Nordic Investment Bank recorded EUR 217 million profit in 2013 despite the stagnant investment climate

Helsinki, Finland, 13-3-2014 — /EuropaWire/ — In 2013, NIB recorded a profit of EUR 217 million. Despite the stagnant investment climate, NIB’s new lending reached nearly EUR 2 billion and it was allocated to projects that are relevant to the competiveness and environment of the Nordic–Baltic region. Based on the financial results, NIB’s Board of Directors proposes EUR 55 million being paid out as dividends to the member countries.

“Despite the challenging economic environment, NIB achieved strong financial results. The stronger we are, the better possibilities we have to finance projects fulfilling our mission. We also managed to increase our customer base, as half of all new loan agreements were signed with new customers,” says Henrik Normann, President & CEO of NIB.

During the year, the Bank signed loan agreements for a total of EUR 1,810 million (2012: EUR 2,366 million). The disbursements of loans totalled EUR 1,922 million (2012: EUR 2,355 million). The lower outcome was the result of the continued low growth in the major part of the member area as well as improved liquidity in the financial markets. Impairment charges decreased to EUR 15 million (2012: EUR 56 million).

NIB reviews all projects from a sustainability and mandate perspective. Of the total new lending, 98% was rated “good” or “excellent” on contributing to competitiveness and the environment of the Nordic and Baltic countries. NIB continued financing investments in infrastructure and innovation, as well as projects promoting resource efficiency and transition towards low-carbon economy.

In 2013, the new debt issues amounted to EUR 4.1 billion. Among the forty-two funding transactions issued during the year, the Bank realised its so far largest transaction—a three-year, USD 2 billion global benchmark bond. Two NIB Environmental Bonds continued the Bank’s programme offering investors an opportunity to fund projects with positive environmental impact.

NIB recorded a profit of EUR 217 million (2012: EUR 209 million). The Board of Directors proposes to the Board of Governors that EUR 55 million being paid as dividends to the Bank’s member countries for the year 2013.

“We believe that improvements in the region’s capital investment will positively affect the demand for NIB loans in the coming years. NIB’s role is to complement other financial sources, such as commercial banks,” says Mr Normann.

More information is available on NIB’s Annual Report for 2013.

Key figures
in million EUR unless otherwise noted

2013 2012
Net interest income 244 252
Profit 217 209
Loans disbursed 1,922 2,355
Loan agreements 1,810 2,366
Loans outstanding and guarantees 14,667 15,131
New debt issues 4,080 4,355
Debts evidenced by certificates 18,421 20,332
Total assets 23,490 25,983
Equity/total assets 12,1% 10.3%

The Nordic Investment Bank (NIB) is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.

For further information, please contact

Mr Henrik Normann, President & CEO, at +358 10 618 001, info@nib.int

Mr Jukka Ahonen, Director, Head of Communications, at +358 10 618 0295, jukka.ahonen@nib.int

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