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Published: 22 April 2021

Net income from financial operations of banks operating in Finland increased and operating profit decreased in the last quarter of 2020

The net income from financial operations of credit institutions engaged in banking in Finland amounted to EUR 1.2 billion in the last quarter of 2020 and operating profit was EUR 1.4 billion. The net income from financial operations grew by 4.1 per cent and operating profit contracted by 9.7 per cent from the respective quarter of the year before. 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, 4th quarter 2005 to 2020, EUR million

Net income from financial operations and operating profit of banks operating in Finland, 4th quarter 2005 to 2020, EUR million

Interest income and expenses

In the last quarter of 2020, credit institutions engaged in banking in Finland accumulated EUR 1,539 million in interest income. Their interest expenses, in turn, amounted to EUR 371 million. The net income from financial operations calculated as the difference between these was EUR 1,168 million. The net income from financial operations grew by 4.1 per cent from the respective quarter of the year before, or by around EUR 45 million.

Interest income for the whole year totalled EUR 6.6 billion, which was 18.6 per cent less than in the previous year. Interest expenses amounted to EUR two billion, while one year before, interest expenses amounted to EUR 3.8 billion. The whole year’s combined net income grew from the previous year by 7.8 per cent to EUR 4.6 billion.

Administrative expenses

Administrative expenses are a significant expense item for banks operating in Finland. In the last quarter, banks had EUR 1,420 million in administrative expenses, which was EUR 11 million less than in the corresponding quarter of the year before. Wages and salaries made up EUR 802 million or 56.5 per cent of administrative expenses.

Administrative expenses for the whole year amounted to EUR 5.4 billion, which was 5.4 per cent less than in the year before. Total wages and salaries fell by 2.4 per cent from the year before.

Operating profit/loss

The operating profit, or profit from continuing operations before taxes, was EUR 1,440 million in the last quarter of 2020. The operating profit fell by 9.7 per cent from the corresponding quarter of the year before, or by around EUR 155 million.

During 2020, the combined operating profit amounted to EUR 3.4 billion. The growth from the previous year's EUR 2.8 billion was around 20.8 per cent.

Balance sheet

The aggregate value of the balance sheets of banks was EUR 712 billion at the end of 2020. From one year ago, the value of the balance sheets grew by EUR 37 billion, or by around 5.5 per cent. The combined equity amounted to EUR 46 billion, which was 6.5 per cent, or around EUR 2.8 billion more than at the end of the previous year. On average, equity made up 6.5 per cent of the aggregate of the balance sheets for all banks operating in Finland.


Source: Credit institutions' annual accounts, Statistics Finland

Inquiries: Jukka-Pekka Pyylampi 029 551 3002, Heidi Lauttamäki 029 551 3029, rahoitusmarkkinat@stat.fi

Head of Department in charge: Katri Kaaja

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Updated 22.4.2021

Referencing instructions:

Official Statistics of Finland (OSF): Financial statement statistics on credit institutions [e-publication].
ISSN=2342-5180. 4th quarter 2020. Helsinki: Statistics Finland [referred: 29.3.2024].
Access method: http://www.stat.fi/til/llai/2020/04/llai_2020_04_2021-04-22_tie_001_en.html