Pohjola Pankki Oyj - Company Announcement

OP-Pohjola Group continues the planning of structural arrangements

Stock Exchange Release
OP-Pohjola Group Central Cooperative
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.


OP-Pohjola Group Central Cooperative

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


OP-Pohjola is Finland's leading financial services group providing a unique
range of banking, wealth management and insurance services. OP-Pohjola's mission
is to promote the sustainable prosperity, security and wellbeing of its
customer-owners, customers and operating regions. Its objective is to offer the
best and most versatile package of loyal customer benefits on the market. OP-
Pohjola Group consists of about 180 member cooperative banks, its central
institution OP-Pohjola Group Central Cooperative, and the latter's subsidiaries
and affiliates. The Group has a staff of 12,000.

As laid down in the applicable law, OP-Pohjola Group Central Cooperative and its
member credit institutions are ultimately jointly and severally liable for each
other's debts and commitments. The joint liability in the OP-Pohjola Group is
prescribed by the Act on the Amalgamation of Deposit Banks Act. Pohjola Bank plc
and OP Mortgage Bank are responsible for OP-Pohjola's funding operations on
money and capital markets.

Financial services provider OP-Pohjola 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. OP-Pohjola's name is OP
Financial Group as of 1 January 2015.
www.op.fi


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