Pohjola Bank plc to Issue Lower Tier 2 Subordinated Notes of EUR 500 Million

Pohjola Bank plc
Stock exchange release
21 February 2012, 10.30 am

Pohjola Bank plc to Issue Lower Tier 2 Subordinated Notes of EUR 500 Million

Pohjola Bank plc will issue Lower Tier 2 subordinated notes of EUR 500 million on or about 28 February 2012. The notes have a maturity of 10 years and Pohjola will apply for the notes to be admitted to trading on the London Stock Exchange.

Under the terms and conditions of the notes, the issuer will have the opportunity for early redemption in case the principal cannot be counted as part of the bank's Tier 2 capital.

The notes will increase Pohjola Group's capital adequacy ratio (pro forma) by 3.3 percentage points, Tier 1 ratio by 1.7 percentage points and capital adequacy under the Act on the Supervision of Financial and Insurance Conglomerates by 0.25.

On 31 December 2011, Pohjola Group's capital adequacy ratio stood at 10.6%, Tier 1 ratio at 10.6% and capital adequacy under the Act on the Supervision of Financial and Insurance Conglomerates at 1.41.

Carina Geber-Teir
Chief Communications Officer

FOR MORE INFORMATION, PLEASE CONTACT
Vesa Aho, CFO, tel. +358 (0)10 252 2336
Lauri Iloniemi, Head of Funding, Central Banking and Group Treasury, tel. +358 (0)10 252 3541

DISTRIBUTION
NASDAQ OMX Helsinki
LSE London Stock Exchange
SIX Swiss Exchange
Major media
op.fi and pohjola.com

Pohjola Bank plc is a Finnish financial services group which provides its customers with banking, non-life insurance and asset management services. Our mission is to promote the prosperity, security and wellbeing of our customers. Profitable growth and an increase in company value form our key objectives. Pohjola Group serves corporate customers in Finland and abroad by providing an extensive range of financial, investment, cash-management and non-life insurance services. We offer non-life insurance and private banking services to corporate customers. Pohjola Series A shares have been listed on the Large Cap List of the NASDAQ OMX Helsinki since 1989. The number of shareholders totals around 34,000. Pohjola's consolidated earnings before tax came to 258 million euros in 2011 and the balance sheet total amounted to 41 billion euros on 31 December 2011. Pohjola is part of OP-Pohjola Group, the leading financial services group in Finland with over four million customers.