OP Corporate Bank plc's Interim Report 1 January-30 September 2025

OP Corporate Bank plc
Interim Report 1 January-30 September 2025
Stock Exchange Release 28 October 2025 at 9.00 am EET

OP Corporate Bank plc's Interim Report 1 January-30 September 2025

• OP Corporate Bank plc's operating profit increased by 32% to EUR 442 million (336).
• Total income grew by 9% to EUR 621 million (568). Net interest income grew by 10% to EUR 427 million (387). Investment income totalled EUR 103 million (102). Net commissions and fees decreased by 3% to EUR 51 million (53). Other operating income increased by 58% to EUR 41 million (26).
• Impairment loss on receivables reversed came to EUR 39 million. A year ago, impairment loss on receivables totalled EUR 15 million.
• Total operating expenses remained at the previous year's level at EUR 218 million (217). The cost/income ratio improved to 35% (38).
• The loan portfolio grew by 4.3% to EUR 28.7 billion (27.5) year on year. The deposit portfolio decreased by 1.0% year on year to EUR 16.1 billion (16.2).
• OP Corporate Bank plc belongs to OP Financial Group, which changed its name to OP Pohjola, effective as of 28 October 2025. 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 increased by 24% to EUR 268 million (216). Net interest income grew by 14% to EUR 237 million (207). Net commissions and fees increased to EUR 4 million (3). Investment income totalled EUR 97 million (99). Operating expenses increased by 5% to EUR 93 million (88). Impairment loss on receivables reversed came to EUR 17 million. A year ago, impairment loss on receivables totalled EUR 9 million. The cost/income ratio improved to 27% (28).
• The Asset and Sales Finance Services and Payment Transfers segment's operating profit increased by 23% to EUR 152 million (123). Net interest income was EUR 161 million (162). Net commissions and fees decreased to EUR 43 million (44). Operating expenses decreased by 3% to EUR 85 million (88). Impairment loss on receivables reversed came to EUR 20 million. A year ago, impairment loss on receivables totalled EUR 9 million. The cost/income ratio was 39% (40).
• The Baltics segment's operating profit decreased to EUR 29 million (31). Net interest income grew by 6% to EUR 46 million (44). Net commissions and fees totalled EUR 8 million (8). Operating expenses increased by 15% to EUR 28 million (24). The cost/income ratio weakened to 50% (46).
• The Group Functions segment's operating loss was EUR 7 million (35). OP Pohjola's funding position and liquidity remained strong.
• OP Corporate Bank plc's CET1 ratio remained at 14.2% (14.1), which exceeds the minimum regulatory requirement by 5.4 percentage points. The changes in the EU Capital Requirements Regulation (CRR3), which took effect on 1 January 2025, caused a slight reduction in capital adequacy.
  

OP Corporate Bank plc's key indicators

€ million	Q1-3/2025	Q1-3/2024	Change, %	Q1-4/2024
Operating profit (loss), € million	442	336	31.6	473
Corporate Banking and Capital Markets	268	216	23.7	307
Asset and Sales Finance Services and Payment Transfers	152	123	23.4	167
Baltics	29	31	-6.0	39
Group Functions	-7	-35	-	-40
Total income	621	568	9.4	773
Total expenses	-218	-217	0.8	-298
Cost/income ratio, %	35.2	38.2	-3.0*	38.6
Return on equity (ROE), %	9.4	7.6	1.8*	7.9
Return on assets (ROA), %	0.62	0.46	0.16*	0.48
	30 Sep 2025	30 Sep 2024	Change, %	31 Dec 2024
CET1 ratio, %	14.2	14.0	0.1*	14.1
Loan portfolio, € million	28,723	27,536	4.3	28,295
Guarantee portfolio, € million	2,712	2,727	-0.6	2,660
Other exposures, € million	5,262	5,398	-2.5	5,238
Deposits, € million	16,060	16,229	-1.0	17,155
Ratio of non-performing exposures to exposures, %	1.3	2.0	-0.7*	1.8
Ratio of impairment loss on receivables to loan and guarantee portfolio, %	-0.17	0.07	-0.23*	0.00

* Change in ratio, percentage point(s).
Comparatives for the income statement items are based on the corresponding figures in 2024. Unless otherwise specified, figures from 31 December 2024 are used as comparatives for balance-sheet and other cross-sectional items.

Outlook

Economic confidence has increased since trade policy uncertainty has diminished. On the other hand, the higher tariffs will impact negatively on the economic outlook in the near future. Moreover, equity markets and the business environment of OP Corporate Bank and its customers could be affected by spreading geopolitical crises or mounting trade barriers.

A full-year earnings estimate for 2025 will only be provided for OP Pohjola, in OP Pohjola's financial statements bulletin and in its interim and half-year financial reports.

The most significant uncertainties affecting OP Corporate Bank's earnings performance relate to developments in the business environment, changes in the investment environment, and developments in impairment loss on receivables. Forward-looking statements in this Interim Report expressing the management's expectations, beliefs, estimates, forecasts, projections and assumptions are based on the current view on developments in the economy, and actual results may differ materially from those expressed in the forward-looking statements.

Financial reporting

Schedule for financial reports in 2025:

Financial Statements Bulletin 1 January?31 December 2025	11 February 2026
OP Corporate Bank plc's Report by the Board of Directors and Financial Statements 2025	Week 11
OP Corporate Bank plc's Corporate Governance Statement 2025	Week 11

Schedule for financial reports in 2026:

Interim Report 1 January-31 March 2026	6 May 2026
Half-year Financial Report 1 January-30 June 2026	23 July 2026
Interim Report 1 January-30 September 2026	27 October 2026

Helsinki, 28 October 2025

OP Corporate Bank plc
Board of Directors

For additional information, please contact:

Katja Keitaanniemi, CEO, tel. [phone]
Piia Kumpulainen, Chief Communications Officer, tel. [phone]

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.