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Correction:OP Corporate Bank plc corrects the CET1 minimum requirements shown in its Half-year Financial Report for 1 January–30 June 2022

·1-min read
OP Corporate Bank plc
OP Corporate Bank plc

OP Corporate Bank plc
Half-year Financial Report 1 January–30 June 2022
Stock Exchange Release 16 August 2022 at 20.00 EEST

Correction: OP Corporate Bank plc corrects the CET1 minimum requirements shown in its Half-year Financial Report for 1 January–30 June 2022

OP Corporate Bank plc’s Half-year Financial Report (H1 report) published on 27 July 2022 contained incorrect information concerning OP Corporate Bank plc’s minimum capital requirements, on pages 1 and 7. The total capital adequacy requirement will remain unchanged at 10.5 per cent, but the CET1 minimum with buffers is 1.5 percentage points higher than reported earlier, or 8.5 per cent (7 per cent in the H1 report). OP Corporate Bank plc covers the shortfall of Additional Tier 1 (AT1) capital with CET1 capital. This makes the CET1 minimum with buffers higher. OP Corporate Bank plc’s CET1 ratio exceeds the minimum regulatory requirement by 3.9 percentage points (5.4 percentage points in the H1 report).

The corrected full Half-year Financial Report is appended to this release. It is also available at op.fi.

OP Corporate Bank plc

Further information:
OP Financial Group Communications, tel. +358 10 252 8719, viestinta@op.fi

DISTRIBUTION
Nasdaq Helsinki Ltd
Euronext Dublin (Irish Stock Exchange)
LSE London Stock Exchange
Major media
op.fi

OP Corporate Bank plc is part of the leading Finnish customer-owned financial services group, OP Financial Group. OP Corporate Bank and OP Mortgage Bank are responsible for OP's funding in money and capital markets. As laid down in the applicable law, OP Corporate Bank, OP Mortgage Bank, their parent company OP Cooperative and other OP Financial Group member credit institutions are ultimately jointly and severally liable for each other’s debts and commitments. OP Corporate Bank acts as OP Financial Group's central bank.