S&P affirms Pohjola Bank plc's credit ratings and raises Pohjola Insurance Ltd's rating, stable outlook
Pohjola Bank plc
STOCK EXCHANGE RELEASE
9 Dec 2011 at 8.00 am EET
Standard & Poor's Ratings Services affirmed on 8 December 2011 Pohjola Bank plc's long-term counterparty rating at 'AA-' and short-term counterparty rating at 'A-1+', considering the outlook as stable. Standard & Poor's also raised Pohjola Insurance Ltd's rating from 'A+' to 'AA-'.
Affirming Pohjola Bank plc's credit rating is part of Standard & Poor's more extensive analysis of the banking sectors both globally and in Europe, and their change of methodology. Standard & Poor's emphasises that Pohjola's rating reflects its strong business position, strong capital and earnings.
Pohjola Bank plc
Carina Geber-Teir
Chief Communications Officer
For more information, please contact:
Vesa Aho, CFO, tel. +358 (0)10 252 2336
Carina Geber-Teir, Chief Communications Officer, tel. +358 (0)10 252 8394
Distribution
NASDAQ OMX Helsinki
London Stock Exchange
SWX Swiss Exchange
Major media
op.fi and pohjola.fi
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 35,000. Pohjola's consolidated earnings before tax came to 308 million euros in 2010 and the balance sheet total amounted to 36 billion euros on 31 December 2010. Pohjola is part of OP-Pohjola Group, the leading financial services group in Finland with over four million customers.