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.


OP-Pohjola Group Central Cooperative 100 0.0 0.0 100

Pohjola Bank plc 16.0 37.5 53.5

Pohjola Insurance Ltd 100 100

Eurooppalainen Insurance Company Ltd 100 100

Seesam Insurance AS 100 100

Pohjola Health Ltd 100 100

Omasairaala Oy 100 100

A-Insurance Ltd 100 100

Pohjola Asset Management Ltd 100 100

Pohjola Asset Management Execution Services Ltd 100 100

PAM USA Funds Ltd 100 100

Pohjola Property Management Ltd 100 100

Pohjola Finance Estonia As 100 100

Pohjola Finance SIA 100 100

UAB Pohjola Finance 100 100

OP Life Assurance Company Ltd 15.0 76.0 9.0 100

Aurum Investment Insurance Ltd 100.0 100

Helsinki OP Bank Plc 100.0 100

OP-Kotipankki Oyj 60.7 22.5 16.9 100

OP Mortgage Bank 100.0 100

OP Fund Management Company Ltd 100.0 100

OP-Services Ltd 100.0 100

OP Process Services Ltd 100.0 100
OP Bank Group Mutual Insurance Company 78.5 21.5 100

Member cooperative banks account for 13.4% and OP-Pohjola Group Central Cooperative for 61.3% of Pohjola Bank plc’s votes.

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.