Highlights of 2018

• New lending by MuniFin amounted to EUR 2,953 million in 2018. The lending portfolio grew by 5.3% compared to the end of 2017. Demand for financing exceeded expectations, particularly in the municipal sector, due to reasons such as the lower-than-anticipated recognition of tax revenue.

• Demand for green finance remained stable. By the end of 2018, the total amount of withdrawn green finance stood at EUR 1,143 million. In 2018, EUR 340 million worth of green finance was withdrawn. The popularity of the financial product increased in state-subsidised housing production, in which 12 green finance projects were started during the review year.

• MuniFin started building a large-scale centralised data warehouse in 2018. This data warehouse complies with official requirements and will, for instance, boost operational efficiency and improve both risk management and data integrity and availability.

• MuniFin continued to make investments in business and digital solutions development in 2018. The number of MuniFin employees grew from 134 to 151 during the review year. More employees were hired particularly in the areas of risk management, reporting and development.

New loans withdrawn from MuniFin in 2018

New loans withdrawn from MuniFin in 2018

New funding acquisition 2018

New funding acquisition 2018

Balance sheet total 31 Dec 2018

Balance sheet total 31 Dec 2018

Green financing projects in 2018

Green financing projects in 2018

January

MuniFin issued a 15-year euro-denominated benchmark bond, the longest in its history.

February

Esa Kallio, M.Sc. (Econ.), who has worked at MuniFin since 2005, took the helm as CEO on 28 February 2018.

MuniFin approved a company-level Responsibility Policy that applies to all of the company’s employees and also serves as a key external policy for MuniFin stakeholders.

May

MuniFin became the first issuer of sustainable bonds in the Finnish market when Nasdaq Helsinki opened its new Sustainable Bond Market on 31 May 2018. MuniFin dual listed its two green bonds in Helsinki.

June

MuniFin launched an online version of its Huomisen tekijät customer magazine. It is available at huomisentekijat.kuntarahoitus.fi.

September

Apollo, a digital financial management service that is already used by 160 customers, was expanded with a service for managing housing corporation loan portfolios. In addition, a tool for financial forecasting went into the pilot phase. Its large-scale launch is scheduled for early 2019.

October

MuniFin’s funding earned plaudits for its work in the Japanese capital markets when the UK-based market data provider mtn-i selected the company as the Uridashi Issuer of the Year. Additionally, MuniFin received the Deal of the Year Award in the category of equity index-linked deals.

November

MuniFin began updating its strategy in 2017 and this work continued with sharpening of values and the customer strategy. MuniFin aims to be the best possible financial expert for its customers and to harness the company’s expertise to find optimal solutions for customers.