Structure and Governance of OP-Pohjola Group
OP-Pohjola Group comprises the amalgamation of the cooperative banks and those companies of which entities belonging to the amalgamation hold more than half of the total votes.
The most important of these are the insurance companies with which the amalgamation forms a financial and insurance conglomerate.Read more: Legal structure of OP-Pohjola Group.
Amalgamation of Cooperative Banks
The amalgamation of cooperative banks is an amalgamation of deposit banks, as referred to in Laki talletuspankkien yhteenliittymästä (Act on the Amalgamation of Deposit Banks).
The amalgamation consists of its central institution, OP-Pohjola Group Central Cooperative; companies and member credit institutions belonging to the Central Cooperative's consolidation group and, further, companies belonging to their respective consolidation groups; and credit institutions and service companies in which the above-mentioned entities jointly hold more than half of the votes.
The minimum consolidated capital requirement for and liquidity of the companies within the amalgamation of cooperative banks is controlled on a consolidated basis. The Central Institution is liable for its member credit institutions’ debts, and the member credit institutions are jointly and severally liable for each other’s debts.