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2021/08/31 / Erste Group Research

SID Bank

SID - Slovenska izvozna in razvojna banka, d.d., is Slovenia's national development bank and authorized export-credit agency, 100% owned by the Republic of Slovenia.

SID has been assuming a central role to mitigate the negative impacts of COVID-19. In 2020 the loan portfolio grew by roughly 15% to over EUR 1.8bn. The net result fell below the recent years´ level to EUR 8.5mn while CET-1 reached 29.1%.

Funding of financial liabilities of roughly EUR 2.4bn at YE 2020 continues to be mainly sourced by loans and bond issues. All obligations of SID Bank are explicitly, unconditionally and irrevocably guaranteed by the Republic of Slovenia (AA-).

SID Bank established a Green Bond Framework and issued its inaugural green bond in 2018. The AA- rating with stable outlook by S&P was most recently affirmed end of June 2021.

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General information

AuthorErste Group Research
Date2021/08/31
Languageen
Product nameCredit News
Topic in focusCredits/ Corporate bonds
Economy in focusSlovenia
Currency in focusEuro
Sector in focus-
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