Home > Statistics > Financial statement statistics on credit institutions > 2019 > 1st quarter > Operating profit of banks operating in Finland was EUR 1.3 billion in the first quarter of 2019

Published: 27 June 2019

Operating profit of banks operating in Finland was EUR 1.3 billion in the first quarter of 2019

In the first quarter of 2019, the net income from financial operations of credit institutions engaged in banking in Finland amounted to EUR 1,069 million and their operating profit to EUR 1,289 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, 1st quarter 2005 to 2019, EUR million

Interest income and expenses

In the first quarter of 2019, credit institutions engaged in banking in Finland accumulated EUR 2.7 billion in interest income. Their interest expenses amounted to EUR 1.7 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 a significant expense item for banks operating in Finland. Banks’ administrative expenses amounted to EUR 1.7 billion in the fourth quarter. Wages and salaries made up EUR 843 million or 50.7 per cent of administrative expenses.

Operating profit

The operating profit, or profit from continuing operations before taxes, was EUR 1.3 billion in the first quarter of 2019. Relative to the quarter one year ago, the operating profit grew particularly due to increased interest and commission income. Because of a significant company restructuring, the operating profit of periods after 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 720 billion. Of this, the share of equity was, on average, 5.9 per cent or EUR 42 billion. Cooperative banks belonging to OP Financial Group had the biggest share of equity in the balance sheet, around 12.3 per cent and foreign banks the smallest, around 0.3 per cent. On average, the share of equity in the total of the balance sheets for all banks operating in Finland rose by 1.8 percentage points from one year back. The large company restructuring made in the banking sector in the fourth quarter of 2018 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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Appendix tables

• Appendix table 1. Profit and loss accounts of banks operating in Finland 1.1.- 31.3.2019, EUR thousands (27.6.2019)
• Appendix table 2. Balance sheets of banks operating in Finland 1.1.- 31.3.2019, EUR thousands (27.6.2019)

Figures

• Appendix figure 1. Interest income and commission income of banks operating in Finland, 1st quarter 2005 to 2019, EUR million (27.6.2019)
• Appendix figure 2. Operating profit of banks operating in Finland, by quarter in 2009 to 2019, EUR million (27.6.2019)

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Updated 27.6.2019