EQUITY RESEARCH: OMA SAVINGS BANK PLC

From a small savings bank to the Nordics's fastest-growing bank in less than a decade, Oma Savings Bank Plc ("OmaSp" or "Bank") provides traditional and digital banking services, to private and corporate customers, and agricultural and forestry entrepreneurs. OmaSp is a Finnish Bank, whose operational activity occurs within Finland's national territory. The Bank is publicly traded and listed on the Helsinki Stock Exchange. The main results of the MFW are based on the Dividend Discount Model (DDM) leading to a Strong Buy recommendation for OmaSp, whose target share price is EUR 30.80 per share by EOY 2025. There is an upside potential of c.68%, benchmarked against its current share price of EUR 18.34 as of 29th April 2024, with a medium-risk factor.