Investment service companies’ commission income increased in the first quarter of 2018

The net operating profit of investment service companies was EUR 34 million in the first quarter of 2018. Some EUR one million less operating profit was accumulated than in the corresponding quarter last year. Commission income increased by EUR six million to EUR 110 million from one year back. These data derive from Statistics Finland’s statistics on investment service companies.

Investment service companies’ operating profit by quarter in 2014 to 2018, 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 110 million in the first quarter of 2018. Growth compared to the corresponding period of last year amounted to EUR six million, or 5.4 per cent. Compared to the previous quarter, EUR 42 million less commission income was accumulated. In turn, commission expenses amounted to EUR 30 million, which is EUR four million, or 13.9 per cent more than one year previously. Compared with the previous quarter, there was EUR one million more commission expenses.

Administrative expenses

In the first quarter of 2018, investment service companies had EUR 47 million in administrative expenses, which was EUR one million less than in the year before and EUR 15 million lower than in the previous quarter. Personnel expenses amounted to EUR 27 million, or some 58 per cent of administrative expenses. Personnel expenses decreased by EUR two million from the previous year’s corresponding quarter. Other administrative expenses amounted to EUR 20 million.

Balance sheets

At the end of the first quarter of 2018, the aggregate value of the balance sheets was EUR 383 million. The balance sheets grew by 10.6 per cent year-on-year. The share of own equity of the balance sheet total decreased from 58.1 to around 56.8 per cent. Due to investment service companies renewed FINREP reporting practices the balance sheet items are not in all respects fully comparable between 2018 and earlier years.

At the end of the first quarter of 2018, there were 64 investment service companies operating in Finland, of which 37 generated a positive operating result.

Source: Investment firms, Statistics Finland

Inquiries: Antti Suutari 029 551 3257, Jarkko Kaunisto 029 551 3551

Director in charge: Ville Vertanen

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Updated 20.6.2018

Referencing instructions:

Official Statistics of Finland (OSF): Investment service companies [e-publication].
ISSN=2342-5202. 1st quarter 2018. Helsinki: Statistics Finland [referred: 22.11.2024].
Access method: http://www.stat.fi/til/spy/2018/01/spy_2018_01_2018-06-20_tie_001_en.html