Pohjola Pankki Oyj - Company Announcement

Pohjola Bank plc to redeem Lower Tier 2 subordinated note of EUR 170 million

Pohjola Bank plc
Stock Exchange Release
15 February 2013, 11.35 am

Pohjola Bank plc to redeem Lower Tier 2 subordinated note of EUR 170 million

Pohjola Bank plc (Pohjola) will redeem Lower Tier 2 subordinated note of EUR
170 million, which it issued in March 2008. According to the terms and
conditions, the note was to mature in 25 March 2018 but with the Finnish
Financial Supervisory Authority's permission the issuer has the right to call in
the note early in March 2013.

The note is listed on the London Stock Exchange.

On 31 December 2012, Pohjola Group's capital adequacy ratio under the Act on
Credit Institutions stood at 13.1%, Tier 1 ratio at 12.4%, Core Tier 1 ratio at
10.6% and the capital adequacy ratio under the Act on the Supervision of
Financial and Insurance Conglomerates was 1.70.

The abovementioned redemption will reduce Pohjola Group's capital adequacy ratio
under the Act on Credit Institutions by 1.1 percentage points, 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 0.03 (pro forma). The
redemption will not change the Core Tier 1 ratio.

Pohjola Group is part of OP-Pohjola Group. On 31 December 2012, OP-Pohjola
Group's Core Tier 1 ratio was 14.1%. Excluding the effect of transitional
provisions limiting the benefit of risk-based measurement methods, the above
ratio was 14.8%. On 31 December 2012, the Tier 1 ratio and the capital adequacy
ratio under the Act on Credit Institutions were at the same level as the Core
Tier 1 ratio. On the same date, OP-Pohjola Group's capital adequacy ratio under
the Act on the Supervision of Financial and Insurance Conglomerates stood at
1.90.

The abovementioned redemption will reduce OP-Pohjola Group's Core Tier 1 Ratio
by 0.5 percentage points (pro forma). The other ratios above will also be
affected in the same way. The redemption will reduce OP-Pohjola Group's capital
adequacy ratio under the Act on the Supervision of Financial and Insurance
Conglomerates by 0.05 (pro forma).

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 Bank plc 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 private
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
32,000. Pohjola's consolidated earnings before tax came to 374 million euros in
2012 and the balance sheet total amounted to 45 billion euros on 31 December
2012. Pohjola is part of OP-Pohjola Group, the leading financial services group
in Finland with over four million customers.

www.pohjola.com

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