Central Bank of Savings Banks Finland Plc: Liedon Säästöpankki starts merger negotiations with Oma Savings Bank

Central Bank of Savings Banks Finland Plc
Stock exchange release
13 May 2022 at 15:00

On 13 May 2022, Liedon Säästöpankki announced it will begin merger negotiations with Oma Savings Bank. The decision on the merger will be made in the latter part of 2022.

“Liedon Säästöpankki’s decision to leave the Savings Banks Group is regrettable. Nevertheless, the Savings Banks Group’s solvency will remain strong, even though it will be negatively affected by Liedon Säästöpankki’s departure. Liedon Säästöpankki represents 11 per cent of the Savings Banks Group’s customer base. The Savings Banks Group will continue to operate as a solvent entity that is driven by its core values and strategy,” says Tomi Närhinen, CEO of the Savings Banks’ Union Coop.

CENTRAL BANK OF SAVINGS BANKS FINLAND PLC

Further information:

Tomi Närhinen
CEO, Savings Banks’ Union Coop
tomi.narhinen@saastopankki.fi
+358 40 724 3896

Central Bank of Savings Banks Finland Plc belongs to the Savings Banks Amalgamation and Savings Banks Group and acts as the Group’s central credit institution. Central Bank of Savings Banks Finland Plc’s role is to ensure the liquidity and wholesale funding of the Savings Banks Group by operating in the money and capital markets, as well as to operate payment transfers and the issuance of payment cards.