OMA SAVING BANK PLC, PUBLIC RELEASE SEPTEMBER 29, 2021 AT 8:30 AM ET, OTHER INFORMATION RELEASED UNDER EXCHANGE RULES
The business transfer beinterpolation Oma Savings Bank Plc and the Eurajoen Savings Bank will take place – estimated impact on profit 14-16 million euros
On September 23, 2021, Oma Savings Bank (OmaSp or the company) announced the decision of the Board of Directors to acquire the activity of Eurajoen Savings Bank in accordance with the acquisition plan. The decision was conditional and its entry into force required a decision by the governing body of the Eurajoen Savings Bank. At its meeting of September 28, 2021, the governance body of Caisse d’Epargne Eurajoen decided to transfer the activity of Caisse d’Epargne Eurajoen to OmaSp in accordance with the acquisition plan recorded in June 2021, and therefore the decision of the Board of Directors of OmaSp to acquire the company has taken effect.
Eestimated impact on profit 14-16 million euros
According to the current estimate, the positive impact of the business transfer on the result will be 14 to 16 million euros for OmaSp, of which 8 to 9 million euros will be recognized in the profit before taxes of the company for the ‘fiscal year 2021. The remainder of the impact on profits is expected to be recognized over the next five years. The final profit impact of the business sale will be specified on November 30, 2021 on the basis of the balance sheet and the sale of assets and liabilities. The total cost of the business transfer is estimated to be around 3 million euros and the costs will be targeted for 2021 and early 2022. The business transfer is expected to increase OmaSp’s pre-tax profit by 3 to 5 million euros per year in the future.
Oma savings bank Plc
Pasi Sydänlammi, CEO, tel. +358 45 657 5506, [email protected]
Helena Juutilainen, CLO, tel +358 40 580 6401, [email protected]
Saranna Liiri, CFO, puh. +358 40 835 6712, [email protected]
Minna Sillanpää, CCO, tel. +358 50 66592, [email protected]
Nasdaq Helsinki Ltd
Caisse d’Epargne Oma in brief
OmaSp is a growing Finnish bank and Finland’s largest savings bank in terms of total assets. Approximately 300 professionals provide services nationwide through OmaSp’s 32 branches and digital service channels to 140,000 private and business customers. OmaSp focuses mainly on retail banking operations and offers its clients a wide range of banking services both through its own balance sheet and by acting as an intermediary for the products of its partners. Intermediated products include credit insurance, investment and loan products. OmaSp is also engaged in mortgage banking operations.
The central idea of OmaSp is to provide personalized service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to provide a superior customer experience through personalized service and easy accessibility. In addition, the development of operations and services is customer-oriented. The staff are engaged and OmaSp seeks to support their career development with versatile tasks and continuous development. A significant portion of the staff also owns shares in OmaSp.