Nordic Investment Bank 18-K/A Annual report (foreign governments) (amended)

Exhibit VIII

Financial information

January–August 2013

(unaudited)

Nordic Investment Bank Financial information January–August 2013

Table of contents

Key figures	3
Comments	4
Statement of comprehensive income	5
Statement of financial position	6
Changes in equity	7
Cash flow statement	8

14 October 2013

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Nordic Investment Bank Financial information January–August 2013

Key figures

(in EUR million unless otherwise noted)

	Aug 2013*		Aug 2012*		Dec 2012
Net interest income		166		165		252
Profit/loss		153		162		209
Loans disbursed		1,039		1,190		2,355
Loans agreed		859		1,490		2,366
Loans outstanding		14,804		14,817		15,131
Guarantee commitments		—		4		—
New debt issues		3,356		2,831		4,355
Debts evidenced by certificates		19,386		20,998		20,332
Total assets		24,562		27,072		25,983
Equity/total assets (%)		11.3		9.7		10.3
Profit/average equity (%)		8.4		9.5		8.1
Number of employees (average during year)		182		179		180

* Unaudited figures, to be read in conjunction with NIB’s audited financial statements for 2012 and the notes thereto.

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Nordic Investment Bank Financial information January–August 2013

Comments

NIB’s financial figures January–August 2013

During the first eight months of the year, the Nordic-Baltic region continued to benefit from its relative “safe-haven” status. The region’s fixed capital investment has nonetheless been stagnating since 2012, reflecting the uncertain global economic environment.

Despite the unfavourable investment climate and muted demand, during the first eight months of the year, NIB’s financial results gained from the increased average margin for the loan portfolio as well as positive valuations of treasury portfolios. The net interest income amounted to EUR 166 million (Jan–Aug 2012: EUR 165 million). The Bank’s profit totalled EUR 153 million (Jan–Aug 2012: EUR 162 million).

The amount of loans disbursed during the period totalled EUR 1,039 million, down from EUR 1,190 million in Jan–Aug 2012. Loans were provided for industrial research and development, improvement of education facilities and public buildings, construction of roads, railroads and port infrastructure, wind- and hydropower, and electricity transmission.

Loans outstanding amounted to EUR 14.8 billion, corresponding to the level of a year ago. Loan impairments had a net increase of EUR 5 million during the period caused by increase in collective impairments.

During the first eight months of 2013, NIB raised EUR 3.4 billion in new funding through 29 funding transactions. The Bank expects to fund approximately EUR 4 billion in 2013. In early 2013, NIB issued a three-year USD 2 billion global benchmark, the Bank’s largest single funding transaction so far.

The low level of investment in combination with ample liquidity is expected to continue weighing on the demand for lending in the Nordic-Baltic region during the forthcoming months.

Henrik Normann

President & CEO

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Nordic Investment Bank Financial information January–August 2013

Statement of comprehensive income

EUR 1,000

	Jan–Aug 2013*		Jan–Aug 2012*		Jan–Dec 2012
Interest income		274,400		341,120		494,064
Interest expense		-108,304		-176,311		-242,370
Net interest income		166,096		164,810		251,693
Commission income and fees received		7,284		6,768		10,620
Commission expense and fees paid		-1,985		-1,738		-2,223
Net profit/loss on financial operations		11,984		39,017		43,288
Foreign exchange gains and losses		-196		1,026		-221
Operating income		183,183		209,882		303,157
Expenses
General administrative expenses		23,471		22,574		34,291
Depreciation		2,380		2,358		3,611
Impairment of loans		4,596		23,173		56,050
Total expenses		30,447		48,105		93,951
PROFIT/LOSS FOR THE PERIOD		152,736		161,777		209,205
Total comprehensive income		152,736		161,777		209,205

* Unaudited figures, to be read in conjunction with NIB’s audited financial statements for 2012 and the notes thereto.

