Codetermination negotiations in Aktia Bank’s sales organisation concluded

Aktia Bank plc
Stock Exchange Release
9.2.2016 at 9 am

On 18 January 2016, Aktia Bank plc initiated codetermination negotiations in its sales organisation for financial and production-related reasons and reorganisation of operations in order to enhance effectiveness, achieve cost savings and meet the demands of continued digitalisation.

The codetermination negotiations in accordance with the Act on Co-operation within Undertakings have now been completed, resulting in a staff reduction of approximately 55 persons. Initially, the estimated staff reduction was 60 persons at a maximum. 

The reduction of staff generates a one-off cost of approximately EUR 1 million which was booked in the last quarter of 2015. The estimated annual cost savings amounts to approx. EUR 2 million.

The above measures are based on Aktia’s Action Plan 2015 and strategy Growth 2018. Aktia shall continue to be a strong player in the Finnish financial market, offering private and corporate customers competent financial advice in a broad range of channels.

Aktia Bank plc publishes its Accounts Announcement for 2015 and its Outlook for 2016 at approx. 8 a.m. on 12 February 2016.

AKTIA BANK PLC

Jussi Laitinen
CEO

All media contacts to Malin Pettersson, Head of Communications, tel. +358 10 247 6369

Distribution:
Nasdaq OMX Helsinki Oy
Central mass media
www.aktia.fi