OP Financial Group’s key indicators
|
€ million |
Q1/2025 |
Q1/2024 |
Change, % |
Q1–4/2024 |
|
Operating profit, € million |
423 |
618 |
-31.4 |
2,486 |
|
Retail Banking*** |
291 |
379 |
-23.4 |
1,328 |
|
Corporate Banking*** |
145 |
129 |
12.8 |
520 |
|
Insurance |
-14 |
118 |
-111.5 |
578 |
|
Group Functions |
23 |
-5 |
– |
19 |
|
New OP bonuses accrued to owner-customers, € million |
-81 |
-75 |
7.6 |
-314 |
|
Total income** |
989 |
1,194 |
-17.1 |
4,844 |
|
Total expenses |
-590 |
-537 |
10.0 |
-2,262 |
|
Cost/income ratio, %*/** |
59.7 |
45.0 |
14.7 |
46.7 |
|
Return on equity (ROE), %* |
7.5 |
12.1 |
-4.5 |
11.6 |
|
Return on equity, excluding OP bonuses, %* |
8.8 |
13.4 |
-4.6 |
13.0 |
|
Return on assets (ROA), %* |
0.85 |
1.25 |
-0.40 |
1.24 |
|
Return on assets, excluding OP bonuses, %* |
0.99 |
1.39 |
-0.39 |
1.39 |
|
31 Mar 2025 |
31 Mar 2024 |
Change, % |
31 Dec 2024 |
|
|
CET1 ratio, %* |
20.0 |
19.6 |
0.3 |
21.5 |
|
Loan portfolio, € billion |
99.1 |
98.4 |
0.7 |
98.9 |
|
Deposits, € billion |
77.5 |
73.6 |
5.4 |
77.7 |
|
Assets under management, € billion**** |
94.4 |
89.4 |
5.6 |
93.3 |
|
Ratio of non-performing exposures to exposures, %* |
2.48 |
3.04 |
-0.56 |
2.64 |
|
Ratio of impairment loss on receivables to loan and guarantee portfolio, %* |
-0.10 |
0.15 |
-0.25 |
0.09 |
|
Owner-customers (1,000) |
2,121 |
2,095 |
1.3 |
2,115 |
Comparatives for the income statement items are based on the corresponding figures in 2024. Unless otherwise specified, figures from 31 December 2024 are used as comparatives for balance-sheet and other cross-sectional items.
* Change in ratio, percentage point(s).
** OP bonuses to owner-customers, which were previously shown on a separate line in the income statement, have been divided under the following items based on their accrual: interest income, interest expenses, and commission income from mutual funds. The line 'OP bonuses to owner-customers' is no longer shown in the income statement. Comparative information of Q1 2024 has been adjusted accordingly. For more detailed information on the change, see Note 1 to the Half-year Financial Report 1 January–30 June 2024, Accounting policies and changes in accounting policies and presentation.
*** As of 1 January 2025, OP Asset Management Ltd, OP Fund Management Company Ltd and OP Real Estate Asset Management Ltd, including subsidiaries, are reported as part of the Retail Banking segment. Comparative information of 2024 has been adjusted accordingly.
**** The presentation of assets under management was changed at the beginning of 2025. Comparatives have been adjusted to correspond to the current definition.
OP Financial Group's strategic targets and outcomes
|
|
31 Mar 2025 |
31 Dec 2024 |
Target |
|
Return on equity (ROE excluding OP bonuses), % |
8.8 |
13.0 |
9.0 |
|
CET1 ratio, % |
20.0 |
21.5 |
At least CET1 requirement + 4 pps* |
|
Brand recommendations, bNPS (Net Promoter Score, personal and corporate customers)** |
Banking: 1 |
Banking: 1 |
Banking: 1 |
|
Insurance: 2 |
Insurance: 2 |
Insurance: 1 |
|
|
Credit rating |
AA-/Aa3 |
AA-/Aa3 |
At least at the level of AA-/Aa3 |
* OP Financial Group's target CET1 ratio is at least the CET1 capital adequacy requirement plus four percentage points. The CET1 target calculated by applying the capital adequacy requirement of 31 March 2025 was 17.0%.
** Ranking in the survey on switching bank and insurer by Kantar Finland Oy and in a nationwide survey on SMEs by Red Note Oy.