Pohjola's information included in OP-Pohjola Group capital adequacy figures
(Thomson Reuters ONE) -
Pohjola Bank plc
COMPANY ANNOUNCEMENT
8 December 2011 at 7.00 pm
Pohjola's information included in OP-Pohjola Group capital adequacy figures
The European Banking Authority (EBA) has updated its assessment concerning
banks' capital buffers on the basis of figures on 30 September 2011.
Of the Finnish banks, OP-Pohjola Group was included in the stress test exercise.
Given that Pohjola Bank plc is part of OP-Pohjola Group operating under the
principle of joint responsibility, its data are included in the test results.
According to EBA's estimate, OP-Pohjola Group is not required to take any action
to improve its capital adequacy because the Group's Core Tier 1 ratio is high
and the sovereign bond risks are low. OP-Pohjola Group's Core Tier 1 ratio was
11.1% on 30 September 2011, which was clearly above the minimum level of 9% set
by the EBA. Neither did the valuation of government bonds at market value in the
balance sheet under acquisition costs on 30 September 2011 create any need to
increase the amount of capital. OP-Pohjola Group member banks' direct
investments in PIIGS government bonds had a value of EUR 42 million on 30
September.
Pohjola Bank plc
Carina Geber-Teir
Chief Communications Officer
Additional information
Vesa Aho, CFO, tel. +358 (0)10 252 2336
Carina Geber-Teir, Chief Communications Officer, tel. +358 (0)10 252 8394
Distribution
NASDAQ OMX Helsinki
London Stock Exchange
Major media
pohjola.fi, op.fi
Pohjola Bank plc in brief
Pohjola Bank plc is a Finnish financial services group which provides its
customers with banking, non-life insurance and asset management services. Our
mission is to promote the prosperity, security and wellbeing of our customers.
Profitable growth and an increase in company value form our key objectives.
Pohjola Group serves corporate customers in Finland and abroad by providing an
extensive range of financial, investment, cash-management and non-life insurance
services. We offer non-life insurance and private banking services to corporate
customers. Pohjola Series A shares have been listed on the Large Cap List of the
NASDAQ OMX Helsinki since 1989. The number of shareholders totals around
35,000. Pohjola's consolidated earnings before tax came to 308 million euros in
2010 and the balance sheet total amounted to 36 billion euros on 31 December
2010. Pohjola is part of OP-Pohjola Group, the leading financial services group
in Finland which has over four million customers.
www.pohjola.fi
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Source: Pohjola Pankki Oyj via Thomson Reuters ONE
[HUG#1570071]
Unternehmensinformation / Kurzprofil:
Datum: 08.12.2011 - 18:03 Uhr
Sprache: Deutsch
News-ID 95309
Anzahl Zeichen: 3388
contact information:
Town:
POHJOLA
Kategorie:
Business News
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