contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Sauli Vilén

Matias Arola

Oma Savings Bank is a Finnish bank that serves private and corporate customers nationwide through its branch offices and digital service channels. The company focuses primarily on retail banking operations and provides its clients banking services through its own balance sheet as well as by acting as an intermediary for its partners' products, such as credit, investment, and loan insurance products. OmaSp is also engaged in mortgage banking operations.

The old wisdoms and facts from the banking sector have always held true. It is regrettable that Omasp’s board failed to grasp this, instead allowing management free rein to boast about their success and their customer-centric, effective operating model, which consequently attracted all high-risk customers. In its ignorance, the administration also handsomely rewarded those “charlatans.” Typical of savings banks, Omasäästöpankki has also suffered from an amateurish and seemingly ignorant administration. Moreover, the foundations, as owners, have appointed pleasant amateurs to remunerated board positions, thus contributing to the genesis of these problems. The only “professionals” were in management, but even they operated in the wrong way, as has been demonstrated.

It’s again now, regarding the individuals in question, that they are being prosecuted over “coins”… From memory, the deals have been small, especially when compared to the millions with which the Pasis have played “roulette” in the house in question. Liiri’s actions would also be interesting; he has, however, known quite a lot…

Three former OmaSp board members to be charged | Ilkka-Pohjalainen There’s the link, probably a paywall at some point. I’ll quote the names from the article:  The accused are Aila Hemminki, Jyrki Mäkynen, and Jaana Sandström.   The prosecutor also made decisions not to prosecute at the same time. Heli Korpinen, Jarmo Salmi, and Kari Mononen were cleared of suspicion.

Ilkka-Pohjalainen reported that three former board members will be charged with insider trading.

Here’s a new and fresh perspective regarding money laundering. I haven’t gone through all the previous posts here, so if there’s been discussion on the topic before, I didn’t notice them:                   Yirah.fi              Rakenne, joka ei kysy – Historiallisten pankkiskandaalien kaava ja...    Kun Finanssivalvonta raportoi 'erittäin suuren merkittävyyden puutteista' pankin asiakastuntemuksessa, herää kysymys: onko kyseessä huolimattomuus vai rakenne? Tässä analyysissa tarkastelemme, miten historiallisten pankkiskandaalien, kuten YBM...                             Excerpt: 4.3 What does this mean? FIN-FSA’s observations describe a bank that meets the criteria for a structure enabling money laundering: ✓ Weak customer due diligence  ✓ Ultimate beneficial owners unidentified  ✓ Origin of funds undetermined This does not prove that money laundering has occurred. It proves that the structure would not have prevented it. An article that asks good questions.

Oh dear. I hadn’t remembered that, but indeed, it seems the bank hadn’t properly handled the Minkkinens’ cottage mortgages. And as you pointed out, this is just the tip of the iceberg, as the Minkkinens’ loans are, in terms of their size, just a drop in the ocean, but apparently the only ones that have come to light regarding these matters. From their phone call with Koponen, it becomes clear at least that the National Bureau of Investigation’s (KRP) line of inquiry was purely on the bank’s side: only the Minkkinens were investigated for fraud, not the bank. Time will tell if the investigation’s focus will also shift towards the bank, and on the other hand, the bank and its personnel might already be subjects of multiple investigations, but that information will certainly not reach the public, at least not for a while. I personally find it puzzling why Turtio spent time on making such a “small” deal, where there was clearly a high risk of getting caught for his actions.

In connection with the Minkkinen case, the same thing emerged that I have written about here a long time ago. Minkkinen had a cottage in Lapland, which Minkkinen voluntarily sold when trying to cope with his debts (the buyer was a party linked to OmaSp’s then Kankaanpää branch manager, as well as Turtio and the Seinäjoki corporate bank manager). The Lapland cottage had x number of mortgages, which were officially held by Minkkinen’s company. The bank had probably at some point obtained names for a pledge agreement concerning the mortgages on that Lapland cottage, but it had never been registered in the mortgage register. When the cottage was sold, the bank became very worried because Minkkinen’s company at that point had many debts in enforcement, and the bank did not have a preferential status to the proceeds from the sale due to the mortgages. All this tells a lot about the level of banking operations practiced at OmaSp. Over the years, all traditional skilled bank officials were kicked out, and in their place, young boys and girls were hired to hand out money to customers. With that, all basic expertise, even in the most rudimentary matters, such as those related to collateral, disappeared from the organization. The most interesting aspect of the Minkkinen case, in my opinion, is that Turtio granted a million-euro loan to Minkkinen’s company for the purchase of NHI Aparmets shares. At that point, according to meeting minutes sources, Turtio was the owner of the seller, New House Innovation, with a 50% stake. I haven’t written in this thread for a long time because I thought the KRP and authorities would handle the investigation of matters going forward. However, I can say that this Minkkinen case is very light fare in the grand scheme of things. There are much more serious events that are also known to the investigators. Whether there will ever be convictions for them, I won’t venture to guess.

Oma Säästöpankki

The Q2 result exceeded our expectations clearly and the report again strengthened our confidence in the company’s earnings growth outlook in the next few years. We have revised our estimates...

<p>The Q2 result exceeded our expectations clearly and the report again strengthened our confidence in the company’s earnings growth outlook in the next few years. We have revised our estimates upwards after the Q2 result and see that the strong earnings growth still offers investors a very attractive return expectation.</p> 

	2020	21e	22e
Operating income	111.1	154.7	136.0
growth-%	20.0 %	39.3 %	-12.1 %
EBIT (adj.)	26.7	54.9	55.8
EBIT-% (adj.)	24.0 %	35.5 %	41.0 %
EPS (adj.)	0.73	1.43	1.45
Dividend	0.30	0.35	0.40
Dividend %	2.8 %	3.3 %	3.7 %
P/E (adj.)	14.5	7.5	7.4
EV/EBITDA	94.8	50.6	91.6

OmaSp: Convincing performance

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Key Estimate Figures02.08.2021

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