Report title: Banking System Outlook - Finland: Outlook Changed to Negative
from Moody's Global Credit Research
6 page (3554 word) report published Apr 14, 2009

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...for the Finnish banking system is negative, reflecting Moody's opinion that a severe contraction of the economy will contribute to a cyclical weakening in banks' credit fundamentals. This outlook expresses Moody's expectations for the fundamental credit conditions in the Finnish banking system over the next 12 to 18 months. In Moody's view, the weakening economic environment in Finland is expected to continue to have an adverse effect on the asset quality and profitability of Finnish banks. The banking system's problem loans are expected to increase significantly, although from a very low level (0.5% in January 2009). In addition to increased credit risk costs, high funding costs will continue to weigh on banks' profitability. Fee and commission income is also expected to remain under pressure due to weakened asset management and corporate finance activities. Moody's notes that the Finnish banking system is characterised by the strong presence of foreign, in particular Scandinavian, banking...

Report Type: Special Comment
Issuer: Finland
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