Events after the balance sheet date

In November 2015, Visa Inc. announced a definitive agreement to acquire Visa Europe Ltd. The transaction is expected to be completed in the first half of 2016 but it is subject to regulatory approval. In January, OP Cooperative's Executive Board, for its part, approved the bid. If completed, the transaction will, based on preliminary and unconfirmed estimates, bring OP Financial Group approximately EUR 70 million in capital gains in 2016.

In January 2016, OP Financial Group and Suomi Mutual began to negotiate over transfer of Suomi Mutual's individual pension insurance portfolio of about EUR 3.2 billion to OP Life Assurance Company Ltd. The parties aims to draw up a plan for the transfer of the insurance portfolio during March and submit the case to the shareholders' meetings during the spring 2016.