The Coronavirus Pandemic adds uncertainty to the financial results of Bonum Bank Plc and POP Bank Group

Bonum Bank Plc
Inside Information
Stock Exchange Release 9 April 2020 at 10.15

 

The Coronavirus Pandemic adds uncertainty to the financial results of Bonum Bank Plc and POP Bank Group

 

The worldwide crisis caused by the coronavirus pandemic has weakened the global economic outlooks. Uncertainty in the operational environment of Bonum Bank Plc has increased, especially with regards to the predictability of funding available in the capital markets and the future development of impairment of unsecured consumer loans. It is still too early to reliably estimate the overall effects. Previously Bonum Bank Plc has estimated a positive result for the entire financial year. Bonum Bank Plc will clarify the outlook for the second half of the financial year upon the release of the half-year financial report on 18 August 2020.

Uncertainty has also increased concerning the 2020 result of the POP Bank Group. Market volatility is high and estimated to lower the net investment income. Effects of the pandemic may also decrease the interest and commission income and increase the impairment of loans. As the situation continues to evolve, it is difficult to reliably estimate the overall effects of the coronavirus pandemic to the result of POP Bank Group. The management of POP Bank Group has previously estimated that in 2020 the result of the Group will be weaker than in 2019.

 

 

Further information:

CEO Pekka Lemettinen, POP Bank Alliance Coop
Tel: +358 40 5035 411, email: pekka.lemettinen@poppankki.fi

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

 

Distribution:
Nasdaq Helsinki
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

The Coronavirus Pandemic adds uncertainty to the financial results of Bonum Bank Plc and POP Bank Group

Bonum Bank Plc
Inside Information
Stock Exchange Release 9 April 2020 at 10.15

 

The Coronavirus Pandemic adds uncertainty to the financial results of Bonum Bank Plc and POP Bank Group

 

The worldwide crisis caused by the coronavirus pandemic has weakened the global economic outlooks. Uncertainty in the operational environment of Bonum Bank Plc has increased, especially with regards to the predictability of funding available in the capital markets and the future development of impairment of unsecured consumer loans. It is still too early to reliably estimate the overall effects. Previously Bonum Bank Plc has estimated a positive result for the entire financial year. Bonum Bank Plc will clarify the outlook for the second half of the financial year upon the release of the half-year financial report on 18 August 2020.

Uncertainty has also increased concerning the 2020 result of the POP Bank Group. Market volatility is high and estimated to lower the net investment income. Effects of the pandemic may also decrease the interest and commission income and increase the impairment of loans. As the situation continues to evolve, it is difficult to reliably estimate the overall effects of the coronavirus pandemic to the result of POP Bank Group. The management of POP Bank Group has previously estimated that in 2020 the result of the Group will be weaker than in 2019.

 

 

Further information:

CEO Pekka Lemettinen, POP Bank Alliance Coop
Tel: +358 40 5035 411, email: pekka.lemettinen@poppankki.fi

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

 

Distribution:
Nasdaq Helsinki
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