Finland’s economic and employment situation exceeded expectations in 2021 and reached a surprisingly good level.
The central government’s COVID-19 support package ensured that municipalities have not had to shoulder the negative economic effects of the pandemic. As a result, the municipal sector’s demand for financing was lower than expected in 2021. The demand for state-subsidised housing finance grew moderately, as expected.
New long-term financing totalled EUR 3.7 billion in 2021. The Group’s net operating profit excluding unrealised fair value changes amounted to EUR 213 million and it increased by 8.0%.
More customer benefits and support amidst change
Finland’s economy grew more than expected in 2021. The central government’s COVID-19 support temporarily improved the financial situation in municipalities, reducing their demand for financing. Our green and social finance continued growing. Watch the video for a brief summary of the year 2021.
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