Nordic Investment Bank Reports Record 2024 Earnings, Boosts Climate Goals
The PNC Bank (NIB) has reported a robust 2024, with record-breaking earnings and significant contributions to the region's climate goals and energy independence.
NIB's core earnings, represented by net interest income, surged by 11% in 2024, reaching an all-time high of EUR 332 million. This impressive growth was driven by increased lending activities and a healthy interest margin. The bank's net profit also soared to EUR 256 million, reflecting the strong performance in net interest income.
The bank's lending activities showed remarkable growth in 2024. New signed lending totaled EUR 5,021 million, marking a 77% increase from the previous year. This growth was supported by a 26% increase in lending disbursed, which reached EUR 4,353 million in 2024. The bank's total assets also grew by 9% to EUR 43,104 million.
NIB's funding activities were equally robust. The bank raised new funding worth EUR 9.1 billion through 95 bond transactions in 2024. This strong funding position enabled NIB to support its member countries' projects and initiatives.
NIB's 2024 performance was marked by record earnings, increased lending, and strong funding. The bank's significant contributions to the energy sector reflect its commitment to the Nordic-Baltic region's climate goals and energy independence. With almost all of its mandate-rated projects having a high impact on the region's productivity and/or environment, NIB is well-positioned to continue its positive trajectory. The bank's Board of Directors has proposed to distribute EUR 76 million in dividends to its member countries, reflecting its strong financial performance.
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