Our year in brief
This is our year in brief. Here, you will find NIB’s annual report, our interim reports and other highlights that happen throughout
the year.
NIB delivers solid Q1/2025 financial results
After a strong end to 2024, the Bank’s activity level in the first quarter was somewhat lower than during the same period the previous year. EUR 0.5 billion was disbursed in the first quarter, with 97.1% of projects fulfilling our mandate, either in improving productivity or benefiting the environment. NIB’s loans remain distributed across various sectors and countries. During the first three months, new lending signed amounted to EUR 0.6 billion.
Due to higher lending volumes, NIB’s core earnings in the form of net interest income increased by 3.2% compared with first quarter last year. Net profit decreased by 14.4% due to high valuation gains in the first quarter last year.
NIB’s President and CEO, André Küüsvek said: “Despite the turbulence in financial markets driven by political tensions, this was a solid quarter for NIB. Our long-term financing continues to strengthen our region’s resilience with loans ranging from energy security to digital infrastructure, all supporting our clients’ ambitions and contributing to a prosperous and safe Nordic-Baltic region.”
Annual Report 2024
In 2024, we continued to deliver on our mission and faced strong demand for our sustainable long-term lending despite a somewhat dampened investment climate in the region. NIB paid out EUR 4.4 billion to its clients (EUR 3.4 billion in 2023). Only in 2020 have disbursements been higher due to Covid-19 response.
The Bank’s net profit for the year increased to EUR 256 million, driven by the record high net interest income. NIB’s Board of Directors proposes to distribute EUR 76 million in dividends to the Bank’s Nordic and Baltic member countries.
“As we reflect on the past year, it is evident that the world continues to be characterized by significant uncertainty. With the ongoing war by Russia in Ukraine, the geopolitical tensions continue to affect our lives, and at the same time the external developments have brought our region closer together. For us at NIB it has been clear that we need to work harder to promote the safety and security of the Nordic-Baltic region without losing sight of investments into our productivity and the environment,” writes André Küüsvek, NIB President and CEO.
A large share of disbursements went to the energy sector reflecting the Nordic-Baltic region’s climate goals and accelerated transition towards energy independence and security. Almost all mandate rated projects were assessed as having a high impact on the region’s productivity and/or environment.
The Bank also paid out significant amounts to electricity transmission and distribution developments, transportation related projects and R&D programmes of large industrial member country companies. During 2024, NIB also disbursed a record amount of sustainability-linked loans.
During the year, NIB raised EUR 1.9 billion more in funding compared to 2023. The growth was mainly due to higher redemptions and high lending activities. By the end of 2024, NIB’s total outstanding debt financing amounted to EUR 36 billion.
2024 marked a record high total NEB issuance volume and the largest single NEB issuance ever launched. During the year, NIB introduced an updated NEB framework, reflecting the latest developments and finetuning the scope of eligible categories. The framework received a “Dark Green” Second Opinion from S&P Global Ratings.
In the Board of Governors meeting in March, the Nordic-Baltic owner countries called on the Bank to maximise its contribution to the region’s productivity and innovation, climate and nature, and security and resilience.
As security and resilience is a new area for NIB, the Bank updated its Sustainability Policy and started to build a pipeline for possible defence-related projects.
In 2024, NIB continued to implement the strategy approved by the Board of Directors at the end of 2021. By building on its AAA/Aaa credit rating, NIB demonstrated its ability to navigate the challenging economic landscape, achieving both high disbursements and record net interest income.
NIB and the Republic of Latvia signed a Host Country Agreement to formalise the status of NIB’s regional hub in Riga. During 2025, NIB will operationalise the hub with the goal of increasing its activity in the Baltics and promoting cross-border investment in the Nordic-Baltic region.
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Contact us
Kim Skov Jensen
CFO, Head of Treasury & Finance
+358 10 618 0209
kim.jensen@nib.intJukka Ahonen
Head of Communications
+358 10 618 0295
jukka.ahonen@nib.intJeanette Vitasp
Head of Lending
+358 10 618 0222
jeanette.vitasp@nib.intLuca De Lorenzo
Head of Sustainability and Mandate
+358 10 618 0297
luca.delorenzo@nib.int