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2008-11-25 14:45:14 CET 2008-11-25 14:46:14 CET REGULATED INFORMATION Pohjola Pankki Oyj - Company AnnouncementTechnical Change in Pohjola Group's Financial Targets by SegmentPohjola 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. -------------------------------------------------------------------------------- | | 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 op.fi and pohjola.fi |
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