Basic data of the statistics
Financial statements data cover the following: profit and loss accounts, balance sheets, incl. itemisation of fee and commission income, itemisation of administrative expenses, itemisation of receivables by sector, shareholding by sector, regional data (on branch offices, personnel, balance sheets, interest income and interest expenses, etc.), age distribution of customers, proposal for profit allocation, itemisation of credit losses, and so on. Credit institutions are examined as independent units, not as groups.
Unit-specific data must be kept confidential.
The statistical population is the institutional units of credit institutions operating in Finland, which form the credit institution groups. Credit institutions are grouped into domestic commercial banks, cooperative banks, savings banks, other domestic credit institutions, branches of foreign banks in Finland, and other foreign credit institutions in Finland.
The statistical unit is the institutional units of credit institutions, which form the credit institution groups.
Credit institutions are grouped into domestic commercial banks, cooperative banks, savings banks, other domestic credit institutions, branches of foreign banks in Finland, and other foreign credit institutions in Finland.
Unit of measure
The unit of measure used in the statistics is EUR 1,000.
The statistics are published at current prices quarterly, approximately three to four months after the end of each quarter.
The statistics cover all institutional units of credit institutions operating in Finland.
Credit institutions are grouped into domestic commercial banks, cooperative banks, savings banks, other domestic credit institutions, branches of foreign banks in Finland, and other foreign credit institutions in Finland.
Data on financial statements produced by credit institutions in accordance with a uniform financial statement formula have been produced since the beginning of 1995. From 1974 to 1995, data on financial statements produced by credit institutions were produced so that financing companies and credit companies were no included in the uniform frame because these were not yet covered by the harmonised credit institution legislation. Before 1974, a separate publication was produced for each banking group, the content of which also differed to some extent in respect of the financial statement formula. Statistics Finland has been publishing bank statistics on all banking groups starting from the data for 1970. The journey of bank statistics started in the 1868 statistics on savings banks, which was a report of the inspector of savings banks on their state and management.
Frequency of dissemination
The statistics are published approximately three to four months after the end of each quarter. The released data are final data and preliminary data are not published.
Accrued interest and other expenses as well as deferred interest and other income, adjusted or supplemented on an accrual basis.
Accrued interest and other income as well as prepaid interest and other expenses, adjusted or supplemented on an accrual basis.
Increases/decreases in the accumulated depreciation difference to be considered in determining taxable income, and increases/decreases in voluntary provisions deductible for tax purposes.
Claims of the reporting credit institution in respect of overdrafts of customers who have entered into a credit card agreement.
Commission income (finrep -reporting)
The item includes commission income from security brokering, clearing and settlement, asset management, custody services, administrative service to institutional customers, payment traffic, distribution channel commissions, structured products, servicing commissions from securitisation activities, commissions from lending, granted guarantees and other received commissions.
Debt securities comprise all marketable debt instruments, such as Treasury bills, securities issued by municipalities, bank certificates of deposit, commercial papers, bonds and convertible bonds.
Debt securities eligible as collateral in central bank monetary policy operations.
Bonds, certificates of deposit and other comparable marketable bearer bonds and promissory notes made out to order and issued by a credit institution.
Deferred tax assets and liabilities arising from timing differences and other temporary differences.
Depreciation, amortisation and impairment of tangible and intangible assets include 1) depreciations according to plan, based on the passage of time, and 2) impairment write-downs based on a probable permanent decrease in the asset's market value.
Premiums paid for derivative instruments, including positive fair values of derivative instruments included among assets.
Fees and commission expenses (statements)
Fee and commission expenses include clearing and settlement expenses, custody expenses, servicing fees from securitisation activities, loan commitments received, guarantees received and other fee and commission expenses.
Impairment losses on receivables from credit institutions and on loans and advances to the public and general government, as well as impairment losses from off-balance sheet commitments.
Income and expenses pertaining to exceptional and non-recurring events which are not part of the ordinary business of the credit institution.
Dividends, income from mutual fund units and similar income paid from a company's distributable funds.
Intangible rights and assets acquired against a consideration (e.g. concessions, patents, licenses and trademarks). Intangible assets generated through internal development activities can be included on a prudent basis.
Interest expenses include interest, penalty interest, and commissions for loan arrangement and other commissions calculated on a time basis or by reference to the loan principal. Also included are issue losses incurred in connection with loans issues as well as fees and commissions on loans received, to the extent that these losses or commissions are attributable to the accounting period. Not included are fees in compensation of direct administrative expenses related to the granting of the loan.
Interest expenses (statements)
The interest expenses item includes, e.g. interests, penalty interests, and loan arrangement and other commissions that are determined based on the passing of time and the amount of capital; the share of issue losses from issued loans belonging to the financial year and the share of commissions paid on received loans belonging to the financial year excluding any compensation on direct administrative costs related to the granting of the loan.
