1 Reporting entities during January June 2016

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1 1 Reporting entities during January June 216 As in the previous years, the number of MFIs in Finland decreased further between January 215 and June 216, due to mergers among credit institutions. At the end of June 216 there were MFIs operating in Finland, of which 278 were credit institutions and 11 were money market funds. The MFI sector also includes the Bank of Finland. The MFI sector contracted by 11 credit institutions during the timeframe, mainly due to mergers within the OP Group and the Savings Bank Group. In addition, two new MFIs commenced operations in Finland (Table 1). There were a total of MFIs in the euro area. Germany had the most MFIs among the euro area countries, as many as It was followed by France, Austria and Italy. The euro area countries had 661 money market funds, of which the highest number was registered in France, Luxembourg and Ireland. More detailed information on changes in the credit institutions sector during January 215 and June 216 is presented in the adjacent tables. Chart 1. of MFIs in euro area in June Other monetary financial institutions Money market funds Credit institutions DE FR AT IT IE LU ES FI NL PT BE LV CY GR EE MT SK SI LT Table 1. MFIs commencing operations in Finland during January 215 and June 216 Collector Credit AB, filial i Finland September 215 Sp-Kiinnitysluottopankki Oyj March An up-to-date list of Finnish MFIs is available at the Bank of Finland s website at: oslista.aspx. Suomen Pankki Finlands Bank Financial Statistics Annual Review 216 1

2 Table 2. MFIs (excl. money market funds) merged in during January 215 and June 216 M Yttermark Sparbank and Kristinestads Sparbank 215M5 R Närpes Sparbank Ab M Sotkamon Osuuspankki 215M5 R Kainuun Osuuspankki M Itä-Uudenmaan Osuuspankki 215M7 R Porvoon Osuuspankki -> new name Itä-Uudenmaan Osuuspankki M Hartolan ja Sysmän Osuuspankki 215M8 R Etelä-Päijänteen Osuuspankit -> new name: Järvi-Hämeen Osuuspankki M Mynämäen Osuuspankki 215M8 R Nousiaisten Osuuspankki -> new name: Mynämäen-Nousiaisten Osuuspankki M Myrskylän Osuuspankki 215M9 R Orimattilan Osuuspankki M Joroisten Osuuspankki 215M1 M Pyhäselän Paikallisosuuspankki R Oma Säästöpankki M Karkun Osuuspankki 215M1 R Tampereen Seudun Osuuspankki M Ylivieskan Osuuspankki 215M12 R Kokkolan Osuuspankki -> new name: Keski-Pohjanmaan Osuuspankki) M Pyhälaakson Osuuspankki 215M12 R Suomenselän Osuuspankki M Citibank International Limited, Finland Branch 216M1 R Citibank Europe Plc, sivuliike Suomessa M Östra Korsholms Andelsbank 216M2 R Vasa Andelsbank M = Merged MFI R = Receiving MFI 2 Annual Review 216 Financial Statistics Suomen Pankki Finlands Bank

3 2 Reporting entities 214 As in the previous years, the number of MFIs in Finland decreased further in 214, due to mergers among credit institutions. At the end of 214 there were 34 2 MFIs operating in Finland, of which 291 were credit institutions and 12 were money market funds. The MFI sector also includes the Bank of Finland. The MFI sector contracted by seven credit institutions during the year, mainly due to mergers within the OP Group and the Savings Bank Group. S-Bank and LähiTapiola merged into a new S-Bank. In addition, three new MFIs commenced operations in 214 (Table 3). There were a total of 6,52 MFIs in the euro area. Germany had the most MFIs among the euro area countries, as many as 1,844. It was followed by France, Austria and Italy. The euro area countries had 73 money market funds, of which the highest number was registered in France, Luxembourg and Ireland. More detailed information on changes in the credit institutions sector during 214 is presented in the adjacent tables. Chart 2. of MFIs in euro area, end Other monetary financial institutions Money market funds Credit institutions Table 3. MFIs commencing operations in Finland in 214 TF Bank AB, filial i Finland Svea Ekonomi AB, filial i Finland BNP Paribas Fortis SA/NV, sivuliike Suomessa Table 4. MFIs (excl. money market funds) merged in 214 January July August M Vaskion Osuuspankki February R Kosken Osuuspankki M Koillis-Savon Seudun Osuuspankki February R Pohjois-Savon Osuuspankki M Kantasäästöpankki Oy March R Oma Säästöpankki Oy M Juuan Osuuspankki March R Pohjois-Karjalan Osuuspankki M Eufex Pankki Oyj April R Elite Varainhoito Oy M Etelä-Karjalan Säästöpankki April R Etelä-Karjalan Säästöpankki Oy M S-Pankki Oy May M LähiTapiola Pankki Oyj R S-Pankki Oy M Suodenniemen Säästöpankki May R Oma Säästöpankki Oy M Vörå Sparbanks Aktiastiftelse June R Aktia Bank Abp M Skärgårdssparbanken Ab July R Aktia Bank Abp M Etelä-Karjalan Säästöpankki Oy November R Oma Säästöpankki Oy M = Merged MFI R = Receiving MFI Source: Bank of Finland DE FR AT IT IE LU ES FI NL PT BE LV CY GR EE MT SK SI 2 An up-to-date list of Finnish MFIs is available at the Bank of Finland s website at: oslista.aspx. Suomen Pankki Finlands Bank Financial Statistics Annual Review 216 3

