Investors

2023

S-Bank, Annual Report 2023 (PDF, 3.59 MB)

S-Bank, Annual Report 2023 ESEF (ZIP)

S-Bank, Capital and Risk Management Report 2023 (PDF, 812 kB)

S-Bank, Capital Adequacy Tables 31 December 2023 (XLSX, 312 kB)

S-Bank, Financial Statements Bulletin 2023 (PDF, 2.0 MB)

S-Bank, Interim Report 1 January–30 September 2023 (PDF, 2.5 MB)

S-Bank, Half-year report 1 January–30 June 2023 (PDF, 1.3 MB)

S-Bank, Capital Adequacy Tables 30 June 2023 (XLSX, 40 kB)

S-Bank, Interim Report 1 January–31 March 2023 (PDF, 2.9 MB)

2022

S-Bank, Annual Report 2022 (PDF)  

S-Bank, Capital and Risk Management Report 2022 (PDF)  

S-Bank, Capital Adequacy Tables 31 December 2022 (XLSX)  

S-Bank, Financial Statements Bulletin 2022 (PDF, 1.8 MB)  

S-Bank, Interim Report 1 January–30 September 2022 (PDF, 1.3 MB)

S-Bank, Half-year Report 1 January–30 June 2022 (PDF, 1.3 MB)

S-Bank, Interim Report 1 January–31 March 2022 (PDF, 1.8 MB)

2021

S-Bank, Annual Report 2021 (PDF, 2.7 MB)  

S-Bank, Capital and Risk Management Report 2021 (PDF, 1.1 MB)  

S-Bank, Financial Statements Bulletin 2021 (PDF, 3.6 MB)

S-Bank, Interim Report 1 January–30 September 2021 (PDF, 1.9 MB)

S-Bank, Half-year Report 1 January–30 June 2021 (PDF, 1.9 MB)

S-Bank, Interim Report 1 January–31 March 2021 (PDF, 1.3 MB)

2020

S-Bank, Annual Report 2020 (PDF, 6.3 MB)

S-Bank, Capital and Risk Management Report 2020 (PDF, 2.2 MB)

S-Bank, Financial Statements Bulletin, 1.1.–31.12.2020 (PDF, 2.3 MB)

S-Bank, Half-year Report, 1 January–30 June 2020 (PDF, 1 MB)

2019

S-Bank Capital and Risk Management Report 2019 (PDF, 2.2 MB)

S-Bank Annual report 2019 (PDF, 3.6 MB)

Auditor's Report 2019 (PDF, 359 kB)

S-Bank, Half-year Report, 1 January–30 June 2019 (PDF, 1.5 MB)

2018

S-Bank Capital and Risk Management Report 2018 (PDF, 2.8 MB)

S-Bank Annual report 2018 (PDF, 2.2 MB)

Auditor's Report 2018 (PDF, 353 kB)

S-Bank Interim Report January-June 2018 (PDF, 1.1 MB)

2017

S-Bank Annual Report 2017 (PDF, 1.4 MB)

S-Bank Interim Report January-June 2017 (PDF, 250 kB)

2016

S-Bank Annual Report 2016 (PDF, 1 MB)

S-Bank Interim Report January-June 2016 (PDF, 122 kB)

2015

S-Bank Annual Report 2015 (PDF, 670 kB)

S-Bank Interim Report January-June 2015 (PDF, 115 kB)

S-Bank Plc                          
Other information disclosed according to the rules of the Exchange
2 December 2024 at 8.00 am

S-Bank’s asset purchase with Handelsbanken has been completed

S-Bank Plc has on 1 December 2024 completed as planned an asset purchase in which it acquired the Finnish private customer, asset management and investment services operations of Svenska Handelsbanken AB. With the transaction, approximately 100,000 private customers transferred from Handelsbanken to S-Bank, and S-Bank is now the fourth largest private customer bank in Finland.

Upon completion of the transaction, the companies also initiated cooperation, with S-Bank beginning to offer funds managed by Handelsbanken Fonder AB. The cooperation will diversify the selection of funds available to S-Bank’s current and future customers. In connection with the transaction, more than 200 Handelsbanken employees and nearly all leases of the bank’s Finnish branches were transferred to S-Bank.

