Highlights of 2017

  • The demand for financing from MuniFin grew somewhat from the previous year. The growth was mainly due to the strong growth in the government-subsidised housing production.
  • The amount of new loans withdrawn from MuniFin totalled 2,439 million euros, which is 16.6 per cent less than the year before. Competition tightened in the ­financial markets in 2017.
  • MuniFin’s green financing project portfolio grew to exceed one billion euros. Customers welcomed green finance even more positively than expected.
  • MuniFin issued its second green bond in September 2017. The bond was oversubscribed six times over in just one hour, making it the most sought-after benchmark bond in the history of MuniFin.
  • Together with other Nordic issuers, MuniFin released a position paper on the principles of green bonds impact reporting. There is a clear need to harmonise the impact analysis in the green bonds market.
  • MuniFin updated its strategy to extend to 2022. At the core of the strategy is close partnership with customers throughout the whole life cycle of the financing process, from the planning of an investment to the eventual repayment of the loan.
  • The largest information system change in the history of ­MuniFin was completed in 2017. It involved several years of work on key system integration and the automation of funding processes. With the change now complete, the effectiveness and efficiency of funding processes have improved significantly throughout MuniFin’s organisation.
  • MuniFin has put significantly more effort into business development and the development of digital services. ­During 2017, the number of staff at ­MuniFin grew from 106 to 134 employees. This historic increase in the number of staff especially took place in development, risk management and reporting.
  • The President and CEO of Municipality Finance, Pekka Averio, resigned from the company in August. Deputy to the CEO Esa Kallio was appointed as Interim President and CEO. Esa Kallio was appointed as the President and CEO of MuniFin on 28 February 2018.