In 2012, the Nordic Investment Bank (NIB) saw further growth of its lending activities. This reflects the continued need for long-term financing in the Nordic-Baltic region. The annual profit of EUR 209 million builds a solid platform for supporting major investment projects.
In 2012, the Bank signed 42 loan agreements for a total of EUR 2,366 million. The disbursement of loans rose to EUR 2,355 million from EUR 1,946 million in 2011. The compliance of the new loans with the requirements of the Bank’s mandate—in terms of high impact on competitiveness and the environment—was close to 100%. Loans were provided for projects within the sectors of power generation and supply, renewable energy, sustainable transport infrastructure, research and development and other sectors.
NIB borrowed in the international capital markets a total of EUR 4.4 billion in eight currencies through 28 transactions. The funding costs of the Bank, as a triple-A issuer, were stable during 2012 and contributed positively to the Bank’s higher net interest income.
NIB recorded a profit of EUR 209 million, compared with a profit of EUR 194 million in 2011. The change in profit mainly reflects higher net interest income and positive valuations on financial instruments in the Treasury portfolios.
"Although the Bank’s purpose is not to maximise earnings, we also had a good year financially. This shows the significance of NIB as a financier of major projects in the Nordic-Baltic region and gives us a good platform to continue to fulfil our mandate," says Henrik Normann, NIB President & CEO (since April 2012), in the video presentation of the Bank’s annual results.
The Board of Directors proposes to resume dividend payments to the Bank's owners, the Nordic and Baltic countries, in an amount of EUR 52 million for the financial year 2012.
NIB assumes that the macroeconomic outlook will remain uncertain and the supply of long-term financing will be limited. In these circumstances in 2013, NIB will continue to play a significant role as a long-term lender in the Nordic-Baltic region.
More information is available in NIB's Annual Report for 2012.
Key figures in EUR million unless otherwise noted: See Attachment.
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, NIB 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
