The following list of banks in Finland is to be understood within the framework of the European single market and European banking union, which means that Finland's banking system is more open to cross-border banking operations than peers outside of the EU.
European banking supervision distinguishes between significant institutions (SIs) and less significant institutions (LSIs), with SI/LSI designations updated regularly by the European Central Bank (ECB). Significant institutions are directly supervised by the ECB using joint supervisory teams that involve the national competent authorities (NCAs) of individual participating countries. Less significant institutions are supervised by the relevant NCA on a day-to-day basis, under the supervisory oversight of the ECB. [1] In Finland's case, the NCA is the Finnish Financial Supervisory Authority. [2]
As of 1 September 2025, the ECB had four Finnish banking groups in its list of significant institutions: [3]
A study published in 2024 assessed that of these, OP had the largest volume of assets in Finland (€160 billion at end-2023), followed by Nordea (€137 billion), then Danske Bank (€50.6 billion) and Kuntarahoitus (€49.7 billion). [4] Among SIs based in other euro area countries, Rabobank also operates in Finland via a subsidiary. [3]
As of 1 September 2025, the ECB's list of supervised institutions included 68 Finnish LSIs, three of which were designated by the ECB as "high-impact" on the basis of several criteria including size:
The other 65 Finnish SIs divided into four groups, as follows. [3]
In addition to the above-mentioned Säästöpankkiliitto, the ECB's list of 1 September 2025 included the Säästöpankkien Keskuspankki , the SP Mortgage Bank (SP-Kiinnitysluottopankki Oyj), and the following 14 local entities of the Savings Banks Group: [5]
The same ECB list included 21 member LSIs of the POP Banking Group , namely three central entities (Bonum Pankki , POP Asuntoluottopankki Oyj, POP Pankkikeskus osk) and 18 local banks:
22 Finnish LSIs in the list were branches, mostly of Swedish entities:
The Bank of Finland, Finnfund and Finnvera are public credit institutions that do not hold a banking license under EU law. [6] Nor does the Nordic Investment Bank, a multilateral financial institution based in Helsinki.
Several former Finnish banks, defined as having been headquartered in the present-day territory of Finland, are documented on Wikipedia. They are listed below in chronological order of establishment. Finland experienced two waves of intense banking sector restructuring, first in the wake of independence and civil war in the late 1910s and 1920s with an aftershock during the European banking crisis of 1931, and second during the 1990s Finnish banking crisis.