S-Bank will pay Handelsbanken a cash amount of approximately EUR 25 million below the net value of the balance sheet items transferred upon closing. The value of loans transferred amounted to approximately EUR 2.5 billion, with the value of deposits amounting to EUR 0.9 billion.

Handelsbanken’s Assets Under Management (AUM) transferred to S-Bank in connection with the transaction amounted to approximately EUR 2 billion.

“I am delighted that we have finally been able to close the transaction involving Handelsbanken’s Finnish private customer, asset management and investment services operations. I’d like to thank all S-Bank and Handelsbanken employees, who have worked determinedly for nearly a year and a half to ensure that the transfer to the new bank is made as smooth as possible for the customers,” says Riikka Laine-Tolonen, CEO of S-Bank. “It is wonderful that S-Bank gets to be the new bank of Handelsbanken’s customers. I want to warmly welcome Handelsbanken’s nearly 100,000 private customers and more than 200 employees to S-Bank,” Laine-Tolonen concludes.

“We are happy to see that our customers have a solid and reliable future as customers of the Finnish S-Bank. In addition to private customer, asset management and investment services operations, the majority of our personnel will transfer to S-Bank, including familiar contact persons in branch offices across Finland as well as our experts and customer service. In the future, customers can continue to visit their familiar branches, which will be part of S-Bank’s extensive branch network, and use S-Bank’s versatile digital channels,” says Hanne Katrama, Country Manager at Handelsbanken.

The transaction is part of an agreement signed by Handelsbanken on 31 May 2023 with S-Bank, Oma Savings Bank Plc (OmaSp) and Fennia Life Insurance Company Ltd. to sell the bank's Finnish retail banking, asset management and investment services businesses to S-Bank, its SME business to OmaSp and its life insurance business to Fennia.

S-Bank Plc will acquire the Finnish private customer, asset management and investment services operations of Svenska Handelsbanken AB. No action is required from customers at this stage, and customers will be informed of the progress of the transaction. 

Upon completion of the transaction, approximately 230 Handelsbanken employees and nearly all of the leases of the bank’s Finnish branches will be transferred to S-Bank. The companies will also start to cooperate, and S-Bank will begin to offer funds managed by Handelsbanken Fonder AB. The cooperation will diversify the selection of funds available to S-Bank’s current and future customers.  

“We warmly welcome Handelsbanken’s private customers to their new home. S-Bank and Handelsbanken both operate in their own unique way, and according to surveys, customers of both banks are very satisfied with their banks. We will now join the strengths of both banks. We wish our new colleagues welcome,” says Riikka Laine-Tolonen, CEO of S-Bank. 

“Today marks the start of the next chapter in the S-Bank story. With this transaction, we strengthen our position as a bank for the Finns. Our housing loan and deposit portfolio will grow, and we will become the fourth largest bank in both sectors in the Finnish market,” says Laine-Tolonen. 

Moreover, the transaction will strengthen S-Bank's position as one of the leading asset managers in Finland: the assets under our management will grow, the selection of funds available to our customers will become more diverse, and the number of our Private Banking customers will almost double. Wealth Management is one of S-Bank’s two business segments. It offers services to fund investors, Private Banking customers and also to the largest Finnish institutional investors. 

“This is a transaction in line with S-Bank's strategy. I am delighted that Handelsbanken considered S-Bank to be the best option to continue serving their household customers in Finland. S-Bank will now move up to a new size category, which will also strengthen the bank’s earning power and capital adequacy in the longer term. The transaction will also enhance S-Bank's ability to continue investing in the development of banking services for the S Group’s co-op members,” says Jari Annala, Chairman of the Board of S-Bank. 

No action required from customers at this stage 

The parties expect the transaction to be completed during second half of 2024. For the time being, Handelsbanken and S-Bank will continue to serve their customers as before, and customers of both banks will continue to use their own bank. No action is required from customers at this stage, and customers will be informed of the progress of the transaction. 

The subject of the transaction comprises the business operations to be acquired from Handelsbanken, which will be transferred to S-Bank at the time of closing.  

