Nordic Investment Bank reports strong loan demand

Take note – story published 1 year ago

During the first nine months of 2022, the Nordic Investment Bank – of which Latvia is a shareholder – signed a total of EUR 2,613 million in new loans and disbursed EUR 2,882 million, compared to EUR 880 million and EUR 1,646 million respectively in the same period in 2021.

The new loans will finance green construction, digitalisation, acquisitions and research and development, the bank said.

“Europe must step up its energy resilience and accelerate its transition to a low-carbon economy. In the home region of the Nordic Investment Bank we need to push even harder to build this resilience in a sustainable way.  As an international financial institution, it is our role to help our societies come out of this crisis stronger: from assisting our countries and companies in the Nordic-Baltic region in navigating between short-term solutions to survive the upcoming winter, to long-term climate action that will ensure renewable energy supply for generations to come,” said André Küüsvek, NIB President and CEO.

The Bank has raised EUR 8.1 billion in new funding by 30 September 2022, compared to EUR 6.1 billion in the same period in 2021. In the third quarter, NIB issued its second global USD benchmark for the year, a five-year USD 1.25 billion bond.

The net profit from the period January to September amounted to EUR 84 million compared to EUR 124 million in 2021. The decrease is mainly due to unrealised fair value losses on bonds in the liqudity buffer and lending labelled bonds, the bank said.

On 17 October, NIB launched a five-year SEK 2 billion Environmental Bond (NEB). This is the Bank’s third NEB of the year, following earlier issuances in DKK and EUR. With this transaction, NIB has issued environmental bonds in an amount close to EUR 1 billion in 2022 – this is the Bank’s highest green bond issuance over a course of one year.

NIB reports on the impact for each project financed and the aggregated impact for the seven different financing categories. The impact tables as well as the list of all projects financed are available on the Bank’s website.

The Interim Management Statement is available on NIB’s website. NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. NIB was established on 4 December 1975 through an intergovernmental treaty between Denmark, Finland, Iceland, Norway and Sweden. On 1 January 2005, Estonia, Latvia and Lithuania became members of the Bank. Latvia has a 1.3% share. NIB is headquartered in Helsinki – as you can see in the video above.

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