Pohjola Pankki Oyj - Company Announcement

Pohjola Bank plc not to redeem its 60-million euro hybrid bond on the first possible early repayment date

Pohjola Bank plc
Stock exchange release
16 October 2015 at 11.00 am

Pohjola Bank plc not to redeem its 60-million euro hybrid bond on the first
possible early repayment date

Pohjola Bank plc issued a hybrid bond of EUR 60 million included in additional
tier 1 capital (AT1) in November 2005. According to the bond terms and
conditions, the bond has no maturity date, but the issuer may, with the
regulator's permission, execute early redemption for the first time in November
2015 and thereafter on any interest payment date.

Pohjola Bank plc will not redeem the hybrid bond on the first possible early
repayment date due to an interpretation change related to the formalities in the
permission application. This change prevented from handling the case in such a
way that the bond redemption process could not be executed on schedule.


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


For more information, please contact:
Harri Luhtala, CFO, tel. 358 (0)10 252 2433
Elina Ronkanen-Minogue, Head of Asset and Liability Management and Group
Treasury, tel. +358 (0)10 25 28767
Lauri Iloniemi, Head of Group Funding, tel. +358 (0)10 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 liability
within OP Financial Group is based on the Finnish Act on Amalgamations of
Deposit Banks (Laki talletuspankkien yhteenliittymästä)
www.pohjola.com





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