Nordic Investment Bank posted EUR 250m profit last year

On March 22, the Board of Governors of the Nordic Investment Bank (NIB) held its annual meeting in Tallinn, Estonia.

The governors approved the Bank’s annual accounts for 2023 and a payment of EUR 63 million as dividends to the Nordic and Baltic owner countries, which include Latvia.

The Board, consisting of member country ministers of finance, industry and economic affairs, also offered guidance for NIB’s priorities towards a sustainable, innovative and resilient Nordic-Baltic region. Finance Minister Arvils Ašeradens was resent to represent Latvia.

In 2023, NIB paid out EUR 3.4 billion in loans. NIB’s net profit increased by 80% from EUR 139.3 million in 2022 to EUR 250.7 million in 2023. The strong financial results allowed the Bank to distribute EUR 63 million as dividends to its Nordic and Baltic member states.

“The dividend payment is a testament to NIB’s financial strength despite a turbulent economic environment. It also underlines the Bank’s ability to add value not only through leveraging investments in the region but also by bringing the capital back to the state budgets,” said Mart Võrklaev, Chair of the Board of Governors of NIB and Minister of Finance of Estonia.

The meeting in Tallinn was the first to be held in person since Vilnius 2013. Three themes –climate and nature, productivity and innovation, security and resilience – were identified as the most critical future focus areas. The Governors released a statement to express their support for these priorities in guiding NIB’s operations, which can be read below.

“NIB has acted as an efficient financing vehicle, aligning its activities with the policy priorities of its owner countries since its foundation almost 50 years ago. By adapting to new challenges and focusing on additionality, NIB’s financing can further improve prosperity and cooperation within the region,” the Governors write.

Statement by the Governors of the Nordic Investment Bank (PDF)

NIB is 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.

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