Oma Säästöpankki Oyj

Oma Savings Bank Plc announced a directed share issue for its employees as part of a share savings plan called the OmaOsake plan, established on February 29, 2024. This plan allows employees to save part of their salary to invest in Oma Savings Bank shares, with shares acquired twice a year. The Board of Directors issued 17,534 new shares, deviating from shareholders' pre-emptive rights, to implement this plan, a move authorized by the Annual General Meeting on March 26, 2024. These shares, priced at EUR 11.44 each, reflect a 10% discount from the volume-weighted average price in October 2024. The shares are expected to be registered on December 12, 2024, and traded on Nasdaq Helsinki from December 13, 2024, increasing the total number of shares to 33,292,771. Oma Savings Bank is a Finnish bank with 47 branches, serving over 200,000 customers, focusing on retail banking, and offering a range of financial services. The bank emphasizes personal service and customer-oriented development, with a significant portion of its employees holding shares in the company.

Oma Savings Bank Plc announced that S&P Global Ratings has downgraded its long-term issuer credit rating from BBB+ to BBB, while maintaining its short-term issuer credit rating at A-2. The outlook for the bank has been updated to stable from negative. CEO Sarianna Liiri noted that the stable outlook reflects the bank's stable financial position and progress in its action program and risk management measures. Oma Savings Bank is a solvent and profitable Finnish bank providing a wide range of banking services through 47 branches and digital channels to over 200,000 customers. The bank emphasizes personal service, accessibility, and customer-oriented development, with a significant portion of its staff holding shares in the company.

Oma Savings Bank Plc has issued a corrected notice for its Extraordinary General Meeting, scheduled for December 10, 2024, in Helsinki. The correction pertains to the date by which holders of nominee registered shares must be temporarily registered to participate, now set for December 5, 2024. The meeting will address several agenda items, including board member remuneration, the number of board members, and the election of board members. The Shareholders' Nomination Committee has proposed increasing the board to eight members and has nominated several individuals, subject to regulatory approval. Shareholders registered by November 27, 2024, can participate, and various registration methods are provided. The meeting will be conducted in Finnish, and shareholders can submit questions in advance. Oma Savings Bank Plc emphasizes its commitment to personal service and customer-oriented development, with a significant portion of its staff also being shareholders.

Oma Savings Bank Plc has issued a notice for an Extraordinary General Meeting scheduled for December 10, 2024, in Helsinki. Shareholders are invited to attend, and registration, which opens on November 14, 2024, is required by December 2, 2024. The meeting will address several agenda items, including the remuneration and number of Board of Directors members, with a proposal to increase the board to eight members. New board members are proposed, contingent on approval from the Finnish Supervisory Authority. Shareholders can participate and vote through various means, including electronic registration and proxy representation. The meeting will be conducted in Finnish, and shareholders have the right to request information about the matters discussed. Oma Savings Bank Plc operates as a solvent and profitable Finnish bank, offering a range of banking services through its branches and digital channels to over 200,000 customers.

Oma Savings Bank Plc has decided to suspend its Internal Ratings-Based (IRB) application process with the Finnish Financial Supervisory Authority (FIN-FSA) due to identified development needs in its IRB framework. The company initially submitted the application in February 2022, but after discussions with FIN-FSA in 2024, it became clear that changes were required. CEO Sarianna Liiri stated that the bank needs to reassess the benefits of the IRB approach due to changes in its credit portfolio from mergers, acquisitions, and organic growth. The bank plans to evaluate the submission of a new application in the future. Oma Savings Bank is a profitable Finnish bank with 47 branches and digital services, focusing on retail banking and offering a wide range of financial products. The bank emphasizes personal service, local presence, and customer-oriented development, with a significant portion of its staff holding shares in the company.

Oma Savings Bank Plc's Board of Directors has reorganized, appointing Jaana Sandström as Vice Chairperson to replace Jyrki Mäkynen, who resigned. Jaakko Ossa remains Chairman. Aki Jaskari has been appointed to replace Mäkynen on the Audit and Remuneration Committees. The Board has decided to convene an Extraordinary General Meeting to elect new Board members and address issues raised by the Finnish Financial Supervisory Authority. The bank has initiated an action plan focusing on risk management and appointed a new CEO. Oma Savings Bank is a profitable Finnish bank with 47 branches and digital services, focusing on retail banking and offering a range of financial products. The bank emphasizes personal service and customer-oriented development, with a significant portion of its staff holding shares in the company.

