Central Bank of Savings Banks Finland Plc has published Annual Report 2014
"During the first year as a central credit institution, Central Bank of Savings Banks' business operations have been vigorously developed and at the same time Central Bank joined the Savings Banks Amalgamation. Central credit institution functions were returned successfully to the Savings Banks Group. To support the Savings Banks Amalgamations strategy and competitiveness, the treasury services and refinancing has been developed significantly during the operational year. The result of Central Bank of Savings Banks showed a profit of EUR 80 thousand, and the balance sheet total was EUR 714 million. There is expected significant business growth also during the year 2015, especially by refinancing and payment card issuing functions."
Hannu Lanteri, CEO
The SB Central Bank financial statement is prepared in accordance with the International Financial Reporting Standards (IFRS). SB Central Bank moved over from the Finnish Accounting Standards (FAS) to the International Financial Reporting Standards (IFRS) on 1 January 2014. The financial The date of transfer to the IFRS standards was 1 January 2013. The transition to IFRS reporting brought changes to the financial statement preparation principles and methods of calculation. Nevertheless, the transition has no notable effect on SB Central Bank's result or balance sheet in the financial year 2014 or the comparison year 2013.
CEO, Hannu Lanteri
Tel. +358 400 816 268
CFO, Mervi Hammarberg
Tel. +358 50 341 1196
Central Bank of Savings Banks Finland PLC Financial Statement 2014