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
JANUARY- JUNE 2014: OPERATING PROFIT eur 38.4 (34.6) MILLION
KEY FIGURES (EUR million) |
4-6/ 2014 | 4-6/ 2013 | ∆ % | 1-6/ 2014 | 1-6/ 2013 | ∆ % | 1-3/ 2014 | ∆ % | 2013 |
Net interest income | 25.9 | 28.3 | -8% | 51.4 | 58.4 | -12% | 25.4 | 2% | 112.6 |
Net commission income | 19.6 | 18.6 | 5% | 38.4 | 35.5 | 8% | 18.8 | 4% | 70.7 |
Total operating income | 58.4 | 55.7 | 5% | 110.5 | 113.2 | -2% | 52.0 | 12% | 224.2 |
Total operating expenses | -36.2 | -39.2 | -8% | -72.3 | -76.8 | -6% | -36.1 | 0% | -157.2 |
Write-downs on credits and other commitments | -0.8 | -0.4 | 82% | -1.2 | -1.5 | -23% | -0.4 | 88% | -2.7 |
Operating profit | 22.0 | 15.1 | 46% | 38.4 | 34.6 | 11% | 16.4 | 34% | 65.4 |
Cost-to-income ratio | 0.64 | 0.70 | -9% | 0.68 | 0.68 | 0% | 0.72 | -11% | 0.72 |
Earnings per share (EPS), EUR | 0.27 | 0.16 | 66% | 0.46 | 0.38 | 20% | 0.20 | 35% | 0.78 |
Equity per share (NAV)1, EUR | 8.96 | 8.34 | 7% | 8.96 | 8.34 | 7% | 8.55 | 5% | 8.67 |
Return on equity (ROE), % | 11.1 | 6.9 | 60% | 9.5 | 8.1 | 18% | 8.2 | 34% | 8.1 |
Core Tier 1 capital ratio1, % * | 13.8 | - | - | 13.8 | - | - | 13.6 | 1% | 12.1 |
Capital adequacy ratio1, % ** | 17.8 | 20.3 | -12% | 17.8 | 20.3 | -12% | 17.3 | 3% | 19.3 |
Tier 1 capital ratio1, % ** | 13.8 | 12.1 | 14% | 13.8 | 12.1 | 15% | 13.6 | 2% | 12.3 |
Write-downs on credits / total credit stock, % | 0.01 | 0.01 | 0% | 0.02 | 0.02 | 0% | 0.01 | 0% | 0.04 |
1) At the end of the period * According to Basel III, **2014 according to Basel III, other periods 2013 according to Basel II |
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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