Oma Säästöpankki Oyj

Oma Savings Bank Plc has announced the issuance of an unsecured senior-term bond worth EUR 30 million, maturing on September 30, 2027, with a floating interest rate. The bond, identified by ISIN code FI4000581434, is part of OmaSp's EUR 3 billion bond program. The Finnish Financial Supervisory Authority approved the base prospectus and its supplements, which are available on the company's website. OmaSp plans to list the bond on the Nasdaq Helsinki stock exchange. Danske Bank A/S and Landesbank Baden-Württemberg are the Joint Lead Managers, with Borenius Attorneys Ltd serving as legal advisor. OmaSp is a profitable Finnish bank with approximately 500 employees serving over 200,000 customers through 45 branches and digital channels. The bank focuses on retail banking and offers a range of banking services, including credit, investment, and loan insurance products, as well as mortgage banking. OmaSp emphasizes personal service and customer-oriented development, with a significant portion of its staff holding shares in the company.

Oma Savings Bank Plc has announced the issuance of an unsecured senior-term bond worth EUR 50 million, maturing on September 18, 2026, with an annual interest rate of 4.28%. The bond, identified by ISIN code FI4000581293, is part of the bank's EUR 3 billion bond program. The Finnish Financial Supervisory Authority has approved the base prospectus and its supplements. The bond will be listed on the Nasdaq Helsinki stock exchange, with Danske Bank A/S as the sole lead manager and Borenius Attorneys Ltd as the legal advisor. Oma Savings Bank, a profitable Finnish bank, serves over 200,000 customers through 45 branches and digital channels, focusing on retail banking, mortgage banking, and intermediary services for partners' products. The bank emphasizes personal service, customer-oriented operations, and career development for its employees, many of whom are also shareholders. Additional information is available from Sarianna Liiri, CEO.

Oma Savings Bank Plc (OmaSp) has completed the acquisition of Svenska Handelsbanken AB’s SME enterprise operations in Finland as planned on 1st September 2024. This acquisition includes personal banking services for entrepreneurs, excluding asset management and investment services. The acquisition transferred approximately EUR 440 million in deposits, EUR 500 million in lending volume, around 10,000 customers, and 30 employees to OmaSp. CEO Sarianna Liiri expressed satisfaction with the transaction, noting it will strengthen OmaSp's market position, cost efficiency, and profitability, adding EUR 7-10 million to the annual profit before taxes. The transaction, paid in cash, impacts OmaSp’s capital adequacy by approximately -1.7 percentage points but keeps it stable. The purchase price included the net value of transferred balance sheet items plus EUR 12 million. The transaction does not affect the number of shares outstanding in the company. The acquisition is part of a broader agreement signed on 31 May 2023, where Handelsbanken sold its SME enterprise operations to OmaSp, its retail banking, asset management, and investment services to S-Bank, and its life insurance business to Fennia. OmaSp is a Finnish bank with around 500 professionals providing services to over 200,000 customers through 45 branches and digital channels, focusing on retail banking and offering a range of banking services.

Oma Savings Bank Plc has announced the issuance of an unsecured senior-term bond worth EUR 50 million, maturing on 27 February 2026. This zero-coupon bond, identified by the ISIN code FI4000577960, is part of OmaSp's EUR 3 billion bond program. The Finnish Financial Supervisory Authority has approved the base prospectus and its supplements, with the documents available on OmaSp's website. The bond will be listed for public trading on the Nasdaq Helsinki Ltd stock exchange. SFI Markets is the Dealer and Placing agent, Danske Bank A/S is the Sole Lead manager, and Borenius Attorneys Ltd serves as the legal advisor. Oma Savings Bank is a Finnish bank offering a wide range of banking services through its 45 branches and digital channels to over 200,000 customers. The bank focuses on retail banking and aims to provide a high level of customer service and accessibility. The personnel is highly committed, with many owning shares in the bank. Additional information can be obtained from CEO Sarianna Liiri.

Oma Savings Bank Plc (OmaSp) released its Half-Year Financial Report for January-June 2024, noting an exceptional second quarter. CEO Sarianna Liiri highlighted significant efforts to address non-compliance issues, including extensive reviews of the credit portfolio with external experts. Despite these challenges, the bank's core business remained strong, with a 7% increase in net interest income and controlled costs. The bank's capital adequacy and financial position are robust, with a total capital ratio of 16.6%. OmaSp is set to complete a transaction with Handelsbanken Finland, expanding its customer base and operations. The bank aims to continue its profitable growth and enhance risk management and quality processes in the second half of 2024. The estimated comparable profit before taxes for 2024 is EUR 80-100 million.

