Norway. Sparebanken Sør
| Date of agreement: | 26 Sep 2017 |
|---|---|
| Country: | Norway |
| Customer: | Sparebanken Sør |
| Amount in NOK: | NOK 750 million |
| Amount in EUR: | EUR 80.81 million |
| Maturity: | 5.5 years |
| NACE sector / loan type: | Loan programme |
Project
This loan programme will be onlent for small and medium-sized enterprises’ (SMEs) investments in new premises (real estate), machinery, equipment as well as environmental projects in hospital and school buildings.
Sparebanken Sør, the sixth largest Norwegian bank in terms of total assets, was established after a merger between Sparebanken Pluss and Sparebanken Sør in 2014. The bank provides financial services in the regions of Vest-Agder, Aust-Agder and Telemark in southern Norway. Corporate customers account for about 35% of the bank’s loan book. The most important sectors are real estate, including property management and social services.
Fulfilment of NIB's mandate
The loan programme is expected to alleviate credit constraints for small and medium-sized companies and thereby facilitate the growth of their productivity. The projects to be funded should fulfil NIB’s mandate criteria for SMEs.
Sustainability summary
Within the scope of its credit policy, Sparebanken Sør ensures that the necessary environmental permits are in place for projects selected for financing under this loan programme.
