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Sampo Bank plc is a part of Danske Bank Group, one of the largest financial enterprises in the Nordic region.

Sampo Bank is the third largest bank in Finland and has more than 1.1 million personal customers and over

100,000 corporate and institutional customers.

This Release of Financial Statements includes Sampo Bank plc and its subsidiaries.

SAMPO BANK PLC

RELEASE OF FINANCIAL STATEMENTS 31.12.2011

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SAMPO BANK GROUP’S RELEASE OF FINANCIAL STATEMENTS JANUARY-DECEMBER 2011

Ilkka Hallavo, Country Manager: Good result in difficult circumstances

“Despite Europe’s economic crisis, the Sampo Bank Group’s result for 2011 was very good. The Bank’s net interest income improved by over 7 per cent and returns by 4 per cent. The profit for the year was at the 2010 level, amounting to EUR 147.3 million (-3 per cent). I am very satisfied with the result improvement and the increase in banking business in such a challenging economic environment.

The continued record-low interest rates have promoted housing sales and the demand for housing loans. Since the summer, the global financial crisis has increased banks’ refinancing costs, which has brought home loan margins up to a level of one per cent. However, with the decline in market rates, Finnish households continue to enjoy overall home loan interest rates that are among the lowest in Europe.

Electronic services made a decisive breakthrough in 2011. The number of active eBanking customers grew by 34,000, and in just over a year our mobile bank gained more than 53,000 users. The new tablet bank also gained more than 7,000 users in a single month. Sampo Bank is at the forefront in the provision of modern tablet and mobile services in Finland. Card payment continued to increase in popularity, while demand for cash services was in rapid decline.

Sampo Bank enters the new financial year with confidence, despite the shadow cast over the outlook for Finland’s economy by the economic difficulties in Europe. The Sampo Bank Group and the Danske Bank Group are financially very sound and are thus able to perform as reliable and significant finance providers for businesses during the downturn and beyond.”

Management changes at Sampo Bank

Ilkka Hallavo will leave his position as Country Manager of Sampo Bank Plc and become member of the board of directors for Sampo Bank Plc. Therefore a search process has been started to find a new Country Manager which we expect to be in place before summer. Ilkka Hallavo will continue as Country Manager of Sampo Bank until the new candidate is in place.

Financial highlights

Changes in the operating environment

The performance of the global economy weakened during the course of 2011. At the start of the year, the global economy was rapidly heading towards recovery from the previous recession, but rising raw material prices, the major earthquake in Japan and Europe’s sovereign debt crisis undermined confidence and forced many European countries to impose more rigorous financial policies. In the United States and the major developing economies, growth continued at a modest pace at the end of 2011. In the euro area’s debt crisis countries, unemployment grew quickly and banks were required to raise their capital as protection against risks. Finnish banks already held the necessary amount of capital.

7-12/2011 7-12/2010 1-12/2011 1-12/2010

Total operating income EURm 324 304 650 623Profit before taxes EURm 99 60 147 152Equity at the end of the period EURm 27 406 26 158 27 406 26 158Average number of staff 2 501 2 661

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In response to the economic recovery and accelerating inflation, the European Central Bank increased its refinancing rate twice in the spring, which led to higher short-term market rates. As the outlook weakened and Italy and Spain drifted towards a debt crisis, the ECB altered the course of its monetary policy in the autumn, buying bonds issued by the crisis countries, offering three-year financing to banks and lowering its refinancing rate back to 1 per cent. Euribor rates sank a little further but their downward trend was slowed by a lack of interbank confidence. At year end, the 12 month Euribor was 1.9 per cent. The declining interest rates lowered banks’ net interest incomes. In the autumn, the interest rates of countries with the highest credit rating, such as Germany and Finland, fell to record-low figures. Investors avoided the debt crisis countries, which led to a significant increase in their interest rates and even forced banks to enter losses. The crisis and the lack of confidence increased banks’ refinancing costs, and in order to secure profitability they sought to transfer this to customer financing margins. Economic policy integration for the euro area and associated mechanisms were discussed and developed with the aim of securing stability, but at the end of 2011 there was still no decisive resolution to the debt crisis. According to estimates, Finland’s gross domestic product grew by just under 3 per cent in 2011, which was not sufficient to raise total output to the record level of 2008. The order books of Finnish exporting companies grew in the first half of the year, but in the second six months the weakening global economy led to a decline in new orders. Consumer demand in the Finnish market also grew in the latter part of the year and construction continued to be brisk. The number of corporate bankruptcies increased by just a small amount on the 2010 figures. In the latter half of the year, economic uncertainty weakened companies’ willingness to invest. Construction companies required pre-sales in excess of 50 per cent from new housing starts. Financial institutions’ corporate loan portfolios rose by more than 6 per cent in November. The unemployment rate fell below 8 per cent and low interest rates helped household finances. Inflation rose to 3.4 per cent. Households’ deposit base continued to rise by a rate of 6 per cent during November. Consumer confidence fell towards the end of the year, while retail sales and vehicle sales continued to grow. On the housing market, sale times grew longer in the latter part of the year, but the home loan portfolio continued to grow at a rate above 6 per cent in November. Home prices declined somewhat from the peak in the summer but were still just over 1 per cent higher than a year earlier in November.

