OP posts lower profit in Q2
Published : 03 Aug 2017, 03:11
Updated : 03 Aug 2017, 11:01
DF Report
The country’s biggest financial group OP Pohjola posted lower income in the April-June quarter this year, reported the national broadcaster Yle quoting the bank’s financial statement released on Wednesday.
The profits reduced during the second quarter, following the group’s investment in system upgrades and healthcare sectors.
According to the report, the second-quarter earnings of the group declined compared to the stipulated period of the previous year.
The group earned a profit of EUR 288m during the second quarter, which is 13 per cent lower than that in the second quarter of 2016.
The group reported a shortfall in net insurance income, offset by improvement in investment income.
Banking was the most improved segment for OP, supported by volume growth, investment income and net interest income, said the Yle report.