Bonum Bank Plc, Stock Exchange Release, 25 May 2023 at 12.30 P.M. EEST, Other information disclosed according to the rules of the exchange 

Bonum Bank Plc: Authorities have approved POP Bank Group’s sale of Finnish P&C Insurance Ltd to LocalTapiola

Finnish Competition and Consumer Authority and the Financial Supervisory Authority have approved the agreement which POP Bank Group and LocalTapiola have signed on March 14, 2023 to sell POP Bank Group’s majority shareholding of 70 per cent in Finnish P&C Insurance Ltd to LocalTapiola. 

Finnish P&C Insurance Ltd will come a part of LocalTapiola Group. The company continue to operate as an independent company and the transaction has no immediate effect on customers or the products of the Finnish P&C Insurance Ltd that is also known for its brand POP Vakuutus. POP Bank Group continue to own 30 per cent of the company’s outstanding shares.

The transaction has a significant positive impact on POP Bank Group’s performance in the financial year 2023. The transaction will have no impact on Bonum Bank Plc’s performance. 

Bonum Bank Plc

Further information:

Jaakko Pulli, CEO, POP Bank Centre coop and Chair of the Board, Bonum Bank Plc via Maija Hyötyläinen, Communication Manager, POP Bank Centre coop, tel. +358 050 572 9679, email: maija.hyotylainen@poppankki.fi

Distribution: 
Nasdaq Helsinki
Main Media
www.poppankki.fi

Bonum Bank Plc is part of the amalgamation of POP Banks and is responsible for providing POP Banks' 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.