Revenue performance

July-December Total returns for the second half of 2011 increased by 6.4 per cent to EUR 323.9 million compared with the same period a year earlier (EUR 304.4 million). The Group’s net interest income in the second six months was EUR 182.2 million (163.6 million), representing a growth of 11.4 per cent on the same period in 2010. The Group’s net commission income for July-December was up by 7.2 per cent year on year. Income from transactions in securities and foreign exchange dealing also grew on the 2010 comparison period, up by 12.7 per cent to EUR 15.1 million (13.4 million). In contrast, the Group’s other income declined in the second half of the year by EUR 7.6 million compared with the corresponding period a year earlier. January-December Total income for the full financial year 2011 grew by 4.2 per cent to EUR 649.8 million (623.3 million). The Group’s net interest income increased to EUR 345.7 million (321.9 million), an increase of 7.4 per cent on the previous year. The increase in interest income was a result of both an increase in the loan portfolio and the slight increase in market rates in the spring compared with the previous year. Financing costs continued to grow during the year, as expected. The increase in Group net commission income was first and foremost the outcome of an increase in exceptional and one-off commissions from lending. Net income from transactions in securities and foreign exchange dealing decreased by 28 per cent on the previous year, to EUR 40.1 million (55.7 million). Other Group income increased by 7.2 per cent on the previous financial year. Other income also includes Group net leasing income.

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Banking activities

Net revenue from banking increased by 6.8 per cent on the previous year to EUR 565.3 million. Because of the growth in the loan portfolio, banking net interest income increased by 2.5 per cent despite an increase in financing costs since the previous year. Net commission income grew by 7.4 per cent. The increase in financing costs continued throughout the financial year, and as a result, loan pricing has been tightened. The company introduced several new products to the market during 2011, the latest of which was the tablet bank, launched in November. Development of its eBanking services has long been one of Sampo Bank’s principal development goals and there are currently over half a million active eBanking users.

Markets

Despite the prolonged uncertainty in the capital markets, the income of the Markets business area grew year on year by 14.1 per cent to EUR 51.6 million (45.3 million). Income and customer activity remained at the high level attained in the previous year both in fixed income and foreign currency products. The Markets business area performed well in a number of customer satisfaction surveys conducted during the year and has solidified its market share position among the top two in several product areas. Stock sale orders carried out by the Danske Markets business area during the financial year included Tikkurila ABB, DHL, Hoegh LGN, Archer ABB, Citycon ABB, Probi ANN and DFDS ABB. Capital

The Capital business area performed reasonably well during the year, taking into account the market situation. Its net revenue was EUR 36.3 million (44.1 million). The name of Sampo Fund Management Ltd was changed to Danske Invest Fund Management Ltd on 19 October 2011. It is the third largest fund management company in Finland and holds a market share of 14.1 per cent. Assets under its management were EUR 7.8 billion at the end of December (EUR 9.1 billion on 31 December 2010). Net subscriptions by fund management companies registered in Finland were EUR -1 238,8 million in January–December. In the same period, net subscriptions by Danske Invest Fund Management Company were EUR -441 million. The global fund analysis company Morningstar gave Danske Invest Fund Management Ltd’s 21 funds either the highest (five-star) or second highest ranking in its comparison survey that included a total of 58 funds. The average overall star rating was 3.3. In 2010 and 2011, Lipper, a Thomson Reuters Group company, chose the Sampo Compass 50 fund as Europe’s top balanced fund on the basis of a three-year risk-adjusted return. The Danske Invest Gold fund was placed first in the alternative investments category based on five- and three-year returns and 12-month returns. Also, the Sampo Compass 25 fund retained its position as the most popular balanced fund in Finland in 2011, with more than 61,000 unit holders. Result and cost structure

July-December The Sampo Bank Group’s profit before taxes for July-December 2011 was EUR 99.5 million (60.2 million). The Group’s costs decreased by EUR 8 million, or 3.6 per cent, compared with the same period in 2010. Loan impairment charges in July-December also decreased by almost EUR 12 million year on year. January-December The Sampo Bank Group’s profit before taxes for the full financial year was EUR 147.3 million (152.3 million). The result was EUR 109.8 million (117.1 million). The result was positively affected especially by the improvement of both net interest income and net commission income. Correspondingly, the increase in impairment charges and one-off costs had a negative impact on the result. Net impairment on loans and receivables was EUR 53.4 million

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(32.7 million). Individually assessed impairment charges and final write-offs totalled EUR 68.0 million (54.2 million). EUR 0.3 million was recorded in collective impairments, and recoveries came to EUR 15.0 million. Impairment charges and write-offs were mainly from a few corporate customers. The Sampo Bank Group’s operating expenses totalled EUR 449.0 million, an increase of 2.4 per cent (EUR 10.7 million) on the previous year. The consolidated result for the year was burdened by a number of one-off expenses (EUR 11.3 million) from several completed projects that are associated with the reorganising of operations. The Group’s fixed costs in the financial year were at the previous year’s level. Balance sheet and funding

