Aktia Pankki Oyj
Aktia Bank plc aims to apply for concession as mortgage bank
Aktia Pankki Oyj 12.09.2012 08:45 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Stock Exchange Release 12.9.2012 at 9.45 a.m. Helsinki, Finland, 2012-09-12 08:45 CEST (GLOBE NEWSWIRE) -- Aktia Bank plc aims to apply for concession as mortgage bank The renewed Act on Mortgage Credit Banks enables deposit banks, such as Aktia Bank, to issue covered bonds directly from the banks' balance sheets. The new Act on Mortgage Credit Banks enables a considerably more cost-effective credit process. Aktia Bank aims to apply for concession as mortgage bank from the Financial Supervisory Authority in 2013. At present, Aktia is improving efficiency of processes and working methods in Aktia Group as a whole. Following changed regulation, it is more favourable for Aktia Bank to issue covered bonds directly than the current arrangement with issues through a separate mortgage bank, the subsidiary Aktia Real Estate Mortgage Bank plc. For more than 10 years, Aktia Bank has successfully used covered bonds issued through Aktia Real Estate Mortgage Bank as source of financing. Aktia Real Estate Mortgage Bank is co-owned by Aktia Bank, savings banks and POP Banks. For now, the owners of Aktia Real Estate Mortgage Bank grant new loans from their respective balance sheets, and the activities of Aktia Real Estate Mortgage Bank will focus on the management and re-financing of the current credit stock. All owners of Aktia Real Estate Mortgage Bank are also in future responsible for capitalization and senior financing of the bank in accordance with the current shareholders' agreement. Aktia Bank offers its subsidiary Aktia Real Estate Mortgage Bank's liquidity limits, and aims to manage the mortgage bank activities in a way that secures the interests of financiers and investors of Aktia Real Estate Mortgage Bank. AKTIA BANK PLC For more information, please contact: Stefan Björkman, Deputy Managing Director, CFO, tel. +358 10 247 63219 From: Anna Gabrán, Investor Relations Manager, tel. +358 10 247 6501, +358 40 708 1807 Distribution: Nasdaq OMX Helsinki Oy Centrala massmedier www.aktia.fi News Source: NASDAQ OMX 12.09.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Aktia Pankki Oyj Finland Phone: Fax: E-mail: Internet: ISIN: FI0003016360 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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