Finnvera Group, Finland’s state-owned export credit agency, reported a net profit of €348 million for the first half of 2026, a 132% increase from €150 million in the same period of 2025.
The surge was primarily attributed to €195 million in higher reversals of loss provisions compared with the prior-year period, alongside a €22 million rise in net fee and commission income. These gains offset a €2 million decline in net interest income and a €30 million increase in realized credit losses.
Export financing activity expanded significantly, with export credit guarantees rising 67% to €6.2 billion and export credits up 63% to €5.1 billion, both compared with the first half of 2025. Domestic loans and guarantees, however, fell 17% to €0.5 billion.
The agency’s balance sheet total grew 5% to €16.3 billion at the end of June, while contingent liabilities increased 16% to €19.5 billion. Non-restricted equity and State Guarantee Fund assets rose 14% to €2.8 billion, and expected credit losses on the balance sheet decreased 25% to €0.7 billion.
Finnvera’s exposure to the cruise shipping sector climbed to 56% of its export credit and special guarantee portfolio, up from 54% at the end of 2025, with total exposure reaching €16.4 billion, a 25% increase.
Looking ahead, the company announced a €1 billion investment program to accelerate domestic projects and expects full-year demand for domestic financing to match or exceed 2025 levels.
