2014-05-06 07:00:00 CEST
2014-05-06 07:00:08 CEST
REGULATED INFORMATION
Aktia Pankki Oyj - Interim report (Q1 and Q3)
Aktia Bank plc: Interim report January-March 2014
Helsinki, Finland, 2014-05-06 07:00 CEST (GLOBE NEWSWIRE) --
Aktia Bank plc
Interim report January-March 2014
6 May 2014 at 8:00 am
STRONG NET COMMISSION INCOME AND LOWER COSTS
CEO JUSSI LAITINEN
”Net commission income was strong, borrowing increased and the write-downs on
credits remain on a low level. Continuing low interest rates resulted in a
lower net interest income. Net interest income from traditional borrowing and
lending was stable, whereas income from management of interest rate risks and
hedging decreased as planned. The Action Plan 2015 proceeds well, and has
already resulted in cost-cut of 4%. We continue our efforts to simplify the
Group structure and increase cost-efficiency in the whole Group in 2014.
Aktia's Asset Management has received several awards again this year. Our Asset
Management was awarded first prize in an evaluation carried out by the fund
information and analyst company Morningstar, and Aktia was named best fund
manager for the second year in a row”.
JANUARY-MARCH 2014: OPERATING PROFIT EUR 16.4 (19.5) MILLION
-- The Group's Operating profit amounted to EUR 16.4 (19.5) million and profit
for the period amounted to EUR 13.1 (14.8) million.
-- Net commission income increased by 11% to EUR 18.8 (16.9) million and
borrowing increased by 2% to EUR 3,861 (3,797) million. However, net
interest income (NII) decreased to EUR 25.4 (30.1) million.
-- Earnings per share stood at EUR 0.20 (0.22).
-- According to the Basel III capital requirement the capital adequacy ratio
stood at 17.3 (31 December 2013 Basel II: 19.3)% and the Core Tier 1
capital ratio at 13.6 (12.1)%.
-- Equity per share stood at EUR 8.55 (31 December 2013: 8.67) after dividend
pay-out of EUR 0.42 in April.
-- Write-downs on credits and other commitments decreased to EUR 0.4 (1.1)
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 1-3/20 1-3/20 ∆ % 10-12/ ∆ % 2013 7-9/20 4-6/20
(EUR million) 14 13 2013 13 13
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Net interest income 25.4 30.1 -15% 27.3 -7% 112.6 26.9 28.3
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Net commission 18.8 16.9 11% 17.8 6% 70.7 17.4 18.6
income
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Total operating 52.0 57.5 -10% 57.3 -9% 224.2 53.6 55.7
income
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Total operating -36.1 -37.5 -4% -45.9 -21% -157.2 -34.6 -39.2
expenses
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Operating profit 16.9 20.6 -18% 12.2 38% 68.1 19.8 15.5
before write downs
on credits
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Write-downs on -0.4 -1.1 -63% -1.1 -61% -2.7 -0.2 -0.4
credits and other
commitments
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Operating profit 16.4 19.5 -16% 11.1 48% 65.4 19.6 15.1
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Cost-to-income ratio 0.72 0.67 7% 0.87 -17% 0.72 0.66 0.70
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Earnings per share 0.20 0.22 -12% 0.18 12% 0.78 0.22 0.16
(EPS), EUR
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Equity per share 8.55 9.02 -5% 8.67 -1% 8.67 8.52 8.34
(NAV)1, EUR
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Return on equity 8.2 8.9 -8% 7.5 11% 8.1 9.4 6.9
(ROE), %
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Core Tier 1 capital 13.6 - - 12.1 - 12.1 - -
ratio1, % *
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Capital adequacy 17.3 20.0 - 19.3 - 19.3 19.1 20.3
ratio1, % **
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Tier 1 capital 13.6 11.7 - 12.3 - 12.3 12.2 12.1
ratio1, % **
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Write-downs on 0.01 0.02 -50% 0.02 -50% 0.04 0.00 0.01
credits / total
credit stock, %
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1) At the end of the period
* According to Basel III
**2014 according to Basel III, all
other periods according to Basel II
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The Interim report January-March 2013 is a translation of the original Swedish
version ”Delårsrapport 1.1-31.3.2014”. 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, ir@aktia.fi
Media: Malin Pettersson, tel. +358 10 247 6369
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