Aktia Pankki Oyj - Company Announcement

Aktia Bank plc: New core banking platform will be implemented step-by-step during the last quarter of 2016

Helsinki, Finland, 2016-09-02 14:00 CEST (GLOBE NEWSWIRE) -- 

Aktia Bank plc
Stock Exchange Release
02/09/2016 at 3:00 p.m.


New core banking platform will be implemented step-by-step during the last
quarter of 2016 

Acceptance testing of the systems included in the new core banking platform has
advanced well, the new platform will be implemented step-by-step during the
last quarter of 2016. Staff training commenced last spring, and the feedback
has been positive. 

The total investment, including migration costs, is estimated to exceed EUR 65
(previously exceed 55) million, and the total activated investment costs for
the project are estimated to amount to approximately EUR 55 (previously 50)
million. Expenses have increased mainly due to prolonged testing to ensure a
smooth transition for our customers. 

At the end of June, the activated investment costs amounted to EUR 48 million.
The increase in costs will not impact the outlook for Aktia’s result for the
whole year 2016. 

The new core banking system will facilitate a number of quicker customer
service processes and modernised work approaches, materialising simultaneously
with training for and implementation of the system. The core banking platform
will also be a base for continued development of digital services. The cost
savings brought by the new core banking system will materialise from 2017
onwards. 

AKTIA BANK PLC

For more information, please contact:
Jussi Laitinen, CEO, tel. +358 10 247 6250
Magnus Weurlander, Director tel. +358 10 247 6383

From:
Anna Gabrán, IR, tel.+358 10 247 6501, ir(at)aktia.fi

Distribution:
Nasdaq Helsinki Ltd
Central media
www.aktia.com

Aktia provides a broad range of products and services within banking, insurance
and real estate agency. Aktia operates mainly in coastal areas and inland
growth areas. Aktia has about 300,000 customers who are served by approximately
1,000 employees at 50 branch offices and via Internet and telephone services.
Aktia's shares are listed on the list of Nasdaq Helsinki Ltd. For more
information about Aktia see www.aktia.com.