OP Financial Group upgrades its earnings outlook for 2024

OP Financial Group
Inside information
Stock exchange release 15 August 2024 at 14:00 EEST

Inside information, positive profit warning: OP Financial Group upgrades its earnings outlook for 2024

In its half-year financial report published on 24 July 2024, OP Financial Group expected its operating profit for 2024 to be at a good level but lower than that for 2023.

In 2023, OP Financial Group's operating profit was EUR 2,050 million. OP Financial Group now expects its operating profit for 2024 to be at the same level as in 2023.

This estimate is based on better-than-expected developments in income from investment activities and impairment loss on receivables during the current year. Earnings performance continues to be affected by major uncertainty. The most significant uncertainties affecting OP Financial Group's earnings performance are associated with developments in the business environment, changes in the interest rate and investment environment and developments in impairment loss on receivables.

OP Financial Group's Interim Report for 1 January–30 September 2024 will be published on 31 October 2024.

OP Corporate Bank plc
OP Cooperative
Piia Kumpulainen
Chief Communications Officer

Additional information:
OP Financial Group’s Investor Relations, [e-mail]

Media enquiries:
OP Financial Group’s Corporate Communications, tel. [phone], [e-mail]

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OP Financial Group is Finland’s largest financial services group, with more than two million owner-customers and over 14,000 employees. We provide a comprehensive range of banking and insurance services for personal and corporate customers. OP Financial Group consists of OP cooperative banks, its central cooperative OP Cooperative, and the latter's subsidiaries and affiliates. Our mission is to promote the sustainable prosperity, security and wellbeing of our owner-customers and operating region. Together with our owner-customers, we have been building Finnish society and a sustainable future for 120 years now. www.op.fi