16 Jan 2020
EUR 100.3 million
Industries and services
NIB published its interim financial report for the nine-month period ending 30 September 2019. A total of EUR 1,608 million in new loans were agreed and EUR 1,799 million were disbursed.
As expected, the disbursements were lower than the historically high level of 2018. The net profit for the period amounted to EUR 123 million, down from EUR 141 million for the corresponding period in 2018.
NIB’s mission is to finance projects that contribute to the productivity and benefit the environment of the Nordic and Baltic countries. Before approval is given in each individual case, all eligible projects are evaluated and rated against criteria based on the Bank’s mission. By 30 September, loans achieving a “good” or “excellent” mandate rating accounted for 99% of loans agreed.
At its annual meeting on 24 May 2019, NIB’s Board of Governors approved amendments to the Bank’s statutes, which will be submitted to undergo the required national procedures of member countries. The intent of the amendments is to ensure continued adherence with sound banking principles and maintain NIB’s relevance to fulfil its mandate.
By end of September 2019, the Bank has raised EUR 3.8 billion in new funding through 39 new issues.
In September, NIB also launched a joint collaboration with Japan’s Government Pension Investment Fund (GPIF) to foster the growth of sustainable finance markets. GPIF requires its asset managers to include environmental, social and governance aspects into their investment decisions. The Fund is recognising and supporting investments in NIB’s Environmental Bond programme.
Key figures and ratios
|(in EUR million unless otherwise specified)||Jan-Sep 2019*||Jan-Sep 2018||Jan-Dec 2018|
|Net interest income||160||167||223|
|Profit before net loan losses||118||136||167|
|New debt issues||3,847||6,224||6,620|
|Debts evidenced by certificates||26,287||24,935||25,651|
|Number of employees (average during the period)||198||197||197|
* Unaudited figures, to be read in conjunction with NIB's 2018 audited financial statements
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, email@example.com
Mr Jukka Ahonen, Head of Communications, at +358 10 618 0295, firstname.lastname@example.org