The Sampo Bank Group’s balance sheet total for 2011 was EUR 27,406.1 million (26,158.0 million). Loans and receivables from customers grew by EUR 1,417.5 million to a total of EUR 24,733.6 million (23,316.1 million). Demand for housing loans continued to be good, and the housing loan portfolio grew 7.7 per cent on the previous year. Deposits increased by EUR 86.9 million to a total of EUR 15,234.6 million (15,147.7 million). The financial and liquidity situation remained good. Short-term funding performed well during the year. In long-term funding, the exceptional market situation increased funding costs. The financial and liquidity situation remained good. Short-term funding performed well during the year. In long-term funding, the exceptional market situation increased funding costs. Sampo Bank issued EUR 2 billion worth of covered bonds and EUR 15.1 million in other bonds during the year. Sampo Housing Loan Bank plc, a fully-owned subsidiary of Sampo Bank plc, was merged into Sampo Bank plc on 31 December 2011. The objective of the merger was to streamline the Group organisation. Capital adequacy

Sampo Bank applies standard method (capital requirement for credit and operational risk) and regulatory approaches (capital requirement for market risks) to capital adequacy calculations. The Group’s capital adequacy ratio was 14.4 per cent (15.2), which clearly exceeds the regulatory requirement. The Tier 1 capital ratio was 14.4 per cent (14.1). The total capital included in capital adequacy was EUR 2,617.3 million on 31 December 2011 (EUR 2,698.9 million). The Group’s risk weighted assets were EUR 18,155.0 million (17,764.2 million). On 31 May 2011, Sampo Bank plc prematurely redeemed a EUR 200 million Tier 2 debenture loan with the permission of the Finnish Financial Supervisory Authority. In July, the European Banking Authority (EBA) published the results of its Europe-wide stress tests. The capital adequacy of Danske Bank A/S, the parent company of Sampo Bank, exceeded by a clear margin the level required to pass the stress test, as was the case the previous year. The capital adequacy of the Danske Group displayed strong resilience against the adverse scenario applied in the stress test and exceeded the minimum level by a wide margin. As a result of the financial crisis, banks’ capital adequacy requirements are being tightened. The objective of the tighter regulations is to improve the quality of banks’ capital, reduce the cyclical nature of the capital requirement and banks’ indebtedness, and impose quantitative limits on liquidity risks. The changes, planned for entry into force during 2013–2019, are still being drafted and their eventual effects cannot be assessed with certainty.

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SOLVENCY

Own funds 31.12.2011 31.12.2010 31.12.2011 31.12.2010

EURm

Tier 1 1) 2 617,3 2 499,8 2 632,8 2 506,8

Share capital 106,0 106,0 106,0 106,0Legal reserve 271,1 271,1 261,7 261,7Capital securities 350,0 350,0 350,0 350,0Distributable capital 1 886,3 1 777,8 1 919,0 1 796,0Non-controlling interest 8,2 2,1 0,0 0,0Intangible assets -3,7 -6,6 -3,4 -6,3Deductions from Tier 1 -0,6 -0,6 -0,6 -0,6

Tier 2 0,0 199,1 0,0 199,1Subordinated liabilities 0,0 199,7 0,0 199,7Other 0,0 0,0 0,0 0,0Deductions from Tier 2 0,0 -0,6 0,0 -0,6

Total capital 2 617,3 2 698,9 2 632,8 2 705,9

Risk-weighted assets (on-balance sheet

and off-balance sheet) 18 155,0 17 764,2 16 911,1 17 357,8

Capital requirement ( 8% of

risk-weighted assets) 1 452,4 1 421,1 1 352,9 1 388,6Credit and counterparty risk 1 345,2 1 309,2 1 248,6 1 279,6Market risk 17,2 20,2 17,2 20,2Operational risk 90,0 91,7 87,1 88,8

Solvency ratio, %

- total capital/risk-weighted assets 14,4 % 15,2 % 15,6 % 15,6 %- Tier 1 capital/risk-weighted assets 14,4 % 14,1 % 15,6 % 14,4 %

Group capital adequacy ratio has been calculated in accordance with Credit Institutions Act Sect 5:44-48§ and 54-66§. For calculation of credit, market and operational risk's risk-weighted assets, Sampo Bank Groupapplies standard method.

1) Sampo Bank Group Tier 1 includes capital securities 14% (15 %). Sampo Bank Plc Tier 1 includes capital securities 14 % (15 %).