4 3 Reporting entities 213 As in the previous years, the number of Finnish MFIs decreased further in 213, particularly due to mergers among credit institutions. At the end of there were 314 MFIs operating in Finland. Of these, 299 were credit institutions, 12 money market funds and two electronic money institutions. The MFI sector also includes the Bank of Finland. The MFI sector contracted by 12 credit institutions during the year, mainly due to mergers of cooperative banks. There was also a merger in the MFI sector which did not affect the number of credit institutions: a holding corporation outside the MFI sector (Aktia Plc) merged with its subsidiary (Aktia Bank Plc). Itella Bank Ltd was sold to the Savings Bank Group in spring 213. The bank s name was changed to Central Bank of Savings Bank Finland Ltd (Säästöpankkien keskuspankki Suomi Oy), and it operates as the Savings Bank Group s central credit institution. Two new credit institutions commenced operations and one was closed down. Bonum Bank Ltd was granted a deposit bank authorisation at the end of the year. The bank operates as the central credit institution of POP Banks. In order to create the central credit institution, POP Bank Association acquired ACH Finland that operated as a payment institution before obtaining its bank authorisation. Two electronic money institutions were added to the list of MFIs in 212. This was due to the revision of the ECB definition of MFIs, as a result of which companies whose primary activity consists of the issuance of electronic money are to be classified as MFIs. Electronic money institutions do not have a credit institution s authorisation. At the end of 213, there were 6,716 credit institutions in the euro area. Germany had the most MFIs among the euro area countries, as many as 1,842. It was followed by Austria, Italy and France. The euro area countries had 814 money market funds. The highest number of money market funds was registered in France, Luxembourg and Ireland. Chart 3. of MFIs in euro area, end Other monetary financial institutions Money market funds Credit institutions DE FR AT IT IE LU ES FI NL PT BE CY GR EE MT SK SI Table 5. MFIs commencing operations in Finland in 213 Avida Finans AB Bonum Pankki Oy October November 3 An up-to-date list of Finnish MFIs is available at the Bank of Finland s website at ( toslista.aspx). 4 Annual Review 216 Financial Statistics Suomen Pankki Finlands Bank

5 Table 6. Units exiting in Finnish MFI sector in 213. Nets Oy April Table 7. Credit institutions merged in 213 M Längelmäen Säästöpankki March R Säästöpankki Sinetti M Parkanon Säästöpankki April R Oma Säästöpankki M Forssan Seudun Osuuspankki August M Somerniemen Osuuspankki M Someron Osuuspankki R Lounaismaan Osuuspankki M Hellanmaan Osuuspankki August R Lapuan Osuuspankki M Keikyän Osuuspankki September R Satakunnan Osuuspankki M Ähtärin Osuuspankki September R Etelä-Pohjanmaan Osuuspankki M Uukuniemen Osuuspankki September R Kesälahden Osuuspankki M Sideby Andelsbank September M Övermark Andelsbank R Körsnäs Andelsbank M Mutual Fund eq Short-Term Money Market November R Mutual Fund eq Money Market (UCITS) M Hauhon Osuuspankki December M Hämeenlinnan Osuuspankki M Lopen Osuuspankki R Etelä-Hämeen Osuuspankki M Ikaalisten Osuuspankki December M Karvian Osuuspankki R Satapirkan Osuuspankki M = Merged MFI R = Receiving MFI Suomen Pankki Finlands Bank Financial Statistics Annual Review 216 5

