Private Banking

Asset management by agreement in OP-Pohjola Group is provided by the OP-Private units of local cooperatives and Helsinki OP Bank Plc, as well as Pohjola Private. OP-Pohjola Group offers signatories of a Private Banking agreement comprehensive and personalised service, as well as access to its own and its partners' product and service offering. The related service models are asset management under full power of attorney, and investment consultation.

In 2011, the number of customers rose considerably, by 1,685 or 14% to 13,760 at the year-end. Assets managed totalled EUR 6,221 million at the end of 2011, down by 10.7% year on year due to dramatic fluctuations in the share and interest markets.

Determined efforts were made to develop the Private Banking services, translating into higher points scored for overall customer satisfaction, service commitment, and services provided by the personal asset manager.

With 36 locations at the year-end, the OP-Pohjola Group runs Finland's largest Private Banking network. New units launched operations in 2011 in Varkaus, in Tapiola, Espoo, and in Tikkurila, Vantaa. The regional cooperation model used in the network makes the OP-Private service available to all local cooperative bank customers.

Private Banking customers

2010 2011 Change Change-%
OP-Private, funds managed, € mill. 3,567 3,421 -146 -0.041
OP-Private, no. of customers 10,893 12,554 1,661 0.152
Pohjola Private
Pohjola Private, funds managed, € mill. 3,400 2,800 -600 -0.176
Pohjola Private, no. of customers 1,182 1,206 24 0.02
funds managed, € mill. 6,967 6,221 -746 -10.7
Number of customers 12,075 13,760 1,685 0.14


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