Oma Säästöpankki (OMASP) investor relations material

Executive summary

• Results for January–June 2026 were in line with expectations, with strong growth in new lending and fee income, and continued execution of growth and efficiency strategies.

• Impairment losses on financial assets decreased, and capital adequacy continued to strengthen.

• S-Bank (S-Pankki) announced a public tender offer for all shares at EUR 17.20 per share, a 47% premium over the previous closing price, with completion expected in Q4 2026.

• Shareholders representing 59.9% of shares have agreed to accept the offer; board recommends acceptance and business operations continue as normal.

• S&P Global Ratings affirmed BBB/A-2 ratings and placed the long-term rating on CreditWatch positive after the tender offer announcement.

Financial highlights

• Comparable profit before tax was EUR 23.6 million, unchanged year-over-year; profit before taxes for H1 2026 was EUR 22.1 million, up 1.8% year-over-year.

• Net interest income declined 20.7% year-over-year to EUR 72.1 million due to lower market rates and a smaller loan portfolio.

• Net fee and commission income rose by 7% to EUR 26.6 million, driven by fund management, card, and payment services.

• Operating expenses increased slightly to EUR 63.2 million, partly due to one-off items.

• Impairment losses on financial assets decreased to EUR 14.9 million for the half-year.

Outlook and guidance

• Net interest income is expected to decrease for the full year 2026 due to lower market rates and a smaller loan portfolio.

• Comparable profit before taxes for 2026 is expected to decline slightly from 2025 (EUR 56.9 million).

• Fee income growth and diversified earnings generation remain strategic focuses.

• Impairment losses on financial assets are expected to remain below the previous year’s level.

• The S-Bank tender offer may result in additional unforeseen expenses.