Search company, investor...

Predict your next investment

OP Financial Group company logo
Diversified Financial Services
FINANCE | Asset/Financial Management
op.fi

Investments

15

Portfolio Exits

4

Funds

2

Partners & Customers

10

About OP Financial Group

OP Financial Group is Finland's largest financial services group. It provides its customers with the best loyalty benefits and the most extensive and diversified range of banking, investment and insurance services. The Group has three business segments: Banking, Non-Life Insurance, and Wealth Management.

Headquarters Location

Finland

Are you an investor?
Submit your portfolio details now to be considered in our investor rankings.

Latest OP Financial Group News

OP Financial Group’s Financial Statements Bulletin for 1 January–31 December 2023: Operating profit EUR 2,050 million – Record amount of benefits for owner-customers

Feb 7, 2024

January–31 December 2023: Operating profit EUR 2,050 million – Record amount of benefits for owner-customers Operating profit was EUR 2,050 million (1,120). Income from customer business, or net interest income, insurance service result and net commissions and fees, increased by 45% to EUR 3,860 million (2,666). Net interest income grew by 77% to EUR 2,871 million (1,618). Insurance service result decreased by 23.2% to EUR 81 million (106) and net commissions and fees by 3.7% to EUR 908 million (942). Impairment loss on receivables in the income statement was EUR 269 million (115), accounting for 0.26% (0.11) of the loan and guarantee portfolio. Investment income increased by 59% to EUR 389 million (245). Total expenses increased by 12% to EUR 2,201 million (1,961). The cost/income ratio improved to 46% (58). The loan portfolio decreased by 1% to EUR 98.9 billion (100.2) and deposits by 5% to EUR 74.5 billion (78.0). CET1 ratio was 19.2% (17.4), which exceeds the minimum regulatory requirement by 6.9 percentage points. During the first quarter, OP Financial Group adopted the Standardised Approach to credit risk. Retail Banking operating profit rose to EUR 1,223 million (502). Net interest income grew by 89% to EUR 2,258 million (1,194). Impairment loss on receivables increased by EUR 77 million to EUR 173 million (96). Net commissions and fees decreased by 11% to EUR 686 million (773). The cost/income ratio improved to 46% (62). The loan portfolio decreased by 2% and deposits by 6%. Corporate Banking operating profit decreased to EUR 408 million (416). Net interest income grew by 29% to EUR 591 million (457). Impairment loss on receivables increased by EUR 78 million to EUR 96 million (18). Net commissions and fees grew by 32% to EUR 219 million (166). The cost/income ratio improved to 40% (41). The loan portfolio increased by 1% and deposits decreased by 2%. Insurance operating profit increased to EUR 414 million (293). Insurance service result decreased by EUR 25 million to EUR 81 million (106). Investment income grew by EUR 193 million to EUR 347 million (154). Non-life Insurance recorded a combined ratio of 94% (90). Group Functions operating loss was EUR –26 million (–91). OP Financial Group paid 30% extra on OP bonuses earned by owner-customers for 2023. The value of the new OP bonuses earned totalled EUR 275 million (215). In addition, owner-customers will get daily banking services without monthly charges from October 2023 until the end of 2024. The value of this benefit was EUR 22 million for 2023. OP Financial Group has applied IFRS 17 Insurance Contracts as of 1 January 2023. At the same time, the Group ceased to apply the overlay approach. The figures in the income statement and balance sheet for 2022 have been adjusted retrospectively. Note 1 Accounting policies of this Financial Statements Bulletin provides more information on the adoption of IFRS 17 and the changes in the format of the income statement and balance sheet. Operating profit for 2024 is expected to be at a good level but lower than that for 2023. For more detailed information on the outlook, see “Outlook for 2024”. OP Financial Group’s key indicators 1.4 OP Financial Group has applied IFRS 17 Insurance Contracts as of 1 January 2023. The figures in the income statement and balance sheet for 2022 have been adjusted retrospectively. The preceding years’ figures (2019, 2020 and 2021) have not been adjusted. Note 1 Accounting policies of this Financial Statements Bulletin provides more information on the adoption of IFRS 17 and the changes in the format of the income statement and balance sheet. Comparatives for the income statement are based on the corresponding figures in 2022. Unless otherwise specified, figures from 31 December 2022 are used as comparatives for balance-sheet and other cross-sectional items. * Change in ratio ** As of 1 January 2023, the loan portfolio and deposits exclude changes in the fair value of loans and deposits in hedge accounting. Comparatives have been adjusted to correspond to the current definition.

OP Financial Group Investments

15 Investments

OP Financial Group has made 15 investments. Their latest investment was in Cactos as part of their Unattributed on January 11, 2024.

CBI Logo

OP Financial Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/11/2024

Unattributed

Cactos

$28.56M

Yes

2

12/12/2023

Convertible Note

Lounea

$55.07M

Yes

2

3/28/2023

Line of Credit

Africa Mobile Networks

$20M

Yes

2

1/21/2020

Series B

Subscribe to see more

$99M

Subscribe to see more

10

11/14/2019

Series A

Subscribe to see more

$99M

Subscribe to see more

10

Date

1/11/2024

12/12/2023

3/28/2023

1/21/2020

11/14/2019

Round

Unattributed

Convertible Note

Line of Credit

Series B

Series A

Company

Cactos

Lounea

Africa Mobile Networks

Subscribe to see more

Subscribe to see more

Amount

$28.56M

$55.07M

$20M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

2

2

10

10

OP Financial Group Portfolio Exits

4 Portfolio Exits

OP Financial Group has 4 portfolio exits. Their latest portfolio exit was Spinnova on June 24, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/24/2021

