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Finnvera’s impact on society

All of Finnvera’s operations are based on the principle of financial responsibility: It strengthens the operating potential and competitiveness of Finnish enterprises and offsets shortcomings in the supply of financial services.

By implementing its basic mission and by managing its own business responsibly, Finnvera has an impact on the development of the entire Finnish economy:

  • Each year, Finnvera co-finances about 3,500 start-up enterprises, which is on average ten per cent of the enterprises established in Finland annually.
  • Each year, Finnvera finances on average 20–30 domestic SMEs that are expanding their operations abroad. The active channelling of financing to enterprises seeking growth through internationalisation contributes to the growth of the Finnish economy.
  • Finnvera’s services provide financing options for Finnish SMEs operating on the domestic market and undergoing changes. These enterprises are important for the Finnish economy, for instance, as employers.
  • Finnvera uses SME financing to slow down and alleviate the negative effects of regional restructuring and to create new enterprise activities faster than old businesses vanish.
  • The exports covered by Finnvera’s guarantees account for approximately four per cent of Finland’s total exports. Companies have access to an internationally competitive selection of financial instruments for export trade. Export financing is also indirectly important for the Finnish economy and, in turn, the well-being of Finns.
  • The goal of venture capital investments is, over the medium term, to help innovative start-ups to grow and support the Finnish economy, for instance, as employers and future export companies.
Impact of Finnvera’s operations
  2014 2013 2012 2011 2010
SME financing          
Loans, domestic guarantees and export guarantees granted, MEUR 1,003 827 933 1,051 1,029
- Financing for assisted areas, MEUR 328 323 337 408 404
Number of starting enterprises 3,247 3,473 3,123 3,397 3,611
Number of new jobs 8,105 8,663 8,660 10,159 8,994
Financing / new job, EUR 1,000 124 95 108 121 101
Financing of exports          
Export credit guarantees and special guarantees offered, MEUR 5,034 3,327 5,272 3,722 2,264
- of which foreign risk, MEUR 4,129 2,705 3,747 3,706 1,900
Guarantees that came into effect, MEUR 4,004 2,738 2,414 3,159 2,642
- of which foreign risk, MEUR 3,047 2,029 2,127 2,884 2,642
Exports covered by export credit guarantees, %          
- Share of Finland’s total exports 3.6  3.8 4.5 4.5 5.8
- Share of exports to countries with political risk 5.8 8.2 9.7 8.2 9.5
Number of clients 28,800 29,700 30,000 29,900 29,300


Key indicators for financial responsibility
Finnvera, MEUR 2014 2013 2012
- Net interest income, and fee and commission income and expenses 190.2 184.0 170.0
Subsidies and compensation for losses      
- Interest subsidies passed on to clients and other interest subsidies 6.4 8.8 12.2
- Compensation for credit and guarantee losses 63.7 48.0 49.7
Impairment losses on receivables, guarantee losses 97.5 111.6 125.0
Operating expenses      
- Personnel expenses 28.1 29.9 29.8
- Other administrative expenses 12.7 13.0 12.9
Other business expenses 6.1 8.4 6.6

Case: Finnvera guarantees financing for Meyer Turku Ltd's shipbuilding contract

Self-sustainability and capital adequacy as the foundation for financial responsibility

According to the goal of self-sustainability set for Finnvera, the company’s income from operations must be sufficient in the long term to cover its operating expenses and its share of any credit and guarantee losses incurred. Self-sustainability in Finnvera’s SME financing has been attained over a period of ten years when the cumulative result is calculated up to the end of December 2014. Export financing has also been self-sustainable during Finnvera’s history of 15 years of operation. If the payment-based result of Finnvera’s predecessor, the Finnish Guarantee Board, for its last years of operation is also taken into account when reviewing the self-sustainability of export financing, economic self-sustainability is also realised over a 20-year period.

Finnvera’s capital adequacy must be sufficient in order to ensure the company's ability to bear risks and to keep the costs of funding as reasonable as possible. The company must plan its operations so that it can maintain a capital adequacy ratio of at least 12 per cent. At the end of 2014, the capital adequacy of the Finnvera Group was 18.6 per cent. The year before, the corresponding figure was 16.9 per cent.

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