OP Financial Group postpones payment of interest on Profit Shares in line with ECB recommendation
OP Financial Group postpones OP cooperative banks’ profit distribution, i.e. the payment of interest on Profit Shares for the financial year 2019, from June until October 2020 in line with the recommendations issued by the European Central Bank (ECB) and the Financial Supervisory Authority (FIN-FSA).On 27 March 2020, the ECB issued a recommendation asking banks to postpone profit distribution until at least 1 October 2020. The FIN-FSA issued a similar recommendation to banks under its supervision on 28 March 2020 and refined it on 30 March 2020. The purpose of this recommendation is to