OP Financial Group’s key indicators
|
|
Q1–3/2024 |
Q1–3/2023 |
Change, % |
Q1–4/2023 |
|
Operating profit, € million |
1,948 |
1,570 |
24.1 |
2,050 |
|
Retail Banking |
1,037 |
919 |
12.8 |
1,223 |
|
Corporate Banking |
418 |
321 |
30.3 |
408 |
|
Insurance |
458 |
298 |
53.6 |
414 |
|
Group Functions |
4 |
-2 |
- |
-26 |
|
New OP bonuses accrued to owner-customers, |
-233 |
-204 |
14.1 |
-275 |
|
Total income** |
3,650 |
3,304 |
10.5 |
4,520 |
|
Total expenses |
-1,629 |
-1,564 |
4.2 |
-2,201 |
|
Cost/income ratio, %** |
44.6 |
47.3 |
-2.7* |
48.7 |
|
Return on equity (ROE), % |
12.3 |
11.1 |
1.2* |
10.6 |
|
Return on equity, excluding OP bonuses, % |
13.7 |
12.5 |
1.2* |
12.0 |
|
Return on assets (ROA), % |
1.30 |
1.02 |
0.29* |
0.98 |
|
Return on assets, excluding OP bonuses, % |
1.46 |
1.15 |
0.31* |
1.11 |
|
|
30 Sep 2024 |
30 Sep 2023 |
Change, % |
31 Dec 2023 |
|
CET1 ratio, % |
21.4 |
19.1 |
2.3* |
19.2 |
|
Loan portfolio, € billion |
98.0 |
98.9 |
-1.0 |
98.9 |
|
Deposits, € billion |
76.2 |
72.6 |
5.0 |
74.5 |
|
Ratio of non-performing exposures to exposures, % |
2.91 |
2.73 |
0.18* |
2.94 |
|
Ratio of impairment loss on receivables to loan and guarantee portfolio, % |
0.10 |
0.22 |
-0.13* |
0.26 |
|
Owner-customers (1,000) |
2,107 |
2,083 |
1.2 |
2,094 |
Comparatives for the income statement are based on the corresponding figures in 2023. Unless otherwise specified, figures from 31 December 2023 are used as comparatives for balance-sheet and other cross-sectional items.
* Change in ratio, percentage point(s).
** OP bonuses to owner-customers, which were previously shown on a separate line in the income statement, have been divided under the following items based on their accrual: interest income, interest expenses, and commission income from mutual funds. The line 'OP bonuses to owner-customers' is no longer shown in the income statement. Comparative information has been adjusted accordingly. For more detailed information on the change, see Note 1 to the Half-year Financial Report 1 January–30 June 2024, Accounting policies and changes in accounting policies and presentation.
Strategic targets
|
|
30 Sep 2024 |
31 Dec 2023 |
Long-term target |
|
Return on equity (ROE excluding OP bonuses), % |
13.7 |
12.0 |
9.0 |
|
CET1 ratio, % |
21.4 |
19.2 |
At least |
|
Brand recommendations, bNPS (Net Promoter Score, personal and corporate customers)** |
Banking: 1 |
Banking: 1 |
Banking: 1 |
|
Insurance: 2 (shared) |
Insurance: 3 |
Insurance: 1 |
|
|
Credit rating |
AA-/Aa3 |
AA-/Aa3 |
At least at the |
* OP Financial Group's target CET1 ratio is at least the CET1 capital adequacy requirement plus four percentage points. The CET1 target calculated by applying the September 2024 end capital adequacy requirement was 17.4%.
** Ranking in the survey on switching bank and insurer by Kantar Finland Oy and in a nationwide survey on SMEs by Red Note Oy.