Finnvera Group Reports H1/2024 Results: €85 Million Profit, Lower Export Financing Demand

Finnvera Group's half-year financial report for January to June 2024 shows a robust profit of EUR 85 million, despite a 42% decrease from EUR 148 million in H1/2023. Net interest income rose 43% to EUR 69 million, while net fee and commission income went up 11% to EUR 101 million. Expense-income ratio improved to 16.4%, down from 20.8% last year.

Domestic loans and guarantees amounted to EUR 0.5 billion, down 35%, while export financing, including credit guarantees, declined 48% to EUR 1.8 billion. Finnvera's balance sheet grew 8% to EUR 15.4 billion, and contingent liabilities increased by 7% to EUR 17.6 billion. Non-restricted equity reached EUR 2.0 billion, up 5% from the previous period.

The NPS index for client satisfaction saw a significant improvement, climbing to 86 from 61. Despite lower demand for new export financing, Finnvera's overall performance across business areas remains solid, driven by better net interest income and stable loss provisions.