contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Sauli Vilén

Matias Arola

Oma Savings Bank is a Finnish bank that serves private and corporate customers nationwide through its branch offices and digital service channels. The company focuses primarily on retail banking operations and provides its clients banking services through its own balance sheet as well as by acting as an intermediary for its partners' products, such as credit, investment, and loan insurance products. OmaSp is also engaged in mortgage banking operations.

I reviewed all the foundation reports available on the site, and not a single auditor had made any remarks regarding the matter. Furthermore, it turned out that two different foundations even share the same auditor.

Quite a lot seems to be turning up from that nest. I wonder if the foundations have acted in accordance with their rules and the Foundations Act when they granted the bank’s board members massive indemnity agreements. I don’t believe that granting such guarantees falls within the scope of foundation activities, nor is it likely in accordance with the Foundations Act. Guarantees have been granted on behalf of individuals unaffiliated with the foundations. There would be work here for investigative journalism and the authority supervising foundations. I wonder what the stance of the foundations’ auditors has been? Have they stated anything in their audit reports? Once again, we see how the affairs of “ownerless money” are managed. A few individuals are running a roulette in a state of total ignorance; this has been a perpetual nuisance and problem in savings bank communities, which has led to a poor outcome. The OmaSp structure is a sick system that should be completely dismantled and its operations shut down.

The annual reports of the five largest owner foundations of Oma SP have now been unearthed, revealing that the foundations had agreed among themselves on a 10 million euro protection commitment for the bank’s board. The full article, with the original foundation annual reports available for download at the end:                   Yirah.fi              Viiden säätiön sopimus: Kuinka OmaSp:n omistajat suojasivat hallituksen ja...    Oma Säästöpankin viisi suurinta omistajasäätiötä allekirjoittivat 23.5.2024 yhteensä noin 10 miljoonan euron suojasitoumuksen pankin hallituksen jäsenille. Tasan 27 päivää myöhemmin toimitusjohtaja Pasi Sydänlammi erotettiin. Samana keväänä säätiöt...                             Quoting from the article: ”In the 2024 financial statements of three foundations, the protection commitment is reported as an off-balance sheet liability. The financial statement of the South Karelia Savings Bank Foundation (Etelä-Karjalan Säästöpankkisäätiö) states: "A commitment given by the five largest owner foundations to the members of the board of Oma Säästöpankki Oyj, the purpose of which is to expand the management’s liability insurance and to commit the board members. The commitment is not joint and several, and the amount presented here is the maximum amount of the South Karelia Savings Bank Foundation sr’s liability."

The old wisdoms and facts from the banking sector have always held true. It is regrettable that Omasp’s board failed to grasp this, instead allowing management free rein to boast about their success and their customer-centric, effective operating model, which consequently attracted all high-risk customers. In its ignorance, the administration also handsomely rewarded those “charlatans.” Typical of savings banks, Omasäästöpankki has also suffered from an amateurish and seemingly ignorant administration. Moreover, the foundations, as owners, have appointed pleasant amateurs to remunerated board positions, thus contributing to the genesis of these problems. The only “professionals” were in management, but even they operated in the wrong way, as has been demonstrated.

It’s again now, regarding the individuals in question, that they are being prosecuted over “coins”… From memory, the deals have been small, especially when compared to the millions with which the Pasis have played “roulette” in the house in question. Liiri’s actions would also be interesting; he has, however, known quite a lot…

Three former OmaSp board members to be charged | Ilkka-Pohjalainen There’s the link, probably a paywall at some point. I’ll quote the names from the article:  The accused are Aila Hemminki, Jyrki Mäkynen, and Jaana Sandström.   The prosecutor also made decisions not to prosecute at the same time. Heli Korpinen, Jarmo Salmi, and Kari Mononen were cleared of suspicion.

Ilkka-Pohjalainen reported that three former board members will be charged with insider trading.

Oma Säästöpankki

The Q2 result exceeded our expectations clearly and the report again strengthened our confidence in the company’s earnings growth outlook in the next few years. We have revised our estimates...

<p>The Q2 result exceeded our expectations clearly and the report again strengthened our confidence in the company’s earnings growth outlook in the next few years. We have revised our estimates upwards after the Q2 result and see that the strong earnings growth still offers investors a very attractive return expectation.</p> 

	2020	21e	22e
Operating income	111.1	154.7	136.0
growth-%	20.0 %	39.3 %	-12.1 %
EBIT (adj.)	26.7	54.9	55.8
EBIT-% (adj.)	24.0 %	35.5 %	41.0 %
EPS (adj.)	0.73	1.43	1.45
Dividend	0.30	0.35	0.40
Dividend %	2.8 %	2.8 %	3.2 %
P/E (adj.)	14.5	8.9	8.7
EV/EBITDA	94.8	51.2	92.5

OmaSp: Convincing performance

Key Estimate Figures02.08.2021

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