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Eastern European Markets

PRESS RELEASE
June the 21st, 2011

Pohjola to expand services in the Baltic region by opening
a branch office for corporate customers in Tallinn

Pohjola will expand its services in the Baltic region by opening a branch office in Tallinn. These new services for corporate customers in Estonia cover payment and liquidity management as well as working capital finance and investment financing.

Pohjola runs finance-company business in all of the three Baltic countries. Its service range has included extensive finance lease services for several years now and non-life insurance services through its Seesam subsidiaries for some two decades. Pohjola changed its representative office in Estonia to a branch office last year and launched corporate customer services this year. The new services provided by Pohjola in the Estonian market encompass payment and liquidity management as well as working capital finance and investment financing. The second half of the year will see the inclusion of other services in the service portfolio.

- Estonia is well on its way to recovering from the financial crisis and joining the euro area has made the country more attractive. We firmly believe that Estonia will play an increasing role among our bank group's customers. Opening this branch office is only a natural step forward for us as we want to serve our existing customers in the Estonian market too. We will also target our services at local mid-size and large companies. Customer focus, flexibility and speed number among our assets - we build our customer relationships on a long-term basis based on in-depth knowledge of customer needs and close interaction, says Reima Rytsölä, Senior Executive Vice President, Banking.

Enabled by the new branch office, Pohjola and OP-Pohjola Group member cooperative banks can provide their corporate customers in Estonia with payment and cash management services.

Branch office in Latvia and Lithuania in the near future

Based on its experience in Estonia, Pohjola has a plan to open branch offices in Latvia and Lithuania within the next 12 months at the earliest.

- We seek profitable growth in the region and aim to gain a foothold in the local markets. The banking sector is characterised by fierce competition, but we are confident that our comprehensive service package, strong expertise and well-honed customer concepts will be our asset in the market, states Rytsölä.

Further information:
Reima Rytsölä, Senior Executive Vice President
Banking, Pohjola Bank plc, tel.
+358 (0)10 252 4422
reima.rytsola@pohjola.fi
Jorma Alanne, Head of Baltic Banking
Pohjola Bank plc
+358 (0)10 252 4450
jorma.alanne@pohjola.fi

www.pohjola.fi


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