Pohjola Pankki Oyj - Company Announcement

Pohjola to Redeem Upper Tier 2 Perpetual Subordinated Notes of EUR 150 million and GBP 100 million

Pohjola Bank plc
Stock Exchange Release
19 October 2012, 11.05 am

Pohjola Bank plc to Redeem Upper Tier 2 Perpetual Subordinated Notes of  EUR
150 million and  GBP 100 million

Pohjola Bank plc (Pohjola) will redeem Upper Tier 2 perpetual subordinated notes
of EUR 150 million and GBP 100 million.

Pohjola issued the 150-million-euro notes in November 2005. The notes have no
fixed maturity date under their terms and conditions, but the issuer may execute
early redemption in November 2012 with the Finnish Financial Supervisory
Authority's permission.

Pohjola issued the 100-million-pound notes in June 2007. The notes have no fixed
maturity date under their terms and conditions, but the issuer may execute early
redemption in December 2012 with the Finnish Financial Supervisory Authority's
permission.

These two notes are listed on the London Stock Exchange.

On 30 June 2012, Pohjola Group's capital adequacy ratio under the Act on Credit
Institutions stood at 13.9%, Core Tier 1 ratio at 9.8%, Tier 1 ratio at 11.6%
and the capital adequacy ratio under the Act on the Supervision of Financial and
Insurance Conglomerates at 1.76.

The aforementioned redemptions will reduce Pohjola Group's capital adequacy
ratio (pro forma) under the Act on Credit Institutions by 1.9 percentage points
and that under the Act on the Supervision of Financial and Insurance
Conglomerates by 0.21. The redemptions will have no effect on the Core Tier 1
and Tier 1 ratios.

Pohjola Group is part of OP-Pohjola Group. On 30 June 2012, OP-Pohjola Group's
capital adequacy ratio under the Act on Credit Institutions stood at 15.5%, Core
Tier 1 ratio at 14.7%, Tier 1 ratio at 15.1% and the capital adequacy ratio
under the Act on the Supervision of Financial and Insurance Conglomerates at
2.01.

The aforementioned redemptions will reduce OP-Pohjola Group's capital adequacy
ratio under the Act on Credit Institutions and Tier 1 ratio (pro forma) by 0.8
percentage points, Core Tier 1 ratio by 0.4 percentage points and the capital
adequacy ratio under the Act on the Supervision of Financial and Insurance
Conglomerates by 0.09.

Pohjola Bank plc

Carina Geber-Teir
Chief Communications Officer

For more information, please contact:
Vesa Aho, CFO, tel. +358 (0)10 252 2336
Hanno Hirvinen, Executive Vice President, tel. +358 (0)10 252 2221
Niina Pullinen, Senior Vice President, Investor Relations, tel. +358 (0)10
252 4494

Distribution
NASDAQ OMX Helsinki Ltd
LSE London Stock Exchange
SIX Swiss Exchange
Major media
op.fi and pohjola.com


Pohjola is a Finnish financial services group which provides its customers with
banking, non-life insurance and asset management services. Our mission is to
promote the prosperity, security and wellbeing of our customers. Profitable
growth and an increase in company value form our key objectives. Pohjola Group
serves corporate customers in Finland and abroad by providing an extensive range
of financial, investment, cash-management and non-life insurance services. We
offer non-life insurance and private banking services to corporate customers.
Pohjola Series A shares have been listed on the Large Cap List of the NASDAQ OMX
Helsinki since 1989. The number of shareholders totals around 34,000. Pohjola's
consolidated earnings before tax came to 258 million euros in 2011 and the
balance sheet total amounted to 41 billion euros on 31 December 2011. Pohjola is
part of OP-Pohjola Group, the leading financial services group in Finland, which
has over four million customers.


[HUG#1650618]