Outlook

(Published on 12 February 2025)

The outlook has been prepared based on the following assumptions:

• Due to the lower interest rate level, the net interest income is expected to be lower than in 2024.
• The net commission income is expected to be approximately on the same level as in 2024. However, market uncertainty may have a negative impact on the net commission income.
• The life insurance business is expected to develop steadily. However, the result may be affected by changes in market values. 
• Operating expenses are expected to increase slightly, given the continued investments in IT and the development of the general cost level.
• Credit losses are expected to remain at a moderate level. However, the uncertainty in the Finnish real estate sector may affect the development of impairments and expected credit losses.