Board of Directors and organisational structure of SP Mortgage Bank Plc
Sp Mortgage Bank Plc is a mortgage bank wholly owned by the Savings Banks that belong to the Savings Banks Amalgamation. The supreme decision-making body of Sp Mortgage Bank Plc is the General Meeting, which elects the company’s Board of Directors and auditor. Sp Mortgage Bank is managed by the Board of Directors and the CEO.
Sp Mortgage Bank does not have personnel of its own. Instead, it purchases the necessary functions and support services from companies that are members of the Savings Banks Amalgamation or provide services to the Amalgamation.
Board of DirectorsMonika Mangs, Chairman
Ossi Öhman,, Vice Chairman
Sp Mortgage Bank Plc as a company
Sp Mortgage Bank Plc, a member of the Savings Bank Group, received an authorisation to operate as a mortgage credit bank, granted by the European Central Bank, on 21 March 2016 and started it’s operations on 29th March 2016. Sp Mortgage Bank was the first Finnish bank that applied for and received its authorisation from the European Central Bank.
Sp Mortgage Bank does not have its own customer business operations or a service network; instead, the Savings Banks that belong to the Savings Banks Amalgamation intermediate residential mortgage loans for Sp Mortgage Bank. The Savings Banks also manages the customer relationship locally.
Sp Mortgage Bank Plc is responsible for the Group's secured funding by issuing covered bonds.