Home > Statistics > Financial statement statistics on credit institutions > 2013 > 1st quarter > Domestic banks' net income from financial operations contracted from the previous year in the first quarter of 2013

Published: 13 June 2013

Domestic banks' net income from financial operations contracted from the previous year in the first quarter of 2013

In the first quarter of 2013, domestic banks’ net income from financial operations amounted to EUR 652 million. Their net income from financial operations fell by 17 per cent from the respective quarter of the year before. Compared with the previous quarter, the net income from financial operations went down by three per cent. These data derive from Statistics Finland’s financial statement statistics on credit institutions.

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

The contraction in net income from financial operations from the previous year is mainly explained by the fall in the interest income of domestic banks. Over the quarter, interest income amounted to EUR 1.3 billion, which is EUR 608 million less than one year previously. From the previous quarter, interest income went down by EUR 129 million. The interest expenses of domestic banks also declined. Over the quarter, interest expenses amounted to EUR 694 million, which is EUR 479 million less than one year previously. From the previous quarter, interest expenses went down by EUR 113 million. Of interest expenses in the first quarter, EUR 162 million concerned derivative instruments and other liabilities held for trading.

In the first quarter, the commission income of domestic banks amounted to EUR 448 million and increased by close on ten per cent from the year before. Compared to the previous quarter, commission income went up by close on five per cent. At the end of the quarter, net gains from securities and foreign currency transactions totalled EUR 270 million.

Recorded impairment losses on loans and other commitments amounted to EUR 15 million in the first quarter of this year.

The net operating profit of domestic banks amounted to EUR 646 million in the first quarter, which is 22 per cent less than one year earlier. From the previous quarter, net operating profit diminished by 49 per cent. The aggregate value of the balance sheets was EUR 484 billion. The balance sheets decreased by 7.6 per cent year-on-year. The share of own equity in the total of the balance sheets was 3.9 per cent. .

Source: Credit institutions' annual accounts, Statistics Finland

Inquiries: Marja Keltanen 09 1734 3328, Kristiina Nieminen 09 1734 2957, rahoitusmarkkinat@stat.fi

Director in charge: Leena Storgårds

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Updated 13.6.2013