The Oma-säästöpanki bank is facing a second case of ambiguity in a short period, following the discovery of gross embezzlement worth approximately EUR 150,000. The former employee responsible for the crimes was charged with 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 worked in local branches in South Ostrobothnia.
The bank’s CEO, Pasi Sydänlammi, revealed that the abuses were discovered through internal control processes in October, with the background of gambling problems. This comes after another incident at Oma-säästöpanki where a profit warning was issued due to a breach of their lending guidelines resulting in a EUR 19.5 million provision in their 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 this embezzlement case is unrelated to the profit warning. The bank is expected to provide more insight into their credit risks when they release their first-quarter interim report ending the quiet period before their earnings announcement, allowing for further clarification on their financial state.