Owned by its customers, OP has served its banking and wealth management customers for more than 120 years. A part of the financial services group is Pohjola Insurance, with Pohjola being an established brand that has been a part of Finnish economic history for over 130 years. The name OP Pohjola combines these two strong brands. The name change will enter into force on 28 October 2025. There will be no changes in the names of OP cooperative banks or other companies belonging to OP Pohjola.
– The new name OP Pohjola highlights our exceptionally broad service offering. We are the only provider in Finland that can offer customers all the banking, insurance and wealth management products and services they need, all in one place. The name change comes naturally now that we revamp the benefits package of our owner-customers, says Timo Ritakallio, OP Pohjola's President and Group Chief Executive Officer.
OP Pohjola's renewed benefits package for its 2.1 million owner-customers will enter into force on 1 January 2026. The renewal introduces changes to the bonus scheme and other owner-customer benefits.
– From the beginning of 2026, owner-customers will benefit even more from using a wide range of OP Pohjola's banking, wealth management and insurance services. A wider range of our services will contribute towards OP bonuses and we will also increase the amount of the bonuses received. Another significant change is that we will give our owner-customers freedom of choice: in future, they can choose what they use their OP bonuses for, says Ritakallio.
Freedom of choice gives the customers flexibility to use the benefits as they prefer. Like before, the customers can continue to pay for their service charges and insurance premiums with OP bonuses. What is new, however, is that owner-customers can now invest OP bonuses in funds.
One of the factors behind the renewal is the change in the taxation of OP bonuses that will take effect on 1 January 2026.
– OP bonuses will become subject to capital income tax from the start of 2026. Previously, the owner-customer bonus was 0.25%, next year it will be 0.40%. This compensates for the effect of the capital income tax – the increase is actually a little higher than the effect of the withholding tax. After the withholding of capital income tax, the bonus rate earned by customers will be 0.28% instead of the previous 0.25%, notes Ritakallio.
Since 1999, more than EUR 4 billion in OP bonuses have been paid to owner-customers. In 2024, the total amount of OP bonuses paid was EUR 314 million.
Media enquiries:
OP Pohjola Communications, tel. 010 252 8719, viestinta@op.fi
