US EditionFinancial giant OP's profitability fell clearly
6 Articles
6 Articles
OP's operating profit in January-March fell by more than 30 percent from the previous year.
The Lithuanian branch of the Finnish bank OP Corporate Bank earned EUR 4.2 million in operating profit in the first quarter, or 16% less than in the same period last year.
OP Bank Group's operating profit is estimated to be lower this year than in the previous two years.
OP Financial Group's operating profit was weighed down by the cooperative banks, which suffered from the fall in interest rates, and the insurance business, which made an operating loss due to weak investment returns.
Falling interest rates are putting pressure on the results of both OP and Aktia during the first quarter of the year. The banks nevertheless state that the situation is stable.
OP Financial Group's operating profit was weighed down by the cooperative banks, which suffered from the fall in interest rates, and the insurance business, which made an operating loss due to weak investment returns.
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