Here is a new company report from Kassulta on OmaSp after Q3. 
OmaSp’s Q3 result was slightly lower than our expectations, which was explained by decreased revenues. Cost development, on the other hand, was encouraging, which also led to an increase in our earnings forecasts. However, against a subdued profitability and growth outlook, the share’s pricing does not offer an attractive return expectation to counterbalance the still elevated risks. We reiterate our reduce recommendation, but raise our target price to EUR 10.0 (previously EUR 8.5) in line with our earnings forecasts.
Quoted from the report:
Stabilization was seen in the quality of the loan portfolio
Credit losses were well in line with our expectations. Thus, the moderation seen in the previous quarter continued. Credit losses were still quite high at EUR 10 million (0.69% of the loan portfolio). The weak economic situation and liquidity, especially in the SME sector, have thus kept credit loss amounts elevated.
On the other hand, no further deterioration was seen in the quality of the loan portfolio, and the amount of non-performing loans remained at 8.6% of the loan portfolio. Although far-reaching conclusions cannot yet be drawn from the development of a single quarter, the negative trend has nevertheless stabilized. In our estimation, however, the company must report decreasing or at most the observed level of credit losses for several quarters for market confidence in the stabilization of the company’s risks to improve