The Bank of Finland’s audited profit for the financial year 2019 totals EUR 320 million. According to the Act on the Bank of Finland, half of the Bank’s profit shall be transferred to the reserve fund and the remaining profit made available for use by the State. However, the Act allows for an exceptional profit distribution if justified by the Bank’s financial condition or the size of the reserve fund. 

The Bank of Finland’s income consists primarily of interest income on banknotes and the Eurosystem’s monetary policy items, investment income on foreign reserves and other financial assets of the Bank as well as the Bank’s share in the ECB’s profit that the ECB allocates to the euro area central banks. Net interest income amounted to EUR 755 million in 2019 (2018: EUR 697 million). Of this, EUR 589 million was earned on monetary policy items, the most significant of which was the negative interest rate charged on commercial bank deposits. However, the major part of the increase in net interest income was due to higher income on foreign reserve assets. 

A general provision totalling EUR 50 million was made against risks arising from the conduct of central banking activities. The Bank of Finland’s income covers its operating expenses and provisions. Operating expenses net of banknote production services and an additional pension fund contribution amounted to EUR 99 million in 2019 (2018: EUR 97 million).