Information  X 
Enter a valid email address

OP CorporateBank plc (31VN)

  Print   

Friday 29 June, 2018

OP CorporateBank plc

OP Financial Group's capital adequacy clearly exceeds the new capital adequacy requirements set by the Financial Supervisory Authority

OP Financial Group's capital adequacy clearly exceeds the new capital adequacy requirements set by the Financial Supervisory Authority

OP Corporate Bank plc
OP Cooperative
Stock exchange release
29 June 2018 at 3.30 pm

OP Financial Group's capital adequacy clearly exceeds the new capital adequacy requirements set by the Financial Supervisory Authority

The Financial Supervisory Authority announced in its macroprudential policy decision on 29 June 2018 that it will set a 2% systemic risk buffer, i.e. a capital buffer requirement, for OP Financial Group as of 1 July 2019. The decision will not raise OP Financial Group's capital requirement from its current level. OP Financial Group's current total capital adequacy requirement will remain at 14.3% of the total risk. Similarly, the Common Equity Tier 1 (CET1) ratio requirement will remain at 10.8%. OP Financial Group clearly meets the capital adequacy requirements: at the end of March 2018, OP Financial Group's capital adequacy ratio stood at 22.3% and its CET1 ratio at 20%.

Setting the systematic risk buffer will not cause any special action. OP Financial Group will continue strengthening its capital adequacy in line with its strategic targets.

The systematic risk buffer, and the O-SII buffer, which is set for nationally significant banks, are parallel buffers and only the higher of the two is applied. As part of its macroprudential policy decision, the Financial Supervisory Authority has set a 2% O-SII buffer for OP Financial Group. The O-SII buffer has been at the same level since the beginning of 2016.

OP Corporate Bank plc
OP Cooperative
Carina Geber-Teir
EVP, Corporate Communications

Further information and requests for interviews:
OP Communications, tel. +358 (0)50 523 9904, [email protected]

DISTRIBUTION
Nasdaq Helsinki Ltd
Euronext Dublin (Irish Stock Exchange)
LSE London Stock Exchange
SIX Swiss Exchange
Major media
op.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 160 member cooperative banks, its central cooperative OP Cooperative, and the latter's subsidiaries and affiliates. The Group has a staff of 12,000 and 1.8 million owner-customers.
www.op.fi




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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


a d v e r t i s e m e n t