Kansallis-Osake-Pankki

' (KOP, lit. 'National Joint-Stock Bank'), also known as ', was a commercial bank operating from 1889 to 1995 in Finland.[1] It was created by the Fennoman movement as a Finnish alternative to the then-dominant bank largely associated with the Swedish-speaking community, Suomen Yhdyspankki (SYP, ). Its emblem was a blue stylized squirrel.

KOP absorbed several other banks during its century-long existence, including the Finnish Agricultural Joint-Stock Bank ( or SMOP, est. 1916 in Tampere, relocated to Helsinki in 1927), Pohjolan Osake-Pankki (lit. 'Joint-Stock Bank of Pohjola', est. 1916 in Oulu), Luotto-Pankki (lit. 'Credit Bank', est. 1917 in Helsinki), and Maakuntain Pankki (lit. 'Provincial Bank', est. 1928 in Helsinki). The latter had itself been formed from three troubled banks, namely Tampereen Osake-Pankki (lit. 'Joint-Stock Bank of Tampere', est. 1898 in Tampere), Länsi-Suomen Osake-Pankki (lit. 'Joint-Stock Bank of Western Finland', est. 1912 in Turku), and Maakuntain Keskus-Pankki (lit. 'Central Bank of the Provinces', est. 1918 in Helsinki).

KOP ended up merging with its long-term rival SYP in 1995 to form Merita Bank. Merita Bank in turn merged in 1997 with Sweden's Nordbanken to form MeritaNordbanken, renamed Nordea in 2000.

Overview

Kansallis-Osake-Pankki was established by the general meeting of its founding shareholders, held in the Mirror Hall of Hotel Kämp on 1889-10-12.[2] The key founders were Otto Stenroth, Lauri Kivekäs, Matti Äyräpää, and the brothers Otto E. A. Hjelt and August Hjelt. The background of Finland's language strife played an important role in the initiative, as banking in Finland was perceived to be dominated by the country's Swedish-speaking community. The bank opened to the public on 1890-2-8, even though individual deposits had already been taken and loans granted before that date. The bank's name was initially spelled Kansallis-Osakepankki, then changed in 1892 to Kansallis-Osake-Pankki.[3]

Despite the original nationalist narrative, the bank's management did not push for a strict language stance, and was not strictly discriminatory in terms of management or leadership selection. In some localities, controversy arose when Swedish speakers were being hired for such positions. Overall, the rise of a Finnish-speaking and pro-Finnish business community benefited the bank in the early decades of its operations. KOP emerged as a socially and culturally significant institution in Finland with unmistakable political-ideological connections and social profile. In 1923, KOP acquired dominant influence in the troubled Luotto-Pankki, which it fully absorbed in 1933.[4]

Chief executives

• Otto Hjelt (1889–1892)
• Fredrik Nybom (1892–1914)
• J. K. Paasikivi (1914–1934)
• Mauri Honkajuuri (1934–1948)
• Matti Virkkunen (1948–1975)
• Veikko Makkonen (1975–1983)
• Jaakko Lassila (1983–1991)
• Pertti Voutilainen (1991–1995)

Buildings

KOP was originally founded in 1890 with its first branch at No. 17 of Aleksanterinkatu in Helsinki.[8] Its then relocated across the street at No. 42, in a building designed by architect Theodor Höijer and completed in 1893. The bank expanded its head office complex there, first in 1925 with design by Onni Tarjanne, then again in and 1962 with design by Antero Pernaja and Nils-Henrik Sandell. In 1972, KOP acquired the adjacent and iconic Pohjola Insurance building (Aleksanterinkatu 44), completed 1901 on a design by Gesellius, Lindgren, Saarinen. KOP kept operating there until 1997,[9] when the Finnish head office operations of Merita Bank were centralized at the Yhdyspankki Head Office Building.

The KOP branch in Lahti, a stark granite fortress-like building designed by Vilho Penttilä, was completed in 1913. It also housed a post office.[10]

See also

• List of banks in Finland

External links

• Panu Moilanen: Kämpin peilisalista Savoyn juhlakerrokseen. 105 vuotta Kansallis-Osake-Pankkia