP Bank Group, which is an alliance of 26 member cooperative banks.

The seven-year loan programme will be used for onlending via the POP Bank Group’s member cooperative banks to finance investments of SMEs and small-scale environmental projects.

“SMEs are key drivers for entrepreneurship, growth and innovation in the Nordic–Baltic region. We hope that this loan programme with Bonum Bank will improve access to financing for SMEs in Finland”, says Henrik Normann, NIB President & CEO.

“The loan programme with NIB further improves our offering for SMEs and supports us in promoting their competitiveness. The financial success of small and medium-sized enterprises has a positive effect on their business environment, which is especially important in smaller communities,” says Timo Hulkko, Director at POP Alliance Group.

Bonum Bank Plc acts as the POP Bank Group’s central credit institution, providing liquidity and payment transfer services. The POP Bank Group currently has about 250,000 banking customers and operates 85 branch offices in 60 municipalities in Finland.

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

POP Bank Group:

Mr Timo Hulkko, Director, POP Bank Group, at +358 500 894 008, timo.hulkko@poppankki.fi