Bonum Bank Plc: POP Bank Group prepares for launch of mortgage credit bank business

POP Bank Centre coop, on behalf of the POP Bank Group, has started preparations for the launch of a mortgage credit bank business. POP Bank Centre coop is planning to apply, during Q1/2021 at the latest, for an authorization from the Financial Supervisory Authority to engage in mortgage credit bank business. The authorization would be applied for a credit institution to be incorporated. In preparation for applying for the authorization, a supplier of a mortgage credit bank operations and reporting system has been tendered and selected. The potential launch of mortgage credit bank business is estimated to take place later in 2021.

– As a part of the POP Bank Group’s growth strategy, introducing the mortgage credit bank during 2021 would be a fundamental development step. Through Bonum Bank we have already operated in the bond market, says CEO Pekka Lemettinen, CEO of POP Bank Centre coop.

The POP Bank Group refers to the new group structure created in 2015, comprised of POP Banks and POP Bank Centre coop as well as the entities under their control. The most significant companies in the POP Bank Group engaged in customer business are:

• 23 member cooperative banks of POP Bank Centre coop that use the marketing name POP Bank
• Bonum Bank Plc, which is the central credit institution of POP Banks and a subsidiary of POP Bank Centre coop
• Finnish P&C Insurance Ltd which uses the auxiliary business name POP Insurance. 
  
  

Further information:
Pekka Lemettinen, CEO, POP Bank Centre coop, tel. +358 40 503 5411, pekka.lemettinen@poppankki.fi

Distribution:
Nasdaq Helsinki Oy
Main media
www.poppankki.fi