In 2024, we maintained our solid position as the primary financing partner to our customers. The majority of our new long-term customer financing was sustainable finance: green or social finance. The demand for MuniFin’s financing was especially high in the affordable social housing sector. In the future, however, the sector will be facing reductions on interest subsidy loan authorisations.
Our financing to wellbeing services counties continued to be restricted by the Municipal Guarantee Board’s limit for our long-term loans to wellbeing services counties, which was EUR 400 million in 2024. Wellbeing services counties’ financing needs and government-authorised borrowing powers were considerably higher than this limit.
Our funding strategy relies on wide diversification into multiple currencies, maturities, geographical areas and investor groups. This strategy has proved highly successful amidst the turmoil in monetary and security policy that continued in 2024: we retained strong access to international capital markets throughout the year. We issued five benchmark bonds, which were met with excellent demand.
We issued a record number of sustainable bonds in 2024. For the first time ever, we issued a total of three green bonds within a single year. The USD 1 billion bond issued in October marked our tenth green bond and garnered the largest order book in our history with USD 5.5 billion.
2024 key figures
35.2
EUR bn
Long-term customer financing per Dec 31, 2024
8.9
EUR bn
New long-term funding per Dec 31, 2024
9.3
EUR bn
Outstanding amount of sustainable finance per Dec 31, 2024
6.62
Customers' willingness to recommend 2024 (scale 1–7)
Esa Kallio: CEO's review
Finnish society is a success story
Business operations
Further growth in sustainable finance
Social finance also continued to grow. At the end of 2024, there were 152 social projects with outstanding financing, and our social finance totalled EUR 2.5 billion.
New long-term funding by region in 2024
Our funding strategy relies on wide diversification into multiple currencies, maturities, geographical areas and investor groups. This strategy has proved highly successful amidst the turmoil in monetary and security policy that continued in 2024.
Motivated by the social significance of our work
The MuniFin Group employed 178 people at the end of 2024. During the year, we focused on strengthening our first-line management and orientation process and providing more support for hybrid work. Hybrid working has become a permanent fixture at MuniFin, and our employees value the model as an effective way to promote a healthy work-life balance.
Skills development is one of the cornerstones of our strategy. In 2024, we concentrated on identifying competencies and opportunities for professional growth. We also redesigned our performance appraisal models to better address professional development needs. This change was well-received by our employees.
We measure employee satisfaction through an anonymous survey conducted annually by an independent research company. In 2024, we were ranked among Finland’s most inspiring workplaces for the third consecutive year. Our results not only exceed the average for Finnish expert organisations, but they have also shown gradual improvement every year.
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