Short presentation of Kera Ltd | Managing Directors review | European cooperation | Summary of operations | Credit portfolio | Risk management | Profit and loss account | Balance sheet | Statement of source and application of funds
Kera Ltd is a State-owned financing institution. By granting loans and guarantees against collateral which would not be sufficient for other
finance corporations, Kera helps
ensure the growth and development of enterprises in Finland. Kera may also finance investments by foreign enterprises in Finland.
Business analysis and sofisticated risk management system allow reason-able risks to be taken. Decisions on financing are based on an assess-
ment of a company’s preconditions for profitability, which are reviewed by Kera’s business analysts.
Kera has developed its financial products to suit the different life
cycles and financial needs of SMEs. The parent company’s financing
operations are supplemented by
Start Fund of Kera Oy and Matkailunkehitys Nordia Oy, subsidiaries which function as venture capital investors. In addition, Kera provides enterprises with versatile development services related to business analysis and internationalization of SMEs. Tietolaki Oy, also one of
the subsidiaries, offers expert legal services.
Kera also implements regional policy in the role of financier by
formulating different loan conditions that favour less developed areas. Also Kera’s role in creating jobs has lately become more prominent. By granting small loans to enterprises employing one to five persons, it promotes the creation and growth
of new business.
Kera’s main targets for financing are enterprises in manufacturing
industry and tourism as well as business services. Small loans and guarantees are now also granted to all kinds of service enterprises, a new field included in Kera financing in 1996. Agriculture and construction cannot be financed by Kera.
The company’s organization is decentralized regionally. It has
fifteen customer service units, i.e.
regional offices, throughout Finland.
Kera acquires funding for its
financing from both domestic and international capital markets. It also operates as an intermediary for the European Investment Bank’s global loans and as a financial intermediary in EU’s JOP programme, which aims to promote joint ventures in Central and East Europe.