Oma Savings Bank and CEO Karri Alameri have agreed that he will leave the role on 5 November 2026, with his employment ending on 5 May 2027. Alameri will stand for election to the board, which is starting a process to nominate his successor.
Alameri was hired in 2024 to steady the bank after a turbulent year.
OmaSp’s board appointed Alameri in September 2024, with a start date no later than 1 April 2025, and Sarianna Liiri served as interim CEO until he took over. He joined from the Savings Banks Group, where he had been CEO since 2022, after earlier management roles at OP Financial Group and Danske Bank.
At the time, Alameri said the news flow around OmaSp had been exceptionally challenging in recent months, and that the aim was to “bring the bank back to a good growth and earnings track”.
The exit follows S-Bank’s takeover of the bank
Bloomberg reported in July that S-Bank had agreed to buy OmaSp for EUR 17.20 a share in cash, valuing its equity at about EUR 571 million and representing a premium of about 47% to the previous day’s closing price. According to the report, OmaSp’s board unanimously recommended the offer, and S-Bank said it aims to delist the bank from Nasdaq Helsinki.
After settling the offer, S-Bank owned 96.40% of OmaSp’s shares and votes on 7 October. OmaSp now describes itself as part of S-Bank Group.
Bloomberg also reported that S-Bank expected the deal to have no immediate material effect on OmaSp’s operations, employees or branch network, but that it intended to change the board after completion and keep the bank as a subsidiary.
S&P raised its long-term rating on the bank to BBB+ from BBB, calling it a highly strategic subsidiary that would benefit from group support if needed.
The January strategy now sits inside a larger group
In January, the board approved a 2026 to 2029 strategy with targets including comparable return on equity above 14%, a cost-to-income ratio below 50% and annual fee and commission income growth above 10%. The cost-to-income ratio stood at 56.1% in 2025. How much of that plan survives integration into S-Bank is now a question for the new owner.
Alameri leaves with guidance cut
Profit has been under pressure throughout his final year. Comparable profit before taxes fell 34% to EUR 56.9 million in 2025 from EUR 86.7 million, as net interest income dropped 20.9%. In the first half of 2026, comparable profit before taxes held at EUR 23.6 million, but net interest income fell a further 20.7%.
In February, OmaSp expected 2026 profit to decline slightly. On 29 September, it said profit will instead fall significantly, citing a shrinking loan portfolio, slower fee income growth, non-performing loans declining more slowly than expected and costs from the tender offer process.
S-Bank will replace most of the board on the day Alameri steps down
OmaSp has called an extraordinary general meeting for 5 November. S-Bank holds about 96.79% of the shares and votes excluding treasury shares, and has decided to redeem the remaining shares under the Finnish Limited Liability Companies Act.
S-Bank proposes cutting the board to five members from the eight elected at the April AGM. The candidates are S-Bank CEO Riikka Laine-Tolonen, Mika Heikkilä, Jussi Sokka, Karri Alameri and current director Irma Gillberg-Hjelt. Gillberg-Hjelt is the only one independent of both the company and its significant shareholders, while Laine-Tolonen, Heikkilä and Sokka are not independent of a significant shareholder. Regulatory approvals are pending for all five.
The meeting is also set to disband the shareholders’ nomination committee and remove it from the articles of association. S-Bank proposes replacing PwC, which the April AGM elected as auditor and sustainability reporting assurer until the 2027 AGM, with KPMG, which already holds both roles at S-Bank. Board members in full-time employment or a similar relationship with an S-Bank Group company would receive no board remuneration or expense reimbursement
On 5 November, Alameri is set to move from the CEO office to a five-member board on which three directors are not independent of S-Bank. The search for his successor will run under the bank’s new ownership.
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Oma Savings Bank and CEO Karri Alameri have agreed that he will leave the role on 5 November 2026, with his employment ending on 5 May 2027. Alameri will stand for election to the board, which is starting a process to nominate his successor.
Alameri was hired in 2024 to steady the bank after a turbulent year.
OmaSp’s board appointed Alameri in September 2024, with a start date no later than 1 April 2025, and Sarianna Liiri served as interim CEO until he took over. He joined from the Savings Banks Group, where he had been CEO since 2022, after earlier management roles at OP Financial Group and Danske Bank.
At the time, Alameri said the news flow around OmaSp had been exceptionally challenging in recent months, and that the aim was to “bring the bank back to a good growth and earnings track”.
The exit follows S-Bank’s takeover of the bank
Bloomberg reported in July that S-Bank had agreed to buy OmaSp for EUR 17.20 a share in cash, valuing its equity at about EUR 571 million and representing a premium of about 47% to the previous day’s closing price. According to the report, OmaSp’s board unanimously recommended the offer, and S-Bank said it aims to delist the bank from Nasdaq Helsinki.
After settling the offer, S-Bank owned 96.40% of OmaSp’s shares and votes on 7 October. OmaSp now describes itself as part of S-Bank Group.
Bloomberg also reported that S-Bank expected the deal to have no immediate material effect on OmaSp’s operations, employees or branch network, but that it intended to change the board after completion and keep the bank as a subsidiary.
S&P raised its long-term rating on the bank to BBB+ from BBB, calling it a highly strategic subsidiary that would benefit from group support if needed.
The January strategy now sits inside a larger group
In January, the board approved a 2026 to 2029 strategy with targets including comparable return on equity above 14%, a cost-to-income ratio below 50% and annual fee and commission income growth above 10%. The cost-to-income ratio stood at 56.1% in 2025. How much of that plan survives integration into S-Bank is now a question for the new owner.
Alameri leaves with guidance cut
Profit has been under pressure throughout his final year. Comparable profit before taxes fell 34% to EUR 56.9 million in 2025 from EUR 86.7 million, as net interest income dropped 20.9%. In the first half of 2026, comparable profit before taxes held at EUR 23.6 million, but net interest income fell a further 20.7%.
In February, OmaSp expected 2026 profit to decline slightly. On 29 September, it said profit will instead fall significantly, citing a shrinking loan portfolio, slower fee income growth, non-performing loans declining more slowly than expected and costs from the tender offer process.
S-Bank will replace most of the board on the day Alameri steps down
OmaSp has called an extraordinary general meeting for 5 November. S-Bank holds about 96.79% of the shares and votes excluding treasury shares, and has decided to redeem the remaining shares under the Finnish Limited Liability Companies Act.
S-Bank proposes cutting the board to five members from the eight elected at the April AGM. The candidates are S-Bank CEO Riikka Laine-Tolonen, Mika Heikkilä, Jussi Sokka, Karri Alameri and current director Irma Gillberg-Hjelt. Gillberg-Hjelt is the only one independent of both the company and its significant shareholders, while Laine-Tolonen, Heikkilä and Sokka are not independent of a significant shareholder. Regulatory approvals are pending for all five.
The meeting is also set to disband the shareholders’ nomination committee and remove it from the articles of association. S-Bank proposes replacing PwC, which the April AGM elected as auditor and sustainability reporting assurer until the 2027 AGM, with KPMG, which already holds both roles at S-Bank. Board members in full-time employment or a similar relationship with an S-Bank Group company would receive no board remuneration or expense reimbursement
On 5 November, Alameri is set to move from the CEO office to a five-member board on which three directors are not independent of S-Bank. The search for his successor will run under the bank’s new ownership.
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