Nordic Investment Bank – Annual Report 2010
- This is NIB
- Mandate, Mission and Impact
- Lending
- Treasury
- Corporate Governance
- Financial Report
- Report of the Board of Directors
- Proposal by the Board of Directors to the Board of Governors
- Statement of comprehensive income
- Statement of financial position
- Changes in equity
- Cash flow statement
- Notes to the financial statements
- 1. Segment information
- 2. Interest income and interest expense
- 3. Commission income and fees received
- 4. Net profit/loss on financial operations
- 5. General administrative expenses
- 6. Impairment of loans
- 7. Financial placements
- 8. Loans outstanding and guarantee commitments
- 9. Intangible assets, tangible assets (property and equipment)
- 10. Depreciation
- 11. Other assets
- 12. Debts evidenced by certificates and swaps
- 13. Other liabilities
- 14. Authorised capital—paid-in capital
- 15. Statutory reserve and credit risk funds
- 16. Collateral and commitments
- 17. Fair value of financial instruments
- 18. Maturity profile
- 19. Interest rate risk
- 20. Currency risk
- 21. Average statement of financial position
- 22. Related party disclosures
- 23. Cash flow statement
- 24. Exchange rates
- 25. Post-balance sheet events
- Auditors’ reports
Material bank
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NIB in brief
The Nordic Investment Bank is owned by Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. NIB was established in 1975.
The Bank finances projects that strengthen competitiveness and enhance the environment. NIB offers competitive long-term loans and guarantees to its clients in the public and private sectors.
NIB focuses on four sectors: energy; environment; transport, logistics and communications; and innovation. In addition, it finances projects in manufacturing, mining and services. Projects can involve large investments by the corporate sector or investments by small and medium-sized enterprises, targeted in cooperation with financial intermediaries.
Most of NIB's lending is directed towards its member countries, but it also finances projects in the neighbouring region and in other selected focus countries where a mutual interest has been identified.
NIB's strengths include its:
- stability and reliability
- experience in financing cross-border investments
- capacity to manage risks
- high credit ratings, due to its high asset quality, strong balance sheet and ownership
- stable supply of long-term financing
- ability to structure complex financing with other IFIs as well as public and private sector lenders.
When the Bank considers projects for financing, it analyses not only their impact on competitiveness and the environment, but also their broader, indirect effects on the economy and society. The projects are viewed from a sustainable growth perspective to ensure adequate resources for future growth.
NIB acquires the funds for its lending by borrowing on the international capital markets. The Bank's bonds enjoy the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor's and Moody's.