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Co-operative Banking in Finland

In: Co-operative Banking Networks in Europe

Author

Listed:
  • Federica Poli

    (Università Cattolica del Sacro Cuore)

Abstract

The creation and spread of co-operative banking in Finland dates back to the early twentieth century, inspired by the ideas of German ideologist Raiffeisen. Following deregulation and restructuring, by 2016, 57% of Finland’s total banking assets were owned by foreign banks although domestic banks are regaining their share. The OP Financial Group, Finland’s largest co-operative network, has seen a dramatic increase in membership since 2004 and plays a key role in the country’s banking system. This chapter examines its performance in comparison with shareholder-oriented banking. From this comparison, it emerges that co-operative banking shows statistically significant divergences that are persistent over time, despite the growing hybridization of the sector and the potential pressures exerted by the prudential regulatory framework for a higher degree of convergence among business models.

Suggested Citation

  • Federica Poli, 2019. "Co-operative Banking in Finland," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Co-operative Banking Networks in Europe, chapter 0, pages 147-192, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-3-030-21699-3_4
    DOI: 10.1007/978-3-030-21699-3_4
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