2016-10-25 08:00:01 CEST
2016-10-25 08:00:01 CEST
REGLAMENTUOJAMA INFORMACIJA
Ålandsbanken - Interim report (Q1 and Q3)
Bank of Åland Plc: Interim Report for the period January–September 2016
Mariehamn, 2016-10-25 08:00 CEST (GLOBE NEWSWIRE) --
Bank of Åland Plc
Interim report
October 25, 2016, 9.00 p.m.
Interim Report for the period January–September 2016
“During the third quarter of 2016, we delivered a stable net operating profit
of EUR 6.2 M. Thanks to our rising deposit and lending volumes, we managed to
defend our net interest income despite a continued decline in market interest
rates. We also clearly saw our housing and property-related mutual funds
continue to attract new investors.
“After the summer, we launched our new debit and credit card, the Baltic Sea
Card. This card is biodegradable, but our bank is also the first in the world
to enable users to see the carbon footprint created by their own consumption.
The Baltic Sea Card and its characteristics have received worldwide attention.”
Peter Wiklöf, Managing Director
January - September 2016 compared to January – September 2015
-- Net operating profit decreased by 21 per cent to EUR 18.8 M (23.6).
-- Profit for the period attributable to shareholders decreased by 22 per cent
to EUR 14.8 M (19.0).
-- Net interest income increased by 5 per cent to EUR 41.1 M (39.2).
-- Net commission income decreased by 7 per cent to EUR 32.7 M (35.3).
-- Total expenses increased by 1 per cent to EUR 67.4 M (66.9).
-- Net impairment losses on loans (including recoveries) amounted to EUR 3.0 M
(1.9), equivalent to a loan loss level of 0.11 (0.08) per cent.
-- Return on equity after taxes (ROE) amounted to 9.2 (12.7) per cent.
-- Earnings per share amounted to EUR 0.92 (1.25).
-- The core Tier 1 capital ratio, not taking into account transitional rules,
amounted to 12.1 per cent (12.0 on December 31, 2015).
The third quarter of 2016 compared to the third quarter of 2015
-- Net operating profit decreased by 3 per cent to EUR 6.2 M (6.4).
-- Profit for the period attributable to shareholders decreased by 2 per cent
to EUR 5.0 M (5.1).
-- Net interest income amounted to EUR 13.7 M (13.6).
-- Net commission income amounted to EUR 10.6 M (10.5).
-- Total expenses decreased by 1 per cent to EUR 21.5 M (21.6).
-- Net impairment losses on loans (including recoveries) amounted to EUR 0.9 M
(1.4), equivalent to a loan loss level of 0.10 (0.16) per cent.
-- Return on equity after taxes (ROE) amounted to 9.2 (9.9) per cent.
-- Earnings per share amounted to EUR 0.33 (0.33).