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Nordic Investment Bank Financial information January–August 2013

Statement of financial position

EUR 1,000

		31 Aug 2013*		31 Aug 2012*		31 Dec 2012
ASSETS
Cash and cash equivalents			2,680,721		3,756,698		2,817,189
Financial placements
Placements with credit institutions			4,891		4,083		4,191
Debt securities			5,125,509		5,222,354		5,248,858
Other			20,789		27,545		22,059
			5,151,188		5,253,981		5,275,108
Loans outstanding			14,804,079		14,816,936		15,130,669
Intangible assets			4,753		4,679		4,446
Tangible assets, property and equipment			29,099		30,300		29,856
Other assets
Derivatives			1,539,265		2,777,755		2,347,873
Other assets			26,498		34,742		25,895
			1,565,763		2,812,496		2,373,768
Payments to the Bank’s reserves, receivable			—		1,320		—
Accrued interest and fees receivable			326,290		395,673		351,875
TOTAL ASSETS			24,561,894		27,072,084		25,982,911
LIABILITIES AND EQUITY
Liabilities
Amounts owed to credit institutions
Short-term amounts owed to credit institutions			732,462		2,017,935		1,593,338
Long-term amounts owed to credit institutions			—		66,153		15,222
			732,462		2,084,087		1,608,560
Debts evidenced by certificates
Debt securities issued			19,312,133		20,922,459		20,254,987
Other debt			73,937		75,869		77,144
			19,386,070		20,998,328		20,332,131
Other liabilities
Derivatives			1,424,726		1,056,779		1,102,707
Other liabilities			10,859		11,221		9,397
			1,435,585		1,067,989		1,112,104
Accrued interest and fees payable			241,364		303,430		264,439
Total liabilities			21,795,480		24,453,835		23,317,234
Equity
Authorised and subscribed capital	6,141,903
of which callable capital	-5,723,302
Paid-in capital	418,602		418,602		418,602		418,602
Reserve funds
Statutory Reserve			686,325		685,005		686,325
General Credit Risk Fund			1,112,831		955,626		955,626
Special Credit Risk Fund PIL			395,919		395,919		395,919
Payments to the Bank’s reserves, receivable			—		1,320		—
Profit/loss for the period			152,736		161,777		209,205
Total equity			2,766,413		2,618,249		2,665,677
TOTAL LIABILITIES AND EQUITY			24,561,894		27,072,084		25,982,911

* Unaudited figures, to be read in conjunction with NIB’s audited financial statements for 2012 and the notes thereto.

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Nordic Investment Bank Financial information January–August 2013

Changes in equity*

EUR 1,000

	Paid-in capital		Statutory Reserve		General Credit Risk Fund		Special Credit Risk Fund PIL		Payments to the Bank’s Statutory Reserve and Credit Risk funds		Appropriation to dividend payment		Other value adjustments		Profit/loss for the period		Total
Equity at 31 December 2011		418,602		683,685		761,589		395,919		2,640		0		0		194,037		2,456,472
Appropriations between reserve funds						194,037										-194,037		0
Paid-in capital																		0
Called in authorised and subscribed capital																		0
Payments to the Bank’s Statutory Reserve and credit risk funds, receivable				1,320						-1,320								0
Comprehensive income for the period 1/1–31/8/2012																161,777		161,777
Equity at 31 August 2012		418,602		685,005		955,626		395,919		1,320		0		0		161,777		2,618,249
Paid-in capital																		0
Called in authorised and subscribed capital																		0
Payments to the Bank’s Statutory Reserve and credit risk funds, receivable				1,320						-1,320								0
Comprehensive income for the period 1/9–31/12/2012																47,428		47,428
Equity at 31 December 2012		418,602		686,325		955,626		395,919		0		0		0		209,205		2,665,677
Appropriations between reserve funds						157,205						52,000				-209,205		0
Paid-in capital																		0
Called in authorised and subscribed capital																		0
Payments to the Bank’s Statutory Reserve and credit risk funds, receivable																		0
Dividend payment												-52,000						-52,000
Comprehensive income for the period 1/1–31/8/2013																152,736		152,736
Equity at 31 August 2013		418,602		686,325		1,112,831		395,919		0		0		0		152,736		2,766,413

