Bonum Bank PLC: Bonum Bank PLC Board of Directors report and Financial statements 1 JAN - 31 DEC 2017

Bonum Bank Plc: Bonum Bank Plc Board of Directors' Report and Financial Statements 1 Jan - 31 Dec 2017

 

Bonum Bank Plc
Board of Directors’ Report and Financial Statements 15 February 2018 at 13:00

Bonum Bank Plc Board of Directors’ Report and Financial Statements 1 January - 31 December 2017

During the financial year 2017 Bonum Bank Plc has concentrated strongly on supporting amalgamations’ banks’ business and developing Group’s internal bank. Since autumn 2017, Bonum Bank has been in charge of the amalgamation’s liquidity coverage requirement (LCR) and its management, which has grown the balance sheet of Bonum Bank by approximately EUR 100 million due to the new LCR deposits of POP Banks.

Bonum Bank has S&P Global’s rating of BBB for long-term investment grade and A-2 for short-term investment grade, which were affirmed during the financial year 2017. Bonum Bank is responsible for the wholesale funding of the POP Bank Group by issuing senior bonds and certificates of deposits.

  • The profit for the financial year was EUR 118 thousand (EUR 978 thousand), which was lower compared to the profit of the reference year.  A sales gain on the Visa transaction had a positive effect on the gains on financial year 2016.
  • Balance sheet grew to EUR 556 million (EUR 457 million) due to the centralized management of liquidity coverage.
  • Capital adequacy ratio grew to 53.2 per cent (28.7 per cent) due to an equity investment.


Key ratios (1000 euroa) 31.12.2017 31.12.2016
Net interest income 2 196 2 476
Profit 118 978
Balance sheet total 556 310 456 960
Common equity Tier 1 capital ratio, (CET1) % 53.2 28.7
Cost-to-income ratio, % 88.48 76.71
ROA, % 0.05 0.22
ROE, % 0.88 4.66
Equity ratio, % 5.75 4.75

Bonum Bank Plc is part of the amalgamation of POP Banks and responsible for providing the central credit institution services to the 26 POP Banks. The role of the central credit institution is to secure POP Banks’ liquidity and wholesale funding and also ensure POP Bank Group’s payment transfers. In addition, Bonum Bank is responsible for granting and maintaining POP Bank customers’ payment and credit cards.

Further information:
Kirsi Salo, interim CEO
+358 40 650 0411, kirsi.salo@poppankki.fi

Pekka Lemettinen, Chairman of the Board
+358 40 503 5411, pekka.lemettinen@poppankki.fi

Distribution:
Nasdaq Helsinki Ltd
www.bonumpankki.fi

Bonum Bank briefly

Bonum Bank provides clearing, settlement and treasury services for POP Banks. Bonum Bank is an internal bank in the POP Bank group. As a central credit institution it provides banking services for other POP Banks hence reducing need for outside service providers. The objective is to provide necessary central bank services for POP Banks and later extend the services when needed.

Bonum Bank is supervised by the Financial Supervisory Authority, Snellmaninkatu 6, PO Box 103, FI-00101 Helsinki, (Tel) +358 9 183 51, www.finanssivalvonta.fi.

The bank is a member of the Federation of Finance Finland, address Itämerenkatu 11-13, FI-00180 Helsinki, www.finanssiala.fi/en

Owners

POP Bank Centre based in Espoo is the central organization of the POP Bank group being the group's advocacy and support unit. The group consists of independent POP Banks operating in different parts of Finland.

POP Bank Group was established in 1997 to pursue truly independent local cooperative banking and activities in favor of its members and their clients. POP Bank services cover individual customers, small and medium-sized enterprises as well as farmers and forest owners providing them payment solutions, cards, savings and investment products as well as financial services.

Contact

Cards

Please note that we can not comment on customer related information by email.

POP Bank's card customer service

Tel. +358 (0)10 248 4800
Mon-Fri 9 am to 6 pm
0,0835€/call + 0,1669€/min 

Card Block service (24H)

Tel. +358 (0)20 333

 

Contact

Switchboard

Tel. +358 (0)10 667 3000

Back office

Tel. +358 (0)10 667 3030

backoffice.bonumpankki (at) poppankki.fi

Treasury

Tel. +358 (0)10 667 3010

treasury.bonumpankki (at) poppankki.fi

News

Bonum Bank PLC: Bonum Bank PLC Board of Directors report and Financial statements 1 JAN - 31 DEC 2017

Bonum Bank Plc: Bonum Bank Plc Board of Directors' Report and Financial Statements 1 Jan - 31 Dec 2017

 

Bonum Bank Plc
Board of Directors’ Report and Financial Statements 15 February 2018 at 13:00

Bonum Bank Plc Board of Directors’ Report and Financial Statements 1 January - 31 December 2017

During the financial year 2017 Bonum Bank Plc has concentrated strongly on supporting amalgamations’ banks’ business and developing Group’s internal bank. Since autumn 2017, Bonum Bank has been in charge of the amalgamation’s liquidity coverage requirement (LCR) and its management, which has grown the balance sheet of Bonum Bank by approximately EUR 100 million due to the new LCR deposits of POP Banks.

Bonum Bank has S&P Global’s rating of BBB for long-term investment grade and A-2 for short-term investment grade, which were affirmed during the financial year 2017. Bonum Bank is responsible for the wholesale funding of the POP Bank Group by issuing senior bonds and certificates of deposits.

  • The profit for the financial year was EUR 118 thousand (EUR 978 thousand), which was lower compared to the profit of the reference year.  A sales gain on the Visa transaction had a positive effect on the gains on financial year 2016.
  • Balance sheet grew to EUR 556 million (EUR 457 million) due to the centralized management of liquidity coverage.
  • Capital adequacy ratio grew to 53.2 per cent (28.7 per cent) due to an equity investment.


Key ratios (1000 euroa) 31.12.2017 31.12.2016
Net interest income 2 196 2 476
Profit 118 978
Balance sheet total 556 310 456 960
Common equity Tier 1 capital ratio, (CET1) % 53.2 28.7
Cost-to-income ratio, % 88.48 76.71
ROA, % 0.05 0.22
ROE, % 0.88 4.66
Equity ratio, % 5.75 4.75

Bonum Bank Plc is part of the amalgamation of POP Banks and responsible for providing the central credit institution services to the 26 POP Banks. The role of the central credit institution is to secure POP Banks’ liquidity and wholesale funding and also ensure POP Bank Group’s payment transfers. In addition, Bonum Bank is responsible for granting and maintaining POP Bank customers’ payment and credit cards.

Further information:
Kirsi Salo, interim CEO
+358 40 650 0411, kirsi.salo@poppankki.fi

Pekka Lemettinen, Chairman of the Board
+358 40 503 5411, pekka.lemettinen@poppankki.fi

Distribution:
Nasdaq Helsinki Ltd
www.bonumpankki.fi

Bonum Bank Plc

Hevosenkenkä 3

FI-02600 Espoo

Tel. +358 (0)10 4233 710

firstname.lastname@poppankki.fi

Business identity code 2192977-5

BIC/SWIFT Address: POPFFI22