on Finnvera Oyj (isin : XS0852098929)
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.
R. H.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all Finnvera Oyj news