Industry on the move

Financial companies provide banking, insurance and investment services to their customers. Insurers also deal in statutory insurance lines, which include employee pension and workers compensation, and account for much of Finnish social security.

The Finnish financial market has become more international during the past few years. Like many international markets, the Finnish market has also become more integrated as the operations of banks and insurers have moved closer to each other.

The core of the financial industry is formed by financial conglomerates, or groups, which provide the full range of services in investment, financing and insurance. Financial groups are often also formed around one deposit bank as listed companies. In addition to receiving deposits and granting credits, financial groups also offer services such as capital funding, investment services and pure risk policies.

The financial industry has indisputable significance to the Finnish society and economy. Effective banking, insurance and investment services oil the wheels of everyday life for all companies and consumers, and contribute to Finland's competitiveness.