2014-08-05 07:00:00 CEST
2014-08-05 07:00:06 CEST
REGULATED INFORMATION
Aktia Pankki Oyj - Interim report (Q1 and Q3)
Aktia Bank plc: Interim report 1 January - 30 June 2014
Helsinki, Finland, 2014-08-05 07:00 CEST (GLOBE NEWSWIRE) --
Aktia Bank plc
Interim report 1 January-30 June 2014
5 August 2014 at 8.00 a.m.
HIGHER COMMISSION INCOME AND LOWER COSTS
CEO JUSSI LAITINEN
”Sales continued to increase even though the general market situation has not
improved. Net commission income increased during the first half-year and Action
Plan 2015 measures have resulted in cost-cuts. Our core banking project
proceeds, and the new platform is planned to be taken into operation in 2015.
As expected, the persistent low interest rate level had a negative impact on
net interest income. In the second quarter the demand for housing loans and the
number of household loans increased. Our customers desire to secure their
finances can be seen in the increased volumes of payment protection insurance
and an increased interest in monthly saving plans. Aktia's Core Tier 1 capital
ratio strengthened further to 13.8%, exceeding regulatory requirements.”
APRIL-JUNE 2014: OPERATING PROFIT EUR 22.0 (15.1) MILLION
-- The Group's operating profit amounted to EUR 22.0 (15.1) million and profit
for the period amounted to EUR 17.9 (11.0) million
-- Net commission income increased by 5% to EUR 19.6 (18.6) million. Net
interest income (NII) amounted to EUR 25.9 (28.3) million.
-- Earnings per share (EPS) increased to EUR 0.27 (0.16)
JANUARY- JUNE 2014: OPERATING PROFIT eur 38.4 (34.6) MILLION
-- The Group's operating profit amounted to EUR 38.4 (34.6) million and profit
for the period amounted to EUR 31.0 (25.8) million.
-- Net commission income increased by 8% to EUR 38.4 (35.5) million and
borrowing increased to EUR 3,978 (3,797) million. However, net interest
income (NII) decreased to EUR 51.4 (58.4) million.
-- Earnings per share (EPS) stood at EUR 0.46 (0.38).
-- According to the Basel III capital requirement the capital adequacy ratio
stood at 17.8% and the Core Tier 1 capital ratio at 13.8%.
-- Equity per share stood at EUR 8.96 (31 December 2013: 8.67).
-- Write-downs on credits and other commitments decreased to EUR 1.2 (1.5)
million.
-- OUTLOOK 2014 (unchanged): Despite the persistent low interest rate level,
the Group's operating profit for 2014 is expected to reach approximately
the 2013 level.
KEY FIGURES 4-6/ 4-6/ ∆ % 1-6/ 1-6/ ∆ % 1-3/ ∆ % 2013
(EUR million) 2014 2013 2014 2013 2014
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Net interest 25.9 28.3 -8% 51.4 58.4 -12% 25.4 2% 112.6
income
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Net commission 19.6 18.6 5% 38.4 35.5 8% 18.8 4% 70.7
income
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Total 58.4 55.7 5% 110.5 113.2 -2% 52.0 12% 224.2
operating
income
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Total -36.2 -39.2 -8% -72.3 -76.8 -6% -36.1 0% -157.2
operating
expenses
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Write-downs on -0.8 -0.4 82% -1.2 -1.5 -23% -0.4 88% -2.7
credits and
other
commitments
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Operating 22.0 15.1 46% 38.4 34.6 11% 16.4 34% 65.4
profit
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Cost-to-income 0.64 0.70 -9% 0.68 0.68 0% 0.72 -11% 0.72
ratio
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Earnings per 0.27 0.16 66% 0.46 0.38 20% 0.20 35% 0.78
share (EPS),
EUR
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Equity per 8.96 8.34 7% 8.96 8.34 7% 8.55 5% 8.67
share (NAV)1,
EUR
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Return on 11.1 6.9 60% 9.5 8.1 18% 8.2 34% 8.1
equity (ROE),
%
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Core Tier 1 13.8 - - 13.8 - - 13.6 1% 12.1
capital
ratio1, % *
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Capital 17.8 20.3 -12% 17.8 20.3 -12% 17.3 3% 19.3
adequacy
ratio1, % **
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Tier 1 capital 13.8 12.1 14% 13.8 12.1 15% 13.6 2% 12.3
ratio1, % **
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Write-downs on 0.01 0.01 0% 0.02 0.02 0% 0.01 0% 0.04
credits /
total credit
stock, %
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1) At the end of the period
* According to Basel III, **2014 according to Basel III, other periods 2013
according to Basel II
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-
The Interim report January-June 2013 is a translation of the original Swedish
version ”Delårsrapport 1.1-30.6.2014”. In case of discrepancies, the Swedish
version shall prevail.
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-
CEO Jussi Laitinen, tel. +358 10 247 6250
CFO Fredrik Westerholm, tel +358 10 247 6505
IR Anna Gabrán, tel. +358 10 247 6501
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