Successful fourth USD benchmark for the year
KBN took advantage of the strong market conditions and clear execution window post Thanksgiving holidays, to complete a successful USD 1.5bn 3-year benchmark.
Good lending growth in a normalised market
KBN’s net interest income in the third quarter of 2020 was NOK 437 million as compared to NOK 476 million in the same period in 2019. KBN won a significant proportion of requests for financing for new projects, and its lending portfolio grew by NOK 5.7 billion in the third quarter.
Jannicke Trumpy Granquist appointed as new President and CEO of KBN
The Board of Directors of KBN has appointed Jannicke Trumpy Granquist as new President and CEO. Granquist has filled the role as acting CEO since March and takes over the position as president and CEO as of today.
Record-high demand as KBN issues USD benchmark
On Thursday 3rd September, Kommunalbanken (“KBN”), successfully issued a new USD 1.5 billion 5-year benchmark. The issuance represents KBN’s third USD benchmark of the year following two successful outings in 5 and 10-years in 2020.
Good results in a normalised market
KBN’s net interest income in the second quarter of 2020 was NOK 412 million as compared to NOK 470 million in the same period in 2019. KBN’s underlying operations were good, and the decrease was due to KBN reducing its own lending rates during the period.