OMA SAVINGS BANK PLC, STOCK MARKET RELEASE, MAY 13, 2022 AT 9:55 AM EET, INSIDE NEWS
Oma Savings Bank Plc a To start upNegotiations to merge Liedon Savings Bank with its business
Oma Savings Bank Plc (OmySp) initiated negotiations to merge the banking activities of Liedonot Savings bank in OmySp. The merger is expected to take place within the next 12 months. Once the project is complete, Lieput on The Savings Bank will continue to operate as a major regional savings bank foundation and non-profit organization operator. Final merger decisions will be taken within the board of directors of Oma Savings Bank and the board of directors of Liedon savings bank end of 2022. Both parties have a strong desire to make the project a reality.
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 economic area of Turku and complement our service network throughout the south- western Finland. When completed, the planned acquisition of the business is the largest in OmaSp’s history. The growth in business volumes would further improve OmaSp’s profitability and business profitability, and the transaction would have a material positive impact on earnings.
CEO Jouni Niuro, Liedon Savings Bank:
“Joining forces in the Turku Economic Zone is a really important and meaningful thing for us. Once complete, the merger will ensure continuity of personalized service and take Liedon Savings Bank’s operations to the next level. The Liedon Savings Bank Foundation would continue its long history as a regional bank, and with its significant assets would be a major regional influencer and promoter of savings, economic education and research.
Liedon Savings Bank’s balance sheet is around 1.3 billion euros and the number of private and corporate customers is around 55,000. The banks’ combined operating profit for 2021 was around 95, 6 million euros, of which OmaSp represented 83.3 million euros.
Oma SSavings Bank Plc
Pasi Sydänlammi, CEO, tel. +358 45 657 5506, firstname.lastname@example.org
Minna Sillanpää, CCO, tel. +358 50 665 92, email@example.com
Nasdaq Helsinki Ltd
OmaSp is a growing Finnish bank and Finland’s largest savings bank by total assets. About 330 professionals provide services nationwide through OmaSp’s 35 branches and digital service channels to more than 150,000 private and corporate customers. OmaSp focuses primarily on retail banking operations and offers its customers a wide range of banking services both through its own balance sheet and by acting as an intermediary for its partners’ products. Intermediated products include credit insurance, investment and loan products. OmaSp is also engaged in mortgage banking.
The central idea of OmaSp is to provide personalized service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to provide a high level customer experience through personalized service and easy accessibility. In addition, the development of operations and services is customer-oriented. Staff are engaged and OmaSp seeks to support their career development with cross-functional tasks and continuous development. A substantial part of the staff also holds OmaSp shares.