OP Corporate Bank plc Half-year Financial Report 1 January–30 June 2024 Stock Exchange Release 24 July 2024 at 9.00 am EEST

OP Corporate Bank plc has released its Half-year Financial Report for the period of 1 January to 30 June 2024, showcasing impressive financial results. The bank’s operating profit rose to EUR 218 million, a significant increase from the previous year. Net interest income also saw a 16% growth to EUR 306 million, while investment income fell by 54% to EUR 18 million.

In terms of the loan and deposit portfolios, the bank experienced a slight decrease in the loan portfolio but a substantial increase in the deposit portfolio. The Corporate Banking and Capital Markets segment saw a notable increase in operating profit, while the Asset and Sales Finance Services and Payment Transfers segment remained stable.

The bank’s financial position and liquidity remained strong, with a CET1 ratio of 14.1%, exceeding the minimum regulatory requirement by 5.4 percentage points. The outlook for 2024 remains cautiously optimistic, with economic recovery expected despite ongoing risks in the global economic environment.

OP Corporate Bank plc is part of OP Financial Group and plays a crucial role in the group’s funding in money and capital markets. The bank, along with OP Mortgage Bank, is jointly and severally liable for each other’s debts and commitments, ensuring financial stability within the group.

For more information, interested parties can contact Katja Keitaanniemi, Chief Executive Officer, or Lotta Ala-Kulju, Head of Corporate Communications. The bank’s next Interim Report for Q1-3/2024 is scheduled for release on 31 October 2024.