S-Bank announces a voluntary recommended public cash tender offer for all the shares of Oma Savings Bank Plc.

S-Bank Plc announces a voluntary recommended public cash tender offer for all the issued and outstanding shares in Oma Savings Bank Plc. The Company's shareholders will be offered a cash consideration of EUR 17.20 for each Share. The Board of Directors of Oma Savings Bank, represented by a quorum comprising the non-conflicted members of the Board of Directors has unanimously decided to recommend the shareholders of Oma Savings Bank to accept the Tender Offer.  

Setting the scene

Oma Savings Bank has resolutely implemented significant changes and improved its operational efficiency and performance. S-Bank’s strategic objective is to reach a new scale and increase the number of active customers who concentrate their banking activities with S-Bank. The contemplated transaction would represent a natural step in executing this strategy and would strengthen S-Bank’s position as a domestic banking alternative for customers.

The combination would bring together the strengths of both banks, enabling improved customer service and experience through digital ease, personal service and strong local presence. Increased scale would also enhance S-Bank’s ability to invest in the development of its services in an environment where customer expectations and regulatory and operational requirements continue to increase.

From a transaction starting point, S-Bank views the opportunity as strategically compelling for both parties. It would create a stronger platform for future growth, including corporate banking, while S-Bank’s prior transaction experience provides a solid basis for executing the combination in a controlled, smooth and responsible manner for customers and personnel. 

PwC's Approach

Lead Advisor to S-Bank through a cross-functional and cross-border Deal Team, including focused due diligence. Our approach combined high-quality corporate finance advice with deep banking sector expertise and specialist subject matter capabilities, enabling us to provide decisive value throughout the process.

Corporate Finance led Deal Team, with team members from Finland and Switzerland, guided S-Bank through a thorough, effective and swiftly executed negotiation and tender offer process while maintaining a high standard of quality. The engagement demonstrated PwC’s ability to bring together cross-border collaboration, trusted local relationships and sector-specific insight to support the client in a demanding transaction environment.  

The outcome

On 9 July 2026, S-Bank and Oma Savings Bank have entered into a combination agreement pursuant to which S-Bank will make the Tender Offer for all the Shares in

Oma Savings Bank. Oma Savings Bank’s major shareholders, who in aggregate represent approximately 59.9 per cent of Oma Savings Bank’s Shares, have each separately irrevocably undertaken to accept the Tender Offer.