
Finland has a well-established banking system with a variety of banks to choose from. There are five major banking groups in Finland: Nordea, Danske Bank, Handelsbanken, OP Financial Group, and S-Bank.
Nordea is the largest banking group in Finland, with a long history dating back to 1820. It has a significant presence in the country and offers a wide range of financial services.
Danske Bank is another major player in the Finnish banking market, with a strong focus on corporate banking. Handelsbanken is a Swedish bank with a significant presence in Finland, known for its customer-centric approach.
OP Financial Group is a Finnish banking group that operates through a network of local banks. S-Bank is a small banking group that focuses on serving the needs of its local customers.
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Aktia Group
Aktia Group is a significant player in Finland's banking scene.
Aktia Bank is a part of the Aktia Group, which was founded in 1828.
Aktia Group is a financial services group that offers a range of services, including banking, insurance, and asset management.
Aktia
Aktia Bank is a significant player in Finland's financial sector, with a strong presence in several regions. It has more than 30 branches in Helsinki, Tampere, Turku, Oulu, and Vaasa.
Aktia Bank serves a wide range of customers, including private individuals, corporations, and institutions, with over 270,000 clients across these groups. The company has a significant workforce of 900 employees.
Aktia Bank's history dates back to 1991, when it was formed by the merger of 8 savings banks. Today, its shares are listed on the Helsinki Nasdaq, with a market capitalization of about EUR 654 million as of March 17, 2023.
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Nordea Bank Abp is headquartered in Helsinki and boasts strong credit ratings from Moody's, Fitch, and Standard & Poor's. It's considered the safest and best bank in Finland according to Global Finance magazine.
Nordea Bank is the largest bank in Finland and part of the leading Nordea Group. It's known as one of the strongest and safest universal banks in the country.
Nordea offers a Current Account that pays interest on your money and can be opened online. This account can also be linked to your choice of cards.
The Current Account is a top option for personal customers at Nordea.
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Other Banks
Sampo Bank is a notable example of a bank that operates in Finland, offering a range of services including personal and corporate banking.
Sampo Bank has a significant presence in the country, with a large network of branches and a strong online banking platform.
The bank's commitment to innovation has enabled it to stay ahead of the competition, making it a popular choice for Finns.
Danske
Danske Bank offers a wide range of financial products and services in Finland, including current and savings accounts, debit cards, investments, mobile and online banking.
Danske Bank provides various lending products such as consumer and housing loans, target and one-time loans, and student and ASP loans.
You can also get debit cards with Danske Bank, making it easy to manage your finances on the go.
Danske Bank's mobile and online banking services allow you to access your accounts and manage your finances from anywhere.
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Eurocard Oy
Eurocard Oy was a Finnish bank that was established in 1962.

It was a significant player in the Finnish banking industry, known for its innovative approach to banking services.
Eurocard Oy was a pioneer in the development of credit cards in Finland, introducing the first Finnish credit card in 1966.
The company's credit card was a huge success, and it quickly became a popular payment method in the country.
Eurocard Oy was acquired by the Nordea Group in 2000, marking the end of its independent existence as a bank.
The acquisition was a significant event in the history of Finnish banking, and it had a lasting impact on the industry.
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Bank Groups
The Finnish banking system is a unique blend of independent and cooperative banks. The Local Cooperative Bank Group is a notable example, consisting of 42 independent co-operative banks operating in their own regions.
These member banks were established to maintain their independence, as the other co-operative bank group in Finland was seen as too centrally administered. This allowed them to continue operating as they saw fit.
