EIB and Oma Savings Bank Plc sign new support for Finnish SMEs

EUR 20m multi-beneficiary intermediated loan in support of local SMEs.

Oma Savings Bank Plc (OmaSp) of Finland has signed a EUR 20m loan agreement with the European Investment Bank (EIB). The financing will be on-lent against favourable rates to local parties, with a focus on small and medium-sized enterprises (SMEs) and agricultural entrepreneurs.

Vice-President Alexander Stubb, responsible for EIB operations in Northern European countries, said: “The geographical presence of OmaSp in Finland ensures that European support can reach those beneficiaries that may previously have had a hard time securing financing for their projects. The EIB Group has worked with OmaSp under the SME initiative, so we’re very confident that this first direct financing will work smoothly to bring benefits to local SMEs and mid-caps.”

”Great co-operation with EIB will improve our competitiveness and will give us access to finance our business customers with favourable conditions. Small and medium-sized enterprises (SMEs) are a significant part of our growing customer base in Finland”, said Pasi Sydänlammi, CEO of OmaSp.

OmaSp has a balance of EUR 2,7bn and it has become a major financial player in Finland.

Press contact:
EIB: Tim Smit, +352 691 286423, t.smit@eib.org – Twitter and Instagram OmaSp: Minna Sillanpää, +358 50 66 592, minna.sillanpaa@omasp.fi

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. In 2017 alone, the Bank made available nearly EUR 1.3bn in loans for Finnish projects

Oma Savings Bank Plc is a Finnish bank and Finland’s largest savings bank. We serve over 135,000 customers with 250 experts across 39 branches all over Finland. It is a financially sound bank with some of the best profitability levels in the industry. Its good results are passed on to the local community via its owner’s foundations and co-operatives. Our goal is to offer the best banking service in town for all daily financial matters both via branches and digital service channels. Local and close omasp.fi