Interest income (statements)
The interest income items includes, for example,
- Interests and interest subsidies, penalty interests, and loan arrangement and other commissions that are determined based on the passing of time and the amount of capital
-The proportion of the difference between the nominal value and acquisition price of receivables acquired below or under the nominal value belonging to the financial year
- Difference between the repurchase price and purchase price of securities and other commodities bought with repurchase agreements during the validity of the agreement.
- Interest-like income related to derivative contracts.
Fees comparable to interest, such as the marginal interest rate, are allocated as interest income during the term of the loan.
Interest income includes interest, penalty interest, and commissions for loan arrangement and other commissions calculated on a time basis or by reference to the amount of principal.
Also included are: the difference between the nominal value and the purchase price of acquired receivables to the extent that it is attributable to the accounting period; the difference between the resale price and purchase price of securities or other assets bought under repos imposing obligations on the investment firm and its contracting party during the validity of the agreement; and gains of an interest nature resulting from derivative instruments.
Fees and commissions which are comparable to interest income are allocated as interest income over the loan's maturity period.
Securities sale contracts which include a put option whereby the buyer may sell the securities back to the credit institution if he so wishes. Includes forward deposits, the unpaid amount of partly-paid securities, underwriting obligations, binding standby facilities and unused credit limits.
The undepreciated balance of the acquisition cost of the assets subject to lease, including any advance payments made in respect of the assets.
Liabilities to other than credit institutions and central banks.
This item comprises Finnish and foreign notes and coins, cheques and bankers' drafts as well as other similar payment instruments. The item also comprises claims on central banks repayable on demand.
Credits extended to the public and general government, as well as receivables of a similar nature.
The public includes households, enterprises, non-profit corporations, insurance corporations and other financial institutions except credit institutions.
General government includes the State, municipalities, joint municipal authorities, the regional government of the Åland Islands, employment pension institutions and other social security funds.
Loans and other receivables (finrep - reporting)
The item includes loans, deposits between financial institutions and advance payments. The data are reported as nominal values.
Positive or negative difference (trade margin) between sales price and book value of debt securities, shares and participations belonging to the financial assets of a credit institution.
Positive and negative exchange differences resulting from currency exchange and from translating foreign-currency items (assets, debts and currency swap contracts) into domestic currency.
Net income from financial assets that a company holds, often for an extended period of time, with the intent of selling them at a convenient opportunity.
Hedging involves the use of e.g. derivative instruments for the purpose of eliminating risks relating to e.g. interest rate, exchange rate or commodities price developments.
Net income from land or buildings not in the company's own use. Assets are held for capital appreciation or rental income.
Rents from leasing contracts minus planned depreciation of leasing assets. Also included are additional depreciation of leasing assets and capital gains as well as losses from the sale of leasing assets, fees charged to customers and other income and expenses directly pertaining to leasing contracts. Other income and expenses pertaining to leasing contracts are reported as profit and loss account items under the corresponding type of income or expense.
A non-performing asset derives from a breach of contract. An asset becomes non-performing when payment of interest on it, or its principal or part thereof has been in arrears for 90 days.
Receivables from payment transactions, receivables on various settlement accounts, margin receivables related to derivative instruments and other receivables not reported under any other item in the balance sheet.
Liabilities related to payment transactions, accounts payable and other liabilities unrelated to the granting of credit, as well as statutory provisions.
Other operating expenses (finrep -reporting)
Other operating expenses include tangible assets calculated using the current value model, investment properties, rent expenses (incl. real estate rents, machine, object and vehicle rents), merger losses, payments to insurance funds and to the Investors' Compensation Fund, other insurance and security expenses, surveillance, inspection and membership expenses, and other operating expenses.
Rental expenses and other expenses attributable to owner-occupied property, including rental expenses for machinery and equipment, merger losses, insurance and other security costs, supervision, inspection and membership fees as well as other similar expenses which are not attributable to other items.
Other operating income (statements)
The item includes gross dividend and rental income from real estate and real estate corporations, income from administrative services to a firm in the same group or consolidation group and other similar services, and other income from actual operations.
Gross rental income from real estate, as well as gross dividend income and rental income from real estate corporations, commissions and fees paid for administrative services etc. by businesses belonging to the same group or consolidation group, as well as other income from the ordinary business of the credit institution.
The balance sheet includes repos based on binding resale commitments at purchase price. Repos are part of the credit institution's lending. The credit institution acts as the buyer (investor) and purchases, with commitment to resell, securities owned by its customers.
Repo options are reported as off-balance sheet items.
Revaluation of land and water areas, including revaluation of shares in real estate companies.
Shares, primary capital or investment units and other participations that confer a right to the equity of a company. Mutual fund shares and certificates conferring right to subscription to or income from such shares or units are treated as shares and units. Shares and participations in real estate companies are not included.
