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

Exhibit IX

Financial information

January–August 2016

(unaudited)

Nordic Investment Bank Financial information January–August 2016

Table of contents

Key figures	3
Comments on NIB’s financial figures January–August 2016	4
Income statement	5
Statement of comprehensive income	5
Statement of financial position	6
Statement of changes in equity	7
Cash flow statement	8

4 October 2016

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Nordic Investment Bank Financial information January–August 2016

Key figures

(in EUR million unless otherwise specified)	Aug 2016*		Aug 2015*		Dec 2015
Net interest income		159		165		247
Profit/loss		145		150		215
Loans disbursed		1,946		1,272		2,716
Loans agreed		2,545		1,389		2,830
Loans outstanding		16,158		15,141		15,627
Guarantee commitments		—		—		—
New debt issues		4,470		2,665		4,276
Debts evidenced by certificates		21,746		19,717		20,862
Total assets		27,611		26,268		27,311
Equity/total assets (%)		11.5		11.7		11.5
Profit/average equity (%)		6.9		7.4		7.0
Number of employees (average during the period)		191		189		188

* Unaudited figures, to be read in conjunction with NIB’s audited financial statements for 2015 and the notes thereto.

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Nordic Investment Bank Financial information January–August 2016

Comments on NIB’s financial figures January–August 2016

In the first eight months of the year, NIB experienced good demand for its long-term financing. A total of 33 loans were agreed (Jan–Aug 2015: 25) amounting to EUR 2,545 million (EUR 1,389 million). Disbursements totalled EUR 1,946 million (Jan–Aug 2015: EUR 1,272 million). The figures for loans agreed and disbursed include bonds purchased in NIB’s newly established green bond portfolio. The Bank has actively participated in four issuances and holds EUR 61 million of green bonds.

The demand for long term financing was mainly driven by large investment needs in the public sector in the Bank’s member countries. Many public sector infrastructural investments completed in the 1960s and 70s need to be upgraded or replaced as they are reaching the end of their economic lives. Furthermore, urbanisation, population growth and ageing are also putting pressure on infrastructure, necessitating further investments. Water supply, wastewater treatment, energy generation and energy distribution are examples of infrastructure projects that NIB has financed this year.

The profit for the period amounted to EUR 145 million, down by EUR 5 million compared with the same period in 2015

(EUR 150 million). The decrease in earnings was primarily attributable lower net interest income, down by EUR 6 million on a year ago, and to an increase in impairment of loans to EUR 12 million, compared to net reversals of EUR 4 million in January–August 2015. However, higher net profit on financial operations of EUR 21 million, compared to EUR 3 million in January–August 2015, contributed positively.

During the first eight months of the year, NIB raised EUR 4.5 billion in new funding, which accounts for close to 85% of this year’s funding plans. The three-year, USD 1.25 billion global benchmark in February was followed by a five-year, USD 1 billion benchmark in August. The Bank continued to issue NIB Environmental Bonds. So far this year, two NIB Environmental Bonds have been issued, totalling the equivalent of EUR 600 million.

In the near term, public sector investment needs are expected to remain great, and given the demand, disbursements are likely to stay at a high level for the rest of the year.

Henrik Normann

President & CEO

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Nordic Investment Bank Financial information January–August 2016

Income statement

EUR 1,000

	Jan–Aug 2016*		Jan–Aug 2015*		Jan–Dec 2015
Interest income		208,189		231,062		338,781
Interest expense		-49,141		-65,780		-92,005
Net interest income		159,048		165,282		246,776
Commission income and fees received		8,823		7,675		12,218
Commission expense and fees paid		-1,578		-1,821		-2,212
Net profit/loss on financial operations		20,929		3,063		11,521
Foreign exchange gains and losses		-23		96		82
Operating income		187,199		174,295		268,385
Expenses
General administrative expenses		28,422		25,672		41,740
Depreciation		1,474		2,780		8,737
Impairment of loans		12,285		-3,760		2,509
Total expenses		42,182		24,692		52,987
PROFIT/LOSS FOR THE PERIOD		145,017		149,603		215,398

