Aktia Pankki Oyj - Company Announcement

Aktia Bank and the savings bank Vöyrin Säästöpankki have signed a pre-agreement on merger

Helsinki, Finland, 2013-10-24 08:30 CEST (GLOBE NEWSWIRE) -- 

Aktia Bank plc
Stock Exchange Release
24.10.2013 at 9.30 am


Aktia Bank and the savings bank Vöyrin Säästöpankki have signed a pre-agreement
on merger 

Aktia Bank plc and Vöyrin Säästöpankki have signed a pre-agreement on merger.
The merger is to be implemented as conveyance of the business operations of
Vöyrin Säästöpankki to Aktia Bank plc. In this transaction, the net value of
Vöyrin Säästöpankki's business operations is estimated to approximately EUR 11
million. The estimated affect of the transaction on Aktia Bank's result and key
figures is neutral. 

Closing of the final agreement and implementing the transaction are subject to
the Finnish Financial Supervisory Authority's approval of the transaction and
customary terms and conditions. The parties involved aim to close the agreement
on merger by the end of 2013, and the implementation of the transaction is
expected to take place during the first half of 2014. 

Vöyrin Säästöpankki, which following the transaction will be transformed into a
foundation, will use a part of the purchase sum to buy approx. 1% of Aktia
Bank's shares on the market in the period up until 28 February 2015. 

Vöyrin Säästöpankki has approximately 4,300 customers, a business volume of
approximately above EUR 90 million, a Tier 1 capital ratio of above 30% and 9
employees who will be transferred to Aktia Bank as so-called long-service
employees. 

  -- The merger with Vöyrin Säästöpankki improves Aktia Bank's strategic
     position in the Pohjanmaa region. Vöyrin Säästöpankki has operated for 90
     years, and it's a well-run bank with sound economy, says Aktia's CEO Jussi
     Laitinen.
  -- We find a merger with Aktia Bank to be the best alternative available,
     considering the challenges imposed by future banking regulations and the
     current market situation on smaller players on the financial market. In a
     merger with Aktia Bank, locally generated capital from the start of our
     business will stay here, says Jan Björklund, Managing Director of Vöyrin
     Säästöpankki.


AKTIA BANK PLC

For more information, please contact:
Jussi Laitinen, CEO, Aktia Bank plc, tel. +358 10 247 6250
Jan Björklund, Managing Director, Vöyrin Säästöpankki, tel. +358 50 601 65


Distribution:
Nasdaq OMX Helsinki
mass media
www.aktia.fi

Aktia Group provides a broad range of products within banking, insurance and
real estate agency. Aktia Bank operates mainly in coastal areas and inland
growth areas. Aktia Bank has about 300,000 customers who are served by nearly
1,000 employees at 57 branch offices and via Internet and telephone services.
Aktia's shares are listed on the list of NASDAQ OMX Helsinki Ltd. For more
information about Aktia Bank see www.aktia.fi 


Vöyrin Säästöpankki in short
Vöyrin Säästöpankki is an independent savings bank operating in the former
municipality of Vöyri and the Vöyri archipelago. The bank was founded in 1924.
Customers are mainly private persons, agricultural entrepreneurs and smaller
businesses.