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Home BUSINESSDomestic banks' net income down by 5% in Q2
Wed, 26 Oct, 2016 12:02:24 AM
FTimes Report, Oct 26
Domestic banks' net income from financial operations and operating profit, 2nd quarter 2005-2016, EUR million. Source: Credit institutions' annual accounts, Statistics Finland.
Domestic banks’ net income from financial operations amounted to EUR 571 million in the second quarter of 2016, according to Statistics Finland’s data.
Their net income from financial operations contracted by five per cent and operating profit by 37 per cent from the respective quarter of the year before as per the data derived financial statement statistics on credit institutions.
Over the second quarter, the interest income of domestic banks amounted to EUR 1.1 billion, which is EUR 100 million less than one year previously.
The interest income went down by EUR 61 million From the previous quarter.
Over the quarter, interest expenses amounted to EUR 547 million. Interest expenses went down by 14 per cent from the previous quarter.
Commission income amounted to EUR 474 million in the second quarter, which is EUR four million more than one year earlier. Compared to the previous quarter, commission income went up by EUR 8 million.
In the second quarter of 2016, domestic banks’ administrative expenses amounted to EUR 644 million.
Compared with the previous quarter, administrative expenses grew by EUR 22 million. The aggregate value of the balance sheets was EUR 506 billion.
The balance sheet was five per cent down from one year ago. The share of own equity in the total of the balance sheets was five per cent.
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