OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE, 13 MAY 2022 AT 9.55 A.M. EET, INSIDE INFORMATION
Oma Savings Bank Plc has started negotiations to merge Liedon Savings Bank into its business
Oma Savings Bank Plc (OmaSp) has launched negotiations to merge the bank business of Liedon Savings Bank into OmaSp. The merger is expected to take place over the next 12 months. Upon completion of the project, Liedon Savings Bank will continue to operate as a significant regional Savings Bank Foundation and a non-profit operator. Final decisions to merge will be made in the Board of Directors of Oma Savings Bank and in the Board of Trustees of Liedon Savings Bank in late 2022. Both parties have a strong state of will to make the project happen.
CEO Pasi Sydänlammi, OmaSp:
“This is a really positive and significant thing for OmaSp. The acquisition would significantly strengthen our bank's market position and business volumes in the important Turku economic area and complement our service network throughout Southwest Finland. Upon completion, the planned acquisition of the business is the largest in the history of OmaSp. Growing business volumes would further improve OmaSp's cost efficiency and business profitability, and the transaction would have a significant positive impact on earnings.”
CEO Jouni Niuro, Liedon Savings Bank:
“Joining forces in the Turku economic area is a really important and significant thing for us. Upon completion, the merger will ensure the continuity of personal service and take the operations of Liedon Savings Bank to the next level. Liedon Savings Bank Foundation would continue its long regional bank history, and with its significant assets, it would be an important regional influencer and promoter of thrift, economic education and research.”
The balance sheet of Liedon Savings Bank is approximately EUR 1.3 billion and the number of private and corporate customers is about 55,000. The combined operating profit of the banks for 2021 was approximately EUR 95.6 million, of which OmaSp accounted for EUR 83.3 million.
Oma Savings Bank Plc
Additional information:
Pasi Sydänlammi, CEO, tel. +358 45 657 5506, pasi.sydanlammi@omasp.fi
Minna Sillanpää, CCO, tel. +358 50 665 92, minna.sillanpaa@omasp.fi
Distribution:
Nasdaq Helsinki Ltd
Major media
www.omasp.fi
OmaSp is a growing Finnish bank and the largest savings bank in Finland based on total assets. About 330 professionals provide nationwide services through OmaSp’s 35 branch offices and digital service channels to over 150,000 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.
