Profitable Finnish bank with a demonstrated ability to grow and operate efficiently

OmaSp has strongly increased its total revenues and balance sheet by offering customers a highly accessible and high-quality service in line with its strategy. As evidence of this, OmaSp's balance sheet total increased yearly by an average of 22.6% per year between 2018 and 2020, while the peer group of Finnish competitor banks (1) grew by an average of 9.3% per year over the same period (2). OmaSp's growth has been mainly organic, but successful acquisitions have also had a positive effect on growth. A key component of profitability is an efficient operating model and organization that have enabled a low cost-benefit ratio. In 2020, OmaSp's cost/income ratio averaged 54 %, compared to 72% in the peer  group over the same period. (2) Operational efficiency, a focus on solvent customer segments that value good service and credit losses that have remained low through successful risk management have also contributed to good profitability. OmaSp's return on total capital (ROA) averaged 1.4% in 2021. OmaSp's return on equity (ROE) averaged 17.6% in 2021.

1) The control group includes Aktia, Oma Savings Bank, POP-Pankki, S-Pankki, Säästöpankkiliitto and the Bank of Åland 2) Source: OmaSp (OmaSp figures), Financial Supervision: The figures for 2021 are from the companies' own materials, the Financial Supervisory Authority and OmaSp.

OmaSp operates in Finland, which is a stable and favourable operating environment

Oma Säästöpankki Oyj operates in Finland in a stable and favorable operating environment. Finland's GDP growth was strong in 2021 and strong growth will continue in 2022. After that, growth is forecast to level off close to the long-term growth rate. The Bank of Finland's estimate for GDP growth in 2021 is 3.5% and in 2022 another 2.6%. (1

According to Statistics Finland, there were 62,000 more employed and 24,000 fewer unemployed in November than a year ago. In November 2021, the employment rate was 72.8% (aged 15-64) and the average unemployment rate was 6.9%. (2

The consumer confidence indicator plummeted in December. All four components deteriorated. The components of the confidence indicator are: an estimate of one's own finances now, expectations of one's own and Finland's economy in 12 months, and intentions to spend money on durable goods over the next 12 months. Expectations about the current state of Finland's and consumers' own finances were subdued. However, the assessment of the current state of the consumer's own finances was in line with the long-term average. 3)

1) Bank of Finland, Finland's economy is recovering from a pandemic, but is growing slowly after that. Euro & Economy 5/2021. Published on 17 December 2021.2) Statistics Finland, Employment deteriorated markedly in December. Published on 21 January 2021.3) Statistics Finland, Consumer confidence in January is the strongest in more than two years. Published on 27 December 2021.