Sampo Bank Group Sampo Bank Plc

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Employees and organization

The Group had 2,483 employees (2,645) at the end of the financial year, which was 162 persons, or 6.1 per cent, less than at the end of 2010. During the year 43 persons was transferred from Sampo Bank plc to Danske Bank A/S Helsinki Branch. Of all the employees, 94.8 per cent were employed in banking activities, 2.7 per cent in Markets and 2.5 per cent in Capital. Credit ratings

Moody’s long-term deposit rating of Sampo Bank plc was A1 with stable outlook, and the short-term rating was P-1. Standard & Poor's long-term counterparty credit rating was A with negative outlook, and the short-term counterparty credit rating was A-1. There were no changes in Sampo Bank’s credit ratings during 2011. Sampo Bank plc’s Board of Directors and auditors

During the financial year, the members of Sampo Bank plc’s Board of Directors were Thomas F. Borgen (Chairman), Per Damborg Skovhus (Deputy Chairman), Lars Andreasen (to 14 March 2011), Mikael Ericson, Niels-Ulrik Mousten, Esko Mäkeläinen, Georg Schubiger, Henrik Ramlau-Hansen (from 15 March 3011) and Maija Strandberg. The Annual General Meeting of Sampo Bank plc chose Ernst & Young Oy, a firm of authorised public accountants, as its auditor, with Kunto Pekkala, APA, as the auditor with principal responsibility.

Changes in Sampo Bank’s shares, ownership and group structure

The Sampo Bank Group is part of the Danske Bank Group. The parent company of Danske Bank Group is Danske Bank A/S. The parent company of the Sampo Bank Group is Sampo Bank plc. Sampo Housing Loan Bank plc, a fully-owned subsidiary of Sampo Bank plc, was merged into Sampo Bank plc on 31 December 2011. The following were also Sampo Bank Group companies on 31 December 2011: Danske Invest Fund Management Ltd, Realty World Ltd, As. Oy Espoon Leppävaaran Aurinkopiha, Aurinkopihan Palvelut Oy, MB Equity Partners Ltd and MB Mezzanine Fund II Ky. Number of shares in Sampo Bank plc is 106 000 and share capital is 106 million euros. Danske Bank A/S owns all the share capital of Sampo Bank plc. Risk management

The main objective of risk management is to ensure that the capital base is adequate in relation to risks arising from business activities. The Board of Directors of Sampo Bank establishes the principles of risk management, risk limits and other general guidelines according to which risk management is organised at Sampo Bank. To ensure that the bank’s risk management organisation meets both the external and internal requirements, the Board of Directors has set up a Risk Committee, the main objective of which is to ensure Sampo Bank’s compliance with the risk management guidelines issued by the Board of Directors and that Sampo Bank monitors all types of risk and reports to the appropriate parties. The Board has also established an Asset and Liability Committee (ALCO), which is responsible for monitoring and directing the management of structural balance sheet interest rate risk positions in accordance with Sampo Bank’s policies and delegated limits. ALCO also determines the operating target levels for liquidity risk management and oversees the management of liquidity risk. The Risk Management unit monitors daily business operations. In addition to the statutory capital adequacy calculation, risks in the Sampo Bank Group are assessed through economic capital indicators, which describe the amount of capital needed to bear different kind of risks. The capital requirement is adequately covered by equity, capital securities and debenture loans. The principal risks associated with the Sampo Bank Group’s activities are credit risk, banking book interest rate and liquidity risks, operational risks and various business risks.

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The Group’s risk position remained at a good level. The principal risks associated with the Group’s business operations involve developments in the general economic operating environment and investment market and future changes in financial regulations. In relation to the loan and guarantee portfolio, bad and doubtful debts were at a low level. The majority of net write-offs and impairment charges consisted of customer-specific impairment charges. There was an increase in the volume of bad and doubtful debts in comparison with the previous year, and these amounted to EUR 197.0 million (164.9 million) or 0.82 per cent (0.74 per cent) of the loan and guarantee portfolio. The Sampo Bank Group has not invested in the bonds of GIIPS countries. A more detailed account of risks and risk management can be found in the 2011 financial statements. Outlook

The continued decline in the outlook for the global economy is causing uncertainty in the financial markets. The main risks from the Bank’s point of view concern the trends in the global economy and the financial markets. Unease in the financial markets and weak economic performance may have a negative impact on the economy in general and consequently on the result for the Group. Dividend proposal

The parent company’s distributable capital and reserves were EUR 1,825,862,787.12, of which profit for the period was EUR 199,352,272.30. The Board of Directors proposes to the Annual General Meeting that the distributable capital and reserves be used as follows: no dividend shall be paid on the 2011 financial year. Retained earnings shall be left in equity. Helsinki, 9 February 2012 Sampo Bank plc Board of Directors ******************************************************************************************************************* Further information:

Ilkka Hallavo, Country Manager Tel. 010 546 8057 Johanna Lamminen, CFO Tel. 010 546 7873 The figures in this financial statement release have not been audited. The Sampo Bank Group interim report for January–June 2012 will be released on 7 August 2012. Releases and other company information can be found on Sampo Bank’s website at www.sampopankki.fi.

