The past year was again marked by general economic uncertainty, even after the exceptional uncertainty of the COVID years. In these uncertain times, our role in ensuring our customers’ operations and acting as our customers’ trusted partner has grown even more important.

In 2022, the demand for our financing was slightly lower than expected. In the municipal sector, customers had less demand for finance because their income was higher than expected and tax cuts related to the social and health services reform will not be fully implemented until 2024.. In the housing sector, the materials shortage and the rising cost of raw materials slowed down construction projects. Hospital districts and joint municipal authorities sought funding more actively than we had expected.

Our funding remained stable even under the exceptional circumstances of 2022, and we continued to enjoy strong investor demand. The economic and geopolitical upheaval of 2022 has not affected MuniFin’s profitability. As expected, our result was lower in 2022 than in 2021 mostly due to planned changes in pricing.

CEO’s review

As the world shook, MuniFin’s role grew even more important

“Finland’s geopolitical and geoeconomical position upended in early 2022. Russia’s war of aggression against Ukraine intensified the economic and social uncertainties of the COVID pandemic fallout, pushed inflation into a gallop and quickly escalated interest hikes. In this turmoil, MuniFin’s role in securing Finland’s security of supply grew even stronger.”

CEO’s review

As the world shook, MuniFin’s role grew even more important

“Finland’s geopolitical and geoeconomical position upended in early 2022. Russia’s war of aggression against Ukraine intensified the economic and social uncertainties of the COVID pandemic fallout, pushed inflation into a gallop and quickly escalated interest hikes. In this turmoil, MuniFin’s role in securing Finland’s security of supply grew even stronger.”

MuniFin’s operations continued steadily

Finland’s geopolitical and geoeconomical position upended in early 2022 as Russia’s war of aggression against Ukraine intensified economic and social uncertainties. In this turmoil, MuniFin’s role as a key player in securing Finland’s security of supply grew even stronger. Watch the video for a brief summary of the year 2022.

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