OP Financial Group

OP Financial Group
Company typePrivate (cooperative bank)
IndustryFinancial services
HeadquartersHelsinki, Finland
Area served
Finland
Key people
Timo Ritakallio (President and Group Executive Chairman)
ProductsBanking, Insurance
RevenueIncrease €3.115 billion (2017)[1]
Decrease €1.077 billion (2017)[1]
Decrease €764 million (2017)[1]
Total assetsIncrease €137.242 billion (31 December 2017)[1]
Total equityIncrease €11.121 billion (31 December 2017)[1]
Number of employees
12,269 (31 December 2017)[1]
SubsidiariesOP Bank Group Central Co-operative, OP Corporate Bank, Pohjola Bank, Helsingin OP Pankki, OP-Kotipankki
Websitewww.op.fi
Former OP-Pohjola Group headquarters in Niemenmäki, Helsinki

OP Financial Group is one of the largest financial companies in Finland. It consists of 180 cooperative banks and their central organization. "OP" stands for "osuuspankki" in Finnish, literally meaning "cooperative bank". The financial group has over 2 million customer-owners,[2] offering retail and commercial banking services all over Finland, as well as insurance services.[3]

In 2014 the group acquired the remainder of the shares of Pohjola Bank and consolidated its services under the OP brand, shortening its name to OP from OP-Pohjola, a name it had used since 2007.[4]

OP's current headquarters are located in Vallila, Helsinki, and opened in 2015.

OP has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[5][6]

  1. ^ a b c d e f "OP Ryhmän toimintakertomus ja tilinpäätös 2017" [OP Financial Group 's Report by the Board of Directors and Financial Statements 2017] (PDF). OP Financial Group (in Finnish). 2017. Retrieved 2 March 2019.
  2. ^ "OP Financial Group in brief". Retrieved 30 July 2021.
  3. ^ OP Financial Group in brief Retrieved on 10 January 2015
  4. ^ Pohjola shares removed from the book-entry system. op.fi, Archived 2016-08-21 at the Wayback Machine
  5. ^ "The list of significant supervised entities and the list of less significant institutions" (PDF). European Central Bank. 4 September 2014.
  6. ^ "List of supervised entities" (PDF). European Central Bank. 1 January 2023.