Aktia Pankki Oyj
Aktia Bank plc: Interim report 1 January – 30 June 2014
DGAP-News: Aktia Pankki Oyj 05.08.2014 / 07:00 --------------------------------------------------------------------- Helsinki, Finland, 2014-08-05 07:00 CEST (GLOBE NEWSWIRE) -- Aktia Bank plc Interim report 1 January-30 June 2014 5 August 2014 at 8.00 a.m. HIGHER COMMISSION INCOME AND LOWER COSTS CEO JUSSI LAITINEN 'Sales continued to increase even though the general market situation has not improved. Net commission income increased during the first half-year and Action Plan 2015 measures have resulted in cost-cuts. Our core banking project proceeds, and the new platform is planned to be taken into operation in 2015. As expected, the persistent low interest rate level had a negative impact on net interest income. In the second quarter the demand for housing loans and the number of household loans increased. Our customers desire to secure their finances can be seen in the increased volumes of payment protection insurance and an increased interest in monthly saving plans. Aktia's Core Tier 1 capital ratio strengthened further to 13.8%, exceeding regulatory requirements.' APRIL-JUNE 2014: OPERATING PROFIT EUR 22.0 (15.1) MILLION -- The Group's operating profit amounted to EUR 22.0 (15.1) million and profit for the period amounted to EUR 17.9 (11.0) million -- Net commission income increased by 5% to EUR 19.6 (18.6) million. Net interest income (NII) amounted to EUR 25.9 (28.3) million. -- Earnings per share (EPS) increased to EUR 0.27 (0.16) JANUARY- JUNE 2014: OPERATING PROFIT eur 38.4 (34.6) MILLION -- The Group's operating profit amounted to EUR 38.4 (34.6) million and profit for the period amounted to EUR 31.0 (25.8) million. -- Net commission income increased by 8% to EUR 38.4 (35.5) million and borrowing increased to EUR 3,978 (3,797) million. However, net interest income (NII) decreased to EUR 51.4 (58.4) million. -- Earnings per share (EPS) stood at EUR 0.46 (0.38). -- According to the Basel III capital requirement the capital adequacy ratio stood at 17.8% and the Core Tier 1 capital ratio at 13.8%. -- Equity per share stood at EUR 8.96 (31 December 2013: 8.67). -- Write-downs on credits and other commitments decreased to EUR 1.2 (1.5) million. -- OUTLOOK 2014 (unchanged): Despite the persistent low interest rate level, the Group's operating profit for 2014 is expected to reach approximately the 2013 level. KEY FIGURES 4-6/ 4-6/ ∆ % 1-6/ 1-6/ ∆ % 1-3/ ∆ % 2013 (EUR million) 2014 2013 2014 2013 2014 -------------------------------------------------------------------------------- Net interest 25.9 28.3 -8% 51.4 58.4 -12% 25.4 2% 112.6 income -------------------------------------------------------------------------------- Net commission 19.6 18.6 5% 38.4 35.5 8% 18.8 4% 70.7 income -------------------------------------------------------------------------------- Total 58.4 55.7 5% 110.5 113.2 -2% 52.0 12% 224.2 operating income -------------------------------------------------------------------------------- Total -36.2 -39.2 -8% -72.3 -76.8 -6% -36.1 0% -157.2 operating expenses -------------------------------------------------------------------------------- Write-downs on -0.8 -0.4 82% -1.2 -1.5 -23% -0.4 88% -2.7 credits and other commitments -------------------------------------------------------------------------------- Operating 22.0 15.1 46% 38.4 34.6 11% 16.4 34% 65.4 profit -------------------------------------------------------------------------------- Cost-to-income 0.64 0.70 -9% 0.68 0.68 0% 0.72 -11% 0.72 ratio -------------------------------------------------------------------------------- Earnings per 0.27 0.16 66% 0.46 0.38 20% 0.20 35% 0.78 share (EPS), EUR -------------------------------------------------------------------------------- Equity per 8.96 8.34 7% 8.96 8.34 7% 8.55 5% 8.67 share (NAV)1, EUR -------------------------------------------------------------------------------- Return on 11.1 6.9 60% 9.5 8.1 18% 8.2 34% 8.1 equity (ROE), % -------------------------------------------------------------------------------- Core Tier 1 13.8 - - 13.8 - - 13.6 1% 12.1 capital ratio1, % * -------------------------------------------------------------------------------- Capital 17.8 20.3 -12% 17.8 20.3 -12% 17.3 3% 19.3 adequacy ratio1, % ** -------------------------------------------------------------------------------- Tier 1 capital 13.8 12.1 14% 13.8 12.1 15% 13.6 2% 12.3 ratio1, % ** -------------------------------------------------------------------------------- Write-downs on 0.01 0.01 0% 0.02 0.02 0% 0.01 0% 0.04 credits / total credit stock, % -------------------------------------------------------------------------------- 1) At the end of the period * According to Basel III, **2014 according to Basel III, other periods 2013 according to Basel II -------------------------------------------------------------------------------- - The Interim report January-June 2013 is a translation of the original Swedish version 'Delårsrapport 1.1-30.6.2014'. In case of discrepancies, the Swedish version shall prevail. -------------------------------------------------------------------------------- - CEO Jussi Laitinen, tel. +358 10 247 6250 CFO Fredrik Westerholm, tel +358 10 247 6505 IR Anna Gabrán, tel. +358 10 247 6501 News Source: NASDAQ OMX --------------------------------------------------------------------- 05.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP 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 ISIN: FI4000058870 End of News DGAP News-Service --------------------------------------------------------------------- 280740 05.08.2014
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