Bonum Bank Plc: Board of Directors’ Report and Financial Statements 1 January – 31 December 2020
Stock Exchange Release
15th of February, 2021 at 9.00Bonum Bank Plc: Board of Directors’ Report and Financial Statements 1 January – 31 December 2020Bonum Bank Plc is the central credit institution of amalgamation of POP Banks. It is responsible for obtaining external funding for the POP Bank Group, handling payments and in addition it grants unsecured consumer credits and secured debt securities to retail customers. Bonum Bank Plc is also a provider of amalgamation’s centralised services. Bonum Bank Plc’s providing of funding to the POP Banks has diversified significantly during the financial year 2020. Bonum Bank Plc has a EUR 750 million bond programme, within which three issues were conducted in 2020. In June, Bonum Bank Plc participated in the European Central Bank’s TLTRO III funding operation to the tune of EUR 50 million.S&P Global Ratings affirmed in May 2020 Bonum Bank Plc’s rating of BBB for long-term investment grade and A-2 for short-term investment grade. The outlook, S&P Global Ratings changed in January 22, 2021 from negative to stable.Bonum Bank Plc is actively seeking new business opportunities to supplement the Group’s product offering. Interest income for POP Pikalaina, which is the bank’s digital retail banking product, developed very favourably year-on-year. Bonum Bank Plc’s role as service provider to the POP Banks in the amalgamation has been strengthening during the year. A service centre, that was established in Vaasa in the beginning of 2020 to support banks in achieving their growth targets and enhance customer acquisition, has exceeded many of its goals. Improving the efficiency of anti-money laundering measures and systems has been one of Bonum Bank Plc’s key development focuses. In early autumn, the bank signed an agreement with SAS Institute Finland on acquiring a monitoring system license and implementing it within the bank system.The profit for the financial year increased to EUR 712 thousand (EUR 242 thousand) and balance sheet grew to EUR 1,006,480 thousand (EUR 588,631 thousand).
For further information, please contact:Pia Ali-Tolppa, CEO, Bonum Bank Plc, tel. +358 50 303 1476, pia.ali-tolppa@poppankki.fiDISTRIBUTION
Nasdaq Helsinki Ltd
Major media
www.poppankki.fiAttachmentsBonum Bank Plc Board of Director’s Report and Financial Statements 1 January – 31 December 2020Bonum Bank Plc_Auditors Report 2020
15th of February, 2021 at 9.00Bonum Bank Plc: Board of Directors’ Report and Financial Statements 1 January – 31 December 2020Bonum Bank Plc is the central credit institution of amalgamation of POP Banks. It is responsible for obtaining external funding for the POP Bank Group, handling payments and in addition it grants unsecured consumer credits and secured debt securities to retail customers. Bonum Bank Plc is also a provider of amalgamation’s centralised services. Bonum Bank Plc’s providing of funding to the POP Banks has diversified significantly during the financial year 2020. Bonum Bank Plc has a EUR 750 million bond programme, within which three issues were conducted in 2020. In June, Bonum Bank Plc participated in the European Central Bank’s TLTRO III funding operation to the tune of EUR 50 million.S&P Global Ratings affirmed in May 2020 Bonum Bank Plc’s rating of BBB for long-term investment grade and A-2 for short-term investment grade. The outlook, S&P Global Ratings changed in January 22, 2021 from negative to stable.Bonum Bank Plc is actively seeking new business opportunities to supplement the Group’s product offering. Interest income for POP Pikalaina, which is the bank’s digital retail banking product, developed very favourably year-on-year. Bonum Bank Plc’s role as service provider to the POP Banks in the amalgamation has been strengthening during the year. A service centre, that was established in Vaasa in the beginning of 2020 to support banks in achieving their growth targets and enhance customer acquisition, has exceeded many of its goals. Improving the efficiency of anti-money laundering measures and systems has been one of Bonum Bank Plc’s key development focuses. In early autumn, the bank signed an agreement with SAS Institute Finland on acquiring a monitoring system license and implementing it within the bank system.The profit for the financial year increased to EUR 712 thousand (EUR 242 thousand) and balance sheet grew to EUR 1,006,480 thousand (EUR 588,631 thousand).
For further information, please contact:Pia Ali-Tolppa, CEO, Bonum Bank Plc, tel. +358 50 303 1476, pia.ali-tolppa@poppankki.fiDISTRIBUTION
Nasdaq Helsinki Ltd
Major media
www.poppankki.fiAttachmentsBonum Bank Plc Board of Director’s Report and Financial Statements 1 January – 31 December 2020Bonum Bank Plc_Auditors Report 2020
