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ANNUAL REPORT 2014

Key figures

Finnvera Group 2014 2013 2012 2011 2010
Net interest income and net fee and commission income, MEUR 190.2 189.8 174.6 157.9 154.2
Administrative expenses, MEUR 40.7 42.8 42.7 42.0 41.4
Write-down on receivables and guarantee losses, MEUR 97.5 111.6 125.0 87.3 74.6
Credit loss compensation from the State, MEUR 63.7 48.0 49.7 31.9 25.4
Operating profit or loss, MEUR 102.0 75.1 54.1 62.3 62.0
Profit for the year, MEUR 101.3 74.5 53.4 59.7 62.9
Return on equity, % 11.3 9.3 7.3 9.3 10.5
Return on assets, % 1.8 1.8 1.6 2.4 2.4
Equity ratio, % 14.4 18.4 20.3 24.7 23.8
Capital adequacy ratio, Tier 2, % * 18.6 16.9 16.3 15.5 14.6
Expense-income ratio, % 25.7 27.0 27.6 29.2 30.4
Balance sheet total, MEUR 6,628.6 4,603.5 3,807.8 2,890.2 2,664.1
Shareholders’ equity, MEUR 956.0 848.5 771.8 714.8 633.5
- of which non-restricted reserves, MEUR 703.1 594.8 513.3 455.8 374.6
Personnel at year-end 394 399 411 413 418
Finnvera plc, SME financing          
Financing granted, MEUR 1,003 827 933 1,051 1,029
Outstanding commitments as per the balance sheet and contingencies at year’s end          
- Outstanding credits, MEUR 1,265 1,409 1,555 1,660 1,731
- Outstanding guarantees, MEUR 988 1,047 1,068 1,093 1,065
- Export guarantees and export credit guarantees 385 353 315 368 338
Start-up enterprises 3,247 3,473 3,123 3,397 3,611
New jobs, number 8,105 8,663 8,660 10,159 8,994
Finnvera plc, Export financing          
Export credit guarantees and special guarantees offered, MEUR 5,034 3,327 5,272 3,722 2,264
Total outstanding commitments, MEUR 12,216 10,651 10,889 9,997 8,593
Finnvera plc, clients and personnel          
Number of clients, SME Financing and Export Financing together 28,800 29,700 30,000 29,900 29,300
Personnel at year’s end 376 382 393 391 397
*The capital adequacy rate for the years 2010-2012 has been calculated according to the Basel II methods.

Formulas for the key indicators

Return on equity % (ROE)  
Operating profit/loss – income taxes x100
Equity + minority share + accumulated appropriations deducted by the deferred tax liability (average of the beginning and the end of the year)  
             
Return on assets % (ROA)    
Operating profit/loss – inome taxes x100
Total assets in average (average of the beginning and the end of the year)  
             
Equity ratio %  
Equity + minority share + accumulated appropriations deducted by the deferred tax liability x100
Total assets  
             
Capital adequacy ratio  
2013-2014 calculated according to Basel III standard method  
2010-2012 calculated according to Basel II standard method  
             
Expense-income ratio  
Administrative expenses + other operating expenses x100
Net interest income + net fee commission income + gains/losses from financial instruments carried at fair value + net income from investments + other income  

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