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Oma Savings Bank Plc’s Interim Report 1.1.-31.3.2026: The volume of new loans began to increase – capital adequacy continued to strengthen – the comparable profit before tax for the first quarter improved to EUR 13.7 million

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Released: 07.05.2026

Category: Interim Report

OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 7 MAY 2026 AT 8.45 A.M. EEST, INTERIM REPORT Q1

Oma Savings Bank Plc’s Interim Report 1.1.-31.3.2026:

The volume of new loans began to increase – capital adequacy continued to strengthen – the comparable profit before tax for the first quarter improved to EUR 13.7 million

This release is a summary of Oma Savings Bank’s (OmaSp) January-March 2026 Interim Report, which can be read from the pdf file attached to this stock exchange release and on the Company’s web pages www.omasp.fi

CEO Karri Alameri:

The year 2026 opened in an operating environment characterised by geopolitical tension, moderate economic growth and uncertainty in the financial markets. Relatively low market interest rates are continuing to put pressure on banks’ net interest income, and investors have become more cautious. For OmaSp, the first quarter proceeded as planned despite the challenges in the business environment. As a result of our determined work, costs have continued to decline, while fee and commission income grew as planned. Net interest income decreased as expected.

Fee and commission income broadly increasing

Comparable profit before tax for Q1 amounted to EUR 13.7 million (EUR 4.6 million). Comparable earnings per share were EUR 0.33, whereas it had been EUR 0.11 a year earlier. Comparable return on equity was 7.0% (2.5%), and the comparable cost-to-income ratio was 57.5% (54.4%).

Comparable operating income totalled EUR 50.1 million (EUR 59.5 million), representing a 15.8% decrease compared with the corresponding period in the previous year.

Net interest income decreased by 23.7% year on year to EUR 35.8 million (EUR 46.9 million). The decline was mainly the result of lower market interest rates and a smaller loan portfolio. The average margin on the loan portfolio remained broadly unchanged.

In line with our strategy, we increased net fee and commission income broadly by 7.4% to EUR 13.4 million (EUR 12.4 million), driven especially by the development of card and payment transaction fees as well as fund management fees.

Comparable operating expenses decreased by 11.1% to EUR 28.6 million (EUR 32.2 million). However, personnel expenses increased to EUR 11.1 million (EUR 9.9 million), a rise of 12.3% compared to the corresponding period last year. The number of employees increased, standing at 634 (620) at the end of the period.

Lending activity recovering

The volume of loans granted in January–March this year increased by 63.6% compared with the reference period, reaching EUR 221.7 million (EUR 135.5 million). During the first quarter this year, the volume of loans granted increased by 3.6% compared with the last quarter of 2025.

The mortgage portfolio contracted by 3.0% over the previous 12 months and the SME customer loan portfolio by 16.1%. This was primarily due to the exit from higher-risk customer relationships, measures related to the controlled winding-down portfolio, and subdued loan demand due to the general economic situation.

The deposit base remained stable over the previous 12 months, amounting to EUR 3.8 billion (3.8 billion) at the end of March.

Decline in impairment losses – economic environment reflected in non-performing exposures  

The level of non-performing exposures continued to reflect the weak performance of the Finnish economy, particularly the subdued development in the real estate market. The increase in non-performing exposures was concentrated among retail customers and real estate companies. The duration of the collection process has lengthened, particularly due to prolonged realisation periods for real estate collateral. However, the volume of new non-performing loans has declined.

Non-performing exposures totalled EUR 543 million (EUR 485 million) at the end of the period, corresponding to 9.3% (7.7%) of the loan portfolio. In line with the plan confirmed towards the end of 2025, we are continuing our determined efforts to reduce non-performing loans. During the current year, we will focus on enhancing early-stage collection measures, and we will continuously assess opportunities to reduce non-performing exposures through a variety of arrangements.

Impairment losses on financial assets fell during the first quarter compared with the reference period, totalling EUR 7.4 million (EUR 22.3 million). Of this, expected credit losses (ECL) amounted to EUR 7.1 million (EUR 21.2 million). In the comparison period, an update to the ECL calculation model impacted the amount by EUR 8.5 million and provisions related to the controlled winding-down portfolio by EUR 5.7 million.

Net realised credit losses decreased compared with the reference period and amounted to EUR 0.3 million (EUR 1.2 million) in the first quarter.

Implementation of strategy of growth progressing step by step

In January 2026, the Board of Directors approved the company’s updated strategy and financial targets for 2026–2029. Our objectives are to grow responsibly and profitably, to diversify our income base, and to strengthen personal service as a key competitive advantage. We aim to achieve a position as a nationally recognised and established bank that combines the highly personal service of a small bank with the reliability of a solid bank, supported by the efficiencies that a unified operating model allows. Our growth will be based on increasingly diversified revenue generation.

The company aims to achieve a comparable return on equity of over 14% in the medium term (3–5 years). OmaSp aims to pay a stable and growing dividend of at least 30% of net profit.

Strong balance sheet supporting profitable growth

OmaSp’s capital adequacy continued to strengthen. At the end of March, the total capital ratio stood at 19.4% (19.3%). Total equity amounted to EUR 628.7 million (EUR 618.8 million).

With its strong balance sheet, clear strategy and customer-centric operating model, OmaSp is well positioned to support its customers and promote sustainable and profitable growth. We are continuing to build an even stronger bank by improving efficiency and enhancing the customer experience across all our service channels.

The strategy of growth confirmed at the beginning of the year provides a clear direction for the next four years. Despite the uncertainty in our operating environment, we will continue our systematic efforts to implement our strategy and create value for our shareholders.

I would like to warmly thank our employees for their dedicated work for the benefit of the company and our customers for continuing to place their trust in us.

