Helsinki, Finland, 2017-02-14 07:00 CET (GLOBE NEWSWIRE) --
Aktia Bank plc
Financial Statement Release
14.2.2017 at 8:00 a.m.
CEO JUSSI LAITINEN
”Aktia achieved a satisfactory result for the whole year despite the slow start of the year. The market climate improved in Finland during 2016, and consumers’ confidence in their economy strengthened at the end of the year. Aktia’s lending improved by 8 per cent, showing growth both in housing loans and corporate lending. Asset Management increased both its sales and its assets under management, following successful product launches and focus on institutional customers. Net commission income recovered during the year, but it did not increase. The low interest rate level continues to press NII and puts further demands on high efficiency. Profits have been burdened by the core banking project, but the project is now close to the finish line, and implementation of the systems will commence during Q1 2017. Aktia’s mobile services are developed at an accelerating speed; the new digital wallet, Aktia Wallet, has already been downloaded by more than 30,000 users. Aktia continues its modernisation process with the aim to offer the customers more solutions for easier management of their daily economy.”
OCTOBER- DECEMBER 2016: OPERATING PROFIT EUR 8.6 (11.1) MILLION
- The Group’s operating profit was EUR 8.6 (11.1) million and the profit was EUR 6.5 (8.7) million.
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Net interest income (NII) decreased by 3% and amounted to EUR 23.0 (23.7) million.
Net commission income increased by 6% to EUR 20.1 (18.9) million. - Earnings per share (EPS) was EUR 0.10 (0.13).
JANUARY-DECEMBER 2016: OPERATING PROFIT EUR 61.5 (64.2) MILLION
- The Group’s operating profit was EUR 61.5 (64.2) million and the profit was EUR 49.3 (51.6) million.
- Excluding one-time gains from the sale of Visa Europe, the Group’s operating profit would have been EUR 54.6 (64.2) million and the profit for the period EUR 43.8 (51.6) million.
- Net interest income (NII) dropped by 2% to EUR 95.6 (97.3) million. Net commission income amounted to EUR 79.7 (80.0) million.
- Earnings per share (EPS) was EUR 0.74 (0.78).
- The Board of Directors proposes a dividend of EUR 0.60 per share, of which EUR 0.08 are attributable to one-time gains during the year.
- Aktia’s Common Equity Tier 1 capital ratio amounted to 19.5 (20.7)%.
- Equity per share stood at EUR 9.24 (9.26).
- Write-downs on credits and other commitments increased to EUR -2.2 (-0.3) million.
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OUTLOOK 2017 (p. 14): The operating profit for 2017 is estimated to be lower than in 2016, as no larger one-time gains are expected.
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KEY FIGURES (EUR million) |
4Q2016 | 4Q2015 | ∆% | 2016 | 2015 | ∆% | 3Q2016 | 4Q vs. 3Q | 2Q2016 | 1Q2016 |
| Net interest income | 23.0 | 23.7 | -3% | 95.6 | 97.3 | -2% | 23.9 | -4% | 24.1 | 24.6 |
| Net commission income | 20.1 | 18.9 | 6% | 79.7 | 80.0 | 0% | 20.0 | 1% | 20.7 | 18.9 |
| Total operating income | 50.6 | 51.9 | -2% | 211.4 | 208.4 | 1% | 50.9 | -1% | 59.4 | 50.4 |
| Total operating expenses | -40.5 | -40.5 | 0% | -148.4 | -144.4 | 3% | -34.6 | 17% | -36.8 | -36.5 |
| Write-downs on credits and other commitments | -1.5 | -0.3 | 455% | -2.2 | -0.3 | 545% | -0.5 | 235% | -0.1 | -0.1 |
| Operating profit | 8.6 | 11.1 | -22% | 61.5 | 64.2 | -4% | 15.8 | -46% | 22.4 | 14.6 |
| Cost-to-income ratio | 0.80 | 0.78 | 3% | 0.70 | 0.69 | 1% | 0.68 | 18% | 0.62 | 0.72 |
| Earnings per share (EPS), EUR | 0.10 | 0.13 | -23% | 0.74 | 0.78 | -5% | 0.19 | -47% | 0.27 | 0.18 |
| Equity per share (NAV)1, EUR | 9.24 | 9.26 | 0% | 9.24 | 9.26 | 0% | 9.35 | -1% | 9.15 | 9.56 |
| Return on equity (ROE), % | 4.2 | 5.4 | -21% | 8.0 | 7.9 | 2% | 8.4 | -49% | 11.6 | 7.6 |
| Common Equity Tier 1 capital ratio1, % | 19.5 | 20.7 | -6% | 19.5 | 20.7 | -6% | 19.2 | 2% | 19.7 | 19.5 |
| Capital adequacy ratio1, % | 26.3 | 27.1 | -3% | 26.3 | 27.1 | -3% | 25.5 | 3% | 26.2 | 25.6 |
| Dividend per share (proposal from Board of Directors) | 0.60* | 0.64** | -6% | |||||||
| Write-downs on credits / total loan book, % | 0.03 | 0.00 | - | 0.04 | 0.01 | 300% | 0.01 | 200% | 0.00 | 0.00 |
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1) At the end of the period. * A dividend of EUR 0.60 per share, of which EUR 0.08 are attributable to one-time gains. ** Including capital return of EUR 0.10 per share The Accounts Announcement January - December 2016 is a translation of the original Swedish version ”Bokslutskommuniké 1.1-31.12.2016”. In case of discrepancies, the Swedish version shall prevail. |
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CEO Jussi Laitinen, tel. +358 10 247 6250
CFO Fredrik Westerholm, tel. +358 10 247 6505
Head of IR Anna Gabrán, tel. +358 10 247 6501, ir(at)aktia.fi
