Oma Säästöpankki (OMASP) Q1 2025 earnings summary

Executive summary

• Net interest income fell 18.3% year-over-year to EUR 46.9 million due to declining market rates, while total operating income dropped 18.9% to EUR 60.1 million.

• Operating expenses rose 31.9% year-over-year, mainly from risk management projects, regulatory processes, and increased personnel.

• Profit before taxes was EUR 3.1 million, down from EUR 24.7 million a year earlier; comparable profit before taxes was EUR 4.6 million.

• Impairment losses on financial assets totaled EUR -22.3 million, with a one-off ECL model update and provisions for regulatory sanctions impacting results.

• The bank’s capital position remains strong, with a total capital ratio of 17.7% and CET1 ratio of 16.5%.

Financial highlights

• Net interest income: EUR 46.9 million (-18.3% y/y); fee and commission income: EUR 12.4 million (-3%).

• Total operating income: EUR 60.1 million (-18.9% y/y); total operating expenses: EUR 34.2 million (+31.9% y/y).

• Cost/income ratio: 57.4% (35.2% y/y); comparable cost/income ratio: 54.4% (34.1% y/y).

• Profit before taxes: EUR 3.1 million (-87% y/y); comparable profit before taxes: EUR 4.6 million (-82% y/y).

• EPS: EUR 0.07 (EUR 0.60 y/y); ROE: 1.7% (14.9% y/y); comparable ROE: 2.5% (15.5% y/y).

Outlook and guidance

• 2025 comparable profit before taxes is guided at EUR 65–80 million, expected below the mid-point, down from EUR 86.7 million in 2024.

• Outlook is affected by lower market interest rates, high IT and risk management costs, and economic uncertainty.

• One-off impacts from ECL model update and regulatory provisions total EUR -11 million in Q1.