Aktia Pankki Oyj - Company Announcement

Aktia to initiate codetermination negotiations

Aktia Bank plc
Stock Exchange Release
8.10.2013 at 9.30 a.m.



Changes in the operating environment and customer behaviour and increased cost
for regulatory measures call for enhanced effectiveness in order to achieve
cost-cuts and secure Aktia's profitability. The fact that Aktia ceases to act
as central financial institution enables focusing on Aktia's own operations and
thereby cost-cuts. 

In certain regional and central functions of Aktia, codetermination
negotiations are initiated regarding measures to enhance effectiveness and
reorganising of business operations. At the same time, codetermination
negotiations are also initiated at Aktia Life Insurance Company Ltd. 

The estimated reduction of Aktia Group's staff is approx. 95 persons, of which
approx. 65 persons risk to be made redundant. 

The measures planned are based on the Action Plan 2015 as approved by Aktia's
Board of Directors and previously communicated. Said measures are expected to
lower annual costs by EUR 5 to 6 million when they have been implemented in
2014. The reorganising of business operations generates a one-off cost of
approx. EUR 5 million to be booked in the last quarter of 2013. 



AKTIA BANK PLC



Jussi Laitinen
Managing Director

All media contacts to Malin Pettersson, Head of Communications, tel. +358 10
247 6369 



Distribution:
NASDAQ OMX Helsinki Ltd
Central media
www.aktia.fi