MuniFin’s business operations continued to grow in 2013. The total amount of lending granted by the company grew by 13 per cent to EUR 17.8 billion. EUR 3.5 billion in new loans were withdrawn during the year.
In 2013, the Municipality Finance Group’s net operating profit amounted to EUR 141.3 million (2012: EUR 138.6 million). The growth was 2% year-on-year.
Net interest income grew by 5% compared with the previous year, totalling EUR 149.5 million (2012: EUR 142.4 million).
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In the first half of 2013, investments by municipalities and municipal federations and the resulting financing requirements of the municipal sector remained at the previous year’s level. The rate of increase in lending for housing construction, on the other hand, was higher than anticipated at the end of last year. This increase in the demand for housing financing is largely due to customers looking to refinance their old state-subsidised housing loans with new market-based loans. As interest rates remained low, customers continued to actively use short-term financing.
Total lending volume at the end of the period stood at EUR 16.8 billion, which is 7.0 per cent higher than at the end of 2012. The amount of new loans withdrawn during the period increased by 17 per cent to EUR 1.9 billion.
MuniFin’s balance sheet total increased by 7 per cent to EUR 25.6 billion.
The total amount of financing granted by the company grew by 15 per cent to EUR 15.8 billion. EUR 3.3 billion in new loans were withdrawn during the year.
The Municipality Finance Group’s net operating profit amounted to EUR 138.6 million in 2012 (2011: EUR 65.3 million). The growth was 112% year-on-year.
Net interest income grew by 51% compared with the previous year, totalling EUR 142.4 million (2011: EUR 94.2 million).
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New lending by MuniFin increased by 7.1% to EUR 1.6 billion during the first six months of the year. This increase was moderate and there were no significant changes in municipalities’ funding requirements. The housing loan portfolio did, however, grow somewhat faster than in 2011.
MuniFin’s business continued to grow in 2011 in terms of both lending and funding. The lending grew by 17 per cent to EUR 13.7 billion. New loans granted amounted to EUR 2.8 billion.
The Municipality Finance Group’s net operating profit for the period was EUR 65.3 million in 2011 (2010: EUR 58.3 million). This represents a 12% increase on the previous year.
Net interest income grew by 20% to reach EUR 94.2 million (2010: EUR 78.7 million).
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The Group’s net operating profit for the period was EUR 35.0 million, which represents a 15% increase on the previous year. The Group’s long-term loan portfolio grew to EUR 12.6 billion. New loans amounted to EUR 1.5 billion.