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Impact on society

Finnvera has an important social role in facilitating and augmenting Finnish enterprise activities. Through export solutions, Finnvera also contributes to the exports of Finnish know-how abroad.

The main indicators of impacts include the number of new enterprises and jobs created by means of financing and the ratio of exports covered by export credit guarantees to Finland’s total exports.

Finnvera's impact on society

Finnvera's impact on society

Self-sustainability and capital adequacy as the cornerstones

As a State-owned company, Finnvera can take greater risks in financing than banks can; the weak economic situation of recent years has emphasised this aspect even more. 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 2015. Export financing has also been self-sustainable during Finnvera’s 17 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 to ensure the company's ability to bear risks and to keep the costs of funding reasonable. Finnvera’s capital adequacy must be at least 12 per cent. By the end of 2015, the figure was 18.1 per cent. In 2014, the corresponding figure was 17.8 per cent.

Financial impacts

Financial impacts

Key indicators for financial responsibility

Finnvera Group, MEUR 2015 2014 2013
- Net interest income, and fee and commission income and expenses 197.3 188.8 184.0
Subsidies and compensation for losses      
- Interest subsidies passed on to clients and other interest subsidies 3.4 6.4 8.8
- Compensation for credit and guarantee losses 82.6 63.7 48.0
Impairment losses on receivables, guarantee losses 97.2 97.5 111.6
Operating expenses      
- Personnel expenses 30.4 28.1 29.9
- Other administrative expenses 13.6 12.7 13.0
Amortisation and other operating expenses 5.7 6.1 8.4

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