OP-prime down to 0.45 per cent

OP Financial Group

Press Release

9. February 2016

OP Financial Group will cut its OP-prime rate from 0.60% to 0.45%, effective as of 23 February 2016. The rate reduction is based on lower market interest rates.

The OP-prime rate is a reference interest rate which is used to regulate OP Financial Group's borrowing and lending rates. The OP-prime rate was last changed in May 2015.

FOR MORE INFORMATION, PLEASE CONTACT:
Reijo Heiskanen, Chief Economist, tel. 010 252 8354

OP Financial Group is Finland's leading financial services group providing a unique range of banking, wealth management and insurance services. OP Financial Group's mission is to promote the sustainable prosperity, security and wellbeing of its owner-customers, customers and operating regions through its local presence.  Its objective is to offer the best and most versatile package of loyal customer benefits on the market. OP Financial Group consists of about 180 member cooperative banks, its central cooperative OP Cooperative, and the latter's subsidiaries and affiliates. The Group has a staff of 12,000 and 4.3 million customers.

As laid down in the applicable law, the member credit institutions and OP Cooperative are ultimately jointly and severally liable for each other's debts and commitments. Joint and several liability within OP Financial Group is based on the Laki talletuspankkien yhteenliittymästä Act (Act on the amalgamation of deposit banks). Pohjola Bank plc and OP Mortgage Bank are responsible for OP's funding on money and capital markets.