Oma Savings Bank Plc announced a correction to a previous release regarding the proposal of the Shareholders' Nomination Committee for the election of new Board members. The corrected release includes updates to the name of Irma Gillberg-Hjelt and the job title of Juha Volotinen. The Shareholders' Nomination Committee, representing the five largest shareholders, recommends holding an Extraordinary General Meeting to elect the Board of Directors before the Annual General Meeting in spring 2025. The committee proposes expanding the Board to eight members, re-electing current members Aki Jaskari, Jaakko Ossa, and Jaana Sandström, and electing new members Juhana Brotherus, Irma Gillberg-Hjelt, Carl Pettersson, Kati Riikonen, and Juha Volotinen, subject to approval by the Finnish Financial Supervisory Authority. The nominees have consented to the election and are independent of the company and its significant shareholders. The committee also proposes maintaining the current remuneration for Board members but suggests removing the requirement for Board members to purchase OmaSp shares with a portion of their fixed annual fee. The proposals will be included in the notice of the General Meeting. OmaSp is a Finnish bank with 47 branches and digital services, focusing on retail banking and offering a variety of financial services.

Oma Savings Bank Plc's Shareholders' Nomination Committee has proposed the election of five new members to the Board of Directors and recommended convening an Extraordinary General Meeting before the Annual General Meeting in spring 2025. The committee suggests setting the number of board members at eight, with current members Aki Jaskari, Jaakko Ossa, and Jaana Sandström to be re-elected, and Juhana Brotherus, Irma Gillbert-Hjelt, Carl Pettersson, Kati Riikonen, and Juha Volotinen to join as new members. The Finnish Financial Supervisory Authority must have no objections to these elections, and all nominees have agreed to the election. The committee also proposes that board members' remuneration remains unchanged but recommends removing the requirement for members to acquire a portion of their fixed annual fee in OmaSp shares. The proposals will be included in the notice of the General Meeting. OmaSp is a solvent and profitable Finnish bank offering a wide range of retail banking services through 47 branch offices and digital channels to 200,000 customers. The bank focuses on personal service and aims to enhance customer experience and support employee career development.

Oma Savings Bank Plc announced that Jyrki Mäkynen, the Vice Chairman and a member of its Board of Directors, has resigned effective 5 November 2024. Following his departure, the Board will consist of five members, maintaining compliance with the company's Articles of Association. Jaakko Ossa, the Chairman of the Board, expressed gratitude for Mäkynen's long-term service and contributions since 2009. Oma Savings Bank is a Finnish bank offering a wide range of retail banking services to 200,000 customers through 47 branches and digital channels. The bank emphasizes personal service, customer-oriented development, and employee career growth, with many staff members holding shares in the company.

Oma Savings Bank Plc released its interim report for January to September 2024, highlighting that business development aligned with expectations, and its risk management action plan is progressing. Despite increased costs due to investments in risk management, the company's cost/income ratio remained favorable at about 37%. Key events included the acquisition of Svenska Handelsbanken AB's SME businesses in Finland, adding around 10,000 new customers, and the launch of a new credit card for SMEs. Net interest income decreased by 4% in Q3 due to lower market interest rates, though it grew by 16% since the beginning of the year. Fee and commission income remained stable, with a 7% increase for the year. The acquisition contributed to growth in credit and deposit stock, though the weak market situation impacted development. Significant resources were allocated to improving risk management, with nearly three million euros invested in Q3. Operating expenses rose by nearly 22% in Q3, partly due to a risk management action plan. Impairment losses on financial assets were high, totaling EUR 13.3 million in Q3. Comparable profit before taxes was EUR 27.6 million, with a return on equity of 16.2%. The company's financial position is strong, with plans for expansion and continued investment in customer experience. Karri Alameri was appointed the new CEO, effective by April 2025. The acquisition of Handelsbanken's SME business was completed, adding significant deposits and loans to OmaSp's portfolio. The outlook for 2024 remains positive, with expected profitability improvements from the acquired SME business.