The impact of the first wave of the pandemic remained relatively muted in Finland. In the second half of the year, the declining world trade and weaker investment spending are likely to cause delayed effects to Finnish production and slow down the pace of recovery. Finnish public debt-to-GDP ratio is expected to rise, but it will remain relatively low compared to many European peer economies, writes MuniFin’s Chief Economist Timo Vesala.Read more
On 10 September 2020, Nasdaq announced that Municipality Finance Plc has listed its inaugural social bond on the Nasdaq Sustainable Debt Market at Nasdaq Helsinki. The bond notional is EUR 500 million with a maturity of 15 years, explicitly guaranteed by the Municipal Guarantee Board. MuniFin’s issuance is the first social bond listed on Nasdaq Helsinki and the first social bond issued by an SSA (Sovereigns, Supranationals, Agencies) issuer in the Nordic countries.Read more
- Lending and leasing increased by close to DKK 6 billion to DKK 191 billion, of which DKK 4 billion was due to new loans and leases in the period.
- Net interest income decreased to DKK 221 million against DKK 250 million in the same period last year, which is in line with expectations at the end of 2019.Read more
The Hague, 7 September 2020 – Gita Salden, CEO BNG Bank: 'Looking at BNG Bank's clients, especially healthcare institutions and municipalities play an important role in limiting the consequences of the COVID-19 pandemic. The financial consequences for those sectors are substantial. The net profit of BNG Bank for the first half of 2020 amounts to EUR 100 million. The 21% decrease compared to the first half of 2019 is mainly due to the negative impact of the pandemic on the revaluation of some of our assets'.Read more
To support the recovery of the North Rhine-Westphalian economy, NRW.BANK has launched further promotional measures supplementing the COVID-19 aid provided by the State of NRW and the federal government. The aim of the promotional bank is to assist company founders and entrepreneurs by offering them a largely expanded range of equity and debt capital solutions to help them invest in growth again. The launch of a digitalisation drive is part of the package. The Bank additionally offers a programme for non-profit organisations. All measures will start with immediate effect.Read more
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