OP Financial Group to weaken its earnings outlook for 2020

OP Financial Group
Inside information
Stock exchange release 21 April 2020 at 11.00 EEST

OP Financial Group to weaken its earnings outlook for 2020

In its financial statements bulletin on 4 February 2020, OP Financial Group expected its 2020 earnings before tax to be at about the same level as in 2019. However, the exceptional uncertainty caused by the coronavirus pandemic weakens the income from investments and the credit risk outlook. OP Financial Group’s earnings before tax for 2020 are expected to be lower than in 2019.

OP Financial Group’s preliminary earnings before tax for January–March 2020 were 129 million euros (194).

Despite the coronavirus pandemic, OP Financial Group’s capital adequacy is at a solid level. In addition, its funding position and liquidity are good.

OP Financial Group will publish its interim report for Q1/2020 at 9.00 on Tuesday 28 April 2020.

OP Corporate Bank plc
OP Cooperative
Tuuli Kousa
Chief Communications and Corporate Responsibility Officer

Further information and requests for interviews:
OP Corporate Communications, tel. +358 50 523 9904, viestinta@op.fi

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OP Financial Group is Finland’s largest financial services group that has two million owner-customers and 12 000 employees. We provide a comprehensive range of banking and insurance services for private and corporate customers. OP Financial Group consists of OP cooperative banks, its central cooperative OP Cooperative, and the latter’s subsidiaries and affiliates. Our mission is to promote the sustainable prosperity, security and wellbeing of our owner-customers and operating region. www.op.fi