Central Bank of Savings Banks Finland Plc has published Annual Report for 2016
During 2016 the business operations of SB Central Bank expanded as planned. The focus of SB Central Bank's funding activities was on ensuring funding for the banks belonging to the Savings Banks Amalgamation and for Sp Mortgage Bank Plc, which commenced its operations in March, before its inaugural covered bond issuance in November. During the financial year, SB Central Bank issued senior unsecured bonds with a total value of EUR 524 million under the EMTN programme listed on the Irish Stock Exchange.
In May 2016, S&P Global Ratings confirmed that the credit rating of SB Central Bank was to remain at BBB+. The short-term credit rating remained at A-2. The outlook was stable. In November 2016, S&P confirmed that the credit ratings were to remain at the same level. However, the outlook was changed from stable to positive.
In other business areas SB Central Bank continued to maintain and develop its central credit institution services in accordance with its strategy and business plan.
SB Central Bank's profit for the financial year was EUR 1.1 million, and the balance sheet total amounted to EUR 2,305 million.
Kirsi Autiosalo, Managing Director
Managing Director Kirsi Autiosalo
Tel. +358 20 703 2451