Finland Times

Saturday, 23 September, 2023
Home BUSINESSOP gets clarification request from consumer authority
Tue, 15 Dec, 2015 12:02:44 AM
FTimes – STT Report, Dec 15
File Photo – Lehtikuva.
The OP Financial Group on Monday received a request from the Finnish Competition and Consum-er Authority to clarify the company's customer benefits programme and operations in retail banking services and the non-life insurance market, said a release from the company.
The request of clarification which was lodged by If P&C Insurance Company Ltd claims that OP holds a dominant market position in retail banking services.
Furthermore, the company accuses OP of abusing its dominant market position by tying up retail banking services and non-life insurance services and offering non-life products below cost. 
“Our market shares in various fields of retail banking vary between 20 and 38 percent. The allega-tions of OP's market dominance are unfounded. The Finnish retail banking markets have two large services providers whose market shares do not differ from each other fundamentally,” said Reijo Karhinen, OP Financial Group President and Executive chairman, in the release.
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