Finland-based system provider Tietoevry aims to carve out its Banking portfolio as a standalone entity, spin it off and possibly list its share for public trade in the second half of 2023.

“The aim is to accelerate growth profile, scale and profitability of Tietoevry Banking, and enhance its strategic and financial flexibility to drive value creation for all stakeholders. Current shareholders of Tietoevry would also benefit from capital markets recognising the full value of the Banking business,” writes the Tietoevry group, in a separate press release coinciding with its financial disclosures for the first half of 2022.

With 3,600 experts, the Banking business turns over close to €500 million a year.