OP Yrityspankki Oyj - Company Announcement

OP Financial Group's capital adequacy clearly exceeds the new minimum requirement set by the ECB

OP Corporate Bank plc
OP Cooperative
Stock exchange release
30 November 2016 at 2.30 pm

OP Financial Group's capital adequacy clearly exceeds the new minimum
requirement set by the ECB

The European Central Bank (ECB), functioning as OP Financial Group's banking
supervisor, has imposed on OP a capital buffer requirement as part of the
supervisory review and evaluation process (SREP). The capital buffer requirement
(P2R) is 1.75% and it will take effect on 1 January 2017. When taking account of
this capital buffer requirement, the new minimum for OP's CET1 ratio is 10.75%
and for its capital adequacy ratio 14.25%.

The ECB has set on OP Financial Group a capital adequacy guidance (P2G) of 1.0%
for the CET1 capital base. Failure to meet this guidance would not affect e.g.
profit distribution. This guidance included, the CET1 requirement is 11.75%.

The definition of capital buffer requirement to be set based on SREP has changed
during 2016. The previous SREP capital buffer requirement of 2.75% is now split
into P2R and P2G components and it is not comparable to the new capital buffer
requirement.

OP Financial Group's capital adequacy clearly exceeds the new minimum set. At
the end of September, OP Financial Group's CET1 ratio stood at 19.7% and the
capital adequacy ratio at 22.6%. The new minimum set by the ECB increases the
capital requirement based on the Act on the Supervision of Financial and
Insurance Conglomerates (FiCo), whereby the FiCo solvency falls by 16 percentage
points following the new capital buffer requirement. At the end of September,
the Fico solvency was 164% (minimum 100).

The SREP is part of normal banking supervision activities carried out by the
ECB, aiming to ensure that banks have sufficient risk management methods as well
as sufficient capital and liquidity to manage risks and cover risks.

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

For more information:
OP Communications, tel. +358 (0)50 523 9904, viestinta@op.fi

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

OP Financial Group is Finland's largest financial services group whose mission
is to create sustainable prosperity, security and wellbeing for its owner-
customers and in its operating region by means of its strong capital base and
efficiency. 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 1.7 million owner-customers and
4.3 million customers. www.op.fi

OP Corporate Bank and OP Mortgage Bank are responsible for OP's funding in money
and capital markets. As laid down in the applicable law, OP Corporate Bank, OP
Mortgage Bank and their 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. OP Corporate Bank acts as OP's central bank.


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