Domestic banks' net income from financial operations grew by 11 per cent in the second quarter of 2013

In the second quarter of 2013, domestic banks’ net income from financial operations amounted to EUR 676 million. Net income from financial operations went up by 11 per cent compared to the corresponding quarter of the previous year; domestic banks’ lower interest expenses mainly explain the growth from last year. Compared to the previous quarter, their net income from financial operations went up by four per cent. These data derive from Statistics Finland’s financial statement statistics on credit institutions.

Change in domestic banks' net income from financial operations by quarter, EUR million

Over the quarter, interest income amounted to EUR 1.3 billion, which is 25 per cent less than one year previously. Compared with the previous quarter, interest income remained unchanged. Over the quarter, interest expenses amounted to EUR 672 million, which is one-half less than one year previously. From the previous quarter, interest expenses went down by three per cent. Of interest expenses in the second quarter, EUR 190 million concerned derivative instruments and other liabilities held for trading.

In the second quarter, the commission income of domestic banks amounted to EUR 428 million and increased by close on five per cent from the year before. Compared to the previous quarter, commission income went down by nearly five per cent. At the end of the quarter, net gains from securities and foreign currency transactions totalled EUR 333 million.

Recorded impairment losses on loans and other commitments amounted to EUR 42 million in the second quarter of this year.

The net operating profit of domestic banks amounted to EUR 519 million in the second quarter, which is 17 per cent less than one year earlier. From the previous quarter, net operating profit diminished by 20 per cent. The aggregate value of the balance sheets was EUR 460 billion. The balance sheets decreased by 14 per cent year-on-year. The share of own equity in the total of the balance sheets was 4.3 per cent.

Source: Credit institutions' annual accounts, Statistics Finland

Inquiries: Hilkka Jaatinen 09 1734 3630, Kristiina Nieminen 09 1734 2957, rahoitusmarkkinat@stat.fi

Director in charge: Leena Storgårds

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Updated 26.9.2013

Referencing instructions:

Official Statistics of Finland (OSF): Financial statement statistics on credit institutions [e-publication].
ISSN=2342-5180. 2nd quarter 2013. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/llai/2013/02/llai_2013_02_2013-09-26_tie_001_en.html