Pohjola Pankki Oyj - Company Announcement

OP-Pohjola Group continues the planning of structural arrangements

Stock Exchange Release
Pohjola Bank plc
14 November 2014, at 12:00 p.m.

OP-Pohjola Group continues the planning of structural arrangements

OP-Pohjola Group Central Cooperative continues the planning of the structural
reforms of OP-Pohjola Group Central Cooperative Consolidated. The changes are
part of the rebuilding of the new OP-Pohjola, owned by its customers.

The new operational management system of OP-Pohjola Group took effect on 1
October 2014.The process of planning and examination of different options
regarding the restructuring of OP-Pohjola Group Central Cooperative Consolidated
and the implementation of legal structures of the organisation is still ongoing.
In the context of further planning of the restructuring, the separation of OP-
Pohjola Group's central banking operations, being presently part of Pohjola Bank
plc, as a detached subsidiary fully owned by OP-Pohjola Group Central
Cooperative, is also under consideration. OP-Pohjola Group's banking operations
in their entirety will continue to fall within the scope of joint liability as
laid down in the applicable law. No decisions have been made with respect to the
specific manner of implementation or schedule of any restructuring measures.

Joint Liability within OP-Pohjola Group
Joint liability within OP-Pohjola Group is based on the Finnish Act on
Amalgamations of Deposit Banks (Laki talletuspankkien yhteenliittymästä,
599/2010). According to this Act, OP-Pohjola Group Central Cooperative, the
Group's central institution, and its member credit institutions are liable for
each other's debts and commitments. This joint liability applies to OP-Pohjola
Group Central Cooperative, OP-Pohjola Group member cooperative banks, Pohjola
Bank plc, Helsinki OP Bank Plc, OP Mortgage Bank, OP Card Company plc and OP
Process Services Ltd. Other OP-Pohjola Group companies, such as insurance
companies, do not fall within the scope of joint liability.

Pohjola Bank plc
Carina Geber-Teir
Chief Communications Officer

For more information:
OP-Pohjola Communications, media contacts, tel. +358 (0)50 523 9904

DISTRIBUTION
NASDAQ OMX Helsinki
LSE London Stock Exchange
SIX Swiss Exchange
Major media
op.fi, pohjola.fi

Pohjola is part of Finland's leading customer-owned financial services group OP-
Pohjola Group. Pohjola provides its customers with banking, non-life insurance
and asset management services. Pohjola acts as OP-Pohjola Group's central bank
and is responsible, together with OP Mortgage Bank, for the Group's funding in
the money and capital markets. As laid down in the applicable law, Pohjola, its
parent company OP-Pohjola Group Central Cooperative and other OP-Pohjola Group
member credit institutions are ultimately jointly and severally liable for each
other's debts and commitments. Joint liability within OP-Pohjola Group is based
on the Laki talletuspankkien yhteenliittymästä Act (Act on the amalgamation of
deposit banks). Financial services provider OP-Pohjola Group is continuing its
revamp - this time the focus is on its brand. The changes under way form part of
the creation of a new financial services group fully owned by its customers. As
of 1 January 2015, OP-Pohjola Group will be called OP Financial Group.
www.pohjola.com


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