MuniFin managed once again to improve its result in January-June 2017. Also the Finnish economy developed positively in the first half of 2017. The positive sentiment was evident in the municipalities’ economic situation, which was better than expected. This was reflected in a slight decrease in the demand for financing when compared to the previous year.
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The interest in MuniFin’s financial services remained high in 2016. The total of loans withdrawn increased slightly year on year, and MuniFin’s market share grew.
New loans issued stood at EUR 2.9 billion, and the loan portfolio increased to EUR 20.9 billion.
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In 2016, the Municipality Finance Group’s net interest income grew by 19.7% year-on-year, totalling EUR 206.1 million (2015: EUR 172.2 million).
The Group’s net operating profit amounted to EUR 174.2 million (2015: EUR 151.8 million). The growth over the previous year was 14.8%.
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The uncertainty of the customers’ operating environments had a surprisingly marginal impact on MuniFin’s operations. In the first half of 2016, MuniFin strengthened its position among its customers compared to the previous year.
New loans withdrawn in January-June amounted to EUR 1.5 billion and the lending portfolio grew to EUR 20.5 billion.
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MuniFin made excellent progress in 2015, despite continuous changes. 2015 will go down in MuniFin’s history as a year of success amid great pressure for change.
MuniFin was defined a nationally significant credit institution. From the beginning of 2016, the company has been under the direct supervision of the European Central Bank.
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The Municipality Finance Group’s net operating profit amounted to EUR 151.8 million in 2015 (2014: EUR 144.2 million). The growth over the previous year was 5.3%.
Net interest income grew by 7.6% compared with the previous year, totalling EUR 172.2 million (2014: EUR 160.0 million).
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Despite the uncertainty in the operating environment, MuniFin had a very strong beginning of the year 2015. The Group’s net operating profit amounted to EUR 78.3 million, which represents a 23.6% growth from the previous year.
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The total amount of lending granted by the company grew by 8 per cent to EUR 19.2 billion. EUR 2.8 billion in new loans were withdrawn during the year.
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In 2014, the Municipality Finance Group’s net interest income grew by 7% compared with the previous year, totalling EUR 160.0 million (2013: EUR 149.5 million).
The Group’s net operating profit amounted to EUR 144.2 million (2013: EUR 141.3 million). The growth was 2% year-on-year.
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MuniFin’s financial result developed as planned in the first half of 2014. Customers’ demand for loans has been lower during the first half of the year compared to the previous year. With interest rates remaining low, customers continued to be active in using short-term financing.
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