POP Mortgage Bank Plc: Financial Statements Release 1 January 31 - December 2023
POP Mortgage Bank Plc, Stock exchnage release 15 february 2024 at 10.00 AM Financial Statements Release
POP Mortgage Bank Plc: Financial Statements Release 1 January 31 - December 2023
POP Mortgage Bank Plc is responsible for acquiring external funding for the amalgamation of POP Banks in cooperation with Bonum Bank Plc. POP Mortgage Bank is responsible for issuing secured bonds and forwarding the acquired funding to member credit institutions of the amalgamation of POP Banks.
During the financial year, in April 2023, POP Mortgage Bank Plc issued another EUR 250 million bond under its EUR 1 billion covered bond programme. The first issue was in September 2022.
POP Mortgage Bank Plc recorded a profit of EUR 0.1 (-1.4) million for the financial year. The balance sheet totaled EUR 544.3 (268.3) million at the end of the reporting period. POP Mortgage Bank Plc’s capital ratio at 31 December 2023 was 231.6 (307.1) per cent.
POP Mortgage Bank’s operations are based on the intermediary loan model. Thus, the mortgage-backed loan portfolio provided as collateral for bonds to be issued is not recognised on POP Mortgage Bank’s balance sheet. Instead, it remains on each member credit institution’s balance sheet.
POP Mortgage Bank’s capital adequacy is expected to stay at a high level and the quality of the collateral for the issued bonds is expected to be good.
POP Mortgage Bank Plc’s finance statements release, and corporate governance report are available on the bank’s website www.poppankki.fi.
POP Mortgage Bank Plc will publish the report of the Board of Directors and financial statements report during week 11.
POP Mortgage Bank Plc
Further information:
Timo Hulkko, CEO, POP Mortgage Bank Plc, Tel: +358 50 089 4008, timo.hulkko@poppankki.fi
Distribution:
Nasdaq Helsinki Oy
Main Media
POP Mortgage Bank Plc is a subsidiary wholly owned by POP Bank Centre coop and it also belongs to amalgamation of POP Banks. POP Mortgage Bank Plc is responsible for the POP Bank Group's secured funding by issuing covered bonds.