January–March 2026

  • For the first quarter of the year, profit before taxes was EUR 13.9 (3.1) million and comparable profit before taxes was EUR 13.7 (4.6) million.
  • Total capital (TC) ratio strengthened further and was 19.4 (19.3)%.
  • As a result of the decline in the loan portfolio and decline in market rates, net interest income decreased compared to the comparison period by 23.7% in the first quarter.
  • Mortgage portfolio decreased by 3.0% during the previous 12 months. SME customer loan portfolio decreased by 16.1% during the previous 12 months. This was mainly due to exit from risk customers, progress in the controlled winding down portfolio and subdued loan demand due to the general economic situation.
  • The amount of loans granted in January-March increased by 63.6% compared to the comparison period and was EUR 221.7 (135.5) million. The amount of loans granted during the first quarter increased by 3.6% compared to the previous quarter.
  • The deposit portfolio has remained stable over the previous 12 months, declining by 0.4%.
  • In the first quarter, fee and commission income and expenses (net) increased by 7.4% and were in total EUR 13.4 (12.4) million. Commission income from lending, fund savings and payment transactions increased from the comparison period. Fee and commission expenses increased by 9.3% compared to the comparison period.
  • Total operating income decreased by 15.7% in the first quarter compared to the comparison period. In the first quarter, comparable total operating income decreased by 15.8% and were EUR 50.1 (59.5) million.
  • In the first quarter, total operating expenses decreased by 15.4% compared to the comparison period. Personnel expenses increased by 12.3% in the first quarter. The number of personnel at the end of the period was 634 (620).
  • In the first quarter, other operating expenses decreased by 30.3% and were in total EUR 15.5 (22.2) million.
    • In the first quarter, comparable total operating expenses decreased by 11.1% and were EUR 28.6 (32.2) million.
  • In the first quarter, impairment losses on financial assets decreased by 66.8% and were in total EUR -7.4 (-22.3) million. During the comparison period, the Company implemented an ECL model change, the total impact of which increased the amount of ECL by approximately EUR 8.5 million.
  • In the first quarter, the cost/income ratio was 57.6 (57.4)% and comparable cost/income ratio was 57.5 (54.4)%.
  • Comparable return on equity (ROE) was 7.0 (2.5)%.
The Group’s key figures (EUR 1,000)1–3/20261–3/2025Δ %1–12/2025
Net interest income35,77446,880-24%168,637
Fee and commission income and expenses, net13,35612,4397%50,651
Total operating income50,62360,074-16%221,408
Total operating expenses-28,966-34,240-15%-123,066
Impairment losses on financial assets, net-7,401-22,322-67%-47,111
Profit before taxes13,8983,111347%49,248
Cost/income ratio %57.6%57.4%0%56.1%
1) Balance sheet total7,224,2167,504,064-4%7,462,363
Equity628,702583,0268%618,829
1) Return on assets (ROA) %0.6%0.1%373%0.5%
Return on equity (ROE) %7.1%1.7%324%6.6%
Earnings per share (EPS), EUR0.330.07356%1.19
Total capital (TC) ratio %19.4%17.7%9%19.3%
Common Equity Tier 1 (CET1) capital ratio %18.5%16.5%12%18.3%
Comparable profit before taxes13,7254,617197%56,896
Comparable cost/income ratio %57.5%54.4%6%53.5%
Comparable return on equity (ROE) %7.0%2.5%180%7.6%

1) The Company revised the official balance sheet formula during the first quarter of 2026. The changes are described in more detail in Note 2. The comparison periods have been adjusted retrospectively.

Outlook for 2026

The outlook for the Company’s business in the financial year 2026 is affected by the general situation of the housing market and the impact of the market situation on the willingness of SMEs to invest in particular. With the decline in market interest rates and changes in the credit portfolio, net interest income will decrease compared to the previous financial year. In line with its strategy, the Company focuses on diversified revenue generation and increasing commission income. The growth in the cost structure has been halted, and the Company expects stable cost development for 2026. The Company estimates that the impairment losses on financial assets will remain at a lower level than in the previous financial year.

We estimate that the Group’s comparable profit before taxes for the financial year 2026 will decline slightly from the comparison period (the comparable profit before taxes for the financial year 2025 was EUR 56.9 million).

Oma Savings Bank Plc

Webcast for analysts, investors and media representatives on 7 May 2026

The results will be presented by CEO Karri Alameri accordingly:

  • The webcast in Finnish is at 11:00 EEST. The link to the webcast in Finnish can be accessed from here.
  • The webcast in English is at 12:00 EEST. The link to the webcast in English can be accessed from here. If you want to ask questions during the English webcast, please choose “join conference call here” at the webcast front page.

Both broadcasts will be recorded, and the recordings will be available later on the same day at https://www.omasp.fi/en/investors

Oma Savings Bank Plc

Requests for additional information:

Karri Alameri, CEO, tel. +358 20 758 3040, karri.alameri@omasp.fi

Pirjetta Soikkeli, CCO, tel. +358 40 750 0093, pirjetta.soikkeli@omasp.fi

DISTRIBUTION:

Nasdaq Helsinki Ltd

Major media

www.omasp.fi

OmaSp is a solvent and profitable Finnish bank. About 600 professionals provide nationwide services through OmaSp’s 48 branch offices and digital service channels to over 200,000 private and SME customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediate products include credit, investment, and loan insurance products. OmaSp is also engaged in mortgage banking operations.

OmaSp’s core idea is to provide personal service to its customers, both in digital and traditional channels. OmaSp strives to offer a premium-level customer experience through personal service and easy accessibility. In addition, the development of operations and services is customer oriented. The personnel are committed, and OmaSp seeks to support their career development with varied tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

Attachments

  • Oma Savings Bank Plc’s Interim Report January-March 2026

Attachment

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