Sp Mortgage Bank Plc as a company
Sp Mortgage Bank Plc, a member of the Savings Bank Group, received an authorisation to operate as a mortgage credit bank, granted by the European Central Bank, on 21 March 2016 and started it’s operations on 29th March 2016. Sp Mortgage Bank was the first Finnish bank that applied for and received its authorisation from the European Central Bank.
Sp Mortgage Bank does not have its own customer business operations or a service network; instead, the Savings Banks that belong to the Savings Banks Amalgamation intermediate residential mortgage loans for Sp Mortgage Bank. The Savings Banks also manages the customer relationship locally.
Sp Mortgage Bank Plc is responsible for the Group's secured funding by issuing covered bonds. Read more on Debt Investors.