Home > Statistics > Investment service companies > 2020 > 2nd quarter > Investment service companies’ commission income and operating profit decreased in the second quarter of 2020

Published: 15 October 2020

Investment service companies’ commission income and operating profit decreased in the second quarter of 2020

The net operating profit of investment service companies was EUR 25 million in the second quarter of 2020. EUR five million less operating profit was accumulated than in the corresponding quarter of the previous year. Commission income fell by EUR 11 million to EUR 88 million. These data derive from Statistics Finland’s statistics on investment service companies..

Investment service companies’ operating profit by quarter in 2014 to 2020, 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

Commission income totalled EUR 88 million in the second quarter of 2020. The fall compared to the corresponding period of last year amounted to EUR 11 million, or 10.7 per cent. Commission expenses, in turn, amounted to EUR 23 million, which corresponds to the amount of commission expenses in the corresponding quarter in the year before.

Administrative expenses

In the second quarter of 2020, investment service companies had in total EUR 44 million in administrative expenses, which was EUR three million less than in the corresponding quarter in 2019. Personnel expenses amounted to EUR 26 million, or some 58 per cent of administrative expenses. Personnel expenses were around EUR three million less than one year earlier.

Balance sheets

At the end of the second quarter of 2020, the aggregate value of the balance sheets was EUR 338 million. The growth from the second quarter of 2019 was about five per cent. The share of own equity of the balance sheet total rose from 67 per cent in the second quarter of the year before to 69 per cent.

At the end of the second quarter of 2020, there were 50 investment service companies operating in Finland, 30 of which generated a positive operating result.

Source: Investment firms, Statistics Finland

Inquiries: Jukka-Pekka Pyylampi 029 551 3002, Heidi Lauttamäki 029 551 3029

Head of Department in charge: Mari Ylä-Jarkko

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Appendix tables

• Appendix table 1. Profit and loss accounts of investment firms 1.1.- 30.6.2020, EUR thousands (15.10.2020)
• Appendix table 2. Balance sheet of investment firms 1.1.- 30.6.2020, EUR thousands (15.10.2020)

Figures

• Appendix figure 1. Investment firms' commission income by quarter 2014-2020, EUR million (15.10.2020)
• Appendix figure 2. Investment firms commission income by quarter, 2nd quarter 2014-2020, EUR million (15.10.2020)

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Updated 15.10.2020