Pohjola Pankki Oyj - Company Announcement

Pohjola Capital Markets Day: Pohjola to present its further specified cost-cutting targets and capital strategy

Pohjola Bank plc
Stock Exchange Release
21 November 2012 at 11.00 am

Pohjola Capital Markets Day of 21 November 2012: Pohjola to present its further
specified cost-cutting targets and capital strategy

Today on 21 November 2012, Pohjola will hold in London its Capital Markets Day
for investors and analysts, where it will present the revised Group strategy and
financial targets.
President and CEO Mikael Silvennoinen will present the Group's updated strategy
and financial targets at the event. He will also specify the schedule for the
realisation of cost savings that Pohjola Bank plc seeks to achieve through the
reorganisation programme published by Pohjola Bank plc on 19 September 2012.
Pohjola expects to achieve an estimated 50% of the total annual cost savings of
50 million euros in 2013, 30% in 2014 and the rest by the end of 2015. Non-life
Insurance is anticipated to account for over 60% of the source of the cost
savings, Banking for slightly over 30% and Asset Management for the rest.

In addition, President and CEO Mikael Silvennoinen will present Pohjola Group's
capital strategy. As a new subject, he will present the solvency capital
requirement for Non-life Insurance based on the Solvency II regulatory
framework. The Solvency II regulations are still being processed, and are
estimated to come into effect at the beginning of 2015 at the earliest. The
solvency capital requirement for Non-life Insurance under Solvency II would have
amounted to 674 million euros (pro forma) based on underwriting and investment
risks on 30 September 2012. Non-life Insurance's solvency capital amounted to
925 million euros on 30 September 2012 under the existing regulatory framework
(Solvency I).

CFO Vesa Aho will present an overview of the funding and liquidity position.
Reima Rytsölä, Head of Banking, will present the Banking strategy with the theme
entitled "Leveraging strengthened customer relationships". Jouko Pölönen, Head
of Non-life Insurance, will present the Non-life Insurance strategy with the
theme entitled "Cross-selling as value driver". Karri Alameri, Head of Asset
Management, will present the Asset Management strategy with the theme entitled"Value through integration".

The CMD event can also be viewed as live webcast via the internet at
www.pohjola.com > Investor Relations. It is also possible to submit questions
via an email link on the webcast site. The recorded presentations will be
available on the Investor Relations site on Thursday 22 November at the latest.
Pohjola Bank plc

Carina Geber-Teir
Chief Communications Officer

For more information, please contact:
Vesa Aho, CFO, tel. +358 (0)10 252 2336
Niina Pullinen, Senior Vice President, Investor Relations, tel. +358 (0)10
252 4494
DISTRIBUTION:
NASDAQ OMX Helsinki Ltd
London Stock Exchange
SIX Swiss Exchange
Major media
www.pohjola.com, www.op.fi


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 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 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.

www.pohjola.com


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