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2015-08-11 13:00:00 CEST 2015-08-11 13:00:01 CEST REGULATED INFORMATION Kuntarahoitus Oyj - Interim report (Q1 and Q3)Municipality Finance Plc Interim Report H1 2015Very strong beginning of the year for Municipality Finance Municipality Finance Plc Stock Exchange Release August 11, 2015 at 2:00 pm (CET +1) Interim Report Municipality Finance Plc Interim Report H1 2015 Very strong beginning of the year for Municipality Finance Despite the uncertainty in the operating environment, the year 2015 has started well for Municipality Finance. Municipality Finance has released its results from the first half of 2015. The Group's net operating profit amounted to EUR 78.3 million (1 January-30 June 2014: EUR 63.4 million). This represents a 23.6% growth from the previous year. Net interest income grew by 6.4% compared to the previous year, reaching EUR 84.1 million (EUR 79.0 million). The balance sheet total was EUR 33.69 billion (31 December 2014: EUR 30.01 billion). Strong capital adequacy The increasing bank regulation tightens the requirements for the capital adequacy of credit institutions. The Municipality Finance Group's capital adequacy remained strong; at the end of June, the Group's total own funds totalled EUR 682.5 million (EUR 623.1 million). The ratio of total own funds to risk-weighted assets was 31.75% (33.53%) and ratio of Tier 1 capital to risk-weighted assets 30.12% (29.98%) at the end of June. Leverage ratio was 1.9% (1.8%). In January-June Municipality Finance acquired EUR 4.52 billion worth of new funding (1 January - 30 June 2014: EUR 4.18 billion). The funding was obtained at extremely competitive prices. Total funding amounted to EUR 28.82 billion (31 December 2014: EUR 26.62 billion). The long-term loan portfolio grew to EUR 19.38 billion (EUR 19.21 billion) while new loans drawn in the January-June totalled EUR 1.17 billion (1 January-30 June 2014: EUR 1.25 billion). Municipality Finance's Interim Report is available at Municipality Finance's website at munifin.fi. MUNICIPALITY FINANCE PLC Further information: Pekka Averio, President and CEO Tel. +358 500 406 856 Esa Kallio, Executive Vice President, Deputy to the CEO Tel. +358 50 3377 953 Marjo Tomminen, CFO, Senior Vice President, Finance Tel. +358 50 3861 764 Measured by the group's balance sheet, MuniFin (Municipality Finance Plc) is Finland's third 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 nearly 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 its customers in all market conditions. The company's customers are Finnish municipalities, municipal federations, municipally controlled companies and non-profit housing corporations. A significant portion of lending is used for socially responsible projects such as building hospitals, healthcare centers, schools, day care centers and homes for the elderly. The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Ltd. Read more: www.munifin.fi |
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