List of Top Banks in Finland

The Finnish banking system include commercial banks, savings banks, state-owned banks and branches of foreign banks. The banking sector is dominated by four major financial institutions: OP Financial Group, Nordea, Municipality Finance (MuniFin) and Danske Bank. Nordea is the largest Finnish bank by assets and OP is the largest bank in Finland by market share. The Bank of Finland (or Suomen Pankki) is the central bank of the country. The Finnish Financial Supervisory Authority is responsible for supervision of financial and insurance markets. Following is a list of the largest banks in Finland in terms of total assets.

Nordea

Nordea Bank Abp, headquartered in Helsinki, provides a full array of high-quality financial products and services for retail and corporate customers. It boasts the strong credit ratings of Aa3, AA- and AA- from Moody's, Fitch and Standard & Poor's, respectively. The company is the safest and best bank in Finland according to Global Finance magazine. Nordea's shares are listed on the Helsinki, Copenhagen and Stockholm stock exchanges.

OP Financial Group

OP Financial Group is the second largest Finnish banking institution by assets and the largest by market share. It is a cooperative financial group with about 115 local retail independent banks, the central institution OP Cooperative and mortgage, insurance, corporate, asset management and card divisions.

Municipality Finance

Municipality Finance (MuniFin) is one of the leading credit institutions in Finland. It is owned by Finnish municipalities, pension fund Keva and the Republic of Finland. The company was established in 1990 and is headquartered in Helsinki.

Danske Bank

Danske Bank A/S, Finland Branch and Danske Mortgage Bank provide a broad array of financial products and services in Finland, including current and savings accounts, debit cards, investments, mobile and online banking as well as various lending products such as consumer and housing loans, target and one-time loans, and student and ASP loans.

Handelsbanken

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 bank accounts, lending products, credit cards, mobile and online banking, payment services, asset 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 over 470,000 customers through approximately 150 branches across Finland. During its fiscal year 2021, the company reported revenue of €356 million, profit before tax of €90 million, total assets of €13 billion, loans of €9.6 billion and shareholders’ equity of €1.2 billion. The Group is headquartered in Helsinki and employs around 1,400 staff.

Aktia Bank

Aktia Bank plc is a wealth manager, bank and life insurer with more than 270,000 private, corporate and institutional customers, 900 employees, 100,000 insurance policies and more than 30 branches in the Helsinki, Tampere, Turku, Oulu and Vaasa regions. The company was formed in 1991 by the merger of 8 savings banks. Aktia shares are traded on the Helsinki Nasdaq, with a market capitalization of about EUR 654 million as of March 17, 2023.

Fellow Bank

Fellow Bank Plc is a new Finnish bank created in April 2022 through the merge of peer-to-peer lending platform Fellow Finance and Evli Bank. The company provides a comprehensive range of products and services to personal customers, small & medium-sized enterprises (SMEs) and savers. It also has operations in Germany, Poland and Denmark.

S-Bank

S-Bank Ltd (or S-Pankki), part of retail cooperative organization, offers current and savings accounts, personal loans, mortgages, student loans, debit and credit cards, insurance products, asset management and mobile and online banking services.

Alandsbanken

Bank of Aland plc (Alandsbanken) is a banking group located in Mariehamn, the capital and the largest city of Åland Islands. The Bank employs 820 professionals and serves over 90,000 clients through branches in Finland and Sweden including Espoo, Turku, Helsinki, Pargas, Vaasa, Tampere, Malmo, Stockholm and Gothenburg.

POP Bank Group

POP Bank Group (POP Pankki) is a group of cooperative banks serving retail customers as well as small & rural enterprises such as agricultural and forestry companies. With about 750 employees, POP maintains 76 branches located primarily in Western Finland. There are also offices in Northern and Eastern Finland.