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Aktia Bank plc: Interim report 1 January - 30 June 2015

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Aktia Bank plc
Interim report 1 January - 30 June 2015
11 August 2015 at 08:00 a.m.

 

STRONG GROWTH BOTH IN COMMISSIONS AND NEW LENDING
 

CEO JUSSI LAITINEN
”Aktia achieved a good result for the first six months of 2015, showing continued growth in commission income. Income increased from mutual funds and asset management,which is a sign of increased interest for saving. The housing market has shown increased activity during the spring, and Aktia’s new lending to private households increased by one third. Net interest income from Aktia’s borrowing and lending operations increased, while income from maturing interest rate hedges dropped as expected. Write-downs on credits were at a very low level. Testing of the new core banking system continues, and it will be intensified during the autumn. Aktia’s Common Equity Tier 1 capital ratio remains on a very high level at 22.4%.”
 

APRIL-JUNE 2015: OPERATING PROFIT EUR 19.7 (22.0) MILLION

  • The Group’s operating profit was EUR 19.7 (22.0) million and profit for the period was EUR 16.5 (17.9) million.
  • Net commission income strengthened by 11% to EUR 21.7 (19.6) million. Net interest income (NII) was EUR 24.3 (25.9) million.
  • Earnings per share (EPS) was EUR 0.25 (0.27).
     

JANUARY-JUNE 2015: OPERATING PROFIT EUR 36.7 (38.4) MILLION

  • The Group’s operating profit was EUR 36.7 (38.4) million and profit for the period was EUR 29.5 (31.0) million.
  • Net commission income strengthened by 8% to EUR 41.3 (38.4) million and borrowing totalled EUR 3,957 (3,979) million. Net interest income (NII) dropped by 3% to EUR 49.8 (51.4) million.
  • Earnings per share (EPS) was EUR 0.45 (0.46).
  • The transition to IRB approach increased Aktia’s Common Equity Tier 1 capital ratio and stood at 22.4 (14.6)%.
  • Equity per share stood at EUR 9.05 (31.12.2014; 9.39).
  • Write-downs on credits and other commitments were positive and stood at EUR 0.4 (-1.2) million.
  • OUTLOOK 2015 (unchanged, p. 13): Aktia’s operating profit for 2015 is expected to reach a similar level as 2014.

    

KEY FIGURES
(EUR million)		 4-6/2015 4-6/2014 ∆ %      1-6/2015 1-6/2014 ∆ %      1-3/2014 ∆ %      2014
Net interest income 24.3 25.9 -6% 49.8 51.4 -3% 25.5 -5% 102.8
Net commission income 21.7 19.6 11% 41.3 38.4 8% 19.7 10% 74.9
Total operating income 54.0 58.4 -8% 107.1 110.5 -3% 53.1 2% 212.3
Total operating expenses -35.8 -36.2 -1% -71.5 -72.3 -1% -35.7 0% -144.5
Write-downs on credits and other commitments 1.5 -0.8 - 0.4 -1.2 - -1.0 - -1.7
Operating profit 19.7 22.0 -10% 36.7 38.4 -5% 17.0 16% 68.3
Cost-to-income ratio 0.68 0.64 6% 0.67 0.68 -1% 0.65 5% 0.71
Earnings per share (EPS), EUR 0.25 0.27 -6% 0.45 0.46 -3% 0.20 28% 0.79
Equity per share (NAV)1, EUR 9.05 8.96 1% 9.05 8.96 1% 9.59 -6% 9.39
Return on equity (ROE), % 9.6 11.1 -13% 8.7 9.5 -9% 7.5 28% 8.3
Common Equity Tier 1 capital ratio1, % 22.4 13.8 63% 22.4 13.8 63% 22.6 -1% 14.6
Capital adequacy ratio1, % ** 27.7 17.8 56% 27.7 17.8 56% 27.1 2% 19.1
Write-downs on credits / total loan book, % -0.02 0.01 - -0.01 0.02 - 0.02 - 0.03

  1) At the end of the period
The  Interim Report January - June 2015 is a translation of the original Swedish version ”Delårsrapport 1.1-30.6.2015”. In case of discrepancies, the Swedish version shall prevail.t the end of the period.

  
Calendar:
Interim Report Jan - Sep 2015               17 November 2015
Annual accounts announcement 2015   12 February 2016
Annual General Meeting 2016               12 April 2016
Interim report Jan - March 2016             10 May 2016
Interim report Jan - June 2016               10 August 2016
Interim report Jan - Sep 2016                 17 November 2016
  

Aktia provides a broad range of products within banking, insurance and real estate agency.¬ Aktia operates in Finland's coastal areas and inland growth areas. Aktia has some 300,000 customers who are served by more than 900 employees at 50 branch offices and via Internet and telephone services. Aktia's shares are listed on NASDAQ OMX Helsinki Ltd. For more information about Aktia, see www.aktia.com

 

 

         CEO Jussi Laitinen, tel. +358 10 247 6250
         CFO Fredrik Westerholm, tel. +358 10 247 6505
         Funding & IR Anna Virkola-Gabrán, tel. +358 10 247 6501, ir (at) aktia.fi

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