Correction:OP Financial Group corrects the CET1 minimum requirements shown in its Half-year Financial Report for 1 January–30 June 2022

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OP Corporate Bank plc
OP Corporate Bank plc

OP Financial Group
Half-year Financial Report 1 January–30 June 2022
Stock Exchange Release 16 August 2022 at 20:00 EEST

Correction: OP Financial Group corrects the CET1 minimum requirements shown in its Half-year Financial Report for 1 January–30 June 2022 
 
OP Financial Group’s Half-year Financial Report (H1 report) published on 27 July 2022 contained incorrect information concerning OP Financial Group’s minimum capital requirements, on pages 1 and 12. The total capital adequacy requirement will remain unchanged at 13.8 per cent, but the CET1 minimum with buffers is 2 percentage points higher than reported earlier, or 11.7 per cent (9.7 per cent in the H1 report).  OP Financial Group covers the shortfalls of Additional Tier 1 (AT1) and Tier 2 (T2) capital with CET1 capital. This makes the CET1 minimum with buffers higher. OP Financial Group’s CET1 ratio exceeds the minimum regulatory requirement by 5.9 percentage points (7.9 percentage points in the H1 report).

The corrected full Half-year Financial Report is appended to this release. It is also available at op.fi. 

OP Cooperative

Further information:  
OP Financial Group Communications, tel. +358 10 252 8719, viestinta@op.fi 
 
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OP Financial Group is Finland’s largest financial services group, with over two million owner-customers and around 13,000 employees. We provide a comprehensive range of banking and insurance services for personal and corporate customers. OP Financial Group consists of OP cooperative banks, its central cooperative OP Cooperative, and the latter’s subsidiaries and affiliates. Our mission is to promote the sustainable prosperity, security and wellbeing of our owner-customers and operating region. Together with our owner-customers, we have been building Finnish society and a sustainable future for more than 120 years. www.op.fi