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Oma Savings Bank Plc's merger negotiations proceed with Eurajoen Savings Bank

Oma Säästöpankki Oyj
·3-min read

OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE, 7 APRIL 2021 AT 9.30 A.M. EET, INSIDE INFORMATION


Oma Savings Bank Plc’s merger negotiations proceed with Eurajoen Savings Bank

In November 2020, Oma Savings Bank Plc (OmaSp) started negotiations to merge Eurajoen and Mietoinen Savings Banks into Oma Savings Bank. Negotiations proceeds with Eurajoen Savings Bank and decisions on unification will be made by the governing bodies of both banks during Q2. The merger negotiations with Mietoinen Savings Bank have come to an end.

CEO Pasi Sydänlammi, OmaSp:
“The merger with Eurajoen Savings Bank will further strengthen our bank’s profit-making ability and expand our service network in Satakunta, particularly in the economic regions Pori and Rauma. The customers of Eurajoen Savings Bank will continue to be customers in familiar branches, and the personnel of the bank will move as old employees to Oma Savings Bank.”

CEO Matti Saustila, Eurajoen Savings Bank:
“For the Eurajoen Savings Bank, the preparations for the disposal of the business are going well and on schedule. Our goal is that we will hand over our business by the end of 2021 and continue as a regional Savings Bank Foundation as a promoter of thrift and financial education. Customers and the bank's personnel have welcomed the news excellently and are aware that wider shoulders will ensure a more permanent and constantly evolving banking service for our private and corporate customers.”

When completed, the business transfers would increase the balance sheet of Oma Savings Bank by approximately EUR 300 million and increase the number of private and corporate customers by about 12,000. The combined profit before taxes of the banks was approximately EUR 40 million for 2020, of which OmaSp accounts for approximately EUR 38 million.


Oma Savings Bank Plc


Additional information:
Pasi Sydänlammi, CEO, puh +358 45 657 5506, pasi.sydanlammi@omasp.fi

Distribution:
Nasdaq Helsinki Ltd
Major media
www.omasp.fi

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.