Bonum Bank Plc: Board of Directors’ Report and Financial Statements 1 January - 31 December 2019

Stock Exchange Release
 

Bonum Bank Plc: Board of Directors’ Report and Financial Statements 1 January - 31 December 2019

 
Bonum Bank Plc Stock Exchange Release 13th February 2020 at 8:30 CET 
 
During the financial year 2019 Bonum Bank Plc continued to develop services and products in accordance with the amalgamation’s strategy. The purpose of Bonum Bank’s internal service production is to limit the group’s dependence on external service providers and enhance the efficiency of the whole group’s cost structure. In its external business operations, the Bank provides services that supplement group’s offering. Bonum Bank’s role as the provider of services for the banks in the amalgamation has strengthened. 
S&P Global Ratings affirmed Bonum Bank’s rating of BBB for long-term investment grade and A-2 for short-term investment grade in May. Bonum Bank Plc is responsible for the wholesale funding of the POP Bank Group by issuing senior bonds and certificates of deposits. The funding intermediated from Bonum Bank Plc to POP Banks has considerably diversified during the year.
Bonum Bank is actively seeking new business opportunities to supplement the group’s product offering.  For POP Pikalaina, unsecured consumer credit launched at the end of 2018, the year 2019 was very favourable as sales of the product exceeded the targets set for the year.
The profit for the financial year increased to EUR 242 thousand (EUR 192 thousand). Balance sheet totaled to EUR 558,631 thousand (EUR 606,015 thousand). 
Key Ratios (EUR 1,000) 31 Dec 2019  31 Dec 2018 
 Net interest income  4,196  2,310
 Net commissions and fees  7,064  6,235
 Result for the period  242  192
 Balance sheet total  588,631  606,015
 Common equity Tier 1 capital ratio (CET 1) %  29.7  43.7
 Cost-to-income ratio, %  84.6  94.9
 ROA, %  0.04  0.03
 ROE, %  0.76  0.60
 Equity ratio, %  5.5  5.2
Board of directors report and Financial Statements 

Bonum Bank Plc is part of the amalgamation of POP Banks and is responsible for providing 26 POP Bank central credit institution services, obtaining external funding for the POP Bank Group, handling payments and issuing payment cards to the customers of the POP Banks. In addition, Bonum Bank grants unsecured consumer credits and secured debt securities to retail customers.
 
Further information:
Pia Ali-Tolppa, CEO, Bonum Bank Plc, Tel. +358 50 303 1476, pia.ali-tolppa@poppankki.fi
Pekka Lemettinen, Chair of the Board, Tel. +358 40 503 5411, 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: Board of Directors’ Report and Financial Statements 1 January - 31 December 2019

Stock Exchange Release
 

Bonum Bank Plc: Board of Directors’ Report and Financial Statements 1 January - 31 December 2019

 
Bonum Bank Plc Stock Exchange Release 13th February 2020 at 8:30 CET 
 
During the financial year 2019 Bonum Bank Plc continued to develop services and products in accordance with the amalgamation’s strategy. The purpose of Bonum Bank’s internal service production is to limit the group’s dependence on external service providers and enhance the efficiency of the whole group’s cost structure. In its external business operations, the Bank provides services that supplement group’s offering. Bonum Bank’s role as the provider of services for the banks in the amalgamation has strengthened. 
S&P Global Ratings affirmed Bonum Bank’s rating of BBB for long-term investment grade and A-2 for short-term investment grade in May. Bonum Bank Plc is responsible for the wholesale funding of the POP Bank Group by issuing senior bonds and certificates of deposits. The funding intermediated from Bonum Bank Plc to POP Banks has considerably diversified during the year.
Bonum Bank is actively seeking new business opportunities to supplement the group’s product offering.  For POP Pikalaina, unsecured consumer credit launched at the end of 2018, the year 2019 was very favourable as sales of the product exceeded the targets set for the year.
The profit for the financial year increased to EUR 242 thousand (EUR 192 thousand). Balance sheet totaled to EUR 558,631 thousand (EUR 606,015 thousand). 
Key Ratios (EUR 1,000) 31 Dec 2019  31 Dec 2018 
 Net interest income  4,196  2,310
 Net commissions and fees  7,064  6,235
 Result for the period  242  192
 Balance sheet total  588,631  606,015
 Common equity Tier 1 capital ratio (CET 1) %  29.7  43.7
 Cost-to-income ratio, %  84.6  94.9
 ROA, %  0.04  0.03
 ROE, %  0.76  0.60
 Equity ratio, %  5.5  5.2
Board of directors report and Financial Statements 

Bonum Bank Plc is part of the amalgamation of POP Banks and is responsible for providing 26 POP Bank central credit institution services, obtaining external funding for the POP Bank Group, handling payments and issuing payment cards to the customers of the POP Banks. In addition, Bonum Bank grants unsecured consumer credits and secured debt securities to retail customers.
 
Further information:
Pia Ali-Tolppa, CEO, Bonum Bank Plc, Tel. +358 50 303 1476, pia.ali-tolppa@poppankki.fi
Pekka Lemettinen, Chair of the Board, Tel. +358 40 503 5411, 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