A quarter characterised by geopolitical uncertainty
KBN’s net interest income in the first quarter of 2022 was NOK 436 million as compared to NOK 384 million in the same period in 2021. KBN’s result for the period in the first quarter of 2022 was a loss of NOK 352 million as compared to a profit of NOK 398 million in the first quarter of 2021. The decline in KBN’s result, is caused by unrealised losses on financial instruments, as a result of market volatility.
War in Ukraine – little effect on KBN
Russia's invasion of Ukraine is an assault on freedom, human rights and democracy, and is a serious breach of international law. Our thoughts go out first and foremost to the people who are now exposed to great suffering and loss. KBN's activities are little affected, and KBN is well prepared for turbulence in the financial markets.
Good results and strong growth in green lending
Kommunalbanken AS (hereinafter KBN) granted new loans totalling NOK 49 billion in 2021. These loans financed investment in projects such as schools, health and care facilities, and water and wastewater systems.
A year of green records for KBN
KBN’s Impact Report for 2021 reveals all time high levels in KBN’s green lending as well as green bond issuance.
2022 Funding update
KBN has had a strong start to 2022, active in a number of public markets over the first few weeks of the year.