Pohjola Pankki Oyj - Company Announcement

Demerger plan of Pohjola Bank plc registered in the Trade Register

STOCK EXCHANGE RELEASE
Pohjola Bank plc
2 July 2015 at 5 p.m. EEST


Demerger plan of Pohjola Bank plc registered in the Trade Register

Pohjola Bank plc has signed a demerger plan, which has been registered in the
Trade Register. The final demerger decisions will be made in August 2015. The
planned demerger is part of the building of a new OP Financial Group owned by
its customers.

The reasons behind Pohjola Bank plc's demerger plans include increasing
operational efficiency, clarifying the group structure and streamlining
administration. In the partial demerger the central and corporate bank
activities, equities and non-life insurance will remain with Pohjola Bank plc.
All other operations of Pohjola Bank plc will be transferred to a new company to
be established. The business transferred to the new company includes wealth
management as well as card and property management functions.

A stock exchange release on the planning of the structural arrangement was
published on 14 November 2014. OP Financial Group's banking operations in their
entirety will continue to fall within the scope of joint liability as laid down
in the applicable law.

Joint liability within OP Financial Group


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



Pohjola Bank plc
Carina Geber-Teir
Executive Vice President of Corporate Communications
For more information, please contact:
OP Communications, media contacts, tel. +358 50 523 9904

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



Pohjola is part of Finland's leading customer-owned financial services group OP
Financial Group. Pohjola provides its customers with banking, non-life insurance
and asset management services. Pohjola acts as OP's central bank and is
responsible, together with OP Mortgage Bank, for OP's funding in the money and
capital markets. As laid down in the applicable law, Pohjola, its parent company
OP Cooperative and other OP Financial Group member credit institutions are
ultimately jointly and severally liable for each other's debts and commitments.
Joint liability within OP Financial Group is based on the Finnish Act on
Amalgamations of Deposit Banks (Laki talletuspankkien yhteenliittymästä,
599/2010).
www.pohjola.fi



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