Finland · Delayed Price · Currency is EUR Aktia Pankki Oyj Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw mixed results with strong commission income and asset management inflows, but profits were weighed down by market-driven declines in life insurance values. Operating profit fell 35% year-on-year, but recovery is expected as markets stabilize and new credit loss models are implemented.
Fiscal Year 2025
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Q4 delivered the year's strongest operating income, with robust international sales and stable profit despite a EUR 70 million impairment. Outlook for 2026 is steady, with growth in life and wealth offsetting lower banking income.
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Stable Q3 performance with slight sequential profit growth, but year-over-year declines due to lower interest rates. Asset management and premium banking drove growth, while credit impairments rose mainly from a single case. CET1 ratio remains strong at 13%.
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Q2 results were stable with a 15% year-over-year decline in operating profit due to lower interest rates, while AUM grew to EUR 15.9 billion. The Momentum programme is on track, delivering EUR 4 million in run rate improvements, and the CET1 ratio remains strong at 12.8%.
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Q1 saw stable results with a EUR 28.7M operating profit, 13.5% ROE, and strong cost control, despite lower net interest income from declining rates. The new Momentum program and strategy are progressing well, with robust lending growth and solid capital ratios.
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A new strategy acceleration program targets €20M recurring profit run rate by 2026, with ambitious 2029 goals: ROE above 15%, gross AUM over €25B, and 5% annual net commission income growth. Focus is on organic growth, cultural transformation, and technology investment.
Fiscal Year 2024
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Delivered record full-year results with 19% growth in comparable operating profit and strong customer satisfaction. All long-term financial targets were met early, but 2025 profit is expected to decline due to lower net interest income.
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Comparable operating profit rose 2% year-over-year, with strong life insurance and asset management results. Net interest income fell 7% due to a one-off, now resolved, while CET1 ratio improved to 11.9% and liquidity remained robust.
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Q2 saw strong financial results with a 21% rise in operating profit and robust performance across all business areas. Asset management net subscriptions turned positive, liquidity and capital ratios improved, and the 2024 outlook was raised, independent of restated 2023 figures.