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OP CorporateBank plc (31VN)

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Tuesday 16 August, 2016

OP CorporateBank plc

Correction to a table in the Note to OP Financial Group's Interim Report for 1 January-30 June 2016

Correction to a table in the Note to OP Financial Group's Interim Report for 1 January-30 June 2016

OP Financial Group
Stock exchange release
16 August 2016 at 15.30 pm EEST

Correction to a table in the Note to OP Financial Group's Interim Report for 1 January-30 June 2016

Note 12: Receivables from credit institutions and customers, and doubtful receivables in the Interim Report published by OP Financial Group on 3 August 2016 contained incorrect information. The table of the Note with figures for 30 June 2016 showed incorrectly figures for 31 March 2016. The tables below show the correct figures.  

30 June 2016, EUR millionNot impaired (gross)Impaired (gross)TotalIndividual assessment
of
impairment
Collective assessment
of
impairment
Balance sheet value
Receivables from credit institutions and customers      
Receivables from
credit institutions
430   430   2 428
Receivables from
customers, of which
75,685 580 76,265 407 61 75,797
  bank guarantee
  receivables
6 9 15 9 1 6
Finance leases 1,181   1,181    1,181
Total77,29658077,8764076277,406
Receivables from credit institutions and
customers by sector
      
Non-banking
corporate sector
26,341 420 26,761 323 32 26,406
Financial institutions and insurance companies 1,175 0 1,175 0 2 1,173
Households 48,407 154 48,561 81 27 48,453
Non-profit organisations 666 6 671 3 1 668
Public sector entities 707   707   0 707
Total77,29658077,8764076277,406

Doubtful receivables, 30 June 2016, EUR millionPerforming receivables
from credit institutions
and
customers (gross)
Non-performing receivables from credit institutions and customers (gross)Receivables from credit institutions and customers, total (gross)Individually
assessed impairment
Receivables from
credit institutions
and customers (net)
More than 90 days past due   531 531 209 322
Unlikely to be paid   467 467 151 316
Forborne receivables 1,591 268 1,859 48 1,811
Total1,5911,2662,8574072,450

Key ratio, %30 June 2016
Exposures individually assessed for impairment,
% of doubtful receivables
14.3%

The corrected full Interim Report is appended to the release. It is also available at op.fi.

DISTRIBUTION
Nasdaq Helsinki Ltd
London Stock Exchange
SIX Swiss Exchange
Major media
op.fi and pohjola.fi

OP Financial Group is Finland's largest financial services group whose mission is to create sustainable prosperity, security and wellbeing for its owner-customers and in its operating region by means of its strong capital base and efficiency. OP Financial Group consists of about 180 member cooperative banks, its central cooperative OP Cooperative, and the latter's subsidiaries and affiliates. The Group has a staff of 12,000 and approximately 1.7 million owner-customers and 4.3 million customers. www.op.fi




This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: OP Yrityspankki Oyj via Globenewswire

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