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In the evaluation, Evli assesses among other things the business and financial effects of a possible exit from the banking services. The evaluation has no effect on Evli's product and service offering or customer service.
“The study is part of the implementation of Evli's strategy and a continuum of the long-term development of Evli's business. Evli has a growth strategy in which profitability is strongly linked to business development through the growth of assets under management. It is estimated that a possible exit from banking service would free up both financial and human resources for the development of existing and new products and services in order to strengthen Evli's market position”, says Maunu Lehtimäki, CEO of
If Evli decided, as a result of the evaluation process, that it will exit from banking services, Evli would apply for an investment service authorization and continue its operations as an investment firm. It is currently estimated that the change would take place at the earliest during the third quarter of 2021.The waiver of the credit institution license would require, among other things, the approval of Evli's Annual General Meeting and the supervisory authority. Evli estimates that the evaluation process will be finalized during the first half of 2021.
Evli currently offers banking services that support clients’ investment activities and wants to ensure their availability in the future as well. As part of the evaluation process, Evli is identifying a suitable partner through which Evli would be able to offer its clients at least as comprehensive banking services as Evli currently offers.
Additional information:
Maunu Lehtimäki, CEO,
Evli is a bank specialized in investments that helps institutions, corporations and private persons increase their wealth. The product and service offering includes mutual funds, asset management and capital markets services, alternative investment products, equity research, incentive plan design and administration as well as Corporate Finance services. The company also offers banking services that support clients' investment operations. Evli is the highest ranked and most used institutional asset manager in
Evli has a total of
*KANTAR SIFO Prospera External Asset Management Finland 2015, 2016, 2017, 2018, 2019 and SFR Scandinavian Financial Research Institutional Investment Services,
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