Municipality Finance Plc
Stock exchange release
2 March 2017 at 2:00 PM (EET)
Municipality Finance’s Annual Report for 2016 published
Municipality Finance’s Annual Report, Corporate Governance Statement, and Remuneration Report for the year 2016 have been published in Finnish and in English on the company’s website at www.munifin.fi.
Municipality Finance has also published Pillar 3 Disclosure document in accordance with Regulation (EU) No 575/2013 and Directive 2013/36/EU. The document is available in English on the company’s website.
MUNICIPALITY FINANCE PLC
Pekka Averio
President and CEO
tel. +358 500 406 856
Measured by the group’s balance sheet, Municipality Finance Plc (MuniFin) is Finland’s second largest credit institution. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland. MuniFin is an integral part of the Finnish public economy.
MuniFin’s balance sheet totals approximately EUR 34 billion. Funding for the company is primarily obtained through the international capital markets. MuniFin’s funding is guaranteed by the Municipal Guarantee Board.
MuniFin’s mission is to ensure competitive funding for local government investments and state-subsidised social housing production in all market conditions. The company’s customers are Finnish municipalities, municipal federations, municipally controlled companies and non-profit housing corporations. The customers use financing solutions provided by MuniFin to finance social and non-profit targets such as day care centres, schools, housing, hospitals and other municipal investments.
The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Ltd.