Oma Säästöpankki to Acquire Handelsbanken Finland

The Finnish Financial Supervisory Authority (FIN-FSA) has approved Oma Säästöpankki’s acquisition of Handelsbanken Finland. The deal, which was first announced in March 2023, is expected to close in the fourth quarter of this year.

The acquisition will create Finland’s fifth-largest retail bank, with over 1.2 million customers and assets of €15 billion. Oma Säästöpankki is a cooperative bank, while Handelsbanken is a Swedish multinational bank.

The approval of the acquisition by FIN-FSA is a significant milestone for Oma Säästöpankki. The bank has been expanding rapidly in recent years, and the acquisition of Handelsbanken Finland will further consolidate its position in the Finnish market.

The acquisition is also a sign of the growing consolidation in the European banking sector. In recent years, there have been a number of large bank mergers and acquisitions, as banks seek to reduce costs and increase their market share.

The acquisition of Handelsbanken Finland by Oma Säästöpankki is expected to have a number of benefits for both banks. Oma Säästöpankki will gain access to Handelsbanken’s strong customer base and its expertise in corporate banking. Handelsbanken, on the other hand, will benefit from Oma Säästöpankki’s strong retail banking franchise.

The acquisition is also expected to be beneficial for Finnish customers. The combined bank will be able to offer a wider range of products and services to customers, and it will be better able to compete with other banks in the market.