Oma Savings Bank Plc (OmaSp) has issued a negative profit warning, publishing preliminary information on its Q2/2024 results and updating its guidance. An external credit stock study confirmed issues limited to previously identified non-compliance with guidelines. The company will recognize a significant additional allowance for Q2/2024. Preliminary data shows a 7% increase in net interest income and a 1% increase in fee and commission income and expenses compared to the previous period. Total operating expenses rose by 8%. Impairment losses on financial assets are approximately EUR 39.4 million for Q2 and EUR 62.5 million for the first half of the year. Comparable profit before taxes, excluding additional allowances, is approximately EUR 80.6 million for the first half and EUR 5.5 million for Q2. The new earnings guidance estimates a comparable profit before taxes of EUR 80–100 million for 2024, down from the previous estimate of EUR 120–140 million. The company's profitability is expected to improve in the latter half of 2024 due to the acquisition of SME customer business from Handelsbanken. OmaSp will publish its full Q2 results on 29 July 2024.

Oma Savings Bank Plc (OmaSp) has completed a review of its loan portfolio, revealing that issues are confined to previously identified non-compliance with lending guidelines. The bank will recognize a significant additional allowance for the second quarter due to this non-compliance. External experts confirmed that the quality of the rest of the credit portfolio, valued at approximately 6 billion euros, aligns with prior reports. Non-compliance affects about 4% of the portfolio, leading to a credit loss provision of EUR 19.5 million in the first quarter and an additional EUR 35.7 million in the second quarter. CEO Sarianna Liiri expressed satisfaction with the thorough review and confirmed the bank's strong financial position. Detailed results will be released on 29 July 2024.

Oma Savings Bank Plc (OmaSp) has announced updates regarding its Shareholders’ Nomination Committee and the establishment of an Audit Committee. Representatives from the five largest shareholders, as of 1 June 2024, have been appointed to the Nomination Committee. This committee is responsible for proposing members and remuneration for the Board of Directors for the Annual General Meeting and, if needed, for an Extraordinary General Meeting. The Board of Directors, on 23 May 2024, decided to establish an Audit Committee to enhance its supervisory role, appointing Jyrki Mäkynen, Jaakko Ossa, and Jaana Sandström as members. The Audit Committee will assist in matters related to financial reporting, auditing, and sustainability reporting. OmaSp is noted as the fastest-growing and most profitable bank in the Nordic countries, providing a wide range of banking services through its branches and digital channels to over 200,000 customers. The bank focuses on retail banking and aims to offer a premium customer experience through personalized service. Many of its employees are also shareholders.

Oma Savings Bank Plc (OmaSp) announced that CEO Pasi Sydänlammi is leaving his position immediately. Sydänlammi, who has been CEO since 2009, will be temporarily replaced by Deputy CEO Sarianna Liiri. The Board of Directors will start searching for a new CEO. Liiri has been with OmaSp since 2014 in various roles, including CFO. Markus Souru has been appointed as the new Deputy CEO, pending approval from the Financial Supervisory Authority. The Board of Directors thanked Sydänlammi for his service and mentioned an ongoing internal investigation into non-compliance with lending guidelines, which led to a EUR 19.5 million allowance for the first quarter. The investigation found that a former director violated lending guidelines, and the matter has been reported to the police. The Board is conducting a comprehensive review of operations and is cooperating with authorities to address the issues. OmaSp will hold a webcast briefing on the situation. The bank is noted as the fastest-growing and most profitable in Finland, with around 500 professionals serving over 200,000 customers through 45 branches and digital channels. OmaSp focuses on retail banking and offers a range of services, including mortgage banking, with an emphasis on personal service and customer experience. Many of its employees own shares in the company.

Oma Savings Bank Plc (OmaSp) has announced the issuance of a EUR 250 million covered bond in a tap issue. The bond will be issued under the same terms as the covered bond issued by OmaSp on 8 February 2023 and maturing on 15 June 2028. The two loans will subsequently form a single covered bond. The issuance is part of OmaSp's EUR 3 billion bond program and the Finnish Financial Supervisory Authority has approved the base prospectus. The bank will apply for admission of the covered bond to public trading on the Nasdaq Helsinki Ltd stock exchange. Danske Bank A/S is the Joint Lead Manager of the issue, with Borenius Attorneys Ltd acting as legal advisor.