Investment service companies



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2015 Investment service companies 2015, 1st quarter Net operating profit of investment service companies grew in January to March from the year before The net operating profit of investment service companies amounted to EUR 41 million in the first quarter of 2015, which was EUR 11 million more than in the respective period of the previous year. These data derive from Statistics Finland s statistics on investment service companies. Investment firms' net operating profit by quarter 20092015, EUR million Commission income and expenses Investment service companies accrued a total of EUR 103 million in commission income, which is EUR 20 million more than in the corresponding period in 2014. Commission expenses amounted to EUR 25 million, which is good EUR five million more than one year previously. Interest income and expenses Helsinki 31.8.2015 Quoting is encouraged provided Statistics Finland is acknowledged as the source.

Interest income amounted to nearly EUR half a million, which is 26 per cent more than one year earlier and EUR 46 million less than in the previous quarter. Interest expenses grew by good eight per cent from the previous year's January to March period. Administrative and operating expenses The largest expenditure item of investment firms was administrative expenses, which in the first quarter of 2015 amounted to EUR 41 million, which is 11 per cent more than in the previous year. Of the administrative expenses, personnel expenses amounted to EUR 23 million, or 57 per cent of total administrative expenses. Other operating expenses were EUR four million and they were almost on level with the corresponding quarter of the previous year. Balance sheets The aggregate value of the balance sheets was EUR 273 million. The balance sheets grew by 20.8 per cent year-on-year. The share of own equity in the total of the balance sheets was 58.5 per cent. At the end of the first quarter of 2015, there were 56 investment service companies operating in Finland, of which 42 generated a positive operating result. 2

Contents Tables Appendix table Appendix table 1. Profit and loss accounts of investment firms 1.1.- 31.3.2015, EUR thousands...4 Appendix table 2. Balance sheet of investment firms 1.1.- 31.3.2015, EUR thousands...4 Appendix table 3. Itemisation of investment firms administrative expenses 1.1.- 31.3.2015, EUR thousands...6 Figures Figures Appendix figure 1. Investment firms' commission income by quarter 20092015, EUR million...7 Appendix figure 2. Investment firms commission income by quarter, 1st quarter 20052015, EUR million...7 3

Appendix table Appendix table 1. Profit and loss accounts of investment firms 1.1.- 31.3.2015, EUR thousands Interest income Interest expenses NET INCOME FROM FINANCIAL OPERATIONS (Expenses on share capital repayable on demand) Dividend income Fee and commission income (Fee and commission expenses) Gains or (-) losses on derecognition of financial assets and liabilities not measured at fair value through profit or loss, net Gains or (-) losses on financial assets and liabilities held for trading, net Gains or (-) losses on financial assets and liabilities designated at fair value through profit or loss, net Gains or (-) losses from hedge accounting, net Exchange differences [gain or (-) loss], net Gains or (-) losses on derecognition of non financial assets, net Other operating income (Other operating expenses) TOTAL OPERATING INCOME, NET (Administrative expenses) of which: Wages, salaries and fees (including staff-related cost) of which: Other administrative expenses (Depreciation) (Provisions or (-) reversal of provisions) (Impairment or (-) reversal of impairment on financial assets not measured at fair value through profit of loss) (Impairment or (-) reversal of impairment of investments in subsidaries, joint ventures and associates) (Impairment or (-) reversal of impairment on non-financial assets) Profit or (-) loss from non-current assets and disposal groups classified as held for sale not qualifying as discontinued operations PROFIT OR (-) LOSS (Appropriations) (Tax expense or (-) income related to profit or loss from continuing operations) PROFIT OR (-) LOSS AFTER TAX FROM CONTINUING OPERATIONS Profit or (-) loss after tax from discontinued operations PROFIT OR (-) LOSS FOR THE YEAR 1.1.- 31.3.2015 354 126 228 189 102 511 25 098 65 1 143 86 321 7 137 3 804 82 778 40 777 23 210 17 567 787-23 61 41 176-861 7 395 34 642-237 34 405 Appendix table 2. Balance sheet of investment firms 1.1.- 31.3.2015, EUR thousands ASSETS Cash and cash balances at central banks Financial assets held for trading Financial assets designated at fair value through profit or loss Available-for-sale financial assets Loans and receivables Held-to-maturity investments Derivatives - Hedge accounting (assets) 1.1.- 31.3.2015. 112 156 4 325 1 275 21 622 3 697 3 258 4

1.1.- 31.3.2015 Fair value changes of the hedge items in portfolio hedge of interest rate risk (assets) Investments in subsidiaries, joint ventures and associates 12 126 Tangible assets 5 590 Intangible assets 13 515 Tax assets 1 208 Other assets 94 095 Non-current assets and disposal groups classified as held for sale TOTAL ASSETS 272 868 LIABILITIES. Financial liabilities held for trading 121 Financial liabilities designated at fair value through profit and loss 0 Financial liabilities measured at amortised cost 3 437 Derivatives - Hedge accounting (liabilities) Fair value changes of the hedge items in portfolio hedge of interest rate risk (liabilities) Provisions 1 888 Tax liabilities 7 439 Share capital repayable on demand Other liabilities 100 361 Liabilities included in disposal groups classified as held for sale TOTAL LIABILITIES 113 282 Capital 37 510 Share premium 7 419 Other equity 295 Other 3 285 Accumulated other comprehensive income -617 Retained earnings 80 210 Revaluation reserves -2 Other reserves 31 673 (-) Treasury shares -187 (-) Interim dividends TOTAL EQUITY 159 586 TOTAL EQUITY AND TOTAL LIABILITIES 272 868 5

Appendix table 3. Itemisation of investment firms thousands administrative expenses 1.1.- 31.3.2015, EUR ADMINISTRATIVE EXPENSES, total 1. Staff costs 1.1 Wages, salaries and fees 1.2 Staff-related costs 2. Other administrative expenses 2.1 Office costs 2.2 Data processing expenses 2.3 Expenses related to communications 2.4 Entertainment and marketing expenses 2.5 Research and development expenses 2.6 Other staff-related expenses (not included in staff costs) 2.7 Other administrative expenses 1.1.- 31.3.2015 40 333 1) 23 108 18 830 4 279 17 225 1) The administrative expense data of the profit and loss account differ from the specification of administrative expenses in Appendix table 3 because investment service companies can report part of their administrative expenses under Other operating expenses. 1 958 4 809 966 1 592 3 899 6 998 6

Figures Appendix figure 1. Investment firms' commission income by quarter 20092015, EUR million Appendix figure 2. Investment firms commission income by quarter, 1st quarter 20052015, EUR million 7

2015 Inquiries Jan Klavus Tarja Husso Director in charge: Ville Vertanen 029 551 3391 029 551 3534 rahoitusmarkkinat@stat.fi www.tilastokeskus.fi Source: Investment firms, Statistics Finland Communication and Information Services, Statistics Finland tel. +358 29 551 2220 www.stat.fi Publication orders, Edita Publishing Oy tel. +358 20 450 05 www.editapublishing.fi ISSN 1796-0479 = Official Statistics of Finland ISSN 2342-5202 (pdf)