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CONSOLIDATED STATEMENT OF COMPREHENSIVE

INCOME

EURm Note 7-12/2011 7-12/2010 1-12/2011 1-12/2010

Interest income 385,9 300,9 723,0 592,5Interest expense -203,7 -137,3 -377,3 -270,6Net interest income 1 182,2 163,6 345,7 321,9

Fee income 129,1 125,7 261,7 253,8Fee expenses -28,2 -31,6 -59,5 -65,1Net trading income 15,1 13,4 40,1 55,7Other operating income 24,4 32,0 58,9 55,0Net income from investments 1,2 1,3 2,9 2,0Total operating income 323,9 304,4 649,8 623,3

Staff costs -85,8 -83,1 -175,8 -165,3Other operating expenses -112,0 -124,4 -237,2 -238,5Amortisation, depreciation and impairment charges -18,8 -17,1 -36,0 -34,5Total operating expenses -216,6 -224,6 -449,0 -438,3

Loan impairment charges 2 -7,8 -19,7 -53,4 -32,7

Profit before taxes 99,5 60,2 147,3 152,3

Taxes -25,6 -17,2 -37,5 -35,1

Total comprehensive income for the year 73,9 43,0 109,8 117,1

Attributable to

Equity holders of parent company 73,9 42,7 108,3 116,8 Non-controlling interest 0,0 0,3 1,5 0,4

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CONSOLIDATED BALANCE SHEET

EURm Note 12/2011 12/2010

Assets

Cash and balances at central banks 814,1 1 292,7Loans and receivables 4 24 733,6 23 316,1Trading portfolio assets 5, 6 1 646,8 1 156,1Investments in associated undertakings 8,2 8,0Intangible assets 3,7 6,6Investment property 33,7 34,4Property, plant and equipment 37,2 64,9Other assets 103,1 256,6Current tax assets 23,6 18,5Defferred tax assets 2,0 4,2Total assets 27 406,1 26 158,0

Liabilities

Due to credit institutions and central banks 7 1 954,7 2 417,4Amounts owed to customers and public entities 7 15 234,6 15 147,7Debt securities in issue 8 4 514,5 4 083,8Financial liabilities at fair value through p/l 5, 8 1 697,0 1 070,5Trading portfolio liabilities 5, 6 1 312,4 908,2Other liabilities 421,4 372,5Current tax liabilities 0,0 0,6Deferred tax liabilities 0,0 0,0Total liabilities 25 134,5 24 000,8

Equity

Share capital 106,0 106,0Reserves 271,1 271,1Retained earnings 1 886,3 1 778,0Equity attributable to parent company's

equityholders 2 263,4 2 155,1

Non-controlling interest 8,2 2,1Total equity 2 271,6 2 157,2

Total equity and liabilities 27 406,1 26 158,0

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STATEMENT OF CHANGES IN

EQUITY

EURmShare

capital

Legal

reserve

Retained

earnings Total

Non-

controlling

interest Total

Equity at 1 Jan. 2010 106,0 271,1 1 661,2 2 038,4 0,1 2 038,4

Total comprehensive income 116,8 116,8 0,4 117,1Total income and expenses

recognised for the period 116,8 116,8 0,4 117,1

Dividend distribution Change in non-controlling interest 1,7 1,7Equity at 31 December 2010 106,0 271,1 1 778,0 2 155,1 2,1 2 157,2

Equity at 1 Jan. 2011 106,0 271,1 1 778,0 2 155,1 2,1 2 157,2

Total comprehensive income 108,2 108,2 1,5 109,8Total income and expenses

recognised for the period 108,2 108,2 1,5 109,8

Dividend distribution Change in non-controlling interest 4,6 4,6Equity at 31 December 2011 106,0 271,1 1 886,3 2 263,4 8,2 2 271,6

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CASH FLOW STATEMENT

EURm 2011 2010

Cash flow from operations

Profit before tax 147,3 152,3Adjustment for non-cash operating items Adjustment of income from associated undertakings -1,7 -2,0Amortisation and impairment charges for intangible assets 3,0 0,2Depreciation and impairment charges for tangible assets 31,8 37,6Loan impairment charges 53,4 32,7Tax paid -37,2 -37,3Other non-cash operating items 19,0 7,4Total 215,6 190,9

Changes in operating capital

Cash in hand and demand deposits with central banks -502,9 26,2Trading portfolio -86,6 202,6Loans and receivables -1 074,2 -439,7Deposits 86,9 1 714,4Other assets/liabilities 1 420,0 -300,0Cash flow from operations 58,8 1 394,4

Cash flow from investing activities

Acquisition of group undertakings and other business units -0,4 -10,0Acquisition of intangible assets -0,1 -0,4Acquisition of tangible assets -5,3 -4,6Sale of tangible assets 18,6 13,7Cash flow from investing activities 12,8 -1,3

Cash flow from financing activities

Redemption of subordinated debt and hybrid core capital -200,0 0,0Change in non-controlling interests 6,1 2,0Cash flow from financing activities -193,9 2,0

Cash and cash equivalents, beginning of year 4 626,6 3 231,7Change in cash and cash equivalents -122,1 1 394,9Cash and cash equivalents, end of year 4 504,5 4 626,6

Cash in hand and demand deposits with central banks 814,1 1 292,7Amounts due from credit institutions and central banks within 3 months 3 690,4 3 333,9Total 4 504,5 4 626,6

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JANUARY-DECEMBER 2011

EURm

Banking

Activities Markets Capital Other Eliminations

Sampo Bank

Group

Total operating income 565,3 51,6 36,3 -3,5 0,0 649,8

Total operating expenses -399,8 -22,2 -19,6 -7,5 0,0 -449,0Loan impairment charges -59,8 6,4 0,0 0,0 0,0 -53,4

