Brief: Oma Savings Bank And Cognizant Agree To Terminate Contract For Core Banking Project

Oma Saastopankki Oyj

23/06/2021 06:33

June 23 (Reuters) - Oma Saastopankki Oyj  OMASP.HE :
    * REG-OMA SAVINGS BANK PLC AND COGNIZANT HAVE AGREED TO
TERMINATE
THE CONTRACT FOR THE CORE BANKING PROJECT
    * TO CANCEL PROJECT AND TERMINATE CONTRACT REGARDING RENEWAL
OF
CORE BANKING PLATFORM COMMENCED IN 2019
    * COGNIZANT WILL PAY OMASP A SIGNIFICANT FINANCIAL
COMPENSATION
    * COMPENSATION WILL HAVE POSITIVE IMPACT OF APPROXIMATELY
EUR 22
MILLION ON OMASP'S PROFIT BEFORE TAXES FOR FINANCIAL YEAR 2021.

Source text for Eikon:  ID:nGNEbbhFPs 
Further company coverage:  OMASP.HE 

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