OP-Pohjola Group in brief

OP-Pohjola Group combines banking and non-life insurance business in a new, innovative way appreciated by customers. As Finland's largest financial services group, we provide the most extensive and diversified range of banking, investment and insurance services. OP-Pohjola Group is made up of over 200 member cooperative banks and OP-Pohjola Group Central Cooperative which they own, including its subsidiaries and closely related companies. Pohjola Bank plc and OP-Services Ltd number among the most important subsidiaries. The Group has three business segments: Banking and Investment Services, Life Insurance and Non-life Insurance. Its earnings before tax came to EUR 575 million in 2010.

OP-Pohjola Group's operations are based on the cooperative movement, and the Group's mission is to promote the prosperity, wellbeing and security of its owner-members, customers and operating regions through its local presence. The fundamental objective of cooperative operations is to provide the services needed by the cooperative's members and customers as competitively as possible. Benefits and added value from cooperative member banks' business are, moreover, channelled to owner-members through the customer relationship, for instance in the form of OP bonuses. In 2010, we paid EUR 151 million as OP bonuses to our customers.

The Group has 4.2 million customers, of which 1.3 million are owner-members of Group member cooperative banks. The number of customers who have concentrated their banking and insurances with the Group total over 1.1 million. In addition, the Group has some 200,000 non-life insurance customers in the Baltic countries.
At the end of 2010, OP-Pohjola Group had a staff of 12,504. The Group has 554 branch offices in Finland, some 323 of which provide both banking and non-life insurance services.

Group member cooperative banks

Our banks are owned by our customers. A member cooperative bank is an independent, local deposit bank engaged in retail banking. There are over 200 member cooperative banks. In terms of their corporate form, they are cooperatives where decisions are made under a "one member, one vote" principle. Member banks provide modern and competitive banking services to their customers, who have the opportunity, through owner-emebership, to participate in the bank's administration and decision-making.

What is now OP-Pohjola Group goes back to 14 May 1902, when the Central Lending Fund of the Cooperative Societies Limited Company was established. The first local cooperative credit societies were founded in autumn 1902, and became cooperative banks in 1970. The then OKO Bank plc's A-shares were listed on Helsinki Stock Exchange in 1989. OP-Pohjola Group's modern-day cooperative model and the then OP Bank Group Central Cooperative were formed in 1997. Non-life insurance became a new business area with the acquisition of listed company Pohjola Non-Life Insurance Company in 2005.

OP-Pohjola Group Central Cooperative

OP-Pohjola Central Cooperative is the central institution of the amalgamation of the cooperative banks, tasked with supervising and controlling the Group's business in line with the jointly agreed strategy, profitably and through effective risk management, as well as in compliance with the shared rules and legal requirements. It also analyses the operating environment, collects information on financial sector changes and markets and answers for the Group's corporate image, reputation, identity and brand while building the Group's shared trustworthiness.  

OP-Services Ltd

OP-Services Ltd, a subsidiary wholly owned by OP-Pohjola Group Central Cooperative, is in charge of the development, production and maintenance of the Group's products and services. The company provides companies within the Group with business development and ICT services and services for business process management, such as ensuring the effective performance of online services and Contact Centre services, the smooth operations of banking and investment services and the production of various materials.

The company's top experts develop the best financial solutions, implement them and also ensure their performance and quality.

Pohjola Bank plc

Pohjola Bank plc is the most important subsidiary of OP-Pohjola Group Central cooperative. Pohjola is a listed financial services group providing banking, non-life insurance and asset management services. For Finnish and global corporate customers, Pohjola Bank Group provides comprehensive finance, investment, cash management and non-life insurance services.

For private customers, it offers non-life insurance and asset management services.
Acting as OP-Pohjola Group's central bank, Pohjola manages the Group's liquidity and international operations. Pohjola's A-shares are listed on NASDAQ OMX Helsinki. There are around 35,000 shareholders.

Pohjola Insurance Ltd is a subsidiary of Pohjola Bank plc. It engages in non-life insurance operations in Finland, offering comprehensive insurance cover for private, corporate and institutional customers. Pohjola Bank Group's non-life insurance operations comprise not only Pohjola Insurance, but also A-Insurance, Eurooppalainen, and the Seesam companies operating in the Baltic countries.

historia 2010 


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