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Published: 18 April 2019

Operating profit of banks operating in Finland was EUR 1.9 billion in the last quarter of 2018

In the fourth quarter of 2018, the net income from financial operations of credit institutions engaged in banking in Finland amounted to EUR 1,044 million and their operating profit was EUR 1,861 million. These data derive from Statistics Finland’s financial statement statistics on credit institutions.

Net income from financial operations and operating profit of banks operating in Finland, 4 th quarter 2005 to 2018, EUR million

Net income from financial operations and operating profit of banks operating in Finland, 4 th quarter 2005 to 2018, EUR million

Interest income and expenses

In the fourth quarter of 2018, credit institutions engaged in banking in Finland accumulated EUR 3.4 billion in interest income. Their interest expenses amounted to EUR 2.4 billion. The net income from financial operations calculated as the difference between these was about EUR one billion. Relative to the quarter one year ago, the net income from financial operations grew among bank groups most for Finnish commercial banks. This was, however, significantly influenced by the large company restructuring made in the Finnish banking sector in the fourth quarter of 2018.

Administrative expenses

Administrative expenses are the single largest expenditure item of banks operating in Finland. In the third quarter, banks had EUR 669 million in administrative expenses, which was EUR 99 million less than in the year before. Wages and salaries represented 44.3 per cent of administrative expenses. Compared to the third quarter of 2017, total wages and salaries decreased by EUR 11 million to EUR 296 million.

Operating profit

The operating profit, or profit from continuing operations before taxes, was EUR 1.9 billion in the fourth quarter of 2018. The operating profit grew particularly due to increased interest and commission income. Because of a significant company restructuring, the operating profit of the fourth quarter of 2018 is poorly comparable with the operating profit of earlier periods.

Balance sheet

The aggregate value of the balance sheets of banks was EUR 661 billion. Of this, the share of equity was, on average, 6.7 per cent or EUR 44 billion. Cooperative banks belonging to OP Financial Group had the biggest share of equity in the balance sheet, around 12.4 per cent and foreign banks the smallest, around 0.6 per cent. On average, the share of equity in the total of the balance sheets for all banks operating in Finland rose by 1.7 percentage points from one year back. The large company restructuring made in the banking sector had a significant effect on the banks’ combined balance sheet and amount of equity


Source: Credit institutions' annual accounts, Statistics Finland

Inquiries: Antti Suutari 029 551 3257, Jarkko Kaunisto 029 551 3551, rahoitusmarkkinat@stat.fi

Director in charge: Ville Vertanen

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Updated 18.4.2019

Referencing instructions:

Official Statistics of Finland (OSF): Financial statement statistics on credit institutions [e-publication].
ISSN=2342-5180. 4th quarter 2018. Helsinki: Statistics Finland [referred: 19.3.2024].
Access method: http://www.stat.fi/til/llai/2018/04/llai_2018_04_2019-04-18_tie_001_en.html