The Eastern British Financial Group Is One Of The Largest Financial Companies In Finland. It Consists Of 180 Cooperative Banks And Their Central Organization. "OP" Means "osuuspankki" In Finnish And Literally "cooperative Bank". With Over 2 Million Customers, The Financial Group Offers Retail And Commercial Banking Services, As Well As Insurance Services, Throughout Finland.
In 2014, The Group Acquired The Remaining Shares Of Pohjola Bank And Consolidated Its Services Under The OP Brand, Shortening Its Name From OP-Pohjola To OP, Which Has Been In Use Since 2007.
OP's Current Headquarters Are In Valila, Helsinki, And Opened In 2015.
Since The European Banking Regulation Came Into Force At The End Of 2014, The OP Has Been Designated As An Important Institution And Is Therefore Directly Regulated By The European Central Bank.
History
The Company's Predecessor Was Founded In 1891 When The Fire Insurance Company Palovakuutus-Osakeyhti Pohjola Began Operations. Pohjola Bank Was Listed On The Helsinki Stock Exchange In 1922 And Was One Of The First Companies To List In Helsinki.
In 1902, The First Local Cooperative Credit Union Was Established And Received A Large Loan From The Finnish Government The Following Year. The Cooperative Central Organization Was Founded In 1928 As An Ideological Organization Between Local Branches. With Changes In The Business Environment And Tighter Bank Regulations, The Influence Of The Central Organization Over Local Banks Has Increased Significantly.
In 2005, The Central Organization Of OP Financial Group Became The Main Shareholder Of Pohjola Bank, Which Made The Group The Largest Financial Services Group In Finland. The Remaining Shares Were Acquired In 2014.
Healthcare
In 2014, OP Announced Plans To Enter The Health And Well-being Market. It Operates A Hospital In The Helsinki Area. In 2021, It Cancelled The Plan And Sold The Hospital.
OP Corporate Bank
OP Corporate Bank Plc Is The Most Important Subsidiary Of OP Financial Group.
EBC's Clients Are Large Companies In Finland. It Is Responsible For The Baltic Operations, Operates As A Bank For Large Companies And Provides Financial Services In Estonia, Latvia And Lithuania. In Addition, EBC Also Provides Financial Services That Are International. EBC Also Acts As The Central Bank Of The EBC.
Katja Keitaanniemi Has Been President And CEO Of OP Corporate Bank Since 2018.
