Finland’s S-Bank has issued a public cash tender offer covering all issued and outstanding shares of compatriot Oma Savings Bank for €571m ($653m).
Shareholders other than Oma Savings Bank and its subsidiaries would be paid €17.20 in cash for each share that is validly tendered, as per a regulatory disclosure released on 9 July.
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Oma Savings Bank is a Finnish retail-focused bank serves more than 200,000 personal and corporate customers via 48 branches across Finland as well as digital channels and has around 600 experts.
Oma Savings Bank is listed on the regulated market operated by Nasdaq Helsinki.
The stated offer price is around 47% above the €11.70 closing price recorded on 8 July 2026, the final trading day before the tender offer was announced.
S-Bank said it does not anticipate any immediate material impact from completion of the tender offer on Oma Savings Bank’s operations or assets, management and staff positions, or its business locations.
Five foundation shareholders, together holding about 59.9% of the shares, have each given an irrevocable undertaking to accept the tender offer.
The shareholders are Etelä-Karjalan Säästöpankkisäätiö, Parkanon Säästöpankkisäätiö, Liedon Säästöpankkisäätiö, Töysän Säästöpankkisäätiö and Kuortaneen Säästöpankkisäätiö.
S-Bank CEO Riikka Laine-Tolonen said: “S-Bank’s objective is to grow to a new size category and to increase the number of active customers who consolidate their banking with S-Bank. If the transaction is completed, S-Bank would become an even stronger alternative for customers. By combining the strengths of both banks, we could offer even better services and customer experience, combining digital convenience, personal service and a strong local presence”
Completion depends on customary conditions that may be satisfied or waived by the offeror before it publishes the final tender results.
These conditions include securing required regulatory approvals and obtaining control of more than 90% of the shares and votes in Oma Savings Bank.
Oma Savings Bank CEO Karri Alameri said: “Oma Savings Bank has made significant progress in recent years. This positive development is the result of determined work through which we have strengthened our operations, improved our efficiency and focused more clearly on the fundamentals of banking. At the core of our business is a strong local presence, committed personnel and long-standing customer relationships built on trust and personal service.”
