S-Bank Plc, Stock exchange release, 7 June 2023 at 5.00 pm
The Pillar 2 requirement for S-Bank increases by 0.5 percentage points
The Finnish Financial Supervisory Authority has imposed on 6 June 2023 a discretionary additional capital requirement (Pillar 2) under chapter 11, section 6, section 6 a, subsection 1, paragraph 1 and section 6 b, subsection 1, paragraph 1 and 2 of the Act on Credit institutions (610/2014) for S-Bank Plc. The Pillar 2 requirement is 2.00% and must be covered as follows: at least three quarters of the additional capital requirement shall be Tier 1 capital, of which at least three quarters shall be Common Equity Tier 1 capital (CET1) in accordance with the EU Regulation on prudential requirements. The requirement is valid until further notice as of 31 December 2023 but not longer than until 31 December 2026. The current Pillar 2 requirement for S-Bank is 1.50%.
The Common Equity Tier 1 capital ratio (CET1) of S-Bank was 13.7% and the capital adequacy ratio 16.8% on 31 March 2023.
The decision has been made under the normal and annual supervisory review and evaluation process (SREP), based on Act on Credit Institutions (610/2014), chapter 11 section 6, section 6 a subsection 1 paragraph 1 and section 6 b Subsection 1 paragraphs 1 and 2.
Contact persons:
Mika Heikkilä, CFO
Contacts
- S-Pankin viestintä, S-Bank's communications, +358 50 573 5855, viestinta@s-pankki.fi
About S-Bank Plc
S-Bank is a Finnish bank and part of S Group. We exist to give everyone the possibility of a little more wealth. We have more than three million customers and we know their day-to-day life. We bring convenience and value to our customers through our easy-to-use digital services, for example. Being a full-service bank, we offer support to our customers every day and at the turning points in their lives. s-pankki.fi