Profit before taxes 105,7 35,8 16,7 -11,0 0,0 147,3

DECEMBER 31, 2011

TOTAL ASSETS 39 673 4 979 50 7 179 -24 476 27 406

of which loans and advances to credit inst. & customers 38 429 9 431 156 442 -23 725 24 734TOTAL LIABILITIES AND EQUITY 39 673 4 979 50 7 179 -24 476 27 406

of which liabilities to credit inst. & customers 39 168 1 638 11 -51 -23 578 17 189

JANUARY-DECEMBER 2010

EURm

Banking

Activities

Markets Capital Other EliminationsSampo Bank

Group

Total operating income 529,4 45,3 44,1 4,6 0,0 623,3

Total operating expenses -388,1 -20,9 -20,0 -9,4 0,0 -438,4Loan impairment charges -23,2 -9,5 0,0 0,0 0,0 -32,7Profit before taxes 118,1 14,8 24,1 -4,8 0,0 152,3

DECEMBER 31, 2010

TOTAL ASSETS 35 762 4 404 59 7 466 -21 533 26 158

of which loans and advances to credit inst. & customers 35 854 7 896 134 434 -21 001 23 316

TOTAL LIABILITIES AND EQUITY 35 762 4 404 59 7 466 -21 533 26 158

of which liabilities to credit inst. & customers 35 394 2 052 7 1 013 -20 901 17 565

In accordance with IFRS 8 Sampo Bank Group is required to disclosure business with a single external customerthat generates 10% or more of the combined revenue. The Group has no such customers.

The Group follows business functions in four different segments; Banking Activities, Markets, Capital and Other.

Markets is responsible for operations in the financial markets and advisory services related to markets area. Markets consists also a part of Group's treasury functions. Capital is responsible for Sampo Bank's Asset Management operations and mutual funds. Other activities includes primarily Group's funding and Group's support functions such as IT services, Contact Centre, product development and logistics.

OPERATING SEGMENTS - tables

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SAMPO BANK GROUP'S FINANCIAL HIGHLIGHTS

1-12/2011 1-12/2010

Total operating income EURm 650 623Total operating expenses EURm 449 438

Impairment charges on loans and receivables 1) EURm 53 33Profit before taxes EURm 147 152Cost to income ratio % 69,1 70,3Total amount of balance sheet at the end of the period EURm 27 406 26 158Equity at the end of the period EURm 2 272 2 157Return on equity % 5,0 5,6Group solvency ratios % 14,4 15,2Average number of staff 2 501 3 026

Return on assets % 0,4 0,5Equity/assets ratio % 8,3 8,3

1) Impairment on loans and receivables includes impairment charges, reversals of them, write-offs and recoveries.

CALCULATION OF FINANCIAL HIGHLIGHTS

Cost to income ratio, % :

Staff costs + other operating expenses x 100………………………………………………………………………………………………………………………………………………………………..Net interest income + net income from financial transactions + net fee and commission income + net income from investments + other operating income

Return on equity, % :

Profit before taxes - taxes x 100…………………………………………………………………………………………………………………………………………………………………Equity + non-controlling interests (average)

Return on assets, % :

Profit before taxes - taxes x 100…………………………………………………………………………………………………………………………………………………………………Average total assets

Equity/assets ratio, % :

Equity + non-controlling interests x 100…………………………………………………………………………………………………………………………………………………………………Total assets

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OTHER NOTES

ACCOUNTING PRINCIPLES

This Release of Financial Statement has been presented according to IAS 34.The Group has not changed its accounting policies from those followed in Annual Report 2010.

Figures in notes are rounded so combined individual figures might differ from the presentedtotal amount.

EURm

1 NET INTEREST INCOME

2011 2010

EURm

Interest income

Loans and receivables to credit institutions 89,6 42,3Loans and receivables to customers and public entities 588,4 520,4Debt securities 4,7 16,4Derivatives 38,8 12,4Other interest income 1,5 1,0Total 723,0 592,5

Interest expenses

Amounts owed to credit institutions -81,3 -53,7Amounts owed to customers and public entities -152,3 -107,2Debt securities in issue -127,2 -93,7Subordinated liabilities -15,5 -15,5Other interest expenses -1,0 -0,6Total -377,3 -270,6

Net interest income 345,7 321,9

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2 LOAN IMPAIRMENT CHARGES

EURmIndividual

impairment

charges

Collective

impairment

charges Recoveries Total

From loans and receivables to credit institutions 0,0 0,0From loans and receivables to customers -impairment charges 126,7 0,4 127,1 -write-offs 73,1 73,1 -reversals -119,9 15,0 -134,9From guarantees and other off-balance sheet items -impairment charges 0,0 -write-offs 0,0 0,0 -reversals -11,9 0,0 -11,9Total 1-12/2011 68,0 0,3 15,0 53,4

EURmIndividual

impairment

charges

Collective

impairment

charges Recoveries Total

From loans and receivables to credit institutions -0,9 -0,9From loans and receivables to customers -impairment charges 157,6 157,6 -write-offs 40,9 16,4 24,5 -reversals -151,5 -5,4 -156,9From guarantees and other off-balance sheet items -impairment charges 10,6 0,3 10,9 -write-offs 0,0 -reversals -2,6 -2,6Total 1-12/2010 54,2 -5,1 16,4 32,7

