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Sp Mortgage Bank Plc and Oma Savings Bank Plc have signed an agreement on selling mortgages originated by Lieto Savings Bank to Oma Savings Bank

Sp Mortgage Bank Plc
·1-min read

Stock Exchange Release
28th of November 2022 at 5 pm (CET +1)

Sp Mortgage Bank Plc and Oma Savings Bank Plc have 28.11.2022 signed an agreement on selling the mortgages originated by Lieto Savings Bank and currently held by Sp Mortgage Bank Plc to Oma savings Bank Plc.

The signed agreement is part of a wider set of transactions whereby Lieto Savings Bank will sell its entire banking business to Oma Savings Bank plc.  The mortgages to be sold by Sp Mortgage Bank Plc to Oma Savings Bank Plc amount to roughly EUR 250 mio as per November 22nd 2022. After the sale Oma Savings Bank Plc carries all rights and responsibilities relating to the mortgages. The final volume of the mortgages subject to the transaction will be determined by the time the mortgages will be transferred to Oma Savings Bank.

Further information:

Karri Alameri, Managing Director, Savings Banks Union Coop
karri.alameri@saastopankki.fi
+358 45 656 5250

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Sp Mortgage Bank Plc is part of the Savings Banks Group and the Savings Banks Amalgamation. The role of Sp Mortgage Bank is, together with Central Bank of Savings Banks Finland Plc, to be responsible for obtaining funding for the Savings Banks Group from money and capital markets. Sp Mortgage Bank is responsible for the Savings Banks Group's mortgage-secured funding by issuing covered bonds.