Statement of comprehensive income

EUR 1,000

	Jan–Aug 2016*		Jan–Aug 2015*		Jan–Dec 2015
Profit/loss for the period		145,017		149,603		215,398
Other comprehensive income/expense
Movement in hedging reserve:**
Cross-currency basis spreads of hedging swaps		-54,114		—		—
Value adjustments of cash flow hedges		3,911		—		—
Total other comprehensive income for the period		-50,203		—		—
Total comprehensive income for the period		94,814		149,603		215,398

* Unaudited figures, to be read in conjunction with NIB’s audited financial statements for 2015 and the notes thereto.

** The movement in fair value of cross-currency basis spreads of hedging swaps is recognised in the hedging reserve. The effective portion of net change in fair value hedging instruments of cash flow hedges is also recognised in the hedging reserve. These swaps will be held to maturity and the unrealised gains and losses due to the cross-currency basis spreads will be restored by maturity.

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Nordic Investment Bank Financial information January–August 2016

Statement of financial position

EUR 1,000

		31 Aug 2016*		31 Aug 2015*		31 Dec 2015
ASSETS
Cash and cash equivalents			2,665,268		2,235,124		2,666,070
Financial placements
Placements with credit institutions			8,771		7,571		7,921
Debt securities			6,362,508		5,880,116		6,080,069
Other			22,508		23,720		22,023
			6,393,788		5,911,407		6,110,012
Loans outstanding			16,157,795		15,141,404		15,626,946
Intangible assets			—		4,771		—
Tangible assets, property and equipment			27,002		28,352		28,360
Other assets
Derivatives			2,096,524		2,656,114		2,557,979
Other assets			20,468		25,812		23,103
			2,116,992		2,681,926		2,581,083
Accrued interest and fees receivable			250,444		264,946		298,977
TOTAL ASSETS			27,611,289		26,267,931		27,311,447
LIABILITIES AND EQUITY
Liabilities
Amounts owed to credit institutions
Short-term amounts owed to credit institutions			1,114,959		1,554,834		1,448,888
Long-term amounts owed to credit institutions			17,973		—		18,000
			1,132,931		1,554,834		1,466,888
Repurchase agreements			104,211		—		122,556
Debts evidenced by certificates
Debt securities issued			21,686,248		19,642,967		20,802,164
Other debt			59,600		74,527		59,860
			21,745,847		19,717,493		20,862,024
Other liabilities
Derivatives			1,261,293		1,718,732		1,480,736
Other liabilities			11,971		9,953		9,946
			1,273,264		1,728,686		1,490,682
Accrued interest and fees payable			168,723		186,217		222,800
Total liabilities			24,424,978		23,187,229		24,164,950
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		686,325		686,325
General Credit Risk Fund			1,540,651		1,430,252		1,430,252
Special Credit Risk Fund PIL			445,919		395,919		395,919
Profit/loss for the period			145,017		149,603		215,398
Other comprehensive income for the period			-50,203		—		—
Total equity			3,186,311		3,080,701		3,146,497
TOTAL LIABILITIES AND EQUITY			27,611,289		26,267,931		27,311,447

* Unaudited figures, to be read in conjunction with NIB’s audited financial statements for 2015 the notes thereto.

