Itella Bank begins operation


Itella Bank launches operations as a deposit bank at the beginning of the year 2012.

On August 31, 2011, Itella subsidiary Itella IPS Ltd (now called Itella Bank Ltd) was granted a deposit bank license by the Financial Supervisory Authority in accordance with the Act on Credit Institutions. The invoicing and payment services of Itella IPS Ltd will continue as part of the offering of Itella Bank. The first new banking services will be introduced in 2012. Initially the services will be intended for companies, but consumer banking services will also be provided in the future.

Itella Bank specializes in forwarding payments and invoicing information in online commerce, parcel services and other online mail business. The operations of Itella Bank are based on extensive cooperation with commercial operators and the banking sector.

Further information: Tuija Sipilä, director, Itella Bank Ltd, tel. +358 20 4516 757,