OP Financial Group: Discover Everything You Need To Know

OP Financial
OP Financial

OP Financial Organization is Finland’s largest financial services group, to promote the long-term prosperity, security, and well-being of its owner-customers and the surrounding society.

OP Financial Group is made up of 153 member cooperative banks, its central cooperative OP Cooperative, and its subsidiaries and affiliates.

The Group employs 12,000 people and serves 1.95 million owner-customers.

In Finnish, “OP” stands for “osuuspankki,” which means “cooperative bank.”

OP Financial Group

OP Financial Organization, founded in 1902, is a cooperative financial services group comprised of autonomous cooperative banks and the Group’s core cooperative with its subsidiaries operating under the premise of joint and several liabilities.

Banking, Non-life Insurance, and Wealth Management are the three business segments of OP Financial Group.


The predecessor company began operations in 1891 as the fire insurance company Palovakuutus-Osakeyhtiö Pohjola. Pohjola Bank became one of the first corporations to be listed on the Helsinki Stock Exchange in 1922.

The first local cooperative credit societies were established in 1902, and the following year they obtained a big loan from the Finnish state.

The cooperative central organization was created in 1928 as an ideological organization amongst local branches. As the business climate has evolved and banking regulations have tightened, the central organization’s influence over local banks has grown dramatically.

In 2005, the OP Financial Group’s core organization became a substantial shareholder in Pohjola Bank, making the firm the largest financial services group in Finland.

The remaining shares were purchased in 2014.


OP announced ambitions to enter the health and wellness business in 2014.

It already has one hospital in the Helsinki area, but it intends to open more shortly under the Pohjola brand, which is no longer used in banking.

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OP is the main provider of home and corporate loans in Finland.

We want to give private customers the greatest possible experience, both locally and online.

We offer all corporate and entrepreneur banking services, financing, payment transaction, cash management services, investment services, and expert business development services to SME customers.

OP Corporate Bank is Finland’s leading corporate and institutional bank.

We offer a wide range of services for a variety of situations, including financing, hedging, payment services, cash flow and working capital management, asset management, and risk management.

OP offers a wide range of non-life and life insurance services to private, business, and institutional clients.

We intend to keep improving our services across all service channels to provide the greatest client experience in the market.

OP’s Banking is the Group’s largest business segment providing customers with an extensive and comprehensive range of products and services.

Private customers, corporate customers, markets, and Baltics are the four divisions of banking.

OP serves SMEs, major businesses, organizations, and associations with corporate clients.

We offer a wide range of services to our customers, including finance, payment transactions, cash management, investing, risk management, and business growth.

We consistently personalize our solutions to the specific requirements of our corporate clients.

OP is investing in international service capabilities to meet the demands of its clients, which means OP will collaborate with carefully selected, strong local businesses in markets vital to its consumers while increasing its operations in the Baltic countries.

We assist corporate business growth and investment by arranging customized finance solutions that diversify our corporate customers’ capital and financing structure.

We assist our customers in risk management by analyzing potential capital options as well as market and asset-liability management issues.

Our financial options include loans, guarantees, leases, and factoring.

Furthermore, we seek the most appropriate client solutions for effective and productive cash management, which is a crucial component of a company’s financial management.

We provide our customer’s options for cash flow and currency exposure management, as well as short-term working capital and surplus management.

Leading Non-Life Insurer

OP is Finland’s leading non-life insurer, offering a wide range of comprehensive insurance products to both private customers and corporate and institutional clients.

Private Customers, Corporate Customers, Baltics, and Health and Wellbeing are the non-life insurance businesses of OP.

OP’s non-life insurance operations in the Baltic countries include OP Insurance, A-Insurance, Eurooppalainen Insurance Company, and Seesam.

We offer a wide range of services and products in Wealth Management, including unit-linked insurance, mutual funds, and discretionary and advisory mandates.

The purpose of OP is to discover the best solution for each customer’s savings and investment requirements.

Private Customers, Corporate Customers, Investment, and Wealth Management Products are the Wealth Management business divisions.

Summary of Sustainability Strategy

Corporate responsibility (CR) is essential to OP’s operations and strategy.

CR is founded on our goals and values and is supported by a customer-owned business model.

The Group’s Corporate Responsibility Programme guides and coordinates OP’s CR initiatives and aims. It aspires to be a forerunner in the finance industry’s corporate responsibility. Corporate responsibility for the Group boils down to concrete measures. It promotes a sustainable economy and financial literacy. More comprehensive metrics and KPIs are included in the program and themes, such as the goal of becoming carbon positive by 2025.

OP also promotes the Sustainable Development Action Plan and the UN Member States 2015 Sustainable Development Goals (SDGs).

Why did the bank join UNEP FI as a member?

OP’s goal is to be a trailblazer in Corporate Responsibility and to develop the sector’s contribution to societal sustainable development.

OP recognizes its role as one of Finland’s largest funders and takes this obligation seriously.

OP wishes to assist its clients in making the transition to a more environmentally friendly economy. Clients and investors at OP are interested in green finance, green loans, and green bonds. From the standpoint of a bank, responsible investments and financial operations imply taking CR into account and incorporating it into all investment and financing decisions, as well as prioritizing environmentally and climate-friendly investments.

