OP’s local corporate banking services in the Baltics

A multi-currency account is a flexible basic account for your company, which may include a credit limit and payment transaction services needed for daily banking. It pays to open a multi-currency account if you want to collect incoming payments or pay purchase invoices or, say, wages, on a local basis. It is worth noting that intranational payments within each country transfer at the same day’s value. 

You can do foreign exchange transactions easily between sub-accounts up to 50,000-euro equivalent. The main currency of the account is the euro but no-euro and non-SEPA payments can also be received in the account. Manage the account easily through NetBank or a Finnish bank connection software.

A multicurrency account offers an efficient method of concentrating liquidity because all of your company’s funds in multiple currencies are in the same account.  Automate liquidity concentration through the sweeping service by agreeing on the criteria on the basis of which automatic account transfers are made to concentrate liquidity on the account of an OP cooperative bank in Finland or in the Baltic country of your choice. This automatic liquidity concentration can be performed on a daily, weekly or monthly basis.

Invest surplus cash in Estonia, Latvia or Lithuania in term deposits, for example.

Lease is a great way to finance purchases of equipment and other assets by using the leased asset as collateral.  Lease means a long-term rental, i.e. purchased equipment is owned by the bank and the bank leases it to your company for an agreed term against a lease payment.

Typical assets acquired under finance lease include company cars, IT and other office equipment, power tools and production machinery as well as industrial machinery and equipment.

The agreed lease term is based on the asset’s estimated useful life and lifecycle. You can allocate the related costs over a longer period with no capital tied up as opposed to owning the asset. In particular, companies operating in capital intensive industries and using fast-changing technologies benefit from lease.

With vendor financing, your company can reduce its risks and boost its sales and competitiveness by providing its customers with a diverse range of financing and payment options. After the customer’s credit application has been approved, your company will receive its money back quickly and the credit risk will transfer to OP. We tailor our vendor financing solutions to your specific needs and brand.

Investments are needed for enabling business development and growth in the Baltic countries. Long-term debt financing is well suited for corporate investments.

Our factoring solutions will boost your company’s credit control and enable hedging against buyer risk by using credit insurance in Finland as well as abroad. In addition, your company saves money as you don’t need to produce services in-house. This is how factoring frees resources for your company’s core businesses.

Is your company in need of working capital? Income and expenses, payables and receivables seldom concur. Working capital is needed to secure a company's liquidity and for other short-term purposes. It is possible to temporarily substitute insufficient working capital for a variety of financing products provided by the bank, such as an account with credit facility or debt financing.

Bank guarantees are a convenient way to attend to your company’s needs for collateral – the bank issues a guarantee commitment on your company’s behalf in favour of your domestic or foreign contractual partner (beneficiary), under which the bank as guarantor is committed to monetary compensation for the fulfilment of your company’s contractual obligation.  From your contractual partner’s perspective, receiving and managing a bank guarantee is easy.

Special bank guarantee features in each country are part of our expertise and a limit can be established to meet your company’s regular needs for guarantee.

Our Trade Finance specialists tailor solutions for export and import trade risk management and financing that suit your company’s needs.