The NIB signed a total of EUR 2,642 million in new lending and disbursed EUR 1,896 million, compared to EUR 1,241 million and EUR 1,670 million respectively in the same period in 2023.
“The Bank’s financial results continued the positive trend we saw during the first quarter of the year. Our earnings continued to improve, and net interest income increased by 15.8% compared to the same period a year ago. This strong financial position is the foundation that will enable us to deliver our mission” said André Küüsvek, NIB President and CEO.
During the January–June period, new lending was distributed across various sectors and countries, including the Bank’s first disbursements to 'InvestEU' loans. Close to 100% of loans disbursed financed projects that achieved a “good” or “excellent” mandate rating, exceeding the target of 95%.
“I’m pleased to say that after the busy spring period, our new signed lending reached over EUR 2.6 billion. The signed loans ranged from the healthcare sector to SMEs and to investments related to the green transition, supporting our customers and the whole Nordic-Baltic region with a high impact,” said Küüsvek.
The Bank has raised EUR 6.4 billion in new funding so far in 2024. This includes a five-year USD 1.5 billion global benchmark bond with a final orderbook of more than USD 4.5 billion, the largest ever for NIB.
As recently reported by LSM, the first six months of the year also saw NIB sign an agreement relating to its new office in Rīga. Latvia joined NIB in 2005 with the other Baltic countries. The Bank has been investing in the country since 1995, providing approximately EUR 1.6 billion in financing to more than 125 projects. Some of NIB’s latest financed projects in Latvia are Rigas Siltums’ and Latnevergo’s investment programs, navigation upgrades at Riga Airport, and the Ķekava bypass road project.
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 both inside and outside the member countries. Latvia holds 1.3% of the NIB's shares with a value of 111 million euros.
NIB results Jan-Jun 2024
| Key figures and ratios | |||||
| In millions of euro unless otherwise stated | Jan–Jun 2024 | Jan–Jun 2023 | YoY % change | Jan–Dec 2023 | |
| Net interest income | 162 | 139 | 15.8% | 299 | |
| Profit before net loan losses | 147 | 123 | 19.0% | 248 | |
| Net profit | 143 | 127 | 12.3% | 251 | |
| Lending disbursed | 1,896 | 1,670 | 13.5% | 3,446 | |
| New signed lending | 2,642 | 1,241 | 112.9% | 2,829 | |
| % of loans achieving good or above mandate * | 99.9% | 99.8% | 0.1% | 99.8% | |
| Lending outstanding | 22,182 | 21,326 | 4.0% | 21,924 | |
| Total assets | 41,615 | 39,102 | 6.4% | 39,593 | |
| New debt issuance | 6,445 | 4,689 | 37.4% | 7,152 | |
| Debts evidenced by certificates | 33,953 | 31,022 | 9.4% | 32,190 | |
| Total equity | 4,424 | 4,206 | 5.2% | 4,350 | |
| Equity/total assets ** | 10.6% | 10.8% | -1.2% | 11.0% | |
| Net profit/average equity ** | 6.5% | 6.2% | 6.1% | 5.9% | |
| Cost/income ** | 17.1% | 18.5% | -7.6% | 18.8% | |
| Number of employees at period end | 257 | 237 | 8.4% | 244 | |
