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). The largest banking group by market share is OP and the largest bank by assets is Nordea. Finnish Financial Supervisory Authority is responsible for supervision of financial and insurance markets. Bank of Finland (or Suomen Pankki), founded on March 1, 1812 by Alexander I of Russia, is the central bank of the country.

Nordea

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 (including approx. 3 million in Finland) through the largest network of branches in the Nordic and Baltic region. The Bank is listed on the Helsinki, Copenhagen and Stockholm stock exchanges. As of March 31, 2019, Nordea’s total assets amounted to over US$660 billion. The Bank boasts the strong credit ratings Aa3, AA- and AA- from Moody's, Fitch and Standard & Poor's, respectively. As of September 30, 2019, it had a market capitalization of US$29 billion.

OP Financial Group

OP Financial Group, established in 1902, is the second largest financial services group in Finland based on assets and the largest by market share (39% in deposits, 36% in loans and 33% in non-life insurance). It employs over 12,000 people and serves approximately 1.9 million owner customers. 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 will become Pohjola Insurance. As of December 31, 2018, the Group’s assets totalled US$161 billion.

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 (2018), 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’s total assets reached US$40.8 billion in 2018.

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.

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 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 Bank Group

Savings Bank Group (Säästöpankkiliitto), founded in 1823, consists of 23 independent deposit banks and serves over 500,000 customers through approximately 150 branches across Finland. The company reported revenue of €278.5 million, profit before taxes of €36.4 million, total assets of €11.7 billon, loans of €8.6 billion and total equity of €1.03 billion during its fiscal year 2018. The Group is headquartered in Helsinki and employs around 1,300 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.

S-Bank

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, 2.2 million international payment cards, €5.8 billion in deposits, €4.2 billion in loans and €12 million in operating profit for FY 2018.

Alandsbanken

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 over 80 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 balance sheet total of €4.4 billion.

See also:

Branches of Foreign Banks In Finland

BNP Paribas, branch office in Helsinki
BNP Paribas, one of the leading foreign banks in Finland, provides corporate and investment banking services.

Carnegie Investment Bank AB, Finland branch
Address: Etelaesplanadi 22, 00130 Helsinki

Citibank International Ltd, Finland branch
Address: Aleksanterinkatu 48, 00100 Helsinki

Crédit Agricole CIB, Helsinki Branch
Address: Unioninkatu 32 B, FI-00100 Helsinki
Phone: 358 9 6969 91

Danske Bank A/S, Helsinki Branch
Address: Hiililaiturinkuja 2, 00075
Phone: 358 10 5460 000

Deutsche Bank AG, Helsinki Branch

DNB Bank ASA, Finland branch
Urho Kekkosen katu 7B, 5 krs, FI-00100 Helsinki
Phone number: +358 105 482 100

Forex Bank Aktiebolag, branch in Finland
Address: Itakatu 1, 00930 Helsinki

Holvi Payment Services Ltd - A subsidiary of Spanish BBVA.

HSBC Global Liquidity Finland

Nordnet Bank AB, branch in Finland

Royal Bank of Scotland, Finnish Branch ceased its activity in 2015.

Santander Consumer Finance Finland
Address: Risto Rytin tie 33, 00570 Helsinki

Societe Generale
Amundi Nordic Countries Ltd
Address: Eteläesplanada 22A, 00130, Helsinki
Phone: 00 358 961 20810

ALD Automotive - The leasing and fleet management business of Societe Generale. It is the leading leasing company in Finland.
Address: PL 194 Ohtolankatu 4, 01510 Vantaa

UBS Wealth Management Finland

Skandinaviska Enskilda Banken (SEB), Helsinki Branch
Address: Etelaesplanadi 18, 00130 Helsinki
Phone: +358 961 628 000

Svenska Handelsbanken AB, Finnish Branch
Address: Itamerenkatu 11-13, 00180 Helsinki

Swedbank AB, Finnish Branch
Address: Mannerheimintie 14B, Helsinki
Phone: +358 20 7469 100
Monday - Friday, 9:00 am - 5:00 pm