Information regarding the abbreviation "NIB"

Nordic Investment Bank (NIB) wants to draw your attention to the difference and lack of connection between itself and NIB Capital Bank N.V.

Nordic Investment Bank (NIB) is a multilateral financial institution owned by the five Nordic countries, Denmark, Finland, Iceland, Norway and Sweden. NIB grants loans and gives guarantees to finance projects of mutual interest to the recipient country and the Nordic countries. NIB´s headquarters is located in Helsinki, Finland. NIB has also staffed offices in Copenhagen and Singapore. NIB has no subsidiaries or affiliates. NIB has to date granted loans to 44 countries worldwide. NIB funds its loans from the international capital markets in a variety of currencies.

Since the 1970’s NIB has been active in the international financial markets. The range of activities under the NIB name include in addition to its lending extensive funding and treasury activities. The total value of transactions carried out in form of funding and treasury activities in year 2002 was over EUR 3,300 million. For over 20 years NIB has used the abbreviation and acronym “NIB”. In the international financial markets NIB is often referred to as one of the “supranationals” which all possess an outstanding credit quality. Since it was afforded its long-term rating in 1982, NIB has continuously enjoyed the highest possible rating, AAA/Aaa, by the leading rating agencies Standard&Poor’s and Moody’s. Hence, NIB believes that it has substantial goodwill and reputation vested in the sign “NIB”. NIB has registered its name and abbreviation according to Article 6ter of the Paris Convention. That article provides for protection for the name and abbreviation of international intergovernmental organisations.

In 1999 NIB became aware of the fact that a Dutch company by the name of NIB Capital N.V. was formed around a group of affiliated companies. One part of this group consists of NIB Capital Bank N.V. based in the Hague. NIB Capital Bank N.V. is to a large extent engaged in activities similar to those of the Nordic Investment Bank and also uses the abbreviation “NIB” or “NIB Capital” when operating in the international financial markets. This has resulted in a large number of serious incidents of confusion where members of the market have misdirected communications by virtue of the fact that they have associated NIB with Nordic Investment Bank, when the institution in question has been NIB Capital Bank N.V.

NIB has so far diligently tried to correct and redirect all such communications and has followed the situation with growing concern and is now trying to find a solution to the problem. Therefore, in the current situation NIB requests all actors in the international financial markets to note that NIB as an international financial institution has no connection or affiliation whatsoever to NIB Capital N.V. or any of its affiliates and NIB kindly asks all the actors on the market to exercise care in the use of the abbreviation NIB in order to minimise the risk of further mistakes occurring.

Please note that NIB takes no responsibility for any misdirected communications.