POP Mortgage Bank Plc's Financial Statements Release 1 January 31 - December 2024

POP Mortgage Bank Plc's Financial Statements Release 1 January 31 - December 2024

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 POP Mortgage Bank Plc decided to increase the amount of the covered bond program from EUR 1 billion to EUR 1.5 billion. In October 2024, POP Mortgage Bank Plc issued a third EUR 250 million bond under its programme.

POP Mortgage Bank Plc recorded a profit of EUR 0.6 (0.1) million for the financial year. The balance sheet totalled EUR 798.3 (544.3) million at the end of the reporting period. POP Mortgage Bank Plc’s capital ratio 31 December 2024 was 212.7 (231.6) 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 is available on the bank’s website www.poppankki.fi/en. POP Mortgage Bank Plc will publish the report of the Board of Directors and financial statements report along with corporate governance report during week 11.

POP Mortgage Bank Plc's Financial Statements Release 1 January 31 - December 2024

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
https://www.poppankki.fi/en

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