OP Financial Group reports €720 million operating profit in Q3 2023 in Finland

In the third quarter of 2023, OP Financial Group’s operating profit rose to €720 million, up from €584 million in the same period last year. However, net interest income decreased by 1.6% to €712 million due to the development of market interest rates impacting margins.

CEO Timo Ritakallio expressed satisfaction with the group’s performance, stating that the operating profit developed excellently during the quarter. He also noted that the economic recovery that began in Finland earlier this year appears to be continuing into the latter part of the year. This positive trend, according to him, is largely driven by better-than-expected developments in domestic markets.