Finnish state-owned financier Finnvera Group recorded a profit of EUR 417 million for January to September 2026, a 16% increase compared with the same period a year earlier, driven by the reversal of loss provisions and higher fee income.

Finnvera’s result for the nine-month period was boosted primarily by the reversal of expected credit loss provisions totalling EUR 251 million in export credit guarantee and special guarantee operations, as well as a EUR 29 million rise in net fee and commission income to EUR 154 million. Net interest income grew 2% to EUR 93 million, while realised credit losses were EUR 35 million higher than in the comparison period.

The group’s balance sheet total rose 8% to EUR 16.7 billion, and off-balance-sheet commitments increased 15% to EUR 19.3 billion. Non-restricted equity and the assets of the State Guarantee Fund, which together form the group’s capital buffers against future losses, grew 17% to EUR 2.9 billion. Expected credit losses on the balance sheet fell 26% to EUR 0.7 billion.

Export financing activity remained strong. In January to September, Finnvera granted export credit guarantees, export guarantees and special guarantees totalling EUR 6.5 billion, up from EUR 6.3 billion in the same period of 2025. Export credits granted amounted to EUR 5.1 billion, though EUR 2.6 billion of that total subsequently fell through. Total export credit guarantee exposure at end-September stood at EUR 24.6 billion, up 6% from year-end 2025.

In domestic financing, Finnvera granted loans and guarantees of EUR 0.8 billion, a 6% increase year-on-year. Together with other financiers, the company supported projects with a combined value of EUR 1.9 billion. The Growth Loan for micro-enterprises and start-ups, relaunched in February 2026, resulted in EUR 17 million granted to 424 companies by end-September. Finnvera also participated in financing 427 business ownership transfers totalling EUR 75 million.

The SME and midcap business recorded a loss of EUR 8 million, partly reflecting a reduction in the state compensation rate for domestic financing losses from 50% to 40% effective July 2026. The Large Corporates business contributed EUR 375 million to the result, and subsidiary Finnish Export Credit Ltd added EUR 50 million. The group’s customer satisfaction score, measured by Net Promoter Score, stood at 77 points, two points below the prior-year level. The profit outlook for full-year 2026 remains unchanged from the guidance issued in August.

Source: finnvera.fi