Corporate social responsibility (CSR) is an essential part of OP-Pohjola Group’s operations and strategy. It is founded on cooperative ideals, our values, our financial solvency and our capable risk management. Our CSR measures encompass economic, social and environmental responsibility. Our aim is to be a pioneer in CSR within our sector in Finland.

Quick help from Omasairaala

The Omasairaala hospital based in Pikku Huopalahti, Helsinki, delivers on its promise. This is what Olli Rimpiläinen thinks, a man who broke his collarbone on a downhill slope.

- I have suffered all kinds of minor injuries when snowboarding. Compared with my previous experience of hospitals, the service provided by Omasairaala is faster and smoother. Everything here goes as scheduled and I have not even once had to sit and wait for treatments, says he.

Olli was injured during the last day of his downhill vacation in Italy. Immediately after the trip, Olli called Pohjola which recommended Omasairaala specialising in orthopaedic illnesses and injuries. He could make an appointment with a doctor for Tuesday and was already on an operating table on Wednesday.

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Fund saving, a way to support the protection of small rivers and lakes

OP-Clean Water Fund is an equity fund that invests funds globally in companies offering products and services in the water sector.

"Scarcity of clean water and the challenges of water distribution are cause for concern, but they also create business opportunities. This is why the fund appeals to savers and investors alike, with its nature preservation theme and also financially," explains Samuli Sipilä, Managing Director of OP Fund Management Company.

In the spring of 2013, we introduced a philanthropic share class alongside the accumulation and distribution units, enabling OP-Pohjola Group and the unitholders to jointly help protect water resources. Investors in mutual funds have welcomed this warmly, and by the end of 2013, more than EUR 200,000 had been invested in the philanthropic units.

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KPIs of Corporate Social Responsibility Programme Objectives

2011 2012 2013 2014 2016
Local presence and society
Capital Adequacy Ratio under the Act on the Supervision of Financial and Insurance Conglomerates 1.80 1.90 1.90 1.6 1.6
Customer service performance reliability (%) 99.78 99.96 99.97 99.89 99.89
Funding local projects (EUR mill.) 3.3 3.1 2.6*
Stakeholder responsibility
Bonuses to owner-members (EUR mill.)1 163 173 182
Pohjola Bank plc's dividend payout ratio (%)2 60 51 50** ≥ 50 ≥ 50
Average retirement age3 61.5 61.5 61.6
Job satisfaction (scale 1–5) 3.9 3.9 3.9
Share of member banks with Representative Assembly of all member banks (%) 71 78 83***
Responsible products and services
Private customers' eBills (1,000 pcs) 2,955 4,981 13,200 22,000 30,000
Corporate customers' eBills (1,000 pcs) 5,519 7,388 9,200 25,000 32,000
Omasairaala hospital: quicker treatment period (days)4 43****
Ethical business
Recommended by private customers5 ***** 58.0

Banking services 73
Insurance services 54
Recommended by corporate customers (Net Promoter Score)6 31 32

Banking services 38
Insurance services 12
Carbon footprint of the Group's own operations (tons of CO2) 34,847 32,743 35,003
-0.01 -5% from previous year
Number of employees in Green Offices 2,550 2,815 2,493 3,000 5,000


1 Bonuses accumulated

2 Dividend policy: dividend payout ratio at least 50%, provided that Core Tier 1 ratio remains at least 10%. The Executive Board, which acts as the Board of Directors of OP-Pohjola Group Central Cooperative, Pohjola Bank plc's parent institution, has proposed on 6 January 2014 to the Board of Directors of Pohjola Bank plc that Pohjola Group's dividend payout ratio be decreased from 50% to 30% as of dividend distribution for the financial year 2014 until the CET1 ratio reaches the new target of 15%. Pohjola Bank plc's Board of Directors will assess the proposals before the Annual General Meeting of 20 March 2014.

3 Does not include Seesam insurance companies

4 Hospital opened in 2013.

5 & 6 A minor specification was added in 2013: the respondents were told that on a scale 0-1, 5=neutral. In addition, the score for banking and insurance activities is reported separately.

* In 2013, a decision was made to donate EUR 1 million to the new Childrens' hospital. The payment is spread over 2013-2017.

** Proposal of the Board of Directors.

*** The first simultaneous election of Representative Assemblies were held in 62 Group cooperative banks in the autumn of 2013. OP-Pohjola’s Supervisory Board has set the target of 90% for 2017.

****Average of the treatment and recovery period (= total disability period) for three so-called standard operations in bodily injuries under statutory workers’ compensation insurance treated with the relevant standard operation.

***** No comparable history information from 2011.

****** Scope 1 and 2. The reported increase in the carbon footprint of OP-Pohjola's own activities was largely due to a more extensive data compilation on member banks' property.