Pohjola Q3 beats, raises financial targets

HELSINKI Wed Oct 31, 2012 2:15am EDT

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HELSINKI Oct 31 (Reuters) - Finland's Pohjola Bank reported a stronger-than-expected quarterly profit and said it was raising its financial targets.

Its third-quarter consolidated earnings before tax rose 67 percent to 79 million euros ($102.5 million), helped by strength in its insurance business, beating the market's forecast of 63.5 million euros in a Reuters poll.

It said it was now aiming for a capital adequacy target of 11 percent instead of a previous 9.5 percent. ($1 = 0.7705 euros) (Reporting by Helsinki Newsroom)

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