Shares and participations in subsidiaries as defined in the Book-keeping Act, shares and participations in real estate companies not included.
Debt securities issued by a credit institution under conditions of subordinate priority relative to other liabilities incurred by the credit institution. The item also includes perpetuals and other subordinated hybrid capital instruments.
Tangible assets (statements)
Tangible assets include land, water and forest areas (unbuilt), buildings and other real estate, as well as machinery and equipment, and other tangible assets. The real estate item includes investment properties and real estate properties in own use.
Buildings and structures, as well as land and water constructions are recorded as an investment during the statistical reference period when they are paid. Other fixed assets are recorded as investments during the statistical reference period when they are transferred to the buyer's or recipient's use.
Tangible assets include real property (e.g. buildings, undeveloped land and water areas, property interests held under a lease, or shares and units in real estate companies) and other tangible assets, e.g. computer equipment, other office machinery and equipment, art objects, numismatic collections, vehicles, and machinery and equipment for property maintenance.
Credit institutions' and investment firms' turnover include the following items: Interest income + Leasing income + Income from equity investments + Commissions and fees + Net income or net losses from securities and foreign exchange transactions + Other operational income.
Also included after transition to IAS/IFRS-compliant reporting on 1 January 2005 are: Net income from available-for-sale financial assets + Net income from hedge accounting + Net income from investment property.
Total amount of unpaid subscriptions to share issues, investment unit issues or primary capital issues prior to payment or annulment of the subscription.
Accuracy, reliability and timeliness
The quality of the statistics is good. The statistics are based on credit institutions’ bookkeeping. The data are checked against the published financial statements of credit institutions.
The statistics are published three to four months after the end of each quarter. The exact release dates are announced in advance on the home page of the statistics.
There are no delays between the release calendar and the actual release date.
Comparability - geographical
The statistics are produced in accordance with the current accounting standards and are therefore comparable to other financial statement statistics on credit institutions prepared in accordance with the national accounting standards.
Comparability - over time
There is a break in most time series at the beginning of 2018 due to a change in the financial statement formula used following the adoption of the new IFRS 9 accounting standard in FINREP reporting. Financial statements of credit institutions produced in accordance with a uniform financial statement formula prior to 2018 are available for the years 1995 to 2004, 2005 to 2013, and 2014 to 2017.
In the third quarter of 2016, the database tables of the financial statement statistics on credit institutions were changed to reflect better the FINREP data collection form of the Financial Supervisory Authority. The changes made were minor and had little effect on the comparability of the financial statement statistics on credit institutions to previous quarters.
Starting from the second quarter of 2016, certain appendix tables are excluded from the Financial Supervisory Authority’s FINREP reporting. Due to the change, Appendix tables 3, 4 and 5 (itemisation of interest income and expenses of domestic deposit banks, itemisation of fee and commission income and expenses, and itemisation of administrative expenses) to the financial statement statistics on credit institutions are no longer available. Minor changes were also made to the remaining FINREP tables. The changes did not result in any significant changes in the financial statement statistics on credit institutions, and the comparability of the data with previous quarters remained largely unchanged.
At the beginning of 2014, the data content changed due to the FINREP reporting by the Financial Supervisory Authority. As a result, the time series are partly broken and the data are not fully comparable with previous years. Financial statements produced in accordance with a uniform financial statement formula prior to 2014 are available for the years 2005 to 2013 and 1995 to 2004.
There is a break in most time series at the beginning of 2005 due to a change in the financial statement formula. At that time, a new IAS/IFRS accounting standard was introduced for financial reporting by credit institutions. Financial statements produced in accordance with a uniform financial statement formula prior to 2005 are available for the period 1995 to 2004. From 1974 to 1995, data on financial statements produced by credit institutions were produced so that financing companies and credit companies were no included in the uniform frame because these were not yet covered by the harmonised credit institution legislation. Before 1974, a separate publication was produced for each banking group, the content of which also differed to some extent in respect of the financial statement formula. Statistics Finland has been publishing bank statistics on all banking groups starting from the data for 1970. The journey of bank statistics started in the 1868 statistics on savings banks, which was a report of the inspector of savings banks on their state and management.
In the third quarter of 2007, the treatment of enterprise closures was changed as regards the profit and loss accounts of the statistics. The change was implemented retroactively starting from the beginning of 2006. Previously enterprises that ceased their operation were excluded from the profit and loss account data immediately after their closure. Currently, the data of credit institutions that have ceased their operation are included in the cumulative profit and loss accounts until the last quarter of the year in which they were closed. The change did not affect balance sheet data. It did, however, improve the comparison of successive quarters within a year.
Coherence - cross domain
The statistics are produced in accordance with the current accounting standards and are therefore comparable with other financial statement statistics of credit institutions. In the statistics, credit institutions are examined as independent units, not as groups.
