NIB and OmaSp launch new programme for small businesses

NIB and the Finnish Oma Savings Bank Plc (OmaSp) have signed a EUR 50 million loan agreement to finance small and medium-sized enterprises (SME) and smaller mid-caps (SMC) in Finland.

OmaSp offers retail banking services to households, housing companies, SMEs, as well as agricultural and forestry entrepreneurs. The seven-year loan provides new capital for the bank’s lending, alleviating credit constrains and improving access to financing for small businesses.

This is NIB’s third loan facility agreement with OmaSp. The first two were signed in 2015 and 2018, and both loans were fully allocated.

“We are delighted with the continued cooperation, as it allows us to help small companies in Finland grow through our financing. Since our first loan programme, OmaSp has been steadily expanding its client base, improving the competitiveness of Finnish SMEs,” says André Küüsvek, NIB President & CEO.

“This new loan programme gives us additional opportunities to invest in the competitiveness and success of Finnish SMEs. Entrepreneurs and their companies represent a significant part of our growing customer base in Finland. We are glad that NIB has chosen us as its partner again, and we are very honoured to continue the cooperation,” says Pasi Sydänlammi, CEO of OmaSp.

Oma Savings Bank Plc is the largest savings bank in Finland. The bank offers services to 150,000 private and business customers through 35 branches and digital service channels.  Since NIB’s first loan in 2015, the bank has grown profitably from EUR 2 billion to over EUR 5 billion in assets. Oma Savings Bank has been listed on Nasdaq Helsinki since 2018.

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

NIB:
Jim Dahlström, Senior Banker, Financial Institutions, at +358 10 618 0334, jim.dahlstrom@nib.int  
Vytautas Brazaitis, Communications Unit, at +358 10 618 0235, vytautas.brazaitis

OmaSp:
Sarianna Liiri, Chief Financial and Administrative Officer, at +358 40 835 6712, sarianna.liiri@omasp.fi
Minna Sillanpää, Chief Communications Officer, at +358 50 66592, minna.sillanpaa@omasp.fi