Banks|Oma Säästöpankki’s stock is falling in price on Thursday after the earnings warning issued on Wednesday evening.
Own Säästöbank’s stock has clearly depreciated on Thursday after Wednesday’s earnings warning. The company’s share price has fallen by more than 3.5 percent during the first 45 minutes of trading.
The bank said on Wednesday evening that its lending guidelines have been significantly violated, the company says. Company announcedthat an external investigation has confirmed the matter.
Oma Säästöpankki reported on the activity against the instructions that occurred in the lending in April.
Managing director Sarianna Liirin according to this is an individual case where the credit risk position of the customers has been concealed by forming customer groups deliberately incorrectly. Liiri says that activities contrary to the guidelines are limited to around 240 million euros from the company’s credit portfolio.
The company previously said that the sites are located nationwide around Finland and target the real estate industry.
The company also gave a negative on Wednesday result warning. It estimates the comparable result before taxes to be 80–100 million euros this year, while it previously estimated the result to be 120–140 million euros.
STT did not reach Oma Säästöpankki to comment on the matter.
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