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Aktia plc: Aktia modernises general banking systems and terminates its services as central credit institution for savings - and POP Banks

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Aktia modernises general banking systems and terminates its services as central credit institution for savings banks and POP Banks.

 

Aktia Plc     Stock Exchange release    29.1.2013     at 1 p.m.

In accordance with the company's Action plan 2015 (see Stock Exchange Release 8 November 2012), Aktia invests in a modern system for general banking. For Aktia, the costs of the investment, including migration from the old system, corresponds to IT expenses for one year, i.e. EUR 25 million. A modern system for general banking enables more efficient processes and considerably lower operating expenses. The new system is expected to be in use in 2015.

In the financial statements for 2012, Aktia includes provisions of approximately EUR 6 million for migration from the old system. The provisions have no impact on the company's earlier presented outlook for 2012.

The role as central credit institution following new regulation, Basel III, would be a significant burden for Aktia, both in the respect of profit and liquidity. Therefore, Aktia will not invest in new technique to carry on as central credit institution, but does, together with the savings banks and POP Banks, phase out the services provided to be terminated at the beginning of 2015.

The migration to the new system for general banking is made in close collaboration with the current IT operator Samlink.

The change has no effect on Aktia's, the savings banks' or POP Banks' customer service, nor on the terms of the services.

 

AKTIA PLC

Jussi Laitinen, CEO, tel. +358 10 247 6250
Stefan Björkman, Deputy Managing Director, tel. +358 10 247 6595

 

Distribution:
Nasdaq OMX Helsinki Ltd
Central media
www.aktia.fi

Aktia in brief:
Aktia Group provides a broad range of products within banking, insurance and real estate agency. Aktia operates mainly in coastal areas and inland growth areas. Aktia has about 400,000 customers who are served by nearly 1,100 employees at 70 branch offices and via Internet and telephone services. Aktia's shares are listed on the list of NASDAQ OMX Helsinki Ltd. For more information about Aktia, see www.aktia.fi