2013 in brief

  • The Group’s earnings before tax increased by 20% to EUR 705 million (586).
  • Earnings before tax in the last quarter amounted to EUR 91 million (104), eroded by changes in the calculation bases of Non-life Insurance’s insurance liability worth EUR 38 million.
  • Banking improved earnings before tax towards the year and but they were, however, slightly lower than a year ago.
  • A decrease in net interest income slowed down and the fourth-quarter net interest income was already clearly higher than the year before.
  • Non-life Insurance improved its earnings before tax by 82%.
  • Wealth Management earnings before tax improved by 12%.
  • Total income increased by 6% and total expenses, excluding the bank levy, decreased by 1%.
  • The Core Tier 1 ratio before the transition provisions improved markedly, being 17.3% (14.8) on 31 December.
  • The Group strengthened its market position on a wide front. The loan portfolio grew by 4.8%, deposits by 5.2%, mutual fund assets by 20% and non-life insurance premiums written by 11%.
  • The number of joint banking and non-life insurance customers increased by 94,000 in the year to December.
  • New, more challenging capital adequacy and profitability targets have been confirmed for OP-Pohjola Group.
  • Earnings before tax in 2014 are expected to be higher than in 2013. For more information, see “Outlook for 2014”.
  • The central institution of OP-Pohjola Group decided on 6 February 2014 to make a voluntary public bid for all shares issued by Pohjola Bank plc.

OP-Pohjola Group's key indicators



2013 2012 Change, %
Earnings before tax, € million 705 586 20.4

Banking 411 424 -3.1

Non-life Insurance 167 92 81.7

Wealth Management 113 101 12.1

Returns to owner-members and OP bonus customers 193 192 0.7

31 Dec 2013 31 Dec 2012 Change, %
Core Tier 1 ratio before the transition provisions, % 17.3 14.8 2.5*
Core Tier 1 ratio, % 14.3 14.1 0.2*
Ratio of capital base to minimum amount of capital base ** 1.90 1.90 0.00*
Ratio of non-performing receivables to loan and guarantee portfolio, % 0.42 0.46 -0.04*
Joint banking and insurance customers (1,000) 1,518 1,425 6.6

* Change in ratio

** Under the Act on the Supervision of Financial and Insurance Conglomerates

 
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