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AKTIA PLC INTERIM REPORT 1 JANUARY - 31 MARCH 2011

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CEO JUSSI LAITINEN:

"This year started well. The sale of insurance policies through Aktia’s branch offices increased clearly. Commission income was up and compensated for the decline of net interest income. Operating profit improved and both the capital adequacy ratio and the Tier 1 capital ratio were strengthened. The European financial crisis continues to worry, and interest rates have risen quickly, which had a negative impact on the value of Aktia’s financial assets."

 

JANUARY-MARCH 2011: OPERATING PROFIT EUR 18.8 (17.5) MILLION

  • Group operating profit improved 8% to EUR 18.8 (17.5) million and the profit for the period to EUR 14.2 (12.5) million.
  • Earnings per share was EUR 0.20 (0.18).
  • Operating income was EUR 62.6 (61.0) million and operating expenses EUR -40.1 (-38.9) million
  • Balance sheet total amounted to EUR 10,772 (11,019) million.
  • Capital adequacy ratio stood at 16.0 (31.12.2010; 15.9)% and Tier 1 capital ratio 10.3 (31.12.2010; 10.1)%.
  • Return on equity was 11.9 (10.5)%
  • Write-downs on credits and outstanding premiums stood at EUR -3.6 (-4.6) million.
  • Aktia Bank plc’s credit rating remained unchanged A1/C/P-1 (Moody’s Investors Service).
  • Unchanged outlook 2011 (complete outlook on page 13)

 

KEY FIGURES
(EUR million)		 1-3/   2011 1-3/   2010 ∆%  10-12/  2010 ∆ %  2010
Net interest income 34.7 38.5 -10% 35.9 -3% 149.3
Total operating income 62.6 61.0 3% 62.0 1% 249.4
Total operating expenses -40.1 -38.9 3% -44.1 -9% -159.0
Operating profit before write-downs on credits 22.4 22.1 2% 17.8 26% 92.0
Write-downs on credits, other commitments and outstanding premium receivables -3.6 -4.6 -22% -4.3 -16% -14.1
Operating profit 18.8 17.5 8% 13.5 39% 77.9
             
Cost-to-income ratio 0.63 0.57 11% 0.68 -7% 0.59
Earnings per share (EPS), EUR 0.20 0.18 14% 0.14 44% 0.83
Equity per share (NAV)1, EUR 6.14 6.86 -10% 6.81 -10% 6.81
Return on equity (ROE), % 11.9 10.5 14% 7.9 51% 12.0
Capital adequacy ratio1, % 16.0 16.2 -2% 15.9 0% 15.9
Tier 1 capital ratio1, % 10.3 9.6 8% 10.1 2% 10.1
Write-downs on credits / total credit stock, % 0.05 0.08 -38% 0.06 -17% 0.20

   1) At the end of the period

"Interim report January - March 2011" is a translation of the original report in Swedish ("Delårsrapport 1.1-31.3.2011"). In case of discrepancies, the Swedish version prevails.

 

         For further information please contact:
         CEO Jussi Laitinen tel. 358 10 247 5000
         Deputy CEO, CFO Stefan Björkman tel. +358 10 247 6595
         IR Manager Anna Gabrán tel. +358 10 247 6501, anna.gabran(at)aktia.fi

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