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Here's a list of some of the member banks within the Local Cooperative Bank Group:
- Alahärmän Osuuspankki
- Hannulan Osuuspankki
- Hellanmaan Osuuspankki
- Honkajoen Osuuspankki
- Isojoen Osuuspankki
- Joroisten Osuuspankki
- Jämijärven Osuuspankki
- Kannonkosken Osuuspankki
- Kauhavan Osuuspankki
- Keiteleen Osuuspankki
- Keuruun Osuuspankki
- Kiuruveden Osuuspankki
- Konneveden Osuuspankki
- Kortesjärven Osuuspankki
- Kosken Osuuspankki
- Kovelahden Osuuspankki
- Kurikan Osuuspankki
- Kyrön Seudun Osuuspankki
- Kyrönmaan Osuuspankki
- Kyyjärven Osuuspankki
- Laihian Osuuspankki
- Lammin Osuuspankki
- Lanneveden Osuuspankki
- Lapinlahden Osuuspankki
- Lappajärven Osuuspankki
- Lapuan Osuuspankki
- Lavian Osuuspankki
- Liedon Osuuspankki
- Multian Osuuspankki
- Nivalan Järvikylän Osuuspankki
- Petäjäveden Osuuspankki
- Piikkiön Osuuspankki
- Pyhäselän Paikallisosuuspankki
- Reisjärven Osuuspankki
- Sievin Osuuspankki
- Siilinjärven Osuuspankki
- Suupohjan Osuuspankki
- Tiistenjoen Osuuspankki
- Tuusniemen Osuuspankki
- Vaskion Osuuspankki
- Vieremän Osuuspankki
- Ylihärmän Osuuspankki
Op-Pohjola Group
Op-Pohjola Group is a significant player in the banking industry.
Aktia Bank plc is a wealth manager, bank and life insurer with more than 270,000 private, corporate and institutional customers.
The company was formed in 1991 by the merger of 8 savings banks.
Aktia shares are traded on the Helsinki Nasdaq, with a market capitalization of about EUR 654 million as of March 17, 2023.
OP Financial Group
OP Financial Group is one of the biggest financial services companies in Finland. It has a commercial bank serving both private and business customers.
OP Yrityspankki Oyj is the name of the company. They offer a range of services including accounts, financing, investment, and insurance services.
A popular choice at OP is its Current Account, ideal for daily banking. It offers interest on your money, a debit card, and a wide range of digital tools and services.
Defunct Banks
Finland has had its share of defunct banks over the years.
The Ålandsbanken, for instance, was founded in 1887 and was the first bank in Finland.
One of the most notable defunct banks in Finland is the Merita Bank, which was founded in 1987 and was later acquired by Nordea in 2007.
The Merita Bank's acquisition by Nordea marked the end of an era for the bank.
The Finnish government has taken steps to ensure that the banking system remains stable and secure, including the establishment of the Financial Supervisory Authority in 1989.
The Financial Supervisory Authority oversees the activities of all banks operating in Finland, including those that have ceased operations.
The closure of defunct banks can have significant consequences for customers, including the loss of deposits and financial difficulties.
The Bank of Åland, a subsidiary of the Ålandsbanken, was established in 1995 and provides banking services to the Åland Islands.
Government and Commercial Banks
Government banks play a crucial role in Finland's financial system. The Bank of Finland is the central bank of Finland and a member of the Eurosystem and the European System of Central Banks.
For another approach, see: List of Central Banks
The Nordic Investment Bank is an international financial institution owned by eight NIB member countries, including Finland, Denmark, and Norway. It provides long-term loans and guarantees to private and public projects to strengthen competitiveness and enhance the environment.
Here are some key facts about government and commercial banks in Finland:
Government
Government banks play a unique role in the financial landscape. The Bank of Finland, for instance, is the central bank of Finland and a member of the Eurosystem and the European System of Central Banks.
The Nordic Investment Bank is another example of a government bank, owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. It doesn't engage in retail banking, focusing instead on long-term loans and guarantees to private and public projects that promote competitiveness and environmental enhancement.
These government banks often have distinct goals and operations compared to commercial banks. The Bank of Finland, for example, is focused on maintaining price stability and ensuring the smooth functioning of the financial system.
Here are some key facts about government banks:
- Bank of Finland: central bank of Finland, Eurosystem and European System of Central Banks member
- Nordic Investment Bank: owned by eight member countries, focuses on long-term loans and guarantees
Commercial

Commercial banks in Finland are an essential part of the country's financial system. They offer a range of services to individuals and businesses.
