Central Bank of Savings Banks Finland Plc has published Half-year Report for 1 January - 30 June 2016
"During the review period the business activities of SB Central Bank developed as planned.The main focus of SB Central Bank's funding activities was on securing funding for the banks belonging to the Savings Banks Amalgamation and for Sp Mortgage Bank Plc, which started its operations during the review period. During the review period, SB Central Bank issued two-year senior unsecured bonds with a total value of EUR 450 million under the Euro Medium Term Note (EMTN) programme listed on the Irish Stock Exchange. In addition, private placement bonds amounting to EUR 170 million have been issued under the programme.
In May 2016, Standard & Poor's Rating Services (S&P) confirmed SB Central Bank a credit rating of 'BBB+' for long-term investment grade and a rating of 'A-2' for short-term investment grade. The outlook remained stable.
No significant changes took place in the other business areas during the review period. Payment transaction operations continued as planned and the payment card issuing services for the Amalgamation banks, launched at the end of 2015, proceeded as expected.
SB Central Bank's operating profit for January–June amounted to EUR 1,2 million and the balance sheet total at the end of the review period to EUR 2,2 billion."
Kirsi Autiosalo, CEO
CEO Kirsi Autiosalo
Tel. +358 20 703 2451