Oma Säästöpankki (OMASP) Q2 2026 earnings summary

Executive summary

• Profit before tax for H1 2026 was €23.6 million, unchanged year-over-year; comparable pre-tax profit was €23.6 million, while reported pre-tax profit was €22.1 million, up 1.8% year-over-year.

• S-Pankki announced a €17.20/share public cash tender offer for all shares, with 59.9% of shareholders committed and board recommending acceptance; delisting from Nasdaq Helsinki planned if successful.

• Strong growth in new lending and broad-based increase in fee income, despite a weak economic environment.

• Credit losses on financial assets decreased, and capital adequacy further strengthened.

Financial highlights

• Net interest income declined to €72.1 million from €90.9 million year-over-year, a 20.7% decrease.

• Net fee and commission income rose to €26.6 million from €24.9 million, up 6.9% year-over-year.

• Operating expenses increased to €63.2 million from €62.7 million year-over-year, driven by one-off items; personnel expenses up 11.3%.

• Loan portfolio shrank 2.4% year-over-year; new lending grew 41.6% year-over-year.

• EPS for H1 was €0.57, up from €0.56 year-over-year.

Outlook and guidance

• 2026 outlook unchanged; net interest income expected to decline due to lower market rates and shrinking loan book.

• Comparable profit before tax for 2026 expected to decrease slightly from 2025 (€56.9 million).

• Fee income growth and diversified earnings remain strategic priorities.

• Credit loss impairments expected to remain below prior year.

• S-Pankki’s tender offer may introduce additional unforeseen costs.