17

3 THE BALANCE SHEET CLASSIFICATION AND MATURITY ANALYSIS

EUR m Financial assets Derivatives

Amortised at fair value held for

ASSETS cost through p/l hedging Total

Cash and balances with central banks 814,1 814,1

Loans and receivables to customers and public entities 21 001,7 21 001,7

Loans and receivables to credit institutions 3 731,9 3 731,9

Debt securities 182,8 182,8

Shares and participations 20,2 20,2

Derivatives 1 171,9 271,9 1 443,8Investment property 33,7 33,7Other assets 177,8 177,8

Total 31.12.2011 25 725,6 1 408,7 271,9 27 406,1

Financial assets Derivatives

Amortised at fair value held for

ASSETS cost through p/l hedging Total

Cash and balances with central banks 1 292,7 1 292,7

Loans and receivables to customers and public entities 19 980,9 19 980,9

Loans and receivables to credit institutions 3 335,2 3 335,2

Debt securities 225,4 225,4

Shares and participations 24,8 24,8

Derivatives 854,1 51,8 905,9

Investment property 34,4 34,4

Other assets 358,7 358,7

Total 31.12.2010 24 967,5 1 138,7 51,8 26 158,0

18

3 THE BALANCE SHEET CLASSIFICATION AND MATURITY ANALYSIS (cont.)

EUR m Financial liabilities Derivatives

Amortised at fair value held for

LIABILITIES cost through p/l hedging Total

Due to credit institutions and central banks 1 954,7 1 954,7

Amounts owed to customers and public entities 15 234,6 15 234,6Debt securities in issue 0,0-> Bonds 4 157,8 4 157,8

Financial liabilities at fair value through p/l 0,0-> Sertificates 1 697,0 1 697,0Derivatives and other financial liabilities held for trading 1 080,8 231,6 1 312,4Subordinated liabilities 356,7 356,7Other liabilities 421,4 421,4

Total 31.12.2011 22 125,2 2 777,8 231,6 25 134,5

Financial liabilities Derivatives

Amortised at fair value held for

LIABILITIES cost through p/l hedging Total

Due to credit institutions and central banks 2 417,4 2 417,4

Amounts owed to customers and public entities 15 147,7 15 147,7

Debt securities in issue 0,0

-> Bonds 3 526,4 3 526,4

Financial liabilities at fair value through p/l 0,0-> Sertificates 1 070,5 1 070,5Derivatives and other financial liabilities held for trading 833,6 74,6 908,2Subordinated liabilities 557,4 557,4

Other liabilities 373,1 373,1

Total 31.12.2010 22 022,0 1 904,2 74,6 24 000,8

19

MATURITY ANALYSIS OF ASSETS AND LIABILITIES, BY REMAINING MATURITY

EUR m 2011 2010

Assets

Less than 3 months 5 932,7 5 174,3Loans and advances to credit institutions 3 670,9 3 130,2Loans and advances to customers 2 088,4 2 015,3Debt securities 173,4 28,83 - 12 months 1 934,2 2 201,9Treasury bills and other eligible bills 0,0 51,1Loans and advances to credit institutions 18,6 170,4Loans and advances to customers 1 909,2 1 945,1Debt securities 6,4 35,31 - 5 years 7 723,4 7 515,2Treasury bills and other eligible bills 0,7 1,6Loans and advances to credit institutions 42,2 34,3Loans and advances to customers 7 678,2 7 466,7Debt securities 2,2 12,55 - 10 years 5 161,7 4 777,1Loans and advances to credit institutions 0,2 0,2Loans and advances to customers 5 161,4 4 680,8Debt securities 0,0 96,0Over 10 years 4 164,5 3 873,0Loans and advances to customers 4 164,4 3 873,0Debt securities 0,0 0,0

EUR mLiabilities

Less than 3 months 16 803,7 16 471,2Liabilities to credit institutions 1 359,2 1 251,1Liabilities to customers 13 930,5 14 045,6Debt securities in issue 1 390,5 1 051,0Subordinated liabilities 123,5 123,53 - 12 months 2 032,1 2 684,3Liabilities to credit institutions 505,5 76,0Liabilities to customers 1 163,5 883,5Debt securities in issue 363,2 1 525,0Subordinated liabilities 0,0 199,81 - 5 years 3 418,3 3 336,6Liabilities to credit institutions 90,0 1 000,0Liabilities to customers 104,9 161,4Debt securities in issue 2 990,2 1 941,1Subordinated liabilities 233,2 234,15 - 10 years 1 146,7 221,9Liabilities to credit institutions 0,0 90,3Liabilities to customers 35,8 56,8Debt securities in issue 1 111,0 74,8Over 10 years 0,0 5,4Liabilities to customers 0,0 0,4Debt securities in issue 0,0 5,0Subordinated liabilities 0,0 0,0

