Customer relationships

On 31 December, the Group member cooperative banks had 1.4 million owner-members, up by 30,000 year on year.

Following the buy-out of Pohjola Bank plc's minority shareholders, OP Financial Group is fully owned by Group member bank members. Cooperative bank members may invest in OP Financial Group member cooperative banks' equity instruments called Profit shares.

Contributions made by Group member banks' owner- members to Group member banks' Profit shares, membership capital and supplementary cooperative capital totalled EUR 1.9 billion (0.8) on 31 December.

Cooperative banks are expected to pay dividend on Profit shares and supplementary cooperative capital worth EUR 27 million (11) in 2014. The profit target of Profit shares is 3.25%, calculated from the date the investment was made.

The Group member cooperative banks and Helsinki OP Bank plc, which operates in the Helsinki Metropolitan Area, had a total of 1.4 million OP bonus customers at the end of December.

The combined amount of bonuses earned by OP bonus customers for the whole year for using OP as their main bank and insurer was worth EUR 189 million (182). Bonuses were used for banking services for a total of EUR 86 million (88), and EUR 12 million for Wealth Management Services (11) and EUR 95 million (89) for non-life insurance products' insurance premiums. Bonuses were used to pay 1,912,000 insurance bills (1,783,000), with 255,000 (253,000) of them paid in full using bonuses.



OP Financial Group had 4,284,000 customers in Finland at the end of December. The number of private customers totalled 3,848,000 and that of corporate customers 436,000. The number of joint banking and non-life insurance customers increased in the financial year by 72,000 to 1,590,000, as a result of cross-selling.

The number of non-life insurance loyal customer households increased by 40,000 (46,000) during the financial year. Loyal customer households numbered 655,000 on 31 December. Loyal customer households were provided with EUR 72 million in loyalty discounts during the financial year.