Finland's OP Bank Group Plc and OKO Bank Plc to change names.
NORDIC BUSINESS REPORT-12 September 2007-Finland's OP Bank Group Plc and OKO Bank Plc to change names(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Finnish cooperative financial group OP Bank Group Central Cooperative said on Wednesday (12 September) that the name of OP Bank Group will change to OP-Pohjola Group and OKO Bank Plc to Pohjola Bank plc.
The new names are intended to combine banking, investment and non-life insurance operations and two strong Finnish brands with long traditions.
The company said that the Pohjola acquisition changed OKO Bank's structure and business content substantially and claimed the name change will bring all operations under a single name and brand.
The name changes of OP Bank Group and OKO Bank will not affect the names of member cooperative banks in any way. Nor will the products and services of retail customers be affected, the company added.
Non-life insurance will still be sold under the Pohjola brand, while bank products are provided by the cooperative banks.
OP-Pohjola Group is a financial services group in Finland. It consists of 231 independent member cooperative banks and the Group's central institution, the OP Bank Group Central Cooperative, with its subsidiaries and closely-related companies, the largest of which is the listed company OKO Bank plc.
OKO Bank plc is a Finnish financial services company that provides banking, investment and non-life insurance services. OKO Bank is listed on the Nordic Exchange in Helsinki.
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|Title Annotation:||OP-Pohjola Group; Pohjola Bank plc|
|Publication:||Nordic Business Report|
|Article Type:||Brief article|
|Date:||Sep 12, 2007|
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