OP Corporate Bank plc's Interim Report 1 January–30 September 2024

OP Corporate Bank plc Interim Report 1 January–30 September 2024 Stock Exchange Release 31 October 2024 at 9.00 EET OP Corporate Bank plc's Interim Report 1 January–30 September 2024OP Corporate Bank plc'soperating profit rose to EUR 336 million (259).Net interest income increased by 11% to EUR 466 million (421). Investment income fell by 57% to EUR 23 million (53). Net commissions and fees totalled EUR 53 million (52).Impairment loss on receivables decreased to EUR 15 million...

Helsinki, 31/10/2024 (informazione.it - comunicati stampa - servizi)

OP Corporate Bank plc
Interim Report 1 January–30 September 2024
Stock Exchange Release 31 October 2024 at 9.00 EET

OP Corporate Bank plc's Interim Report 1 January–30 September 2024

OP Corporate Bank plc's key indicators

Comparatives for the income statement are based on the corresponding figures in 2023. Unless otherwise specified, figures from 31 December 2023 are used as comparatives for balance-sheet and other cross-sectional items.
*Change in ratio, percentage point(s).
**The presentation of interest receivables and liabilities related to derivative contracts was changed in the second quarter of 2024. Comparative information has been adjusted accordingly. For more detailed information on the change, see Note 1 to the Half-year Financial Report 1 January–30 June 2024, Accounting policies and changes in accounting policies and presentation.

Outlook for 2024

The Finnish economy was sluggish in the first half. GDP contracted over the previous year and unemployment increased. Forecast data suggests that the Finnish economy began to grow in the third quarter of 2024. Falling inflation and falling interest rates provide the basis for the recovery to continue. Risks associated with the economic outlook are still higher than usual. The escalation of geopolitical crises may abruptly affect capital markets and the economic environment.

A full-year earnings estimate for 2024 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 key uncertainties affecting OP Corporate Bank's earnings performance in late 2024 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 Interim 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's and its various functions, and actual results may differ materially from those expressed in the forward-looking statements.

Time of publication of 2024 reports:

Schedule for Financial Statements Bulletin 2024 and Interim Reports and Half-year Financial Report in 2025:

Helsinki, 31 October 2024

OP Corporate Bank plc
Board of Directors

Additional information:

Katja Keitaanniemi, CEO, tel. +358 (0)10 252 1387
Piia Kumpulainen, CCO, tel. +358 (0)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.

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