Home > Statistics > Financial statement statistics on credit institutions > 2011 > 1st quarter > Domestic banks’ net income from financial operations started to grow in the first quarter of 2011

Published: 16 June 2011

Domestic banks’ net income from financial operations started to grow in the first quarter of 2011

In the first quarter of 2011, domestic banks’ net income from financial operations amounted to EUR 868 million. Their net income from financial operations grew by 17 per cent from the respective quarter of the year before. Compared to the previous quarter, their net income from financial operations went up by 40 per cent. These data derive from Statistics Finland’s financial statement statistics on credit institutions.

Year-on-year change in net income from financial operations of domestic banks by quarter, %

Improvement of the net income from financial operations is particularly explained by improved difference in interests on the loan and deposit stocks, i.e. interest margin. In the January to March period, the interest income of domestic banks amounted to EUR 1.6 billion, which is EUR 105 million more than in the previous quarter. Over the year, interest income increased by EUR 224 million. Interest expenses, in turn, decreased during the quarter to EUR 699 million, which is EUR 143 million down from the previous quarter. During the year, interest income grew by EUR 99 million, however.

In the first quarter, commission income amounted to EUR 402 million and increased by nine per cent from the year before. Net gains from securities and foreign currency transactions decreased by 60 per cent when compared with the first quarter of 2010.

Recorded impairment losses on loans and other commitments amounted to EUR 84 million in the first quarter. This is 34 per cent down from the previous year.

The net operating profit of domestic banks amounted to EUR 710 million in the first quarter, which is eight per cent more than one year earlier. The aggregate value of the balance sheets was EUR 432 billion. The balance sheets grew by 22 per cent year-on-year. The share of own equity in the total of the balance sheets was five per cent.

Source: Credit institutions' annual accounts

Inquiries: Marja Keltanen (09) 1734 3328, Susanna Laine (09) 1734 3317, rahoitusmarkkinat@stat.fi

Director in charge: Ari Tyrkkö

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Updated 16.6.2011