POP Mortgage Bank Plc: S&P Global Ratings revises Bonum Bank Plc’ outlook to positive and affirms ratings reflecting the wider POP Bank Group
POP Mortgage Bank Plc, Stock Exchange Release, 5 October 2023 at 14.45 EEST, Other information disclosed according to the rules of the Exchange
POP Mortgage Bank Plc: S&P Global Ratings revises Bonum Bank Plc’ outlook to positive and affirms ratings reflecting the wider POP Bank Group
S&P Global Ratings revised its outlook on the ratings on Bonum Bank Plc to positive from stable. At the same time, the credit rating agency affirmed 'BBB/A-2' long- and short-term issuer credit ratings on Bonum Bank Plc. The ratings on Bonum Bank reflect the franchise and creditworthiness of the wider POP Bank Group.
S&P Global Rating recognises the POP Bank Group's efforts to streamline its operations, alongside its broadened insurance offering while the Group’s profitability and cost efficiency have been improving. According to the credit agency POP Bank Group is in a good position to materially strengthen its earnings profile thanks to higher interest rates and its retail deposit-based funding structure.
Link to the S&P Global Ratings’ release published on 5 October 2023.
For further information, please contact:
Timo Hulkko, CEO of POP Mortgage Bank Plc, tel. +358 500 894 008
Tony Tötterström, Deputy CEO of POP Mortgage Bank Plc, tel. +358 50 530 6623
Distribution
Nasdaq Helsinki Ltd
Major media
www.poppankki.fi
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.