20

4 LOANS AND RECEIVABLES

EURm 2011 2010

Loans and receivables to customers and public entities

By type of loan

Home loans 11 341,7 10 465,7Consumer loans 1 229,5 1 162,0Other retail loans 1 470,4 1 512,3Finance lease assets 555,3 621,1Other commercial loans 6 737,4 6 542,8Impairment charges -332,6 -323,0Total 21 001,7 19 980,9

Loans and receivables to credit institutions

Deposits 2 155,1 2 637,8Repo agreements 1 450,1 438,7Other loans 126,8 258,7Impairment charges 0,0 -0,1Total 3 731,9 3 335,1

Total loans and receivables 24 733,6 23 316,0

5

EURm Assets Liabilities Assets Liabilities

Assets/liabilities held for trading 203,1 0,0 250,1 0,0Derivative financial instruments (note 6) 1 443,8 1 312,4 905,9 908,2Debt securities at fair value 0,0 1 697,0 0,0 1 070,5Financial instruments, total 1 646,8 3 009,4 1 156,1 1 978,7

FINANCIAL INSTRUMENTS

2011 2010

21

6 DERIVATIVE FINANCIAL INSTRUMENTS

Contract/ Contract/

EURm notional Assets Liabilities notional Assets Liabilities

amount amount

Derivatives held for trading

Interest rate derivatives OTC derivatives 39 885,3 554,7 496,9 23 324,3 421,6 391,8 Exchange-traded derivatives 159,7 0,6 1,1 1 011,7 4,8 2,5

Foreign exchange derivatives OTC derivatives 26 415,5 513,8 501,9 20 342,5 319,6 320,3 Equity derivatives OTC derivatives 4 402,7 16,2 14,4 1 759,7 12,4 17,0

Other derivatives OTC derivatives 553,5 72,4 32,5 0,0 0,0 0,0 Exchange-traded derivatives 360,7 14,2 34,0 881,6 95,8 102,0

Total derivatives held for trading 1 171,9 1 080,8 854,1 833,6

Derivatives held for hedging

Derivatives designated as fair value hedges Interest rate derivatives 5 659,6 271,9 231,6 3 791,8 51,8 74,6

Total derivatives held for hedging 271,9 231,6 51,8 74,6

Total derivative financial instruments 1 443,8 1 312,4 905,9 908,2

2011 2010

Fair value Fair value

22

7 AMOUNTS OWED TO CREDIT INSTITUTIONS AND CUSTOMERS

EURm 2011 2010

Amounts owed to credit institutions and central banks

Liabilities to central banks 0,4 0,6Deposits from credit insitutions 1 504,6 1 825,1Other liabilities owed to credit institutions 449,7 591,8Total 1 954,7 2 417,4

Amounts owed to customers and public entities

Deposits

Demand deposits 2 674,6 2 648,6Savings accounts 2 867,6 3 022,6Current accounts 6 623,5 6 203,0Money market deposits 365,9 1 111,3Other time deposits 2 702,9 2 162,3Total deposits 15 234,6 15 147,7

Total amounts owed to credit institutions and customers 17 189,3 17 565,1

8 DEBT SECURITIES IN ISSUE

EURm 2011 2010

Debt securities in issue

Certificates of deposit 1 697,0 1 070,5Bonds and notes 4 157,8 3 526,4of which in foreign currency 34,8 78,6Total 5 854,8 4 596,9

Subordinated debt securities

Capital securities 356,7 357,6Debentures 0,0 199,8of which perpetuals 356,7 357,6Total 356,7 557,4

6 211,5 5 154,3Debt securities in issue, total

23

9 CONTINGENT LIABILITIES AND COMMITMENTS

EURm 2011 2010

Off-balance sheet items

Guarantees and pledges 1 858,9 1 912,7Undrawn loans, overdraft facilities and other commitments to lend 3 621,7 3 472,4Total 5 480,6 5 385,1

Sampo Bank Group is continually a party to various lawsuits. The Group does not expect the outcomes of thesepending to have any material effect on its financial position.

Assets pledged as collateral for liabilities or contingent liabilities

Assets pledged as collateral

Assets

pledged

Liabilities/

commit-

ments

Assets

pledged

Liabilities/

commit-

ments

Trading portfolio assets- Trading securities 406,9 606,4 564,9 752,1Loans and receivables- Loans 4 026,8 3 184,1 2 451,3 2 129,7Total 4 433,7 3 790,5 3 016,2 2 881,8

Non-cancellable operating leases 2011 2010

Minimum lease payments under non-cancellable operating leases not later than one year 27,9 27,0 later than one year and not later than five years 79,5 81,8 later than five years 24,5 38,1Total 131,9 146,9

2011 2010

24

10 RELATED PARTY DISCLOSURES

RECEIVABLES AND LIABILITIES

PARENT COMPANY2011 2010

EURm

Receivables 3 417,2 3 666,0Liabilities 1 269,3 1 668,2

SUBSIDIARIES AND OTHER GROUP UNDERTAKINGS2011 2010

EURm

Receivables 99,4 312,5Liabilities 89,1 113,0

ASSOCIATED UNDERTAKINGS2011 2010

EURm

Receivables 83,4 72,8Liabilities 0,0 0,0