* Only the year-end figures are audited, to be read in conjunction with NIB’s audited financial statements for 2012 and the notes thereto

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Nordic Investment Bank Financial information January–August 2013

Cash flow statement

EUR 1,000

	Jan-Aug 2013*		Jan-Aug 2012*		Jan-Dec 2012
Cash flows from operating activities
Profit/loss from operating activities		152,736		161,777		209,205
Adjustments:
Unrealised gains/losses of financial assets held at fair value		-8,440		-48,292		-44,717
Depreciation and write-down in value of tangible and intangible assets		2,380		2,358		3,611
Change in accrued interest and fees (assets)		25,585		-31,985		11,812
Change in accrued interest and fees (liabilities)		-23,075		24,052		-14,939
Impairment of loans		4,596		23,173		56,050
Adjustment to hedge accounting		-1,715		2,397		1,381
Other adjustments to the period’s profit		-1,953		-1,139		-2,523
Adjustments, total		-2,622		-29,436		10,675
Lending
Disbursements of loans		-1,039,312		-1,190,142		-2,354,787
Repayments of loans		1,010,055		873,988		1,502,789
Capitalisations, redenominations, index adjustments etc.		-183		309		245
Transfer of loans to claims in other assets		—		2,854		2,854
Exchange rate adjustments		222,413		-293,460		-85,199
Lending, total		192,973		-606,451		-934,098
Cash flows from operating activities, total		-343,086		-474,110		-714,218
Cash flows from investing activities
Placements and debt securities
Purchase of debt securities		-1,364,824		-2,308,220		-2,893,778
Sold and matured debt securities		1,470,656		1,512,702		2,046,894
Placements with credit institutions		-700		-566		-674
Other financial placements		2,472		-3,284		-3,463
Exchange rate adjustments etc.		-9,036		-17,853		4,074
Placements and debt securities, total		116,640		-817,221		-846,947
Other items
Acquisition of intangible assets		-1,506		-1,299		-1,727
Acquisition of tangible assets		-425		-673		-820
Change in other assets		1,083		1,459		13,587
Other items, total		-848		-513		11,040
Cash flows from investing activities, total		115,792		-817,734		-835,907
Cash flows from financing activities
Debts evidenced by certificates
Issues of new debt		3,355,774		2,830,543		4,355,019
Redemptions		-2,735,604		-1,109,826		-2,435,918
Exchange rate adjustments		-1,022,764		568,383		-312,663
Debts evidenced by certificates, total		-402,593		2,289,099		1,606,438
Other items
Long-term placements from credit institutions		-15,222		-35,513		-86,444
Change in swap receivables		441,008		-199,823		262,337
Change in swap payables		292,876		54,820		70,114
Change in other liabilities		1,462		1,268		-545
Dividend paid		-52,000		—		—
Paid-in capital and reserves		—		1,320		2,640
Other items, total		668,123		-177,928		248,102
Cash flows from financing activities, total		265,530		2,111,171		1,854,540
CHANGE IN CASH AND CASH EQUIVALENTS, NET		724,408		819,327		304,414
Opening balance for cash and cash equivalents, net		1,223,851		919,437		919,437
Closing balance for cash and cash equivalents, net		1,948,259		1,738,764		1,223,851
Additional information to the statement of cash flows
Interest income received		299,985		309,135		505,876
Interest expense paid		-131,379		-152,259		-257,309

The cash flow statement has been prepared using the indirect method and the cash flow items cannot be directly concluded from the statements of financial positions.

* Unaudited figures, to be read in conjunction with NIB’s audited financial statements for 2012 and the notes thereto.

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Nordic Investment Bank Financial information January–August 2013

Nordic Investment Bank (NIB)

Fabianinkatu 34

P.O. Box 249

FI-00171 Helsinki, Finland

Telephone: +358 10 618 001

Fax: +358 10 618 0725

Internet: www.nib.int

E-mail: info@nib.int

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