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HELSINKI - Finnish state-owned export credit agency Finnvera reported a profit of EUR 150 million for the first half of 2025, a 76% increase from the EUR 85 million recorded in the same period last year, according to a press release statement.
The improved financial performance was primarily attributed to reduced loss provisions for export credit guarantee and special guarantee operations, particularly related to cruise shipping companies and exposures in Russia. The company was able to reverse EUR 60 million in loss provisions during the period.
Finnvera granted EUR 0.6 billion in domestic loans and guarantees during the first half of 2025, up 14% from the previous year. Export credit guarantees, export guarantees and special guarantees totaled EUR 3.7 billion, more than double the EUR 1.8 billion recorded in the first half of 2024.
The company’s balance sheet total increased by 5% to EUR 15.6 billion, while contingent liabilities rose 13% to EUR 16.9 billion. Non-restricted equity and State Guarantee Fund assets, which serve as reserves for covering potential losses, grew by 7% to EUR 2.3 billion.
Despite the positive results, Finnvera’s net interest income decreased by 10% to EUR 62 million, and net fee and commission income fell by 18% to EUR 83 million compared to the same period last year.
CEO Juuso Heinilä noted that while the economic outlook remains positive, geopolitical uncertainties and trade disputes continue to create instability that has hindered some investments and impacted demand for Finnish exports.
The company maintained its previous outlook for 2025, acknowledging that the credit loss risk for export financing liabilities remains high, creating uncertainty about Finnvera Group’s financial performance for the remainder of the year.
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