Eastern European Markets
October, 5. 2005

Sampo Bank is planning to start banking operations in Russia

Sampo Bank, part of Sampo Group, has begun preparations to offer banking services in Russia. The goal is to offer selected banking services by the end of 2006

"We have built up a fairly strong position in the Baltic countries by transferring our expertise there in several areas. Now that Russian households are becoming more affluent and legislation has been improved, we wish to utilise this experience in Russia, too. We are interested both in Nordic customers that are operating in Russia and in Russian households", says Mika Ihamuotila, President, Head of Banking in Sampo.

Sampo Bank has appointed Edvins Korneliuss, Managing Director of Sampo Bank's subsidiary bank in Latvia, as Head of Russian Operations. Korneliuss, who joined Sampo from SEB, has experience of the tasks involved in starting banking operations in Russia.

For further information:
Mika Ihamuotila, President, Head Of Banking
tel. +358 10 516 0006
Hannu Vuola, Head of Group Communications, Sampo
tel. +358 10 516 0040 *
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