Yksityiskohta OP-Vallilan rakennuksesta.

OP Financial Group's Key Indicators

OP Financial Group’s Interim Report for 1 January–31 March 2023: Operating profit EUR 480 million – a strong capital base and good liquidity in an uncertain business environment.

OP Financial Group's key indicators

 

Q1/2023 

Q1/2022 

Change, % 

Q1–Q4/2022 

Operating profit, € million 

480 

174 

176.0 

1,120 

Retail Banking 

256 

54 

376.9 

502 

Corporate Banking 

100 

3 

- 

416 

Insurance 

90 

85 

5.7 

293 

Group Functions 

4 

11 

-62.5 

-91 

New OP bonuses accrued to owner-customers, € million 

-64 

-54 

19.5 

-215 

Total income 

1,111 

816 

36.0 

3,394 

Total expenses 

-553 

-514 

7.6 

-1,961 

Return on equity (ROE), % 

10.5 

4.3 

6.3* 

6.3 

Return on equity, excluding OP bonuses, % 

11.8 

5.4 

6.4* 

7.4 

Return on assets (ROA), % 

0.94 

0.35 

0.59* 

0.52 

Return on assets, excluding OP bonuses, % 

1.05 

0.44 

0.61* 

0.61 

 

31 Mar 2023 

31 Mar 2022 

Change, % 

31 Dec 2022 

CET1 ratio, % 

18.3 

18.4 

-0.1* 

17.4 

Loan portfolio, € billion** 

98.8 

97.9 

0.9 

100.2 

Deposits, € billion** 

74.1 

75.0 

-1.1 

78.0 

Ratio of non-performing exposures to exposures, % ** 

2.41 

2.47 

-0.06* 

2.31 

Ratio of impairment loss on receivables to loan and guarantee portfolio, % 

0.09 

0.11 

-0.02* 

0.11 

Owner-customers (1,000) 

2,071 

2,053 

0.9 

2,066 

 

OP Financial Group has applied IFRS 17 Insurance Contracts as of 1 January 2023. The 2022 figures in the income statement and balance sheet have been adjusted retrospectively. The preceding years’ figures (2019, 2020 and 2021) have not been adjusted. Note 1 Accounting policies of this report provides more details on the adoption of IFRS 17 and the changes in the format of the income statement and balance sheet.  

Comparatives for the income statement are based on the corresponding figures a year ago. Unless otherwise specified, figures from 31 December 2022 are used as comparatives for balance-sheet and other cross-sectional items.  

*Change in ratio. 

**The loan portfolio and deposits exclude changes in the fair value of loans and deposits in hedge accounting as of 1 January 2023. Comparatives have been adjusted to correspond to the current definition.  

Strategic targets

 

31 Mar 2023 

31 Dec 2022 

Target 2025 

Return on equity (ROE excluding OP bonuses), % 

11.8 

7.4 

8.0 

CET1 ratio, % 

18.3 

17.4 

at least CET1 requirement  
+ 4 pps 

Brand recommendations, NPS (Net Promoter Score, personal and corporate customers) ** 

Banking: 25 

Banking: 27 

Banking: 30 

Insurance: 16 

Insurance: 17 

Insurance: 20  

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 March-end capital adequacy requirement was 16.3%.

**Average of quarters (per financial year).