Aktia Bank plc: Interim report 1 January - 31 March 2015

 

Aktia Bank plc
Interim report 1-3/2015
8 May 2015 at 8:00 a.m.

 

STRONG CAPITAL ADEQUACY ENABLES GROWTH


CEO JUSSI LAITINEN:
”Net commission income continued to grow. Net interest income was stable, remaining at the same level as in the previous year. We have managed to keep expenses under control and are now running tests in the new core banking system. The final time for implementation of the system and the total project costs will be settled after completed testing. Following the permission granted to apply the IRB approach, the Bank Group’s capital adequacy reached a record level, enabling Aktia to implement its new growth strategy.”

JANUARY-MARCH 2015: OPERATING PROFIT EUR 17.0 (16.4) MILLION

  • The Group’s operating profit amounted to EUR 17.0 (16.4) million and profit for the period amounted to EUR 13.0 (13.1) million.
  • Net commission income strengthened by 5% to EUR 19.7 (18.8) million and borrowing totalled to EUR 3,903 (3,979) million. Net interest income (NII) was almost unchanged and amounted to EUR 25.5 (25.4) million.
  • Earnings per share (EPS) was EUR 0.20 (0.20).
  • Applying IRBA increased Aktia’s Common Equity Tier 1 capital ratio to 22.6 (14.6)%.
  • Equity per share stood at EUR 9.59 (31.12.2014; 9.39).
  • Write-downs on credits and other commitments increased from the previous year amounting to EUR 1.0 (0,4) million.
  • OUTLOOK 2015 (unchanged, p. 12): Aktia’s operating profit for 2015 is expected to reach a similar level as 2014.

 

KEY FIGURES
(EUR million)
1-3/2015 1-3/2014 ∆ %      2014 10-12/ 2014 ∆ %      7-9/ 2014 4-6/ 2014
Net interest income 25.5 25.4 0% 102.8 25.3 1% 26.1 25.9
Net commission income 19.7 18.8 5% 74.9 18.9 4% 17.6 19.6
Total operating income 53.1 52.0 2% 212.3 51.7 3% 50.1 58.4
Total operating expenses -35.7 -36.1 -1% -144.5 -39.3 -9% -32.8 -36.2
Write-downs on credits and other commitments -1.0 -0.4 153% -1.7 0.0 - -0.5 -0.8
Operating profit 17.0 16.4 3% 68.3 12.6 35% 17.3 22.0
Cost-to-income ratio 0.65 0.72 -10% 0.71 0.78 -17% 0.69 0.64
Earnings per share (EPS), EUR 0.20 0.20 0% 0.79 0.14 45% 0.19 0.27
Equity per share (NAV)1, EUR 9.59 8.55 12% 9.39 9.39 2% 9.27 8.96
Return on Equity (ROE), % 7.5 8.2 -9% 8.3 6.0 24% 8.1 11.1
Common Equity Tier 1 capital ratio1, % 22.6 13.6 66% 14.6 14.6 55% 14.2 13.8
Capital adequacy ratio1, % ** 27.1 17.3 57% 19.1 19.1 42% 18.4 17.8
Write-downs on credits / total loan book, % 0.02 0.01 100% 0.03 0.00 - 0.01 0.01
1) At the end of the period.
 
 
The  Interim Report January -March 2015 is a translation of the original Swedish version ”Delårsrapport 1.1-31.3.2015”. In case of discrepancies, the Swedish version shall prevail.                   

 

Publication of financial results in 2015:
Interim report 1-6/2015: 11 August 2015
Interim report 1-9/2015: 17 November 2015

 

 

         For additional information please contact:
         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
         Media: Malin Pettersson, tel. +358 10 247 6369

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