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OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 29 SEPTEMBER 2021 AT 8.30 A.M. EET, OTHER INFORMATION DISCLOSED ACCORDING TO THE RULES OF EXCHANGE
The business transfer between Oma Savings Bank Plc and Eurajoen Savings Bank will take place - estimated impact on profit 14-16 million euros
On 23 September 2021, Oma Savings Bank (OmaSp or the company) announced the Board's decision to acquire the business 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 Eurajoen Savings Bank. At its meeting on 28 September 2021, the governing body of Eurajoen Savings Bank decided to transfer the business of Eurajoen Savings Bank to OmaSp in accordance with the acquisition plan registered in June 2021, and therefore the decision of OmaSp’s Board of Directors to acquire the business has taken effect.
Estimated impact on profit 14-16 million euros
According to the current estimate, the positive profit impact of the business transfer will be EUR 14-16 million for OmaSp, of which EUR 8-9 million will be recognised in the company's profit before taxes for the financial year 2021. The rest of the profit impact is expected to be recognised over the next five years. The final profit impact of the business transfer will be specified on 30 November 2021 based on the balance sheet and transferring assets and liabilities. The total cost of the business transfer is estimated at approximately EUR 3 million and the costs will be targeted for 2021 and early 2022. The business transfer is expected to increase OmaSp's profit before taxes by EUR 3-5 million per year in the future.
Oma Savings Bank Plc
Pasi Sydänlammi, CEO, tel +358 45 657 5506, email@example.com
Helena Juutilainen, CLO, tel +358 40 580 6401, firstname.lastname@example.org
Sarianna Liiri, CFO, puh. +358 40 835 6712, email@example.com
Minna Sillanpää, CCO, tel +358 50 66592, firstname.lastname@example.org
Nasdaq Helsinki Ltd
Oma Savings Bank in short
OmaSp is a growing Finnish bank and the largest savings bank in Finland based on total assets. About 300 professionals provide nationwide services through OmaSp’s 32 branch offices and digital service channels to 140,000 private and corporate 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 insurance 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.