IPO

$99M

Public

2

6/15/2021

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

4/16/2019

Divestiture

Subscribe to see more

$99M

Subscribe to see more

10

4/5/2017

Divestiture

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/24/2021

6/15/2021

4/16/2019

4/5/2017

Exit

IPO

Acquired

Divestiture

Divestiture

Companies

Subscribe to see more

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

Acquirer

Public

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

2

10

10

10

OP Financial Group Fund History

2 Fund Histories

OP Financial Group has 2 funds, including OP Financial Group Infrastructure Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

8/13/2021

OP Financial Group Infrastructure Fund

$186.13M

1

7/17/2020

OP Financial Group I

$99M

10

Closing Date

8/13/2021

7/17/2020

Fund

OP Financial Group Infrastructure Fund

OP Financial Group I

Fund Type

Status

Amount

$186.13M

$99M

Sources

1

10

OP Financial Group Partners & Customers

10 Partners and customers

OP Financial Group has 10 strategic partners and customers. OP Financial Group recently partnered with TietoEVRY on December 12, 2021.

Date

Type

Business Partner

Country

News Snippet

Sources

12/20/2021

Partner

Finland

TietoEVRY and OP Financial Group renewed their cooperation

The largest financial-services company in Finland , OP Financial Group , and TietoEVRY , a leading Nordic digital-services provider , have renewed their partnership agreement .

1

12/20/2021

Partner

Finland

TietoEVRY and OP Financial Group renew their cooperation

The largest financial-services company in Finland , OP Financial Group , and TietoEVRY , a leading Nordic digital-services provider , have renewed their partnership agreement .

1

4/27/2021

Licensor

United States

CO-OP Ecosystem Enables Credit Union Growth via Seamless Member Payment Experiences. BECU RENEWS PARTNERSHIP WITH CO-OP FINANCIAL SERVICES TO HELP CHART STRATEGIC AND TECHNOLOGY FUTURE – NACUSO

These services are tightly integrated within the CO-OP Financial Services ecosystem to help BECU engage with and protect their members in their daily , multiple payment experiences .

1

2/18/2021

Vendor

Canada

Subscribe to see more

Subscribe to see more

10

11/23/2020

Partner

Finland

Subscribe to see more

Subscribe to see more

10

Date

12/20/2021

12/20/2021

4/27/2021

2/18/2021

11/23/2020

Type

Partner

Partner

Licensor

Vendor

Partner

Business Partner

Country

Finland

Finland

United States

Canada

Finland

News Snippet

TietoEVRY and OP Financial Group renewed their cooperation

The largest financial-services company in Finland , OP Financial Group , and TietoEVRY , a leading Nordic digital-services provider , have renewed their partnership agreement .

TietoEVRY and OP Financial Group renew their cooperation

The largest financial-services company in Finland , OP Financial Group , and TietoEVRY , a leading Nordic digital-services provider , have renewed their partnership agreement .

CO-OP Ecosystem Enables Credit Union Growth via Seamless Member Payment Experiences. BECU RENEWS PARTNERSHIP WITH CO-OP FINANCIAL SERVICES TO HELP CHART STRATEGIC AND TECHNOLOGY FUTURE – NACUSO

These services are tightly integrated within the CO-OP Financial Services ecosystem to help BECU engage with and protect their members in their daily , multiple payment experiences .

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Sources

1

1

1

10

10

OP Financial Group Team

15 Team Members

OP Financial Group has 15 team members, including current Chief Executive Officer, Timo Ritakallio.

Name

Work History

Title

Status

Timo Ritakallio

Ilmarinen Pension Insurance, and OKO Bank

Chief Executive Officer

Current

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Name

Timo Ritakallio

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Work History

Ilmarinen Pension Insurance, and OKO Bank

Title

Chief Executive Officer

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Status

Current

Subscribe to see more

Subscribe to see more

Subscribe to see more

Subscribe to see more

Compare OP Financial Group to Competitors

H
Holm Bank

Holm Bank is a bank. It provides banking and other financial services. Its services include term deposits, physical and virtual credit cards, financing for private and business clients, and installment plans. Holm Bank was founded in 1995 and is based in Haapsalu, Estonia.

Taaleri Logo
Taaleri

Taaleri is a Nordic investment and asset manager specializing in renewable energy and alternative investments across various sectors. The company offers private asset management services, including investments in renewable energy, real estate, and bioindustry, and operates a strategic investments segment that includes an insurance company. Taaleri's products and services are designed to channel capital towards profitable and sustainable ventures with a positive environmental and societal impact. Taaleri was formerly known as Taaleritehdas. It was founded in 2007 and is based in Helsinki, Finland.

Mandatum Life Logo
Mandatum Life

Mandatum Group provides financial services including wealth management, investments, savings, personal risk insurance as well as incentive and reward solutions. It was founded in 1986 and is based in Helsinki, Finland.

G
Garantia

Garantia is an insurance company specializing in guarantee services within the non-life insurance sector. The company offers guarantee products for homeowners, real estate investors, landlords, and businesses, facilitating various financing arrangements and enhancing risk management. Garantia's services are primarily utilized by the real estate and corporate finance sectors. It was founded in 1993 and is based in Helsinki, Finland.

T
TBB Pank

TBB Pank is a financial institution. It provides personal and business savings accounts, security boxes, mortgages, and more. It was founded in 1991 and is based in Tallinn, Estonia.

hightrust.id Logo
hightrust.id

hightrust.id provides surgical and healthcare patient safety solutions. It offers a nursing mobile application, the patient's smart bracelet, and a medical analysis tool. It was founded in 2017 and is based in Helsinki, Finland.

Loading...

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.