Central Bank of Savings Banks Finland Plc: Central Bank of Savings Banks Finland Plc and the Savings Banks Group decrease their forecast for the financial outlook for 2020

Rahapuu

Central Bank of Savings Banks Finland Plc
Stock Exchange Release
24 April 2020 at 14.00

Central Bank of Savings Banks Finland Plc and the Savings Banks Group decrease their forecast for the financial outlook for 2020.

The exceptional situation caused by the coronavirus pandemic and economic uncertainty impair the outlook for business operations for 2020. Central Bank of Savings Banks Finland Plc’s and the Savings Banks Group’s profit before tax for 2020 is estimated to be lower than their profit before tax for 2019.

Despite the effects of the coronavirus pandemic, the Savings Banks Group’s solvency is strong and its financial position and liquidity are also good.

SAVINGS BANKS GROUP

Additional information:

Tomi Närhinen, CEO, Savings Banks' Union Coop
Chairman of the Board of Directors, Central Bank of Savings Banks Finland Plc
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 Group's central credit institution. Central Bank of Savings Banks Finland Plc's role is to ensure liquidity and wholesale funding of the Savings Banks Group via operating in the money and capital markets, to operate payment transfers and issuance of payment cards.
Published
Type
Stock exchange
Publisher
Central Bank of Savings Bank
...