6 4 Reporting entities 212 The number of MFIs in Finland decreased similarly to last year. The number was reduced particularly due to a change in the definition of money market fund and mergers of credit institutions. At the end of there were 329 MFIs in Finland. Of these, 313 were credit institutions, 13 money market funds 5 and 2 electronic money institutions. The Bank of Finland is also included in the MFI sector. The MFI sector contracted by 14 credit institutions during the year, mainly due to mergers within the OP-Group of cooperative banks. In addition, a few new Finnish credit institutions commenced operation and one foreign branch was closed down. Two electronic money institutions were added to the MFI list in 212, since the ECB s revised definition of monetary financial institution states that companies whose primary activity consists of the issuance of electronic money are to be classified as MFIs. Electronic money institutions do not have a credit institution s authorisation. In the euro area, there were a total of 7,59 MFIs at the end of 212. Among the euro countries, Germany had the most MFIs, 1,916. It was followed by France, Austria and Italy. The euro countries had a total of 987 money market funds. The highest number of money market funds was registered in France, Luxembourg and Ireland. More detailed information on changes in the Finnish MFI sector in 212 is presented in Tables Chart 4. of MFIs in euro area, end Credit institutions Money market funds Other monetary financial institutions DE FR AT IT IE LU ES FI NL PT CY BE GR EE MT SK SI Table 8. MFIs commencing operations in Finland in 212 Kymenlaakson Osuuspankki OP Process Services Ltd May June Table 9. Units exiting in Finnish MFI sector in 212 EFG Bank AB filial i Finland March 4 An up-to-date list of Finnish MFIs is available at the Bank of Finland s website at oslista.aspx. 5 In January 212, a major proportion of money market funds were reclassified as bond funds as the classification criteria for money market funds under the ECB's regulation on MFI balance sheet statistics were revised. For further information, see Box 2. 6 Annual Review 216 Financial Statistics Suomen Pankki Finlands Bank

7 Table 1. MFIs merged in 212 (excl. money market funds) M Maskun Osuuspankki March R Lounaisrannikon Osuuspankki M Luvian Osuuspankki March R Nakkila-Luvian Osuuspankki T Luottokunta Ltd March R Eurocard Ltd M Huhtamon Osuuspankki April R Vampulan Osuuspankki M Haminan Seudun Osuuspankki May M Kotkan Seudun Osuuspankki M Kouvolan Seudun Osuuspankki M Kymijoen Osuuspankki M Virolahden Osuuspankki R Kymenlaakson Osuuspankki M Lappo Andelsbank August R Andelsbanken för Åland M Sauvon Osuuspankki September R Lounais-Suomen Osuuspankki M = merged MFI R = receiving MFI T = business transfer Table 11. of MFI branches and personnel Branches Personnel Suomen Pankki Finlands Bank Financial Statistics Annual Review 216 7

8 5 Reporting entities 211 The number of Finnish monetary financial institutions decreased in 211. This was mainly due to mergers among MFIs. At the end of there were 354 MFIs in Finland. Of these, 324 were credit institutions and 29 money market funds 7 In addition, the MFI sector includes the Bank of Finland. The sector was reduced during the year by 11 MFIs, mostly on account of mergers among cooperative bank groups. In addition, a few new domestic credit institutions and one foreign branch began operation. At end-211, Germany had the most MFIs among the euro area countries, as many as 1,956. It was followed by France, Italy and Austria. The highest number of money market funds was registered in France, Luxembourg and Ireland (Chart 5). The adjacent tables present an overview of the changes occurring in the MFI sector in 211. Table 12. MFIs commencing operations in Finland in 211 AS LHV Pank, Branch in Finland February Siikalatvan Osuuspankki March Stadshypotek AB (publ), filialverksamheten i Finland May Suur-Savon Osuuspankki May Eufex Bank Ltd June Itella Bank Ltd September Resurs Bank AB Finnish Branch October Table 13. Units exiting in Finnish MFI sector in 211 eq Bank Ltd July The Royal Bank of Scotland public limited company, Finnish Branch December Chart 5. of MFIs in euroa area, end Credit institutions Money market funds Other monetary financial institutions DE FR IT AT IE LU ES FI NL PT CY BE GR SK EE ML SI 6 An up-to-date list of Finnish MFIs is available on the Bank of Finland s website at oslista.aspx. 8 Annual Review 216 Financial Statistics Suomen Pankki Finlands Bank

