Greetings from CEO

“During 2025, significant changes were implemented at OmaSp. Our determined work to strengthen risk management and clarify our processes also continued in the fourth quarter. At the same time, our core business developed as expected toward the end of the year despite the challenging operating environment, where in particular the labour market situation is weak and geopolitical tensions are causing additional uncertainty. 

The comparable profit before taxes for the fourth quarter of the year stood at EUR 17.2 (27.9) million. Profits continued to be weighed down by a decrease in net interest income and high operational costs. In the fourth quarter, the comparable ROE was 9.3 (15.6)%, and the comparable EPS was EUR 0.43 (0.67). 

The comparable cost-to-income ratio in the fourth quarter was 57.3 (47.7)%. Comparable operating expenses decreased by 5.7%, totalling EUR 30.5 (32.4) million; however, personnel expenses grew by 16.8% in the fourth quarter. Costs of approximately EUR 1 million related to risk management development projects and other assessment initiatives were recorded in the fourth quarter. 

Due to the shrinking loan portfolio, net interest income fell by 26.3% in the final quarter compared to the previous year, amounting to EUR 37.5 (50.9) million.

The mortgage loan portfolio decreased by 3.2% over the past 12 months and the SME customer portfolio by 19.9%. The SME customer loan portfolio fell particularly during the first half of the year; the reasons for the decline were exits from high-risk customer relationships, measures to advance the controlled winding down portfolio, and the discontinuation of several large customer relationships whose needs were considerable relative to the size of our Company.

The deposit portfolio decreased by 3.0% over the past 12 months, resulting from changes in deposits from individual SME customers. 

Compared to the previous year, net fee and commission income grew by 1.6% in the fourth quarter to stand at EUR 13.3 (13.1) million. Fee and commission income from lending, mutual fund savings and payment services increased in comparison to the reference period. 

Impairment losses on financial assets decreased by 26.2% in the fourth quarter and amounted to EUR -5.6 (-7.6) million. In the fourth quarter, provisions related to the controlled winding down portfolio remained at the level of the previous quarter.

In summer 2024, the Company announced that the controlled winding down portfolio related to non-compliance with the guidelines amounted to approximately EUR 240 million, representing around 4% of the Company’s loan portfolio. At the end of 2025, the size of the controlled winding portfolio stood at approximately EUR 180 million, representing 3.2% of the total loan portfolio. 

Satisfaction among key stakeholders provides strong foundation for strategy of growth

Customer satisfaction is one of the most important indicators of the Company’s success. In the customer survey conducted at the end of 2025, our Net Promoter Score (NPS) rose clearly from the previous year’s level to 40 (37).

Our reputation among the public also improved significantly during 2025. This is reflected in the latest Reputation & Trust survey for 2025, in which OmaSp’s reputation increased to a score of 3.42, clearly better than the industry average of 3.28. 

Our personnel are our most important resource. Our annual employee survey provides us with valuable information on job satisfaction and employee well-being, along with insights into how we are functioning as a work community. According to the employee survey conducted at the end of 2025, overall employee satisfaction was 4.15 out of a possible five. 

In the fourth quarter, our Company’s financial position continued to strengthen. The total capital ratio at year-end was 19.3 (15.6)%, and the Common Equity Tier 1 ratio stood at 18.3 (14.4)%. Equity at year-end totalled EUR 618.8 (576.1) million. Our liquidity position is strong, enabling responsible and profitable growth in line with our strategy. 

In January 2026, the Company’s Board of Directors approved the strategy and financial targets for the 2026–2029 period. OmaSp aims to be recognised and established nationwide as a bank that combines the highly personal service of a small bank with the reliability of a solid bank, supported by the efficiencies that a more unified operating model allows. We also aim to expand the Company’s fee- and commission-based business. 

The outlook for the Company's business in the financial year 2026 is affected by the general situation of the housing market and the impact of the market situation on the willingness of SMEs to invest in particular. With the decline in market interest rates and changes in the credit portfolio, net interest income will decrease compared to the previous financial year. For 2026, we expect a stable cost development, and we estimate that the impairment losses on financial assets will remain at a lower level than in the previous financial year. We estimate that the comparable profit before taxes for the financial year 2026 will decrease slightly from the comparison period. 

The year 2025 was a period of change for our Company and demonstrates our strong culture of execution. I would like to extend my warmest thanks to all our personnel for their professionalism and their ability to move our Company forward. I would also like to thank our customers for placing their trust in us as well as for the excellent cooperation that forms the foundation of our operations.”

Karri Alameri
CEO