OP Financial Group Salary

The average executive salary at CO-OP Financial Services is $226,308 per year.

The average anticipated remuneration for CO-OP Financial Services executives, including base salary and bonus, is $212,995, or $102 per hour. The highest-paid executive of CO-OP Financial Services earns $700,000 a year, while the lowest-paid executive earns $65,000.

Career A career OP Financial Group

OP Financial Firm is Finland’s largest financial services group, with over two million owner-customers and over 12,000 workers. We offer a full range of banking and insurance services to both private and business clients. OP Financial Group is made up of OP cooperative banks, OP Cooperative, and the latter’s subsidiaries and affiliates. Our purpose is to support the long-term prosperity, security, and well-being of our owner-customers and the region in which we operate.

OP Financial Group employs experts from a variety of industries, including financial-sector specialists, hard-core developers, and agile change promoters, as well as customer service professionals. We encourage our employees’ personal development and professional advancement. With us, you will be able to expand your knowledge and improve your skills in a range of roles.

OP Corporate Bank

The most important subsidiary of OP Financial Group is OP Corporate Bank Plc.

Customers of OP Corporate Bank are significant Finnish corporations.

It is in charge of the Baltic business, acting as a bank for large corporations and providing financial services in Estonia, Latvia, and Lithuania.

OP Corporate Bank also provides financial services for internationalization.

OP Corporate Bank also serves as the central bank for the OP Financial Group.

Since 2018, Katja Keitaanniemi has served as President and CEO of OP Corporate Bank.

OP Cooperative, the central cooperative

The primary cooperative of OP Financial Group is OP Cooperative, which is based in Helsinki.

Credit institutions, as defined in the Act on the Amalgamation of Deposit Banks, may be members of the central cooperative if their bylaws or articles of association have been approved by the central cooperative.

The Supervisory Council of the central cooperative makes decisions on new member admission.

The purpose of the central cooperative, as the amalgamation’s central cooperative and as the company leading the financial conglomerate formed by OP Financial Group, is to equitably contribute to and support the development and cooperation of its member credit institutions, other OP Financial Group companies and entities, and the entire Group.

OP Financial Group contact number

OP Financial Group’s press office

+358 (0)10 252 8719, Monday–Friday between 9–17.

OP Financial Group switchboard

+358 10 252 010
From abroad: +358 10 252 010


Gebhardinaukio 1, Helsinki
P.O. Box 308, FI-00101 Helsinki

Pohjola Insurance Ltd
Gebhardinaukio 1, Helsinki
00013 OP

OP Financial Group’s annual report for 2021 published

The annual report for 2021 of OP Financial Group is now accessible at vuosi.op.fi/en/2021.

The report includes OP Financial Group’s Board of Directors’ Report and Financial Statements, Corporate Governance Statement, Capital Adequacy, and Risk Management Report, Remuneration Report, and Remuneration Policy for Governing Bodies, as well as an annual evaluation of OP Financial Group’s Year 2021.

The yearly assessment includes integrated corporate responsibility reporting (GRI Standards core).

The Board of Directors’ Report on OP Financial Group includes a report on non-financial facts.

The package of papers also contains the Data Balance Sheet for OP Financial Group.

The Financial Statements and Board of Directors Report have also been released as an XHTML file in conformity with the European Single Electronic Format reporting standards (ESEF). XBRL tags have been assigned to the primary statements of the consolidated financial statements. The XHTML file and its XBRL tags have been validated.

The reports are attached to this stock exchange announcement and are also available at op. fi > OP Financial Group > To the media > OP Financial Group publications, in addition to the specific annual report website.

More information:

Anni Hiekkanen, Director of Communications, +358 10 252 1989

Investor Relations at OP Financial Group, IR@op.fi

How do I cancel my fi account?

You have the option to cancel your Google Fi service at any time.

There are no cancellation costs.

Close your Fi account
  1. Access the Google Fi website or app.
  2. Select “Account.”
  3. Choose a Manage plan.
  4. Click Leave Google Fi and then follow the on-screen instructions.

Is OP Financial Group listed?

Pohjola Bank became one of the first corporations to be listed on the Helsinki Stock Exchange in 1922.

The first local cooperative credit societies were established in 1902, and the following year they obtained a big loan from the Finnish state.

What is Op Fi?

You can access various banking and insurance transactions by logging onto the op.fi service (in Finnish).

Start utilizing the op.fi service if you are familiar with digital services and like to handle personal concerns on a computer.

How can I get bank statements from op?

To get the bank statement, use the op.fi service. If you are unable to read bank statements, please contact Customer Service at 0100 05151 or send a message via OP’s digital services.

How do I set up co-op mobile banking?

Make a username, a password, and a 6-digit security code. After that, you’ll be required to generate another 6-digit passcode to use in the future to access the mobile app. You’ll also be able to configure your Face ID and Touch ID (if applicable).

How do I cancel my op account?

If you have OP user IDs, you can close a shared account by sending us a message through the op. fi or OP-mobile services. Each account holder must send their message with the following information: The account number that will be closed.


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