Source data and data collections
The data are collected by the Financial Supervisory Authority from all banks and other credit institutions operating in Finland, including from branches of foreign credit institutions in Finland.
The data are collected electronically.
Frequency of data collection
The data are collected quarterly.
Automatic and manual checks are made to the data, typically due to missing or abnormal observations. Such checks can be made, for example, by comparing reported data with published financial statements.
Validation is carried out in connection with data collection and the compilation of primary statistics. The checks are typically related to missing or abnormal observations.
Principles and outlines
Contact organisation unit
Legal acts and other agreements
The compilation of statistics is guided by the general act of the national statistical service, the Statistics Act (280/2004, amend. 361/2013). Only the necessary data that are not available from administrative data sources are collected from data suppliers. Index series are published so that no individual enterprise’s data or development can be deduced from them.
The financial statement formula used is based on the decree of the Ministry of Finance on the financial statements of credit institutions and investment service companies (Valtiovarainministeriön asetus luottolaitoksen ja sijoituspalveluyrityksen tilinpäätöksestä, konsernitilinpäätöksestä ja toimintakertomuksesta 76/2018) and the supplementary regulations of the Financial Supervisory Authority. The Financial Supervisory Authority collects data from all banks and other credit institutions operating in Finland, including from branches of foreign credit institutions in Finland.
The obligation to provide data is based on the Statistics Act (280/2004, section 14), the Act on the Financial Supervisory Authority (878/2008, sections 18 and 60), as well as on the above decree of the Ministry of Finance.
Confidentiality - policy
The data protection of data collected for statistical purposes is absolutely guaranteed in accordance with the Statistics Act (280/2004), the Personal Data Act (532/1999) and the Act on the Openness of Government Activities (621/1999), as well as the requirements of the EU’s General Data Protection Regulation (2016/679). The data materials are protected at all stages of processing with the necessary physical and technical solutions. Statistics Finland has compiled detailed directions and instructions for confidential processing of the data. Employees have access only to the data essential for their duties. The premises where unit-level data are processed are not accessible to outsiders. Members of the personnel have signed a pledge of secrecy upon entering the service. Wilful breaching of data protection is punishable.
Confidentiality - data treatment
The data materials are protected at all stages of processing with the necessary physical and technical solutions. Unit-specific data of the calculation data must be kept undisclosed.
Data are handled only by persons who need the data in their work. The use of data is restricted by usage rights. The statistics are formed by processing a large number of different statistics and other data sources. The aggregation of data in the process, the compilation time evaluation related to data quality, detailed prioritisation of sources and measures related to total level balancing produce an end result that does not enable identification of individual data producers.
All employees compiling the financial statement statistics on credit institutions have signed a pledge of secrecy, where they have obliged to keep secret the data prescribed as confidential by virtue of the Statistics Act or the Act on the Openness of Government Activities.
Statistics Finland’s release calendar lists in advance all the statistical data and publications to be released over the year. Statistical releases can be found under statistics-specific releases. Statistical data are released on the Internet at 8 am, unless otherwise indicated. The calendar is updated on weekdays. Statistics Finland’s release calendar for the coming year is published every year in December.
The dates of future releases can also be seen on the home page of the statistics.
Data on the financial statement statistics on credit institutions are published annually on the statistics’ website and in the StatFin database.
Accessibility and clarity
The financial statement statistics on credit institutions and the database tables are published on Statistics Finland’s website.
Official Statistics of Finland (OSF) are a comprehensive collection of statistics describing the development and state of society. They comprise nearly 300 sets of statistics on 26 different topics. The producers of Official Statistics of Finland have approved a common quality assurance in which they commit to common quality criteria and quality assurance measures. The quality criteria of Official Statistics of Finland
are compatible with the European Statistics Code of Practice. The good practices followed in the statistics are presented in Statistics Finland’s Quality Guidelines for Official Statistics handbook.
When compiling statistics, Statistics Finland observes the European Statistics Code of Practice (CoP) and the Quality Assurance Framework (QAF) based on them. The Code of Practice concerns the independence and accountability of statistical authorities and the quality of processes and data to be published. The principles are in line with the Fundamental Principles of Official Statistics approved by the United Nations Statistics Division and are supplementary to them. The quality criteria of Official Statistics of Finland are also compatible with the European Statistics Code of Practice. The principles are also compatible with those of the European Foundation for Quality Management (EFQM).
More information is available on Statistics Finland’s on quality management pages.
Every year Statistics Finland conducts statistical auditing that helps to ensure the quality of statistics.
The data are available to all simultaneously according to Statistics Finland’s release calendar.
Statistical data may only be handled at Statistics Finland and information on them may be given before release only by persons involved in the production of the statistics concerned or who need the data of the statistics concerned in their own work before the data are published.