MuniFin Group published its Half Year Report for January–June 2022: Business remained stable despite turbulent operating environment

MuniFin’s business operations remained stable and continued without disruptions, even though Russia’s invasion of Ukraine radically changed the global operating environment and increased overall economic uncertainty.

MuniFin’s net operating profit excluding unrealised fair value changes amounted to EUR 74 million in the first half of the year. A year before the figure was a record-high EUR 108 million. This year’s drop was expected, as it was influenced by the change in credit terms applied in late 2021.

New lending in January–June amounted to approximately EUR 2 billion and the long-term customer financing excluding fair value changes grew by 2.6% and totalled EUR 29.8 billion.

The amount of green finance aimed at environmentally sustainable investments totalled EUR 2,700 million (EUR 2,328 million) and the amount of social finance aimed at investments promoting equality and communality EUR 1,296 million (EUR 1,161 million) at the end of June.

In January–June, new long-term funding reached EUR 5,962 million (EUR 6,025 million). Group’s consolidated statement of financial position grew to EUR 47.5 billion.

– The pandemic has transformed our lives into something that is predicted to become the new normal, but the outlook has become even murkier than expected after the war broke out in Europe. Amidst all this uncertainty, it is important to note that at MuniFin, we work hard every day to create stability in these uncertain times and to ensure smooth operations for all our customers, notes Esa Kallio, President and CEO at MuniFin.

At the end of June, the MuniFin’s capital ratio was very strong. The Group will also publish a separate Pillar III Report on risk management and capital adequacy on August 8.