Kommunalbanken AS (KBN) is one of the largest financial institutions in Norway with total assets of about NOK 500 billion. We provide loans to the local government sector, and our ambition is to contribute to the development of sustainable communities. KBN is 100% owned by the Norwegian state, managed through the Ministry of Local Government and Regional Development, and established in 1927. KBN finances its lending to the local government sector by borrowing money directly in the capital markets. KBN is today one of the largest Norwegian borrowers in the international capital markets, and each year it needs to borrow around NOK 100 billion. KBN finances its green loans for the local government sector by issuing green bonds. KBN has a conservative risk profile and is one of the few AAA-rated financial institutions in the world. As a state-owned company with a public mandate, strong capital base, robust operations and low risk appetite, KBN holds the highest possible credit rating from both Standard and Poor’s and Moody’s.