Oma Savings Bank Plc’s capital requirement for systemic risk to increase from 1 April 2024 – the requirement is already met
OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 30 MARCH 2023 12.40 P.M., OTHER INFORMATION DISCLOSED ACCORDING TO THE RULES OF THE EXCHANGE
Oma Savings Bank Plc’s capital requirement for systemic risk to increase from 1 April 2024 – the requirement is already met
On 30 March 2023, the Finnish Financial Supervisory Authority (FIN-FSA) has imposed on Oma Savings Bank Plc (OmaSp or the Company) an additional capital requirement (systemic risk buffer requirement) of 1.0 percent in accordance with Chapter 10 § 4a and b of the Credit Institutions Activities Act. The Company's core capital requirement will be 8.85 percent and total capital requirement will be 13.01 percent. The requirements set will enter into force for Finnish banks on 1 April 2024. OmaSp already meets future capital requirements. The Company's core capital ratio (CET1) was 13.3 percent and total capital ratio (TC) was 14.9 percent at the end of 2022.
Oma Savings Bank Plc
Additional information and interview requests for media:
Minna Sillanpää, CCO, tel. ,
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Nasdaq Helsinki Ltd
Major media
OmaSp is a growing Finnish bank and the largest savings bank in Finland based on total assets. About 450 professionals provide nationwide services through OmaSp’s 45 branch offices and digital service channels to over 200,000 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.
