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Finland's Pohjola Bank pretax profit beats expectations
April 29, 2013 / 5:16 AM / 4 years ago

Finland's Pohjola Bank pretax profit beats expectations

HELSINKI, April 29 (Reuters) - Finland’s Pohjola Bank reported a stronger-than-expected quarterly profit, helped by cost cuts and stronger premium revenues in its non-life insurance business.

Pohjola said its first-quarter pretax profit rose 27 percent to 131 million euros ($171 million), beating the average forecast of 88 million euros in a Reuters poll.

The company, which is the insurance and corporate banking arm of the Finland’s largest financial group, co-operative OP-Pohjola, repeated its forecast for full-year pretax profit to be higher than the 374 million euros it reported in 2012. ($1 = 0.7676 euros) (Reporting by Ritsuko Ando; Editing by Daniel Magnowski)

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