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OP CorporateBank plc (31VN)

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Tuesday 24 April, 2018

OP CorporateBank plc

OP Financial Group to weaken its earnings outlook for 2018 - full-year earnings are expected to be lower than a year ago

OP Financial Group to weaken its earnings outlook for 2018 - full-year earnings are expected to be lower than a year ago

OP Financial Group
Stock Exchange Release, 24 April 2018 at 9.00 am EET
Inside information

OP Financial Group to weaken its earnings outlook for 2018 - full-year earnings are expected to be lower than a year ago

In its financial statements bulletin on 8 February 2018, OP Financial Group expected its 2018 earnings before tax to be at about the same level as or lower than in 2017.

According to the current estimate, OP Financial Group's earnings for 2018 are still expected to be good but to remain lower than the last year's almost record earnings, unlike previously expected. The earnings outlook is weakened especially by weaker developments in investment income and a higher-than-expected increase in costs caused by development.

Change to OP Financial Group's outlook: Earnings before tax for 2018 are expected to be lower than in 2017.

OP Financial Group will publish its Q1/2018 interim report at 9.00 am on Thursday 3 May 2018.

For more information, please contact:
Harri Luhtala, CFO, tel. +358 (0)10 252 2433

Interview requests:
OP Communications, tel. +358 (0)50 523 9904, [email protected]

DISTRIBUTION
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SIX Swiss Exchange
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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 170 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 and 4.4 million 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


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