OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 22 JANUARY 2019 AT 9.50 A.M. EET
Positive profit warning: Oma Savings Bank Plc raise its 2018 profit guidelines
Oma Savings Bank Plc (OmaSp or Company) raises its previous 2018 profit guidelines. The Company's 2018 profit before taxes, excluding net income on financial assets and liabilities, will increase significantly compared to the previous year. The improved earnings outlook is driven by speedy growth in business volumes, which affects the strong development of both net interest income and fee and commission income.
New profit guidelines:
Oma Savings Bank Plc Group's profit before taxes excluding net income on financial assets and liabilities, will increase significantly compared to the previous year and will amount to approximately 24-25 million euros. The result for the financial year 2018 will include 1.7 million euros related costs to IPO. In 2017, net income on financial assets and liabilities were highlighted in profit, affecting the result by approximately 10.8 million euros. In 2017, profit before taxes excluding net income on financial assets and liabilities was 19.6 million euros.
Previous profit guidelines (Interim Report published on November 5, 2018):
According to the bank’s estimates, the profit before taxes excluding net income on financial assets and liabilities will increase in the accounting period of 2018 compared to the previous year. In 2017, net income on financial assets and liabilities were highlighted in Oma Savings Bank’s profit, affecting the result by approximately 10.8 million euros. In 2017, profit before taxes excluding net income on financial assets and liabilities was 19.6 million euros.
OmaSp will publish the 2018 financial statements bulletin as previously announced on 19 February 2019. In this context, the Company will provide an estimate of profit prospects in 2019.
Oma Savings Bank Plc
Pasi Sydänlammi, CEO, tel. +358 45 657 5506, firstname.lastname@example.org
Sarianna Liiri, CFO, tel. +358 40 835 6712, email@example.com
Additional information and interview requests for media:
Minna Sillanpää, CCO, tel. +358 50 66592, firstname.lastname@example.org
Nasdaq Helsinki Ltd
OmaSp in short
OmaSp is a growing Finnish bank and the largest savings bank in Finland based on total assets. Over 270 professionals provide nationwide services through OmaSp’s 40 branch offices and digital service channels to approximately 135,000 customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan in-surance products. OmaSp is also engaged in mortgage banking operations.
OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.