Brief: Oma Savings Bank Cuts Guidance

Oma Saastopankki Oyj

16/04/2024 06:50

April 16 (Reuters) - Oma Saastopankki Oyj  OMASP.HE :
    * REG-INSIDE INFORMATION, NEGATIVE PROFIT WARNING: OMA SAVINGS BANK PLC PUBLISHES
PRELIMINARY
INFORMATION ON THE RESULT FOR THE FIRST QUARTER
    * COMPARABLE PROFIT BEFORE TAXES IS EXPECTED TO BE EUR 120-140 MILLION FOR FINANCIAL YEAR
2024.
    * Q1 NET INTEREST INCOME WILL INCREASE BY 58% AND FEE AND COMMISSION INCOME AND EXPENSES BY
22%
VERSUS COMPARISON PERIOD
    * COMPARABLE PROFIT BEFORE TAXES IS ABOUT EUR 25.6 MILLION FOR Q1, AN INCREASE OF 6%
COMPARED TO
COMPARISON PERIOD
    * PREVIOUS OUTLOOK: COMPARABLE PROFIT BEFORE TAXES TO REMAIN AT CURRENT EXCELLENT LEVEL IN
2024
    * AT END OF Q1, COMPANY DETECTED NON-COMPLIANCE WITH GUIDELINES AS A RESULT OF ITS OWN
MONITORING
PROCESSES,
    * COMPANY'S CREDIT RISK POSITION DETERIORATED MATERIALLY FOR CERTAIN CUSTOMER ENTITIES
    * INDIVIDUAL CUSTOMER ENTITIES WERE DELIBERATELY FORMED INCORRECTLY

Source text for Eikon:  ID:nGNEkbbs7 
Further company coverage:  OMASP.HE 

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