OP Corporate Bank plc’s Half-year Financial Report 1 January–30 June 2025

OP Corporate Bank plc
Half-year Financial Report 1 January–30 June 2025
Stock Exchange Release 30 July 2025 at 9.00 am EEST

OP Corporate Bank plc’s Half-year Financial Report 1 January–30 June 2025

• OP Corporate Bank plc’s operating profit increased by 38% to EUR 300 million (218).
• Total income grew by 11% to EUR 422 million (380). Net interest income grew by 13% to EUR 286 million (253). Investment income increased to EUR 72 million (71). Net commissions and fees decreased by 12% to EUR 33 million (38). Other operating income increased by 63% to EUR 30 million (18).
• Impairment loss on receivables reversed came to EUR 26 million. A year ago, impairment loss on receivables totalled EUR 16 million.
• Operating expenses remained at the previous year’s level at EUR 147 million (147). The cost/income ratio improved to 35% (39).
• The loan portfolio grew by 4.1% to EUR 28.5 billion (27.4) year on year. The deposit portfolio increased by 19.5% year on year, to EUR 17.6 billion (14.7).
• The Corporate Banking and Capital Markets segment’s operating profit increased by 20% to EUR 182 million (152). Net interest income grew by 17% to EUR 161 million (137). Net commissions and fees decreased to EUR 2 million (3). Investment income increased to EUR 70 million (68). Operating expenses increased by 4% to EUR 62 million (60). Impairment loss on receivables reversed came to EUR 9 million. A year ago, impairment loss on receivables reversed came to EUR 1 million. The cost/income ratio improved to 26% (28).
• The Asset and Sales Finance Services and Payment Transfers segment’s operating profit increased by 46 % to EUR 105 million (72). Net interest income was EUR 108 million (107). Net commissions and fees decreased to EUR 29 million (31). Operating expenses decreased by 4% to EUR 58 million (60). Impairment loss on receivables reversed came to EUR 16 million. A year ago, impairment loss on receivables totalled EUR 17 million. The cost/income ratio was 40% (40).
• The Baltics segment’s operating profit amounted to EUR 19 million (19). Net interest income grew by 6% to EUR 31 million (29). Net commissions and fees totalled EUR 5 million (5). Operating expenses increased by 17% to EUR 19 million (16). The cost/income ratio weakened to 51% (46).
• The Group Functions segment’s operating loss was EUR 6 million. A year ago, the operating loss amounted to EUR 25 million. Funding position and liquidity remained strong.
• OP Corporate Bank plc’s CET1 ratio remained at 14.0% (14.1), which exceeds the minimum regulatory requirement by 4.6 percentage points. The changes in the EU Capital Requirements Regulation (CRR3), which took effect on 1 January 2025, caused a slight reduction in capital adequacy.

OP Corporate Bank plc’s key indicators

Comparatives for the income statement items are based on the corresponding figures in 2024. Unless otherwise specified, figures from 31 December 2024 are used as comparatives for balance-sheet and other cross-sectional items.
*Change in ratio, percentage point(s).

Outlook

Trade-policy risks have been reduced by the preliminary tariff agreement between the US and EU, which may increase confidence in the economy. On the other hand, the higher tariffs will impact negatively on the economic outlook. Moreover, equity markets and the business environment of OP Corporate Bank and its customers could be affected by spreading geopolitical crises or mounting trade barriers.

A full-year earnings estimate for 2025 will only be provided at Group level, in OP Financial Group’s financial statements bulletin and in its interim and half-year financial reports.

The most significant uncertainties affecting OP Corporate Bank’s earnings performance relate to developments in the business environment, changes in the interest rate and investment environment, and developments in impairment loss on receivables. In addition, future earnings performance will be affected by the market growth rate and the change in the competitive situation. 

Forward-looking statements in this Half-year Financial Report expressing the management’s expectations, beliefs, estimates, forecasts, projections and assumptions are based on the current view of the future development in the business environment and the future financial performance of OP Corporate Bank plc and its various functions, and actual results may differ materially from those expressed in the forward-looking statements.

Financial reporting

Schedule for financial reporting in 2025:

Helsinki, 30 July 2025

OP Corporate Bank plc
Board of Directors

For additional information, please contact:

Katja Keitaanniemi, CEO, tel. +358 10 252 1387
Piia Kumpulainen, Chief Communications Officer, tel. +358 10 252 7317

DISTRIBUTION
Nasdaq Helsinki Oy
Euronext Dublin (Irish Stock Exchange)
LSE London Stock Exchange
Major media
op.fi

OP Corporate Bank plc is part of OP Financial Group. OP Corporate Bank and OP Mortgage Bank are responsible for OP’s funding in money and capital markets. As laid down in the applicable law, OP Corporate Bank, OP Mortgage Bank and their parent company OP Cooperative and other OP Financial Group member credit institutions are ultimately jointly and severally liable for each other’s debts and commitments. OP Corporate Bank acts as OP Financial Group’s central bank.