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Nordic Investment Bank Financial information January–August 2016

Statement of 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		Hedging reserve		Profit/loss for the period		Total
Equity at 31 December 2014		418,602		686,325		1,275,041		395,919		0		0		0		210,211		2,986,099
Appropriations between reserve funds						155,211						55,000				-210,211		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												-55,000						-55,000
Comprehensive income for the period 1/1–31/8/2015																149,603		149,603
Equity at 31 August 2015		418,602		686,325		1,430,252		395,919		0		0		0		149,603		3,080,701
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																		0
Comprehensive income for the period 1/9–31/12/2015																65,796		65,796
Equity at 31 December 2015		418,602		686,325		1,430,252		395,919		0		0		0		215,398		3,146,497
Appropriations between reserve funds						110,398		50,000				55,000				-215,398		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												-55,000						-55,000
Comprehensive income for the period 1/1–31/8/2016														-50,203		145,017		94,814
Equity at 31 August 2016		418,602		686,325		1,540,651		445,919		0		0		-50,203		145,017		3,186,311

Only the year-end figures are audited, to be read in conjunction with NIB’s audited financial statements for 2015 and the notes thereto.

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Nordic Investment Bank Financial information January–August 2016

Cash flow statement

EUR 1,000

	Jan–Aug 2016*		Jan–Aug 2015*		Jan-Dec 2015
Cash flows from operating activities
Profit/loss from operating activities		145,017		149,603		215,398
Adjustments:
Unrealised gains/losses of financial assets held at fair value		-8,872		1,464		13,865
Depreciation and write-down in value of tangible and intangible assets		1,474		2,780		8,737
Change in accrued interest and fees (assets)		48,533		40,644		6,613
Change in accrued interest and fees (liabilities)		-54,077		-44,569		-7,986
Impairment of loans		12,285		-3,760		2,509
Adjustment to hedge accounting		-508		-696		-20,667
Other adjustments to the period’s profit		2,254		-637		376
Adjustments, total		1,089		-4,774		3,447
Lending
Disbursements of loans		-1,945,973		-1,271,669		-2,715,757
Repayments of loans		1,427,981		1,388,426		2,350,532
Capitalisations, redenominations, index adjustments, etc.		-26		-44		-51
Exchange rate adjustments		76,667		-139,000		-247,764
Lending, total		-441,351		-22,287		-613,039
Cash flows from operating activities, total		-295,245		122,542		-394,193
Cash flows from investing activities
Placements and debt securities
Purchase of debt securities		-1,533,672		-1,458,558		-2,168,290
Sold and matured debt securities		1,245,378		1,081,936		1,614,972
Placements with credit institutions		-850		-1,000		-1,350
Other financial placements		320		689		2,699
Exchange rate adjustments, etc.		18,093		-30,392		-59,523
Placements and debt securities, total		-270,731		-407,324		-611,491
Other items
Acquisition of intangible assets		—		-898		-1,005
Acquisition of tangible assets		-117		-1,465		-2,551
Change in other assets		5,430		-1,390		5,676
Other items, total		5,313		-3,753		2,120
Cash flows from investing activities, total		-265,418		-411,077		-609,372
Cash flows from financing activities
Debts evidenced by certificates
Issues of new debt		4,469,633		2,665,120		4,276,138
Redemptions		-3,607,799		-2,888,200		-3,636,669
Exchange rate adjustments		-254,537		333,321		884,174
Debts evidenced by certificates, total		607,297		110,242		1,523,643
Other items
Long-term placements from credit institutions		-27		—		18,000
Change in swap receivables		575,541		-501,631		-441,813
Change in swap payables		-211,784		466,642		218,769
Change in other liabilities		2,025		3,193		3,186
Dividend paid		-55,000		-55,000		-55,000
Paid-in capital and reserves		—		—		—
Other items, total		310,756		-86,796		-256,858
Cash flows from financing activities, total		918,053		23,446		1,266,784
CHANGE IN CASH AND CASH EQUIVALENTS, NET		357,390		-265,089		263,219
Opening balance for cash and cash equivalents, net		1,030,348		767,129		767,129
Closing balance for cash and cash equivalents, net		1,387,738		502,039		1,030,348
Additional information to the statement of cash flows
Interest income received		256,722		271,706		345,394
Interest expense paid		-103,218		-110,349		-99,991

The cash flow statement has been prepared using the indirect method and 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 2015 and the notes thereto.

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Nordic Investment Bank Financial information January–August 2016

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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