OP Corporate Bank plc's Interim Report 1 January–31 March 2026

OP Corporate Bank plc
Interim Report 1 January–31 March 2026
Stock Exchange Release 6 May 2026 at 9.00 am EEST

OP Corporate Bank plc's Interim Report 1 January–31 March 2026

• Operating profit decreased to EUR 138 million (140).
• Total income grew by 2% to EUR 219 million (215). Net interest income grew by 8% to EUR 150 million (139). Investment income decreased to EUR 31 million (42). Net commissions and fees grew by 38% to EUR 23 million (17). Other operating expenses decreased by 15% to EUR 15 million (17).
• Impairment loss on receivables came to EUR 3 million (1). Non-performing exposures decreased and were 0.9% of exposures (1.4).
• Operating expenses increased to EUR 77 million (73). The cost/income ratio was 35.5% (34.1).
• The loan portfolio grew by 2% to EUR 28.8 billion (28.2) year on year. The deposit portfolio increased by 3% year on year, to EUR 16.5 billion (16.0).
• OP Corporate Bank is in charge of OP Pohjola's wholesale funding together with OP Mortgage Bank.
• The Corporate Banking and Capital Markets segment's operating profit decreased by 19% to EUR 70 million (86). Net interest income decreased by 5% to EUR 73 million (76). Net commissions and fees increased to EUR 8 million (1). Investment income decreased to EUR 28 million (40). Operating expenses increased by 7% to EUR 33 million (31). Impairment loss on receivables came to EUR 8 million (3). The cost/income ratio was 30.0% (25.8).
• The Asset and Sales Finance Services and Payment Transfers segment's operating profit decreased by 9% to EUR 44 million (49). Net interest income decreased to EUR 47 million (55). Net commissions and fees totalled EUR 13 million (14). Operating expenses decreased by 2% to EUR 28 million (29). Impairment loss on receivables reversed came to EUR 6 million (2). The cost/income ratio was 42.5% (38.3).
• The Baltics segment's operating profit decreased to EUR 7 million (9). Net interest income grew by 6% to EUR 16 million (15). Net commissions and fees totalled EUR 3 million (2). Operating expenses increased by 18% to EUR 10 million (9). The cost/income ratio weakened to 54.2% (49.2).
• The Group Functions segment's operating profit was EUR 17 million (-3). OP Pohjola's funding position and liquidity remained strong.
• CET1 ratio increased to 14.3% (14.1), which exceeds the minimum regulatory requirement by 5.4 percentage points.
  
  

OP Corporate Bank's key indicators

€ million	Q1/2026	Q1/2025	Change, %	Q1–4/2025
Operating profit (loss), € million	138	140	-1.4	559
Corporate Banking and Capital Markets	70	86	-18.8	343
Asset and Sales Finance Services and Payment Transfers	44	49	-8.6	184
Baltics	7	9	-18.7	38
Group Functions	17	-3	—	-7
Total income	219	215	1.9	833
Total expenses	-77	-73	5.8	-306
Cost/income ratio, %*	35.5	34.1	1.3	36.8
Return on equity (ROE), %*	8.5	9.2	-0.7	8.6
Return on assets (ROA), %*	0.6	0.6	0.0	0.6
	31 Mar 2026	31 Mar 2025	Change, %	31 Dec 2025
CET1 ratio, %*	14.3	13.8	0.5	14.1
Loan portfolio, € million	28,776	28,234	1.9	29,079
Guarantee portfolio, € million	2,704	2,735	-1.1	2,662
Other exposures, € million	5,579	5,389	3.5	5,579
Deposits, € million	16,479	16,031	2.8	16,987
Ratio of non-performing exposures to exposures, %*	0.9	1.6	-0.7	1.4
Ratio of impairment loss on receivables to loan and guarantee portfolio, %*	0.04	0.02	0.02	-0.10

Comparatives for the income statement items are based on the corresponding figures in 2025. Unless otherwise specified, figures from the end of 2025 are used as comparatives for balance-sheet and other cross-sectional items.
* Change in ratio, percentage point(s).

Shareholder's decisions 

Matters within the remit of OP Corporate Bank's AGM were decided on the shareholder's decision on 26 March 2026.

OP Pohjola's President and Group Chief Executive Officer Timo Ritakallio was re-elected as Chair of OP Corporate Bank's Board of Directors. As other Board members, the AGM elected OP Uusimaa Managing Director Olli Lehtilä, OP Turun Seutu Managing Director Petri Rinne, OP Pohjola's Chief Financial Officer Mikko Timonen and OP Pohjola's Chief People and Culture Officer Hannakaisa Länsisalmi. Hanna Porkka, OP Pohjola's Executive Vice President of Wealth Management, was appointed as a new Board member. Mika Kivimäki's term of office on the Board of Directors ended on 26 March 2026. 

Based on the shareholder's decision, PricewaterhouseCoopers Oy, an audit firm, was elected as the auditor for the financial year 2026. Lauri Kallaskari, Authorised Public Accountant, acts as the chief auditor appointed by PricewaterhouseCoopers Oy.

Katja Keitaanniemi, Lic.Sc. (Tech.), Executive Vice President of OP Pohjola's Corporate Banking business, has acted as OP Corporate Bank's CEO since 6 August 2018. Jari Jaulimo, LL.M., Trained on the bench, MBA, Head of Transaction Banking, has acted as deputy to the EVP and CEO since 1 August 2020.

A shareholder's decision confirmed the 2025 Financial Statements, and the Board members and CEO were discharged from liability. A decision was made to distribute a total of EUR 131,000,000.00 of dividend, or EUR 0.41 per share. After dividend distribution, it was decided that the remaining amount of EUR 306,341,897 will be recognised under retained earnings/losses. Following dividend distribution, the company's distributable earnings totalled EUR 3,678,738,917 and its distributable funds total EUR 4,010,119,753.

Schedule for financial reports for 2026

Half-year Financial Report 1 January–30 June 2026	23 July 2026
Interim Report 1 January–30 September 2026	27 October 2026

For additional information, please contact:

Katja Keitaanniemi, CEO, tel. +358 10 252 1387
Piia Kumpulainen, Chief Communications Officer, tel. +358 10 252 7317

DISTRIBUTION

Nasdaq Helsinki Oy
Euronext Dublin (Irish Stock Exchange)
LSE London Stock Exchange
Major media
op.fi

OP Corporate Bank plc is part of OP Pohjola, Finland’s largest provider of financial services. OP Corporate Bank and OP Mortgage Bank are responsible for OP's funding in money and capital markets. As laid down in the applicable law, OP Corporate Bank, OP Mortgage Bank and their parent company OP Cooperative and other OP Pohjola member credit institutions are ultimately jointly and severally liable for each other's debts and commitments. OP Corporate Bank acts as OP Pohjola's central bank.

Attachment

• OP Corporate Bank plc's Interim Report Q1 2026