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The co-operation negotiations of Oma Savings Bank Plc have ended

10.12.2019 klo 14:30 The co-operation negotiations of Oma Savings Bank Plc have ended

OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 10 DECEMBER 2019 AT 14.30 P.M. EET, INSIDE INFORMATION


The co-operation negotiations of Oma Savings Bank Plc have ended

The co-operation negotiations initiated by Oma Savings Bank Plc (OmaSp) on November 7, 2019 on preparing for changes in the operating environment have been completed. The co-operation negotiations focused on the mergers of branches and the skills and recruitment needs brought by the changing operating environment and new operating models. The co-operation negotiations involved the branches Parikkala-Imatra, Joutseno-Lappeenranta, Hammaslahti-Joensuu, Hamina-Kotka, Hauho-Hämeenlinna, Häijää-Tampere, Kurikka-Ilmajoki and branch group 3 debt collection.

As a result of the co-operation negotiations, the six smaller branches will be merged with the larger branches nearby, the Parikkala with Imatra branch, Joutseno with Lappeenranta, Hammaslahti with Joensuu, Hauho with Hämeenlinna, Häijää with Tampere and Kurikka Center with Ilmajoki branch. The Hamina branch, which was under co-operation negotiation, will continue to operate. In addition, the branch group 3 debt collection will be reorganized.

The planned measures will lead to a reduction of 8 jobs. In addition, 9 people can be offered an internal transfer to receiving branches. During the negotiations, new skills and recruitment needs have been identified in the corporate customer business and IT functions. The changes are estimated to have annual cost savings of approximately EUR 1 million. The non-recurring items related to the potential restructuring amount to approximately EUR 1.4 million and will be recognized in the last quarter of 2019.

“In the co-operation negotiations, both the customer and the personnel perspective were evaluated. The position of the existing branch network, demographic change, change in customer behavior and a meaningful work community were the subjects of discussions. The changes we make respond to changes in the operating environment, and we do not primarily seek cost savings. With these development measures, we want to ensure that we continue to provide the best possible banking service to our customers. It is also particularly important to us that our personnel enjoy their work and that everyone feels they are doing a meaningful job. We aim to support our customers in a changing operating environment, and are looking at possible transportation arrangements for customers to nearby branches”, says CEO Pasi Sydänlammi.


Oma Savings Bank Plc


Additional information:
Pasi Sydänlammi, CEO, puh +358 45 657 5506, pasi.sydanlammi@omasp.fi
Minna Sillanpää, CCO, tel. +358 50 66592, minna.sillanpaa@omasp.fi


DISTRIBUTION
Nasdaq Helsinki Ltd
Major media
www.omasp.fi

OmaSp is a growing Finnish bank and the largest savings bank in Finland based on total assets. About 300 professionals provide nationwide services through OmaSp’s 38 branch offices and digital service channels to over 136,000 customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan insurance products. OmaSp is also engaged in mortgage banking operations.

OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.

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