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OP Financial Group raises its earnings outlook for 2022

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

OP Financial Group
Inside information
Stock exchange release 19 September 2022 at 13.15

OP Financial Group raises its earnings outlook for 2022

In its half-year financial report published on 27 July 2022, OP Financial Group expected its earnings before tax for 2022 to be lower than in 2021. Earnings before tax for 2021 were EUR 1,127 million. Based on a new estimate, OP Financial Group's earnings before tax for 2022 are expected to be at about the same level or higher than in 2021 due to an increase in market rates.

Earnings performance continues to be affected by major uncertainty. Rising inflation and the war in Ukraine, including the related sanctions and counter-sanctions, are expected to substantially weaken the predictability associated with the economy and profit performance. In addition, inflation developments may cause uncertainty and fluctuations in bond and stock markets.

OP Financial Group's Interim Report for 1 January–30 September 2022 will be published on 26 October 2022.

OP Corporate Bank plc
OP Cooperative

Further information:
OP Financial Group’s Investor Relations, IR@op.fi

Media enquiries:
OP Financial Group’s Corporate 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 Financial Group is Finland’s largest financial services group, with over two million owner-customers and around 13,000 employees. We provide a comprehensive range of banking and insurance services for personal and corporate customers. OP Financial Group consists of OP cooperative banks, its central cooperative OP Cooperative, and the latter’s subsidiaries and affiliates. Our mission is to promote the sustainable prosperity, security and wellbeing of our owner-customers and operating region. Together with our owner-customers, we have been building Finnish society and a sustainable future for more than 120 years. www.op.fi