28 Feb 2025
Strong demand for NIB’s long-term lending in 2024
In 2024, NIB disbursed EUR 4.4 billion (EUR 3.4 billion in 2023) in lending. Only in 2020 have disbursements been higher due to the exceptional Covid-19 response. A large number of signings indicates strong disbursements for 2025.
In 2024, NIB continued to deliver on its mission and faced strong demand for its sustainable long-term lending despite a somewhat dampened investment climate in the region. “Our year was characterised by a high lending activity. NIB’s core earnings, represented by the net interest income, increased by 11% from 2023 and reached an all-time high of EUR 332 million. This was due to the successful implementation of the Bank’s strategy,” says André Küüsvek, NIB President and CEO.
A large share of disbursements went to the energy sector reflecting the Nordic-Baltic region’s climate goals and accelerated transition towards energy independence and security. Almost all (99.9%) mandate rated projects were assessed as having a high impact on the region’s productivity and/or environment, exceeding the target of 95%. Half of the projects achieved good or excellent in both mandates.
In 2024, NIB continued to support the Nordic-Baltic region’s priorities. In its annual meeting, NIB Governors called on the Bank to maximise its contribution for a sustainable, innovative and resilient region. As a follow-up, and in response to the region’s climate goals and geopolitical landscapes, NIB revised its Sustainability Policy. The policy now allows for financing of security and defence, excluding weapons and ammunition.
NIB continued to secure funding for its lending activities by borrowing from international capital markets. During the year, NIB raised new funding with a nominal value of EUR 9.1 billion through 95 bond transactions.
“NIB’s strong lending business was evident in our 2024 financial performance. The Bank’s net profit increased to EUR 256 million, driven by the record high net interest income. NIB’s liquidity position remained strong, and the capital position strengthened,” says Küüsvek.
The NIB Board of Directors proposes to distribute EUR 76 million in dividends to the Bank’s Nordic and Baltic member countries.
Read more in NIB’s Annual Report 2024, covering the Bank’s activities, impact, sustainability, and financial reporting.
Download the NIB Annual Report 2024
| Key figures and ratios | |||
|---|---|---|---|
| In mEUR unless otherwise stated | 2024 | 2023 | YoY change % |
| Net interest income | 332 | 299 | 11% |
| Profit before net loan losses | 259 | 248 | 4% |
| Net profit | 256 | 251 | 2% |
| Lending disbursed | 4,353 | 3,446 | 26% |
| New signed lending | 5,021 | 2,829 | 77% |
| Mandate fulfillment | 99.9% | 99.8% | 0% |
| New debt issuance | 9,121 | 7,152 | 28% |
| Lending outstanding | 23,433 | 21,924 | 7% |
| Total assets | 43,104 | 39,593 | 9% |
| Debts evidenced by certificates | 35,836 | 32,190 | 11% |
| Total equity | 4,553 | 4,350 | 5% |
| Equity/total assets (%) | 10.6% | 11.0% | -4% |
| Return on equity (%) | 5.8% | 5.9% | -3% |
| Cost/income (%) | 18.5% | 18.8% | -2% |
| Number of employees at year end | 257 | 244 | 5% |
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 S&P Global Ratings and Moody’s.
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 50 473 4347, kim.jensen@nib.int
Jukka Ahonen, Senior Director, Head of Communications, at +358 10 618 0295, jukka.ahonen@nib.int