According to the Financial Supervisory Authority, S-Bank has not established interconnectedness based on economic dependency at a sufficient level between a few client groups. The decision requires no actions on the part of customers.
S-Bank Plc, Stock exchange release, 6 July 2022 at 14.15 pm
On 6 July 2022, the Financial Supervisory Authority made a decision regarding S-Bank concerning the formation of certain client groups. According to the Financial Supervisory Authority, S-Bank has not fully complied with the regulations on establishing interconnectedness based on economic dependency.
“The Financial Supervisory Authority’s decision has no impact on S-Bank’s financial position or future outlook. S-Bank is not suspected of misconduct, as this is an issue of an administrative procedure that specifies the formation of client groups,” says Jussi Sokka, Legal Counsel at S-Bank.
S-Bank has investigated the matter openly in cooperation with the Financial Supervisory Authority. The decision requires no actions on the part of customers.
Jussi Sokka, SVP, Legal and Govenrnance, General Counsel, S-Bank
Hanna Porkka, Interim CEO, S-Bank
Contacts to S-Bank’s media telephone, tel. +358 50 573 5855
About S-Bank Plc
S-Bank is a Finnish bank that wants to help everyone achieve a slightly more affluent tomorrow, regardless of the size of their wallet. At S-Bank, expertise means that we understand the economy and people: as part of the S Group, we know the everyday lives of our 3.1 million customers. We are changing the banking sector by offering superior ease and benefits by offering both banking and retail services. www.s-pankki.fi