Oma-säästöpanki is facing a second case of ambiguity within a short period of time. This time, the bank has uncovered a suspected gross embezzlement that lasted for years, resulting in approximately EUR 150,000 worth of damage. The former employee responsible for the crimes has been charged with gross embezzlement and forgery in the district court of Southern Ostrobothnia. These crimes were committed between February 2019 and October 2023, and the suspect is the bank’s former manager who had previously worked in local branches in South Ostrobothnia.
This revelation comes shortly after another incident at Oma-säästöpanki where a profit warning was issued due to a breach of the bank’s lending guidelines, resulting in a EUR 19.5 million provision in the first quarter’s result. As a result, the bank’s stock dropped by over 14% on the Helsinki stock exchange. Despite ongoing legal proceedings, CEO Sydänlammi clarified that the embezzlement case is unrelated to the profit warning.
The bank’s CEO also revealed that abuses were discovered through internal control processes in October, with the background of the suspect having gambling problems. This news comes as Oma-säästöpanki is expected to provide more insight into their credit risks when they release their first-quarter interim report. This will end the quiet period before earnings announcement, allowing for further clarification on