7 Sep 2021
EUR 49.73 million
During the first half of the year, NIB agreed a total of EUR 664 million in new loans and disbursed EUR 1,266 million to its clients. The net profit for the six-month period amounted to EUR 82.5 million.
On 1 April, André Küüsvek assumed office as NIB President & CEO, succeeding Henrik Normann who has retired from the Bank.
“The economic impact of Covid-19 has been alleviated by the unprecedented amount of monetary and fiscal stimuli increasing the global debt burden. The real economic effect of the virus is yet to be seen and this and future years may be even more challenging than 2020. NIB is well positioned to support member countries with these challenges due to its strong financial position and the statutory changes made in 2020,” says André commenting on the half-year results.
Download the interim financial report to learn more about NIB's activities and financial results.
During the first quarter of 2021, NIB agreed a total of EUR 256.8 million in new loans and disbursed EUR 725.3 million to its clients. The loan volumes are lower compared to the first quarter of 2020, but the decrease was expected after last year's record highs due to the Bank's response to the Covid-19 crisis.
The Bank issued its first Environmental Bond (NEB) for the year in March. With this transaction, NIB’s total environmental bond issuance surpassed EUR 5 billion.
In the same month, NIB joined the European Bank for Reconstruction and Development and the central banks of Estonia, Latvia and Lithuania in a joint effort to develop a regional market for commercial papers. As the first transaction under this framework, the Bank invested in the inaugural commercial paper issuance in the Baltics by Lithuania’s Maxima Grupė.
Download the interim management statement (unaudited) to learn more about NIB's activities and financial results.
“Although dealing with the coronavirus crisis is essential, it is of utmost importance that long-term challenges, such as climate change, shall not be forgotten. Financing jobs may come first and the green transition second during this crisis, but these two things need to go hand-in-hand in the long run. If we do not get the green transition right—that all of us feel included—the green transition could become detested, and not receive the support it needs. Equal economic opportunities are an important driver for productivity and long-term sustainable growth,” writes Henrik Normann, NIB's President & CEO in our Impact Report 2020.
Download the Report to learn more about the impact of our lending activities, Covid-19 response, environmental bonds and internal operations management.
The Report also includes our sustainability reporting according to Global Reporting Initiative, and our first attempts at providing information in accordance with the Principles for Responsible Banking and the Task Force on Climate-related Financial Disclosures.
In 2020, NIB’s business activities were shaped by the efforts to alleviate the effects of the COVID-19 pandemic. The Bank increased its lending significantly by providing Response Loans.
NIB disbursed a total of EUR 4,853 million, of which EUR 1,470 was paid out as Response Loans. 98% of the mandate-rated loans were assesed to have a "good" or "excellent" impact on productivity or the environment.
The Bank raised EUR 7.5 billion in new funding through 38 transactions. In order to finance the Response loans, NIB established a Response Bonds Framework and issued two Response Bonds.
The net profit came to EUR 165 million. The Bank did not record any realised loan losses.
EUR 4,853 million in loans disbursed
EUR 1,470 million in Response Loans
EUR 7.5 billion raised in new funding
98% mandate fulfillment
NIB's Nordic and Baltic owner countries have updated the Bank's Statutes. The amended Statutes are in force as of 29 July 2020.
“The banking world has changed immensely during the last ten years. By modernising the Statutes, we have adapted to the developments and secured our strong position for the future. The changes will ensure continued adherence with sound banking principles and help us to maintain our support for the sustainable growth of the Nordic and Baltic countries,” says Henrik Normann, NIB President & CEO.
Capital and liquidity management
Abolishment of PIL and MIL loan facilities and increase of authorised capital
Board of Governors Principles for Capital and Liquidity Management
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