S-Bank will not pay a premium on the transaction. S-Bank will pay Handelsbanken a cash amount that is EUR 20–25 million less than the net value of the balance sheet items to be transferred at closing. 

The net value is determined by the difference between the values of the loan and deposit agreements to be transferred and it amounted to approximately EUR 2.0 billion on 31 March 2023. The value of loans to be transferred was approximately EUR 3.6 billion and that of deposits approximately EUR 1.6 billion. The final purchase price will be determined at closing on the basis of the value of the loan and deposit agreements current at that time. 

The transaction will be covered with a subsequent share issue to the owners and debt financing from the market. S-Bank will strengthen its own funds with a share issue of up to EUR 200 million to ensure that the bank’s capitalisation will remain strong also following the transaction. The owners of S-Bank, SOK Corporation and the cooperative societies belonging to the S Group, have committed to the issue. S-Bank has also agreed on financing arrangements, which will have a total value of approximately EUR 2.0 billion. During the initial stage, financing will be arranged by Danske Bank A/S. To cover the debt financing and pay the transaction price, S-Bank will issue covered bonds between 2023 and 2025. 

The transaction will not affect S-Bank’s guidance on its outlook for 2023. 

On 31 May 2023, Handelsbanken signed an agreement with S-Bank, Oma Savings Bank Plc (OmaSp) and Fennia Life Insurance Company Ltd. to sell the bank's Finnish retail banking, asset management and investment services businesses to S-Bank, its SME business to OmaSp and its life insurance business, including investment, pension and loan insurance, to Fennia. As part of the sale of the SME business to OmaSp, entrepreneurs’ banking services, excluding asset management and investment services, will also be transferred to OmaSp. The transaction is subject to regulatory approval. 

Further information
S-Bank's communications, +358 50 573 5855, viestinta@s-pankki.fi

A system malfunction in S-Bank authentication during the summer – the situation has been resolved and all customers affected by the malfunction have been contacted

A malfunction occurred in the authentication with S-Bank online banking IDs during the period from 20 April to 5 August 2022, affecting a limited group of customers. The malfunction has been resolved. S-Bank has contacted all customers affected by the malfunction by an online bank message or a letter. If a customer has not been contacted, the malfunction did not concern them and there is no need for any action.

A malfunction occurred in the authentication with S-Bank online banking IDs during the period from 20 April to 5 August 2022, affecting a group of a few hundred people. As a result of the malfunction, a limited number of S-Bank customers had the chance in certain situations to log in to another customer’s online banking account. In a very small number of cases, the system malfunction was also misused, e.g. for unauthorised payments and for logging in to third-party online services.

The malfunction was due to the erroneous functioning of an individual software component in the online banking service. The malfunction was corrected as soon as it was detected. Authentication with the S-Bank online banking ID is secure. 

“We are deeply sorry for the incident. We take the security of our services very seriously, and continuously develop new ways to protect our services. This involves, unfortunately, a race with criminals who constantly seek new vulnerabilities in the services”, says Carl-Edvard Holmberg, director in charge of the development of S-Bank’s digital services.

S-Bank has requested the police to investigate the incident and establish whether those who have exploited the system malfunction have committed any crime. S-Bank will compensate its customers for any direct financial losses resulting from the malfunction.

“We have contacted all customers affected by the situation by an online bank message or a letter. In addition, we have made phone calls to customers. If a customer has not been contacted by us so far, the malfunction did not concern them and there is no need for any action.”

Further information:
S-Bank Communications, +358 50 573 5855, viestinta@s-pankki.fi

The CEO of S-Bank will change. The current CEO Pekka Ylihurula has stepped down, and the search for a new managing director has begun.

“I would like to thank Pekka Ylihurula for his long-term good work to develop S-Bank into a full-service bank,” says Jari Annala, S-Bank’s Chairman of the Board.

“S-Bank will continue to implement its strategy as planned, growing strongly and serving its 3.1 million customers,” Annala continues.

Deputy CEO Hanna Porkka will be acting as Interim CEO until the new CEO takes office.

“It’s a great honour to lead the bank voted Finland’s most responsible bank and our great personnel until a new managing director is elected,” Hanna Porkka says.

More information:
Contacts are coordinated by S-Bank Communications, +358 50 573 5855