Financial summary
Bank of Åland Group Q3 Q2 % Q3 % Jan-Se Jan-Se %
2016 2016 2015 p p 2015
2016
EUR M
Income
Net interest income 13.7 13.5 1 13.6 0 41.1 39.2 5
Net commission income 10.6 10.8 -2 10.5 0 32.7 35.3 -7
Net income from financial 0.5 1.9 -71 1.5 -64 3.9 5.5 -30
items at fair value
Other income 3.8 3.9 -3 3.8 0 11.5 12.4 -8
Total income 28.5 30.1 -5 29.4 -3 89.2 92.4 -3
Staff costs -13.3 -14.7 -10 -13.2 1 -42.2 -40.9 3
Other expences -6.7 -7.7 -12 -6.7 0 -20.8 -20.6 1
Depreciation/amortisation -1.5 -1.5 -2 -1.7 -14 -4.5 -5.3 -16
Total expenses -21.5 -23.8 -10 -21.6 -1 -67.4 -66.9 1
Profit before impairment 7.1 6.3 13 7.8 -9 21.8 25.6 -15
losses
Impairment losses on -0.9 -1.7 -48 -1.4 -37 -3.0 -1.9 58
loans and other
commitments
Net operating profit 6.2 4.6 35 6.4 -3 18.8 23.6 -21
Income taxes -1.2 -1.1 11 -1.3 -6 -4.0 -4.6 -13
Profit for the report 5.0 3.5 43 5.1 -2 14.8 19.0 -22
period
Attributable to:
Shareholders in Bank of 5.0 3.5 43 5.1 -2 14.8 19.0 -22
Åland Plc
Volume
Lending to the public 3,692 3,629 2 3,531 5
Deposits from the public 2,897 2,894 0 2,611 11
1
Investment volume 2 6,634 6,328 5 6,502 2
Equity capital 217 212 2 208 5
Balance sheet total 4,909 4,718 4 4,499 9
Risk exposure amount 1,538 1,500 3 1,558 -1
Financial ratios
Return on equity after 9.2 6.5 9.9 9.2 12.7
taxes, % (ROE) 3
Expences/income ratio 4 0.75 0.79 0.73 0.76 0.72
Loan loss level, % 5 0.10 0.19 0.16 0.11 0.08
Gross non-performing 0.90 0.65 0.80
receivables, % 6
Level of provisions for 39 51 35
doubtful receivables, %7
Core funding ratio, % 8 90 94 99
Equity/assets ratio, % 9 4.4 4.5 4.6
Tier 1 capital ratio, % 12.1 12.4 11.9
10
Earnings per share, EUR 0.33 0.23 43 0.33 -3 0.92 1.25 -26
11
Earnings per share after 0.32 0.23 42 0.33 -3 0.92 1.25 -27
dilution, EUR
Equity capital per share, 14.20 13.90 2 13.66 4
EUR 12
Equity capital per share 14.07 13.81 2 13.60 3
after dilution, EUR
Market price per Series A 14.10 13.86 2 17.48 -19
share, EUR
Market price per Series B 13.58 13.74 -1 16.40 -17
share, EUR
Number of shares 15,299 15,267 0 15,208 1
outstanding (not own
shares), 000s
Number of shares 15,540 15,477 0 15,338 1
outstanding (not own
shares), after dilution,
000s
Working hours 690 690 0 667 3 682 661 3
re-calculated to
full-time equivalent
positions
1 Deposits from the public and public sector enteties, including certificates
of deposit, index bonds and debentures issued to the public
2 Investment volume encompassed actively managed assets (the Group´s own mutual
funds, discretionary and advisory managed assets) plus other securities volume
in brokarage accounts"
3 Profit for the report period attributable to shareholders / Average
shareholders´portion of equity capital
4 Expences / Income
5 Impaiment losses on loan portfolio and other commitments / Lending to the
public at the beginning of the period
6 Gross doubtful receivables / Lending to the public before provisions for
impairment losses
7 Provisions for individual impairment losses / Gross doubtful receivables
8 Lending to the public / Deposits including certificates of deposit, index
bonds and debentures issued to the public plus covered bonds issued
9 Equity capital / Balance sheet total
10 (Core Tier 1 capital / Capital requirement)x 8% 11 Shareholders ´portion of
earnings for the period / Avarage number of shares
12 Equity capital / Number of shares less own shares on closing day
The Bank of Åland (Ålandsbanken) follows the disclosure procedure stipulated in
"Disclosure obligation of the issuer (7/2013)", published by the Finnish
Financial Supervisory Authority and hereby publishes its Interim Report for the
period January – September 2016, which is enclosed with this stock exchange
release. The Bank`s Interim Report for the period January – September 2016 is
attached to this release in PDF format and is also available on the company’s
web site at
https://www.alandsbanken.com/uploads/pdf/result/en_resultat_jan-sep_16.pdf
Mariehamn, October 25, 2016
THE BOARD OF DIRECTORS
For more information please contact:
Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland, tel. + 358
(0)40 512 7505
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