NIB delivers strong half-year financial results

During the first six months of 2024, the Nordic Investment Bank (NIB) signed a total of EUR 2,642 million in new lending and disbursed EUR 1,896 million, compared to EUR 1,241 million and EUR 1,670 million respectively in the same period in 2023.

NIB had a strong first half of the year. The net profit for the period increased by 12.3%, from EUR 127 million to EUR 143 million, compared to the same period in 2023. The increase in net profit is mainly due to higher net interest income.

“The Bank’s financial results continued the positive trend we saw during the first quarter of the year. Our earnings continued to improve, and net interest income increased by 15.8% compared to the same period a year ago. This strong financial position is the foundation that will enable us to deliver our mission” says André Küüsvek, NIB President and CEO.

During the January–June period, new lending was distributed across various sectors and countries, including the Bank’s first disbursements to InvestEU loans. Close to 100% of loans disbursed financed projects that achieved a “good” or “excellent” mandate rating, exceeding the target of 95%.

“I’m pleased to say that after the busy spring period, our new signed lending reached over EUR 2.6 billion. The signed loans ranged from the healthcare sector to SMEs and to investments related to the green transition, supporting our customers and the whole Nordic-Baltic region with a high impact,” says Küüsvek.

To meet the demand for our financing, the Bank has raised EUR 6.4 billion in new funding so far in 2024. This includes a five-year USD 1.5 billion global benchmark bond with a final orderbook of more than USD 4.5 billion, the largest ever for NIB.

“We also discussed our strategic direction with our Board of Governors during the spring. In line with their guidance, we have revised our Sustainability Policy which entered into force in July after the public consultation. The revision includes a variety of subjects, ranging from defence to biodiversity,” says Küüsvek. The policy is available here.