Positive profit warning: S-Bank raises its outlook for the 2023 and publishes preliminary information about January-September

S-Bank Plc, Stock exchange release, 18 October 2023 at 8.00 am

Positive profit warning: S-Bank raises its outlook for the 2023 and publishes preliminary information about January-September

S-Bank Plc is raising its outlook for 2023. The company now estimates that its full-year operating profit will be more than 2.5 times higher compared to the previous year (EUR 44.7 million). Previously, the company estimated that the full-year operating profit would almost double that of the previous year. The continued rise in interest rates is having a positive impact on the bank’s performance. However, the outlook for the rest of 2023 is still subject to uncertainties, which are related to the operating environment and the development of the economy, employment and the housing market.

S-Bank is also providing preliminary information on its performance in January–September 2023. Based on preliminary and unaudited data, the operating profit for January–September was EUR 103.9 million (24.1). The improvement in performance was driven by a strong increase in net interest income.

The next time S-Bank will comment on its financial performance will be in connection with the publication of its interim report for the period 1 January – 30 September 2023 on 9 November 2023.

Contact persons:
Riikka Laine-Tolonen, CEO
Mika Heikkilä, CFO