In 2015, NIB achieved an all-time high lending volume, showing year-on-year growth of nearly 20%. Both lending and treasury operations posted a net interest income higher than in the previous year. NIB’s profit amounted to EUR 215 million (2014: EUR 210 million). Based on last year’s financial results, the Bank’s Board of Directors is proposing to pay out EUR 55 million in dividends to the member countries.
The lending volume achieved last year was an all-time high for NIB. All projects financed by the Bank are rated for conformity with its mission to improve competitiveness or the environment of the Nordic and Baltic countries. Loans achieving a "good" and "excellent" rating accounted for 94% of the total amount of loans agreed last year.
The largest part of NIB’s loans was extended to finance technological innovations and investments in production facilities as well as corporate acquisitions in various industrial sectors. Other key areas of the Bank’s lending operations were infrastructure development, energy utilities, and financing small and medium-sized businesses through local financial intermediaries. One area of focus for lending in the energy sector was projects reducing the Nordic–Baltic region’s dependence on imported fuels.
In 2015, NIB raised EUR 4.3 billion in new funding, half of which was secured with two global benchmark transactions. The Bank continued its NIB Environmental Bond programme. Despite the low interest rate environment, NIB posted a EUR 215 million profit for 2015, up from EUR 210 million a year earlier. The profit reflected growth in net interest income in both lending and treasury operations, as well as lower loan impairment charges.
"The results of NIB’s operations prove the underlying strength of the Bank’s business strategy of supporting its customers’ investment projects by offering flexible, long-term financing", says Henrik Normann, NIB President & CEO.
On the result recorded for the year, the Board of Directors proposes to the Board of Governors that EUR 55 million be paid as dividends to the Bank’s member countries.
Key figures
in EUR million unless otherwise noted
2015 2014
|
Net interest income
|
247
|
239
|
|
|
Profit
|
215
|
210
|
|
|
Loans disbursed
|
2,716
|
2,274
|
|
|
Loan agreements
|
2,830
|
2,389
|
|
|
Loans outstanding and guarantees
|
15,627
|
15,156
|
|
|
New debt issues
|
4,276
|
3,361
|
|
|
Debts evidenced by certificates
|
20,862
|
19,446
|
|
|
Total assets
|
27,311
|
24,870
|
|
|
Equity/total assets
|
11.5%
|
12.0%
|
|
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 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.
For further information, please contact
Mr Henrik Normann, President & CEO, at +358 10 618 001, info@nib.int
Mr Harro Pitkänen, Senior Director, at +358 10 618 0246, harro.pitkanen@nib.int