9 Table 14. MFIs merged in 211 (excl. money market funds) M Tuuloksen Säästöpankki February R Lammin Säästöpankki M Kestilän Osuuspankki March M Rantsilan Osuuspankki R Siikalatvan Osuuspankki M SEB Gyllenberg Private Bank Ltd May R Skandinaviska Enskilda Banken AB (publ) M Etelä-Savon Osuuspankki May M Juvan Osuuspankki M Pieksämäen Osuuspankki M Savonlinnan Osuuspankki R Suur-Savon Osuuspankki M Varpaisjärven Osuuspankki August R Koillis-Savon Seudun Osuuspankki M Lapinlahden Osuuspankki October M Vieremän Osuuspankki R Osuuspankki Poppia M Haapajärven Osuuspankki December R Suomenselän Osuuspankki M Kokemäen Osuuspankki December M Harjavallan Osuuspankki R Satakunnan Osuuspankki M Sampo Housing Loan Bank plc December R Sampo Bank plc F = merged MFI V = receiving MFI Suomen Pankki Finlands Bank Financial Statistics Annual Review 216 9

10 6 Reporting entities 21 The number of monetary financial institutions operating in Finland decreased in 21. The changes were primarily due to changes in the credit institution sector. At the end of 21 there were 365 MFIs in Finland. Of these, 333 were credit institutions and 31 money market funds 8. The Bank of Finland is also included in the MFI sector. The MFI sector contracted somewhat during the year, mainly due to changes within cooperative banks. In addition, a few new credit institutions commenced operations and a few existing ones discontinued operations. 9 The following tables provide more details on changes in the MFI sector in 21. Chart 6. of Finnish credit institutions Chart 7. of MFIs in euro area, end Germany France Italy Austria Ireland Luxembourg Spain Finland Netherlands Portugal Cyprus Belgium Greece Slovakia Malta Slovenia 8 One of the money market funds had not commenced operations. 9 The number of MFIs here is lower than the number of MFIs in the ECBs list of MFIs (37). This is due to the fact that the Bank of Finland updates the ECBs list of MFIs only after a merger has been completed, or a credit institution has commenced or discontinued operations. Therefore, changes at the turn of the year are not shown on the ECB list until the early part of the following year. 1 Annual Review 216 Financial Statistics Suomen Pankki Finlands Bank

11 Table 15. MFIs commencing operations in Finland in 21 Nordnet Bank AB Finnish branch Diners Club Finland, Branch of Diners Club Nordic AB Folkia AS branch in Finland Koillis-Savon Osuuspankki Pohjois-Savon Osuuspankki May October August October December Table 16. Units exiting in Finnish MFI sector in 21 Sofia Bank Plc ACH Finland Plc Diners Club Finland Oy BMW Financial Services Scandinavia AB - Suomen sivuliike March May September December Table 17. MFIs merged in 21 (excl. money market funds) (merged MFI = M, receiving MFI = R) M Luopioisten Säästöpankki March R Aito Säästöpankki Oy M Kiukaisten Osuuspankki May M Hinnerjoen Osuuspankki R Euran Osuuspankki M Nilsiän Osuuspankki October M Koillis-Savon Osuuspankki R Koillis-Savon Osuuspankki M Kovelahden Osuuspankki November R Jämijärven Osuuspankki M Alahärmän Osuuspankki November M Kortesjärven Osuuspankki M Ylihärmän Osuuspankki R Pohjanmaan Osuuspankki M Kuhmalahden Osuuspankki December M Pälkäneen Osuuspankki R Kangasalan Seudun Osuuspankki M Iisalmen Osuuspankki December M Kuopion Osuuspankki M Varkauden Osuuspankki R Pohjois-Savon Osuuspankki Suomen Pankki Finlands Bank Financial Statistics Annual Review