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.

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

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