Sp Mortgage Bank Plc: Liedon Säästöpankki starts merger negotiations with Oma Savings Bank

Sp Mortgage Bank Plc
Stock exchange release
13 May 2022 at 15:00

On 13 May 2022, Liedon Säästöpankki announced it will begin merger negotiations with Oma Savings Bank. The decision on the merger will be made in the latter part of 2022.

“Liedon Säästöpankki’s decision to leave the Savings Banks Group is regrettable. Nevertheless, the Savings Banks Group’s solvency will remain strong, even though it will be negatively affected by Liedon Säästöpankki’s departure. Liedon Säästöpankki represents 11 per cent of the Savings Banks Group’s customer base. The Savings Banks Group will continue to operate as a solvent entity that is driven by its core values and strategy,” says Tomi Närhinen, CEO of the Savings Banks’ Union Coop.

SP MORTGAGE BANK PLC

Further information:

Tomi Närhinen
CEO, Savings Banks’ Union Coop
tomi.narhinen@saastopankki.fi
+358 40 724 3896

Sp Mortgage Bank Plc is part of the Savings Banks Group and the Savings Banks Amalgamation. The role of Sp Mortgage Bank is, together with Central Bank of Savings Banks Finland Plc, to be responsible for obtaining funding for the Savings Banks Group from money and capital markets. Sp Mortgage Bank is responsible for the Savings Banks Group's mortgage-secured funding by issuing covered bonds.