Strong demand for NIB’s financing continues
During the first nine months of 2022, the Bank 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.
“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,” says André Küüsvek, NIB President and CEO.
To meet the demand for our financing, 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. Net interest income, on the other hand, is increasing and better than planned.
The Bank is in a strong financial position as confirmed by our Triple-A rating, which was reaffirmed by Standard & Poor’s and Moody’s in April. NIB’s credit rating, the highest possible from rating agencies, reflects its high asset quality, solid liquidity and capital adequacy, strong balance sheet, and ownership.
The Interim Management Statement is available on NIB’s website.
Key figures and ratios
| In millions of euro unless otherwise specified | Jan-Sep 2022* | Jan-Sep 2021* | Jan-Dec 2021 |
| Net interest income | 162 | 152 | 201 |
| Profit before net loan losses | 76 | 101 | 133 |
| Net profit | 84 | 124 | 159 |
| Lending disbursed | 2,883 | 1,646 | 2,440 |
| New signed lending | 2,613 | 880 | 1,852 |
| Mandate fulfilment ** | 99% | 98% | 97% |
| Lending outstanding | 22,608 | 22,019 | 22,313 |
| Total assets | 41,490 | 37,952 | 37,553 |
| New debt issues | 8,070 | 6,132 | 7,028 |
| Debts evidenced by certificates | 33,019 | 31,842 | 31,526 |
| Total equity | 4,022 | 3,971 | 3,999 |
| Equity/total assets *** | 9.7% | 10.5% | 10.6% |
| Profit/average equity *** | 2.8% | 4.2% | 4.1% |
| Cost/income *** | 33.8% | 27.0% | 27.9% |
| Number of employees at period end | 228 | 224 | 221 |
* Unaudited figures, to be read in conjunction with NIB's 2021 audited financial statements
** See report page 9 for mandate fulfilment explanation
*** See report page 19 for ratio definitions
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. www.nib.int
For further information, please contact
André Küüsvek, President & CEO, at +358 10 618 001, info@nib.int
Kim Skov Jensen, Vice President & CFO, at +358 10 618 0209, kim.jensen@nib.int
Jukka Ahonen, Senior Director, Head of Communications, at +358 10 618 0295, jukka.ahonen@nib.int
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