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Published: 1 July 2021

Operating profit of banks operating in Finland was 1,2 billion in the first quarter of 2021

The operating profit and net income of credit institutions engaged in banking in Finland amounted to EUR 1.2 billion in the first quarter of 2021. 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 2021, EUR million

Net income from financial operations and operating profit of banks operating in Finland, 1st quarter 2005 to 2021, EUR million

Interest income and expenses

Credit institutions engaged in banking in Finland accumulated EUR 1.6 billion in interest income in the first quarter of 2021, which was EUR 0.2 billion less than in the corresponding quarter in the year before. Interest expenses, in turn, amounted to EUR 0.4 billion in the first quarter, which is around EUR 0.3 billion less than one year earlier. The net income from financial operations calculated as the difference between these was EUR 1.2 billion. The net income from financial operations grew by 4.6 per cent from the respective quarter of the year before, or by around EUR 52 million.

Administrative expenses

Administrative expenses are a significant expense item for banks operating in Finland. In the first quarter, banks had EUR 1.4 million in administrative expenses, which was around EUR 150 billion less than in the corresponding quarter of the year before. Wages and salaries made up EUR 0.8 billion, or 59.2 per cent of administrative expenses.

Operating profit/loss

The operating profit, or profit from continuing operations before taxes, was EUR 1.2 billion in the first quarter of 2021. The operating profit increased by EUR 0.6 billion from the previous year’s corresponding quarter.

Balance sheet

The aggregate value of the balance sheets of banks was EUR 788 billion at the end of the first quarter. The value of the balance sheets grew by EUR 40 billion, or by around 5.5 per cent from the previous year’s corresponding quarter. The combined equity amounted to EUR 46 billion, which was 6.8 per cent, or around EUR three billion more than one year earlier. On average, equity made up 5.9 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 01.7.2021

Referencing instructions:

Official Statistics of Finland (OSF): Financial statement statistics on credit institutions [e-publication].
ISSN=2342-5180. 1st quarter 2021. Helsinki: Statistics Finland [referred: 28.3.2024].
Access method: http://www.stat.fi/til/llai/2021/01/llai_2021_01_2021-07-01_tie_001_en.html