2015-11-17 07:00:00 CET
2015-11-17 07:00:08 CET
REGULATED INFORMATION
Aktia Pankki Oyj - Interim report (Q1 and Q3)
Aktia Bank plc: Interim report 1 January - 30 September 2015
Helsinki, Finland, 2015-11-17 07:00 CET (GLOBE NEWSWIRE) --
AKTIA BANK PLC
Interim Report 1-9/2015
17 November 2015 at 8:00 a.m.
COMMISSION INCOME CONTINUES TO INCREASE AND COMPENSATE A LOWER NII
CEO JUSSI LAITINEN"We achieved a stable result and managed to keep expenses under control. The
growth of commission income is increasingly important, compensating the
negative impact of the continuing low interest rates on net interest income.
The launch of our new core banking system will be postponed to the second half
of 2016 in order to ensure smoothest possible transition. The delay implies
higher costs, and the total investment, including migration costs, is now
estimated to exceed EUR 55 million.
In accordance with Action Plan 2015, Aktia has entered an agreement to acquire
all minority shares in Aktia Real Estate Mortgage Bank after the publication of
financial statements for 2016. Subsequently, the plan is to merge Aktia Real
Estate Mortgage Bank with Aktia Bank. The transaction has already had a
negative impact on Aktia's Common Tier 1 capital ratio. But despite this, it is
among the highest in the Nordic countries. Our strong capital adequacy enables
growth in the years to come.
Aktia continues to develop its customer services as the demand for telephone
and digital services increases. Our meritorious telephone service was recently
awarded second price in a national competition for Contact Centers. In a new
survey of the banking sector, Aktia Bank excelled as the best bank to give
proactive offers of new solutions to its customers."
JULY-SEPTEMBER 2015: OPERATING PROFIT EUR 16.4 (17.3) MILLION
-- The Group's operating profit was EUR 16.4 (17.3) million and profit for the
period was EUR 13.4 (13.6) million.
-- Net commission income strengthened by 12% to EUR 19.7 (17.6) million. Net
interest income (NII) was EUR 23.8 (26.1) million.
-- Earnings per share (EPS) was EUR 0.20 (0.19).
JANUARY-SEPTEMBER 2015: OPERATING PROFIT EUR 53.1 (55.8) MILLION
-- The Group's operating profit was EUR 53.1 (55.8) million and profit for the
period was EUR 42.9 (44.7) million.
-- Net commission income strengthened by 9% to EUR 61.0 (56.0) million and
borrowing totalled EUR 3,920 (3,979) million. Net interest income (NII)
dropped by 5% to EUR 73.6 (77.5) million.
-- Earnings per share (EPS) was EUR 0.65 (0.65).
-- The transition to IRB approach increased Aktia's Common Equity Tier 1
capital ratio and stood at 20.5 (14.6)%.
-- Equity per share stood at EUR 9.20 (31.12.2014; 9.39).
-- Write-downs on credits and other commitments continued low and stood at EUR
-0.1 (-1.7) million.
-- OUTLOOK 2015 (changed, p. 15): Aktia's operating profit for 2015 is
expected to be EUR 62-65 million (previously reach a similar level as in
2014).
KEY 3Q2015 3Q2014 ∆ % 1-9/20 1-9/20 ∆ % 2Q2015 ∆ % 1Q2015 2014
FIGUR 15 14
ES
(EUR
milli
on)
--------------------------------------------------------------------------------
Net 23.8 26.1 -9% 73.6 77.5 -5% 24.3 -2% 25.5 102.8
inter
est
incom
e
--------------------------------------------------------------------------------
Net 19.7 17.6 12% 61.0 56.0 9% 21.7 -9% 19.7 74.9
commi
ssion
incom
e
--------------------------------------------------------------------------------
Total 49.3 50.1 -2% 156.5 160.6 -3% 54.0 -9% 53.1 212.3
opera
ting
incom
e
--------------------------------------------------------------------------------
Total -32.4 -32.8 -1% -103.9 -105.2 -1% -35.8 -9% -35.7 -144.5
opera
ting
expen
ses
--------------------------------------------------------------------------------
Write- -0.5 -0.5 -6% -0.1 -1.7 -96% 1.5 - -1.0 -1.7
downs
on
credi
ts and
other
commi
tments
--------------------------------------------------------------------------------
Operat 16.4 17.3 -5% 53.1 55.8 -5% 19.7 -17% 17.0 68.3
ing
profi
t
--------------------------------------------------------------------------------
Cost-t 0.66 0.69 -4% 0.66 0.68 -3% 0.68 -3% 0.65 0.71
o-inco
me
ratio
(Bank
Group
)
--------------------------------------------------------------------------------
Earnin 0.20 0.19 4% 0.65 0.65 0% 0.25 -21% 0.20 0.79
gs per
share
(EPS)
, EUR
--------------------------------------------------------------------------------
Equity 9.20 9.27 -1% 9.20 9.27 -1% 9.05 2% 9.59 9.39
per
share
(NAV)
1, EUR
--------------------------------------------------------------------------------
Return 8.0 8.1 -2% 8.4 9.0 -7% 9.6 -17% 7.5 8.3
on
equit
y
(ROE)
, %
--------------------------------------------------------------------------------
Common 20.5 14.2 44% 20.5 14.2 44% 22.4 -9% 22.6 14.6
Equit
y Tier
1
capit
al
ratio
1, %
--------------------------------------------------------------------------------
Capita 25.8 18.4 40% 25.8 18.4 40% 27.7 -7% 27.1 19.1
l
adequ
acy
ratio
1, %
--------------------------------------------------------------------------------
Write- 0.01 0.01 0% 0.00 0.03 -100% -0.02 - 0.02 0.03
downs
on
credi
ts /
total
loan
book,
%
--------------------------------------------------------------------------------
1) At the end of the period.
--------------------------------------------------------------------------------
The Interim Report January - September 2015 is a translation of
the original Swedish version ”Delårsrapport 1.1-30.9.2015”. In
case of discrepancies, the Swedish version shall prevail.
--------------------------------------------------------------------------------
Helsinki 17 November 2015
AKTIA BANK PLC
The Board of Directors
Financial Calendar 2015-2016:
Annual accounts announcement 1-12/2015: 12 February 2016
Annual General Meeting: 12 April 2016
Interim report 1-3/2016: 10.5.2016
Interim report 1-6/2016: 10.8.2016
Interim report 1-9/2016: 17.11.2016
CEO Jussi Laitinen, tel. +358 10 247 6250
CFO Fredrik Westerholm, tel. +358 10 247 6505
IR: Anna Virkola-Gabrán, tel. +358 10 247 6501, ir@aktia.fi
Media: Malin Pettersson, tel. +358 10 247 6369
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