February 10, 2011
Managing Director Ilkka Hallavo:
Sampo Bank reports strong profit improvement
“The financial performance of Sampo Bank Group took a very positive turn in the year 2010. Pre-tax profit improved to EUR 152.3 million, an improvement of EUR 119.6 million compared to 2009. We have witnessed several positive developments, such as growth in deposits faster than market, increased fee income, a significant reduction of impairment charges and achieving the position of market leader in the PS accounts. Net interest income turned to a slight increase in the second half. At the end of the year Sampo Bank, as a first bank in Finland, presented mobile banking applications tailored for iPhone and Android smartphones. In a short period of time Sampo Bank´s mobile bank received over 20 000 users.
Sampo Bank Group's solvency is very strong, 15,2 %. This is much more than the required level of 8%, set by the Finnish authorities. At the end of the year 2010 Group´s capital base was EUR 2,698,9 million. Due to the strong capital base Sampo Bank is a reliable banking partner for its customers at all times.”
Read the whole Sampo Bank Group's Release of Financial Statements (PDF)
For further information:
Ilkka Hallavo, CEO, Sampo Bank. Tel.: +358 10 546 8057
Pekka Kainulainen, CFO, Sampo Bank. Tel.: +358 10 546 7807
Timo J. Anttila, Head of Communications, Sampo Bank. Tel: +358 10 546 8002