The Finnish banking system include commercial banks, savings banks and branches and subsidiaries of foreign banks. The banking sector is dominated by four major institutions: OP Financial Group, Nordea, Danske Bank and Municipality Finance (MuniFin). Nordea is the largest bank by assets and OP is the largest banking group by market share. Finnish Financial Supervisory Authority is responsible for supervision of financial and insurance markets. Bank of Finland (or Suomen Pankki), founded on March 1, 1812, is the central bank of the country.


Nordea Bank Abp, headquartered in Helsinki, is the largest bank in Finland in terms of total assets. It also the leading bank in the Nordic markets including Sweden, Denmark and Norway. With 29,000 employees, it serves over 10 million household and corporate customers through the largest network of branches in the Nordic and Baltic region. At March 31, 2020, Nordea’s total assets amounted to US$664 billion. The Bank boasts the strong credit ratings Aa3, AA- and AA- from Moody's, Fitch and Standard & Poor's, respectively. The company's shares are listed on the Helsinki, Copenhagen and Stockholm stock exchanges with a market capitalization of US$29 billion as of June 15, 2020.

OP Financial Group

OP Financial Group, established in 1902, is the second largest financial institution in Finland based on assets and the largest by market share. The company’s core areas are Private & SME banking, Corporate and Institutional banking, and Insurance. The Group includes about 160 cooperative banks (or local retail independent banks), OP Cooperative (central institution), OP Mortgage Bank, OP Card Company, OP Corporate Bank, OP Insurance Ltd, OP Asset Management and OP Life Assurance Company, among others. In June 2019, OP Insurance became Pohjola Insurance.

Municipality Finance

Municipality Finance (MuniFin) is the third largest bank in Finland as measured by total assets. With lending portfolio of €22.4 billion, total funding of €30.9 billion and new long-term funding of €7.4 billion, MuniFin offers products and services only to Finnish municipalities and non-profit housing companies. The Municipality Finance’s shareholders are municipalities (53%), public sector pension fund Keva (31%) and Finnish government (16%). The company was established in 1990 and is headquartered in Helsinki. MuniFin has total assets of about US$41 billion.

Danske Bank

Danske Bank A/S Finland Branch, with 1,797 full-time equivalent staff, is a commercial bank providing a broad array of products and services including savings and investments, debit and credit cards, online and mobile banking as well as various loan products including housing loans, target loans, one-time loans (minimum loan amount €5,000), consumer loans (limit is €2K - €10K), student loans, and ASP loans.


Svenska Handelsbanken has been present in Finland since 1985. With over 40 branches across the country, it is one of the top 5 banks in Finland by market share. It offers a full array of financial products and services to private and corporate customers including credit cards, bank accounts, lending products, mobile and online banking, payment services, assets management, pension solutions, trade and export finance, risk management, investment products and much more.

Savings Banks Group

The Savings Banks Group (Säästöpankkiryhmä), founded in 1823, consists of 23 independent deposit banks and serves 470,000 customers through approximately 150 branches across Finland. The company reported revenue of €363 million, profit before tax of €94.8 million, total assets of €12 billon, loans of €8.9 billion and total equity of €1.2 billion during its fiscal year 2019. The Group is headquartered in Helsinki and employs around 1,400 staff.

Aktia Bank

Aktia Bank plc is one of the top 10 banks in Finland with about 400,000 customers, 780 employees, more than 30 branches and €9.3 billion in total assets. It provides standard banking products, wealth management, online banking as well as life insurance, pension solutions, treasury and real estate services. The company was established in 1991 by the merger of 8 savings banks. The Bank’s main subsidiaries are Aktia Fund Management Company, Aktia Life Insurance, Aktia Finance and Aktia Asset Management.


Founded in 2007, S-Bank Ltd (or S-Pankki) is part of S-Group, a network of cooperatives in the retail and service segments. It is the first so-called supermarket bank in the country. S-Pankki provides banking products primarily to the S-Group’s customer-owners. It offers savings and current accounts, debit and credit cards, personal loans, mortgages, student loans, insurance, asset management as well as mobile and online banking. The Bank boasts 3.1 million customers, 2.3 million international payment cards, €6.0 billion in deposits, €4.8 billion in granted loans and €29 million in operating profit for FY 2019.


Alandsbanken (or Bank of Åland Plc) is a Finnish banking group founded in 1919 and is headquartered in Mariehamn, the capital and the largest city of Åland Islands, an archipelago province and an autonomous territory. The company's Swedish head office is located in Stockholm. With €5.6 billion in assets and €3.3 billion in deposits, the Bank employs 690 professionals and serves over 90,000 clients through 30 branches in Finland and Sweden including Espoo, Turku, Helsinki, Vaasa, Pargas, Tampere, Malmo and Gothenburg.

POP Bank Group

Founded in 1997, POP Bank Group (or POP Banken) is a Finnish group of cooperative banks serving over 250,000 customers including individuals as well as small and rural businesses such as agricultural and forestry companies. With about 750 employees, the company maintains 76 branches located primarily in Western Finland. There are also several offices in Northern and Eastern Finland. Bonum Bank (Bonum Pankki) is the central credit institution for the Group. The company has a total balance sheet of about €4.5 billion.

See also: Foreign Banks in Finland

Updated as of June 15, 2020