Oma Savings Bank acquires Handelsbanken's SME operations in Finland [Yahoo! Finance]
SVENSKA HANDELSBK UNS/ADR (SVNLY)
NASDAQ:AMEX Investor Relations:
danskebank.com/investor-relations
Company Research
Source: Yahoo! Finance
The transaction, first announced in May 2023, includes the transfer of personal banking services for entrepreneurs, except asset management and investment services, to OmaSp. The acquisition encompasses a deposit base of approximately €440m ($441.8m) and a lending volume of approximately €500m. Around 10,000 customers and 30 employees from Handelsbanken have joined OmaSp as a result of the deal. OmaSp CEO Sarianna Liiri said: “With this acquisition, OmaSp's market position will further strengthen in Finland, even though the size of the transferred stock has decreased from the time the transaction was agreed due to several factors, such as long execution time and more accurate segmentation. “The transaction strengthens the annual profit before taxes by approximately €7m–€10m. The impact on OmaSp's capital adequacy is approximately -1.7% points through risk-weighted assets, and the company's capital adequacy remains stable. “The purchase price was paid in cash and was the net
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