Home > Statistics > Investment service companies > 2017 > 3rd quarter > Investment companies’ commission income increased and their operating profit decreased in the third quarter of 2017

Published: 15 December 2017

Investment companies’ commission income increased and their operating profit decreased in the third quarter of 2017

The net operating profit of investment service companies was EUR 35 million in the third quarter of 2017. EUR 12 million less operating profit was accumulated than in the corresponding quarter last year. Commission income increased by EUR nine million to EUR 102 million. These data derive from Statistics Finland’s statistics on investment service companies.

Investment firms’ net operating profit by quarter 2014-2017, EUR million

Investment service companies offer their customers services related to investment services such as investment advisory services, asset management, and reception, intermediation and implementation of trading assignments in monetary instruments. Commission income and expenses are the main items related to investment service companies’ income and expenses in the profit and loss account In addition to commission income and expenses, operating profit is considerably affected by administrative expenses. In some cases, other items, such as profit or loss from non-current assets classified as held for sale can have a major impact on profit for the financial period.

Commission income and expenses

In the third quarter, a total of EUR 102.5 million were accumulated as commission income. Growth from the corresponding period of last year amounted to EUR 8.9 million or 9.6 per cent. Compared with the previous quarter, EUR 10.0 million less commission income was accumulated. Investment service companies accrued a total of EUR 25.7 million in commission expenses, which was EUR 1.4 million or 5.7 per cent more than one year earlier. Compared with the previous quarter, there was EUR 2.3 million less commission expenses.

Administrative and operating expenses

In the third quarter of 2017, investment service companies had a total of EUR 44.9 million in administrative expenses, which is EUR 2.5 million less than one year previously and EUR 1.0 million less than in the previous quarter. Personnel expenses amounted to EUR 26.7 million, or around 59 per cent of administrative expenses. Personnel expenses increased by EUR two million from the year before. Other administrative expenses amounted to EUR 18 million, which is nearly EUR one million more than one year earlier.

Balance sheets

The aggregate value of the balance sheets was EUR 407 million. The balance sheets grew by 6.3 per cent from EUR 383 million in the third quarter of 2016. The share of own equity in the total of the balance sheets diminished from 64.6 per cent to around 61.7 per cent.

At the end of the third quarter of 2017, there were 66 investment service companies operating in Finland, of which 43 generated a positive operating result.

Source: Investment firms, Statistics Finland

Inquiries: Jarkko Kaunisto 029 551 3551, Pekka Tamminen 029 551 2460

Director in charge: Ville Vertanen

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Appendix tables

• Appendix table 1. Profit and loss accounts of investment firms 1.1.- 30.9.2017, EUR thousands (15.12.2017)
• Appendix table 2. Balance sheet of investment firms 1.1.- 30.9.2017, EUR thousands (15.12.2017)

Figures

• Appendix figure 1. Investment firms' commission income by quarter 2014-2017, EUR million (15.12.2017)
• Appendix figure 2. Investment firms commission income by quarter, 3rd quarter 2014-2017, EUR million (15.12.2017)

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Updated 15.12.2017