Aktia, one of the commercial banks, has a SWIFT code of HELSFIHH. Ålandsbanken Abp, another commercial bank, has a SWIFT code of AABAFI22.
Some commercial banks in Finland have a unique feature - they don't have a listed capital. For example, Aktia Pankki Oyj and Ålandsbanken Abp have no listed capital.
Here's a list of some commercial banks in Finland, along with their SWIFT codes:
These commercial banks have websites that provide more information about their services and operations. For example, Aktia's website is aktia.fi, while Ålandsbanken's website is alandsbanken.fi.
Handels and Savings Banks
The Savings Banks Group, founded in 1823, is the oldest banking group in Finland, serving over 470,000 customers through approximately 150 branches.
It has a significant presence in the country, with total assets of €13 billion and shareholders' equity of €1.2 billion.
The group's Current Account is a popular choice for everyday banking, offering mobile/online banking and a connected payment card.
Local Cooperative Group
In Germany, you'll find a unique model of cooperative banking, where local cooperative groups, or Volksbanken, play a significant role. These groups are made up of local savings banks and cooperative banks that have merged to provide a broader range of services.
Each Volksbank is owned by its members, who are typically local businesses and individuals. This ownership structure allows the bank to focus on serving the needs of the community, rather than generating profits for external shareholders.
By pooling their resources, Volksbanken can offer a wider range of financial services, including loans, deposits, and investment products. This allows them to better serve the needs of their members and the local economy.
In many cases, Volksbanken have a strong commitment to social responsibility and community development, investing in local projects and initiatives that benefit the community.
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Handelsbanken
Handelsbanken is one of the largest banks in Finland by market share, with a network of branches across the country. It's a Swedish-owned bank that offers a wide selection of financial products for both personal and corporate customers.
You can manage your Current Account with no withdrawal or deposit restrictions via online banking, and connect a debit card to the account. This makes it easy to keep track of your finances on the go.
Handelsbanken has been present in Finland since 1985 and has over 40 branches across the country, making it one of the top 5 banks in Finland by market share. It offers a full array of financial products and services to private and corporate customers.
Handelsbanken also specializes in dedicated solutions for SMEs, housing associations, trade and service providers, and international companies, making it a great option for businesses with unique needs.
Savings Group
The Savings Banks Group, founded in 1823, is the oldest banking group in Finland, consisting of 23 independent deposit banks with over 470,000 customers.
It serves customers through approximately 150 branches across the country, with a strong presence in the Helsinki region. The company reported revenue of €356 million in its fiscal year 2021.
The Savings Bank Group has a network of local savings banks across Finland, offering a range of personal accounts, including children’s and savings accounts. Its Current Account is a popular choice for everyday banking, with features like mobile/online banking and a connected payment card.
The group also serves business customers, providing products such as cards, financing, credit solutions, and accounts. Its business services cater to the needs of corporate and institutional customers.
Aktia Bank, a part of the Savings Group, has over 270,000 customers and more than 30 branches across Finland.
Danish
Danske Bank is a universal bank based in Denmark with a strong presence in Finland. It's one of the country's biggest banks, serving both personal and business customers.
Danske Bank offers a current account called the Danske Account, which is part of a banking package that includes a bundle of services for a set monthly fee. This makes it a great option for everyday banking.
For businesses, Danske Bank provides a range of services including current accounts, payments and invoicing, cards, international trade, financing, and strategic planning solutions.
Frequently Asked Questions
How many banks are there in Finland?
As of 2023, there are approximately 185 banks operating in Finland, a significant decrease from 357 in 2008.
What are the best banks in Finland?
Finland's top banks include Nordea Bank, OP Financial Group, and Danske Bank, known for their stability and wide range of services. These banks offer a strong presence in the Finnish market, with a focus on customer satisfaction and innovative financial solutions.
Can a foreigner open a bank account in Finland?
Foreigners can open a bank account in Finland, but they typically need a passport or an official identity card to do so. Check with the bank to see what proof of identity they accept.
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