Pohjola Pankki Oyj - Company Announcement

Technical Change in Pohjola Group's Financial Targets by Segment

Pohjola Bank plc	Company Release                                               
Release category: Stock Exchange Release                                     
25 November 2008 at 3.45 pm                                                  

Technical Change in Pohjola Group's Financial Targets by Segment                

In May 2008, Pohjola Group adopted a new organisational structure and changed   
its financial reporting to be in line with this new structure as of the         
beginning of the second quarter of 2008. Instead of the Group's previous two    
business segments, its organisation currently comprises the following three     
business segments and the Group Functions: Banking, Asset Management and        
Non-life Insurance.                  

The new segment reporting will have no effect on Pohjola Group's reported       
figures and the Group has not revised its financial targets, i.e. the           
reorganisation of the segments have resulted in a technical change to correspond
to the new segments.                                                            

The table below shows operational targets for 2010 by segment, based on the     
previous and current segments.                                                  

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|                               |  Targets for 2010 |    |    Targets for 2010 |
|                               |             under |    |               under |
--------------------------------------------------------------------------------
|                               | previous segments |    |    current segments |
--------------------------------------------------------------------------------
| Group                         |                   |    |                     |
--------------------------------------------------------------------------------
| Return on equity at fair      |                15 |    |                  15 |
| value, %                      |                   |    |                     |
--------------------------------------------------------------------------------
|     Tier 1                    |             > 8.5 |    |               > 8.5 |
--------------------------------------------------------------------------------
|                               |                   |    |                     |
--------------------------------------------------------------------------------
| Banking and Investment        |                   |    |                     |
| (previous segment)            |                   |    |                     |
--------------------------------------------------------------------------------
| Operating return on equity    |              > 19 |    |                 - - |
| (ROE), %                      |                   |    |                     |
--------------------------------------------------------------------------------
| Operating cost/income ratio,  |              < 40 |    |                 - - |
| %                             |                   |    |                     |
--------------------------------------------------------------------------------
|                               |                   |    |                     |
--------------------------------------------------------------------------------
| Banking (new segment)         |                   |    |                     |
--------------------------------------------------------------------------------
| Operating return on equity    |               - - |    |                > 14 |
| (ROE), %                      |                   |    |                     |
--------------------------------------------------------------------------------
| Operating cost/income ratio,  |               - - |    |                < 40 |
| %                             |                   |    |                     |
--------------------------------------------------------------------------------
|                               |                   |    |                     |
--------------------------------------------------------------------------------
| Asset Management (new         |                   |    |                     |
| segment)                      |                   |    |                     |
--------------------------------------------------------------------------------
| Operating cost/income ratio,  |               - - |    |                < 50 |
| %                             |                   |    |                     |
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
| Non-life Insurance            |                   |    |                     |
--------------------------------------------------------------------------------
| Operating return on equity    |              > 20 |    |                > 20 |
| (ROE), %                      |                   |    |                     |
--------------------------------------------------------------------------------
|  Operating combined ratio, %  |                92 |    |                  92 |
--------------------------------------------------------------------------------
|     Operating expense ratio   |              < 20 |    |                < 20 |
--------------------------------------------------------------------------------
|     Solvency ratio            |                70 |    |                  70 |
--------------------------------------------------------------------------------

Pohjola Bank plc                                                                
Markku Koponen                                                                  
Senior Vice President                                                           

For more information, please contact: Mikael Silvennoinen, President and CEO,   
tel. +358 (0)10 252 2549                                                        

Distribution                                                                    
NASDAQ OMX Helsinki                                                             
London Stock Exchange                                                           
SWX Swiss Exchange                                                              
Major media                                                                     
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