In recent news, Oma Säästöpankki has announced that it has observed activity that went against its instructions, leading to an increase in credit risk. As a result, the Central Criminal Police (KRP) has launched a preliminary investigation into securities market crimes related to the bank, which is listed on the Helsinki stock exchange. This investigation was requested by the Financial Supervisory Authority based on their findings during routine supervision.
The Director of investigations, criminal inspector Lauri Pajunoja, stated that while the details of the suspected crimes or individuals involved have not been disclosed yet due to the investigation’s early stages, they are taking this matter seriously and will leave no stone unturned in their pursuit of justice. Additionally, the Financial Supervisory Authority announced that it will be examining the need for administrative sanctions against the bank and overseeing its operations to ensure proper management.
Oma Säästöpankki issued a profit warning in mid-April after discovering operations contrary to guidelines that had weakened its credit risk position with certain customer groups. The bank’s managing director, Pasi Sydänlammi, acknowledged the incident and stated that the bank had learned from its mistakes. The company stated that these issues stemmed from violations of lending guidelines resulting in incorrect formations of customer groups.
The problematic activities were concentrated in around three percent of Oma Säästöpankki’s credit portfolio equivalent to around €180 million in loans. However, Oma Säästöpankki has reassured the public that it is taking necessary steps to rectify the situation and prevent similar incidents from occurring in the future.