Aktia Bank plc: Interim Report 1.1-31.3.2016
Aktia Bank plc
Interim Report 1.1-31.3.2016
10.5.2016 at 8.00 a.m.
SATISFACTORY RESULT IN A CHALLENGING MARKET
CEO JUSSI LAITINEN
”The beginning of the year, with market turbulence and general unrest concerning the Finnish economy, was a challenge, and in combination with the slow development of the financial markets, the impact on Aktia’s income was negative. We managed to keep expenses under control despite one-time costs related to the conclusion of Action Plan 2015 and intensified efforts in the project to renew our core banking platform.
Aktia’s strong capital adequacy enables focus on growth in the following three years. The number of new customers has already improved this year, and lending is also on the increase.
Aktia celebrated its 190th anniversary in April. Aktia of today is a modern bank with long traditions. In April we introduced new mobile services and expanded our cooperation with the R-kioski chain of convenience stores. We look forward to the launch of our new core banking platform, enabling further modernisation of our services and products.”
JANUARY- MARCH 2016: OPERATING PROFIT EUR 14.6 (17.0) MILLION
- The Group’s operating profit was EUR 14.6 (17.0) million and the profit was EUR 11.9 (13.0) million.
- Net commission income decreaced by 4% to EUR 18.9 (19.7) million. Net interest income (NII) dropped by 3% to EUR 24.6 (25.5) million.
- Earnings per share (EPS) was EUR 0.18 (0.20).
- Aktia’s Common Equity Tier 1 capital ratio amounted to 19.5 (20.7)%.
- Equity per share stood at EUR 9.56 (31 Dec 2015; 9.26).
- Write-downs on credits and other commitments continued low and stood at EUR -0.1 (-1.0) million.
- OUTLOOK 2016 (unchanged, p. 13): Aktias operating profit for 2016 is expected to reach an approximately similar level as in 2015.
| KEY FIGURES (EUR million) | 1Q2016 | 1Q2015 | 1Q/1Q | 2015 | 4Q2015 | 1Q/4Q | 3Q2015 | 2Q2015 |
| Net interest income | 24.6 | 25.5 | -3% | 97.3 | 23.7 | 4% | 23.8 | 24.3 |
| Net commission income | 18.9 | 19.7 | -4% | 80.0 | 18.9 | 0% | 19.7 | 21.7 |
| Total operating income | 50.4 | 53.1 | -5% | 208.4 | 51.9 | -3% | 49.3 | 54.0 |
| Total operating expenses | -36.5 | -35.7 | 2% | -144.4 | -40.5 | -10% | -32.4 | -35.8 |
| Write-downs on credits and other commitments | -0.1 | -1.0 | -93% | -0.3 | -0.3 | -75% | -0.5 | 1.5 |
| Operating profit | 14.6 | 17.0 | -14% | 64.2 | 11.1 | 31% | 16.4 | 19.7 |
| Cost-to-income ratio | 0.72 | 0.67 | 7% | 0.69 | 0.78 | -8% | 0.66 | 0.66 |
| Earnings per share (EPS), EUR | 0.18 | 0.20 | -9% | 0.78 | 0.13 | 38% | 0.20 | 0.25 |
| Equity per share (NAV)1, EUR | 9.56 | 9.59 | 0% | 9.26 | 9.26 | 3% | 9.20 | 9.05 |
| Return on equity (ROE), % | 7.6 | 7.5 | 2% | 7.9 | 5.4 | 41% | 8.0 | 9.6 |
| Common Equity Tier 1 capital ratio1, % | 19.5 | 22.6 | -14% | 20.7 | 20.7 | -6% | 20.5 | 22.4 |
| Capital adequacy ratio1, % | 25.6 | 27.1 | -5% | 27.1 | 27.1 | -5% | 25.8 | 27.7 |
| Write-downs on credits / total loan book, % | 0.00 | 0.02 | -100% | 0.01 | 0.00 | - | 0.01 | -0.02 |
1) At the end of the period.
The Interim Report January - March 2016 is a translation of the original Swedish version ”Delårsrapport 1.1-31.3.2016”. In case of discrepancies, the Swedish version shall prevail.
Financial Calendar 2016:
Interim report 1-6/2016 10.8.2016 at 8.00 am
Interim report 1-9/2016 17.8.2016 at 8.00 am
AKTIA BANK PLC
CEO Jussi Laitinen, tel. +358 10 247 6250
CFO Fredrik Westerholm, tel. +358 10 247 6250
Investor Relations Anna Virkola-Gabrán, tel.+35810 247 6501, ir(at)aktia.fi