Pohjola Pankki Oyj - Company Announcement

OP Financial Group and Pohjola Bank plc withdraw from credit ratings by Fitch

Pohjola Bank plc
OP Cooperative
Stock Exchange Release
1 December 2015 at 10.30 am (EET)


OP Financial Group and Pohjola Bank plc withdraw from credit ratings by Fitch

On 30 November 2015, Pohjola Bank plc informed Fitch Ratings of terminating the
agreement related to the company's credit ratings so as to take effect at the
end of the current terms of agreement on 31 December 2015. Fitch has affirmed
credit ratings for both OP Financial Group and Pohjola Bank. At the time of
termination of the agreement, the long-term debt rating affirmed by Fitch is A+
and the short-term debt rating F1. The credit rating outlook is stable.

In future, Pohjola Bank plc will have credit ratings for long-term and short
term debt affirmed by Standard & Poor's Market Services Europe Ltd (AA-/A-
1+/negative outlook) and by Moody's Investors Service Ltd (Aa3/P-1/stable
outlook) which also affirm credit ratings for OP Mortgage Bank's covered bonds
and for Pohjola Insurance Ltd.

In their assessment of Pohjola Bank's credit rating, the rating agencies also
take account of the entire OP Financial Group's financial standing, considering
that the Group is monitored as a single entity and OP Cooperative, the central
cooperative, and Group member credit institutions are liable for each other's
debts and commitments.

Pohjola Bank plc
OP Cooperative
Carina Geber-Teir
Executive Vice President, Corporate Communications

For more information, please contact:
Elina Ronkanen-Minogue, Head of ALM and Group Treasury, tel. 010 25 28767
Lauri Iloniemi, Head of Group Funding, tel. 010 25 23541

Distribution
NASDAQ OMX Helsinki Ltd
LSE London Stock Exchange
SIX Swiss Exchange
Major media
op.fi and pohjola.com

Pohjola is part of Finland's leading customer-owned financial services group OP
Financial Group. It 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 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 and several
liability within OP is based on the Laki talletuspankkien yhteenliittymästä Act
(Act on the amalgamation of deposit banks).
www.pohjola.com

OP Financial Group is Finland's leading financial services group providing a
unique range of banking, wealth management and insurance services. OP's mission
is to promote the sustainable prosperity, security and wellbeing of its owner-
customers, customers and operating regions. Its objective is to offer the best
and most versatile package of loyal customer benefits on the market. OP
Financial Group consists of about 180 member cooperative banks, its central
cooperative OP Cooperative, and the latter's subsidiaries and affiliates. The
Group has a staff of 12,000 and 4.3 million customers.
www.op.fi

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