OP Financial Group's operational bases

OP Financial Group's operations are based on cooperative values, a strong capital base, capable risk management and customer respect. Cooperative values include People-first approach, Responsibility, and Prospering together. Based on its mission, OP Financial Group creates sustainable prosperity, security and wellbeing for its owner-customers and in its operating region by means of its strong capital base and efficiency.

OP Financial Group's customer interests guide all of the Group's operations. Ongoing and active efforts to operate in the interests of customers are crystallised in the Group's customer promise: "We exist to serve our customers". Customers always come first and deserve undivided attention. Customer respect shows in the Group personnel's service attitude. The people elected in the Group's administrative bodies enable a powerful voice of customers in decision-making and the development of operations.

A long-term customer-driven approach is reflected in OP Financial Group's continuous renewal. The Group develops its services and products to meet customer needs. The Group takes different customer groups as well as the regional coverage and availability of financial services effectively into consideration. Group member cooperative banks and their offices across Finland, together with user-friendly electronic services, enable effective interaction with customers and the local community.

As a financial services provider owned by its customers, OP Financial Group has not only its business role but also another significant role, a social role. In its business role, the Group provides competitive services needed by its customers and ensures its operating efficiency and strong capital base that generates competitive advantage. A cooperative as a type of business organisation creates community spirit and continuity in the Group's operating region. In its social role, the Group assumes responsibility for both its owner-customers and, on a more comprehensive basis, for society and local communities. Successful performance in the business role enables the Group to lead its social role.

The strong capital base enables OP Financial Group to successfully lead its double role. The Group maintains its capital adequacy markedly above the regulated level to secure its role as a finance and insurance provider for businesses and even during a prolonged recession. Meanwhile, according to the Group strategy, the Group will keep risk-taking moderate vis-à-vis the risk-bearing capacity.

OP Financial Group is owned by its customers. Being a customer and owner is combined in OP Financial Group. OP Financial Group with a cooperative foundation aims not to maximise profits for its owners but to provide, as efficiently as possible, the services which the cooperative's owner-customers need. A substantial amount of earnings returns to owner-customers while the rest is used to strengthen the Group's balance sheet and secure lending. In addition to financial benefits, owner-customers have a genuine opportunity to contribute to their own cooperative bank’s decisions and, thus, influence developments in their neighbourhood.

OP Financial Group's benefit and added value of the business operations are channelled, via customer relationships, to owner-customers and other customers. Member cooperative banks use their profits for the benefit of their customers by providing loyalty benefits and other financial benefits and by developing their service capabilities. Cooperative banks are often among the largest taxpayers in their localities. After expenses required for business, OP Financial Group allocated its earnings during the financial year, as follows:



The estimate will be confirmed after the end of the financial year. The Group's operations also have other, larger indirect impacts on both local and nationwide economic vitality.