NIB publishes Interim Financial Report January–June 2019

On 30 August, NIB published its 6-month interim financial report. During the half year ending 30 June 2019, a total of EUR 1,339 million in new loans were agreed and EUR 1,484 million were disbursed.

“Demand for long-term financing from NIB is still strong. The disbursements in the first half of the year were, as anticipated, lower than the historically high level of 2018”, says Henrik Normann, NIB’s President & CEO.

The net profit for the period amounted to EUR 95 million, down from EUR 110 million for the corresponding period of the previous year.

During the first six months of the year, the Bank raised EUR 3 billion in new funding (January–June 2018: EUR 5 billion). In February, NIB listed its inaugural SEK 2 billion Nordic–Baltic Blue Bond for water management and protection on Nasdaq Stockholm. The listing marked the first blue bond on NASDAQ’s Nordic Sustainable Debt Market.

At its annual meeting on 24 May 2019, NIB’s Board of Governors approved amendments to NIB’s Statutes, which will be submitted to undergo the required national procedures in the Bank’s member countries.

“The banking industry has undergone significant changes since the last financial crisis in terms of capital and risk management and regulatory oversight. In order to ensure continued adherence with sound banking principles, the Bank is in the process of changing its Statutes”, Mr Normann concludes.

NIB’s Interim Financial Report January – June 2019 (PDF)

Key figures and ratios
(in EUR million unless otherwise specified)	Jan-Jun 2019	Jan-Jun 2018	Jan-Dec 2018
Net interest income	107	112	223
Profit before net loan losses	91	109	167
Net profit	95	110	173
Loans disbursed	1,484	2,153	4,047
Loans agreed	1,339	1,896	4,330
Mandate fulfilment (%)	100%	87%	91%
Loans outstanding	18,715	18,267	19,065
Total assets	31,708	31,157	31,710
New debt issues	2,895	5,203	6,620
Debts evidenced by certificates	25,598	25,132	25,651
Total equity	3,641	3,518	3,578
Equity/total assets (%)	11.5%	11.3%	11.3%
Profit/average equity (%)	5.2%	6.3%	4.9%
Cost/income (%)	20.1%	17.0%	20.6%
Number of employees (average during the period)	198	196	197

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

Mr Björn Ordell, Head of Risk & Finance and CFO, at +358 10 618 0210, bjorn.ordell@nib.int

Mr Jukka Ahonen, Head of Communications, at +358 10 618 0295, jukka.ahonen@nib.int