Local service nationwide
The POP Bank Group is a Finnish financial group that offers retail banking services for private customers and small and medium-sized companies. POP Bank Group's history dates to 1997 although many of the member banks have been operating for more or less 100 years.
POP Bank Group consists of POP Banks, POP Bank Centre coop and their controlled entities. POP Banks are member credit institutions of POP Bank Centre coop. POP Bank Centre coop and its member credit institutions are mutually liable for their debts and liabilities according to the Act on
the Amalgamation of Deposit Banks. POP Banks, POP Bank Centre coop and their controlled service companies constitute the amalgamation of POP Banks.
POP Bank Centre coop is the central institution of the amalgamation of POP Banks and is responsible for steering and supervising POP Bank Group. POP Bank Centre coop has two subsidiaries, Bonum Bank Plc and POP Mortgage Bank Plc,
which are also its member credit institutions.
Bonum Bank Plc serves as the central credit institution of the POP Banks and acquires external funding for the Group by issuing unsecured bonds. Bonum Bank Plc is also responsible for the POP Banks’ card business and the Group’s payment
transactions and centralised services, in addition to granting credit to retail customers.
POP Mortgage Bank Plc is responsible for the Group’s mortgage-backed funding, which it acquires by issuing covered bonds.
POP Bank Group also includes POP Holding Ltd owned by POP Banks and POP Bank Centre coop. POP Holding Ltd owns 30 per cent from Finnish P&C Insurance Ltd that belongs to LocalTapiola Group and uses the auxiliary business name of POP Insurance. POP Holding Ltd is not a member of the Amalgamation of POP Banks and is included in the scope of joint liability.
The chart below presents the structure of the POP Bank Group and the entities included in the amalgamation and scope of joint liability.