OP Financial Group
Stock exchange release
16 August 2016 at 15.30 pm EEST
Correction to a table in the Note to OP Financial Group's Interim Report for 1 January-30 June 2016
Note 12: Receivables from credit institutions and customers, and doubtful receivables in the Interim Report published by OP Financial Group on 3 August 2016 contained incorrect information. The table of the Note with figures for 30 June 2016 showed incorrectly figures for 31 March 2016. The tables below show the correct figures.
| 30 June 2016, EUR million | Not impaired (gross) | Impaired (gross) | Total | Individual assessment of impairment | Collective assessment of impairment | Balance sheet value |
| Receivables from credit institutions and customers | ||||||
| Receivables from credit institutions | 430 | 430 | 2 | 428 | ||
| Receivables from customers, of which | 75,685 | 580 | 76,265 | 407 | 61 | 75,797 |
| bank guarantee receivables | 6 | 9 | 15 | 9 | 1 | 6 |
| Finance leases | 1,181 | 1,181 | 1,181 | |||
| Total | 77,296 | 580 | 77,876 | 407 | 62 | 77,406 |
| Receivables from credit institutions and customers by sector | ||||||
| Non-banking corporate sector | 26,341 | 420 | 26,761 | 323 | 32 | 26,406 |
| Financial institutions and insurance companies | 1,175 | 0 | 1,175 | 0 | 2 | 1,173 |
| Households | 48,407 | 154 | 48,561 | 81 | 27 | 48,453 |
| Non-profit organisations | 666 | 6 | 671 | 3 | 1 | 668 |
| Public sector entities | 707 | 707 | 0 | 707 | ||
| Total | 77,296 | 580 | 77,876 | 407 | 62 | 77,406 |
| Doubtful receivables, 30 June 2016, EUR million | Performing receivables from credit institutions and customers (gross) | Non-performing receivables from credit institutions and customers (gross) | Receivables from credit institutions and customers, total (gross) | Individually assessed impairment | Receivables from credit institutions and customers (net) |
| More than 90 days past due | 531 | 531 | 209 | 322 | |
| Unlikely to be paid | 467 | 467 | 151 | 316 | |
| Forborne receivables | 1,591 | 268 | 1,859 | 48 | 1,811 |
| Total | 1,591 | 1,266 | 2,857 | 407 | 2,450 |
| Key ratio, % | 30 June 2016 |
| Exposures individually assessed for impairment, % of doubtful receivables | 14.3% |
The corrected full Interim Report is appended to the release. It is also available at op.fi.
DISTRIBUTION
Nasdaq Helsinki Ltd
London Stock Exchange
SIX Swiss Exchange
Major media
op.fi and pohjola.fi
OP Financial Group is Finland's largest financial services group whose mission is to create sustainable prosperity, security and wellbeing for its owner-customers and in its operating region by means of its strong capital base and efficiency. OP Financial Group consists of about 180 member cooperative banks, its central cooperative OP Cooperative, and the latter's subsidiaries and affiliates. The Group has a staff of 12,000 and approximately 1.7 million owner-customers and 4.3 million customers. www.op.fi
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: OP Yrityspankki Oyj via Globenewswire
