Bonum Bank Plc: Half-year report for 1 January - 30 June 2019

Bonum Bank Plc: Half-year report for 1 January - 30 June 2019 

Bonum Bank Plc Stock Exchange Release 16th August 2019 at 9.00 EET 


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.  

During H1 2019 Bonum Bank Plc continued to develop services in accordance with the amalgamation’s strategy. By developing the services, Bonum Bank Plc strives to strengthen the business operations and cost efficiency of the POP Group, enabling healthy and profitable growth. Bonum Bank’s role as the provider of services for the banks in the amalgamation has strengthened. The funding intermediated from Bonum Bank Plc to POP Banks intensified during the first half of the year. 

In May, S&P Global Ratings reiterated Bonum Bank Plc’s long-term rating as BBB (investment grade) and its short-term rating as A-2. The outlook remains stable. Bonum Bank is responsible for the wholesale funding of the POP Bank Group by issuing senior bonds and certificates of deposits. 

During the reporting period, the earnings of Bonum Bank Plc grew by 23.7 per cent with regards to the comparison period. Result of the period was EUR 264 thousand negative, whereas in the comparison period it was EUR 128 thousand negative. The bank’s balance sheet at the close of the period under review was EUR 588,536 (606,015) thousand. 

 

Key ratios (EUR 1,000) 

3Jun 2019 

30 Jun 2018 

31 Dec 2018 

 

Net interest income 

1,510  

1,104  

2,310 

 

Net commissions and fees 

3,239 

2,813 

6,235 

 

Profit 

-264  

-128 

192 

 

Balance sheet total 

558,536  

552,107 

606,015 

 

 

Capital adequacy ratio (TC), % 

33.7 

41.9 

43.7 

 

Cost-to-income ratio, % 

96.7 

100.6 

94.9 

 

ROA, % 

-0.09 

-0.05 

0.03 

 

ROE, % 

-1.66 

-0.80 

0.60 

 

Equity ratio, % 

5.4 

5.7 

5.2 

 

 

Further information: 

CEO Pia Ali-Tolppa, Bonum Bank Plc, Tel. +358 50 303 1476, pia.ali-tolppa@poppankki.fi 

Chairman of the board Pekka Lemettinen, POP Bank Alliance Coop, Tel. +358 40 5035 411, pekka.lemettinen@poppankki.fi 

 

Distribution:  

Nasdaq Helsinki Oy 
Main media 
www.poppankki.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. For Visa Credit related inquiries please contact Visa customer service. For Visa Debit related inquiries please contact your own POP Bank. You can find contact details for your own POP Bank at www.poppankki.fi.

Visa customer service

Tel. +358 (0)9 6964 6012

Card Block service (24H)

Tel. +358 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: Half-year report for 1 January - 30 June 2019

Bonum Bank Plc: Half-year report for 1 January - 30 June 2019 

Bonum Bank Plc Stock Exchange Release 16th August 2019 at 9.00 EET 


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.  

During H1 2019 Bonum Bank Plc continued to develop services in accordance with the amalgamation’s strategy. By developing the services, Bonum Bank Plc strives to strengthen the business operations and cost efficiency of the POP Group, enabling healthy and profitable growth. Bonum Bank’s role as the provider of services for the banks in the amalgamation has strengthened. The funding intermediated from Bonum Bank Plc to POP Banks intensified during the first half of the year. 

In May, S&P Global Ratings reiterated Bonum Bank Plc’s long-term rating as BBB (investment grade) and its short-term rating as A-2. The outlook remains stable. Bonum Bank is responsible for the wholesale funding of the POP Bank Group by issuing senior bonds and certificates of deposits. 

During the reporting period, the earnings of Bonum Bank Plc grew by 23.7 per cent with regards to the comparison period. Result of the period was EUR 264 thousand negative, whereas in the comparison period it was EUR 128 thousand negative. The bank’s balance sheet at the close of the period under review was EUR 588,536 (606,015) thousand. 

 

Key ratios (EUR 1,000) 

3Jun 2019 

30 Jun 2018 

31 Dec 2018 

 

Net interest income 

1,510  

1,104  

2,310 

 

Net commissions and fees 

3,239 

2,813 

6,235 

 

Profit 

-264  

-128 

192 

 

Balance sheet total 

558,536  

552,107 

606,015 

 

 

Capital adequacy ratio (TC), % 

33.7 

41.9 

43.7 

 

Cost-to-income ratio, % 

96.7 

100.6 

94.9 

 

ROA, % 

-0.09 

-0.05 

0.03 

 

ROE, % 

-1.66 

-0.80 

0.60 

 

Equity ratio, % 

5.4 

5.7 

5.2 

 

 

Further information: 

CEO Pia Ali-Tolppa, Bonum Bank Plc, Tel. +358 50 303 1476, pia.ali-tolppa@poppankki.fi 

Chairman of the board Pekka Lemettinen, POP Bank Alliance Coop, Tel. +358 40 5035 411, pekka.lemettinen@poppankki.fi 

 

Distribution:  

Nasdaq Helsinki Oy 
Main media 
www.poppankki.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