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| Sektor | Finans |
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Aktia Bank Plc
Stock Exchange Release
6 November 2025 at 8.00 a.m.
Aktia Bank Plc's Interim report January-September 2025: Another stable quarter in terms of results
The quarter in short
- Comparable operating profit: EUR 27.4 million, 13% lower than last year (31.5) mainly due to changes in the interest rate environment.
- Comparable return on equity (ROE): 12.8% (15.0%).
- Net commission income: 1% higher than last year, mainly thanks to higher income from structured products.
- Net interest income: Decreased as expected and was 6% lower than last year due to lower market rates.
- Net income from life insurance: 8% lower than last year due to, among other things, lower real estate values. The insurance business developed well.
- Comparable operating expenses: Decreased by 1% compared to last year, continued focus on cost control.
- Credit losses: EUR 3.8 (1.8) million, mainly due to individual impairments on a small number of credits.
- Assets under management: Increased by 2.3% to EUR 16.3 billion during the quarter thanks to positive net subscriptions in all key customer segments and a positive market development.
Outlook 2025
Aktia's comparable operating profit for 2025 is expected to be lower than the comparable operating profit for 2024, which amounted to EUR 124.5 million. (Published 12 February 2025)
The outlook is based on the following assumptions (updated 6 November 2025):
- Due to the lower interest rate level, the net interest income is expected to be lower than in 2024.
- The net commission income is expected to be approximately on the same level as in 2024. However, market uncertainty may have a negative impact on the net commission income.
- Life insurance operations are expected to develop steadily, but uncertainty regarding changes in market values and their impact on earnings has increased.
- Operating expenses are expected to increase slightly, given the continued investments in IT and the development of the general cost level.
- Credit losses are expected to remain at a moderate level. However, the uncertainty in the Finnish real estate sector in general, and one individual case in particular, is affecting the development of impairments and expected credit losses, resulting in higher ECL.
Anssi Huhta, CEO:
Aktia's third quarter of 2025 remained stable in terms of results and in line with previous quarters. The comparable operating profit for the quarter amounted to EUR 27.4 million, which I am pleased with, especially in this operating environment. In the current market conditions, with continued uncertainty in the real estate sector and weak labour market figures, Aktia's business model shows its strength and resilience.
The fact that the comparable operating profit was 13 per cent lower than in the third quarter last year is mainly due to the net interest income decreasing by EUR 2.1 million to EUR 34.0 million as a result of the lower interest rate environment. In addition, the uncertainty on the real estate market is reflected in higher credit losses from specific individual exposures.
On the other hand, the net commission income of EUR 31.2 million remained stable and at a slightly higher level than last year, while the net income from life insurance decreased by EUR 0.7 million to EUR 8.2 million. Cost control continued, and comparable operating expenses decreased by 1 per cent to EUR 42.3 million. The quarter's comparable return on equity was 12.8 per cent.
Good development in the business areas
In the third quarter, we once again achieved positive net subscriptions, driven by strong demand in our strategic Premium and Private Banking segments. Assets under management increased slightly and are now higher than at year-end.
Our top-level capabilities in asset management were once again recognised when the portfolio managers of the Aktia Emerging Market Local Currency Bond+ fund were awarded an AAA rating by Citywire. The rating is based on the performance of the funds managed by the portfolio managers.
The loan book remained stable, with continued growth in leasing, factoring, and hire purchase loans. For this profitable product group, the loan book has increased by 18 per cent since year-end. However, as I have previously stated, Aktia is not immune to the interest rate and market situation. This is to some extent reflected in the loan book, even though its quality has remained good in general. On another note, I am very happy that we are continuously attracting new customers and that the customer satisfaction among bank customers is particularly high: the NPS score in the third quarter was 59 for our customer service by phone and 75 for customer meetings.
The positive development of the life insurance business continued with good results in risk insurance and growth in investment-linked insurance. At the same time, the life insurance business is also affected by the market situation and, for example, real estate portfolio impairments are reflected in the results from investment activities. Overall, however, the result remained stable.
Humble in a difficult situation
As the newly appointed CEO, I would like to mention the swift changes in Aktia's management and the considerable attention that the topic has received. The situation has been difficult and the confidence in Aktia has suffered a blow. This is also reflected in the fact that rating agencies have changed their view on our outlook to negative, even though our ratings have remained unchanged.
First and foremost, I turn to our employees, customers and shareholders to express my regret for the situation. At the same time, I would like to emphasise that Aktia's focus is always on the business operations and our customers. We follow a clear strategy and remain committed to it every day as we work toward achieving our defined goals. I am extremely proud of the professional attitude of Aktia employees and their work for the benefit of the customers in all situations. I am also happy that the interest in Aktia as an investment object has remained strong during the quarter and that we have gained several new shareholders every month. Among our long-term shareholders, we have also seen some significant increases in shareholdings.
Long-term, strategic work
At our Extraordinary General Meeting in early October, we warmly welcomed banking veteran Juha Hammarén back to Aktia, now as the new Chair of the Board. Juha Hammarén stated after the meeting that the Board of Directors is now focusing on stability and peaceful working conditions for Aktia's management and the entire organisation in order to achieve the strategic goals for 2029. After assuming the role of CEO, I also had the pleasure of announcing three internal appointments to the Executive Committee: EVP, Asset Management Pasi Vuorinen, CRO Eva-Maria Broman-Rimpi, and CEO of Aktia Life Insurance Ltd Ville Niiranen.
Aktia's overall objective is to create prosperity. In order to continue to provide our customers with the best service, we will continue to develop our operations, services and products, and to invest in functionality and the digital customer experience. We have our sights set on the future, on growth, and on value creation. Together with our skilled employees, we will continue our determined and structured work to implement our strategy and Momentum acceleration programme.
Key Figures
| (EUR million) | Q3/2025 | Q3/2024 | ∆ | 1-9/2025 | 1-9/2024 | ∆ | Q2/2025 | ∆ | 1-12/2024 |
| Net interest income | 34.0 | 36.1 | -6% | 103.9 | 114.0 | -9% | 34.7 | -2% | 152.0 |
| Net commission income | 31.2 | 30.9 | 1% | 92.3 | 91.8 | 1% | 30.3 | 3% | 124.3 |
| Net income from life insurance | 8.2 | 8.9 | -8% | 22.7 | 23.9 | -5% | 8.0 | 2% | 30.2 |
| Total operating income | 73.5 | 76.1 | -3% | 220.3 | 230.1 | -4% | 73.3 | 0% | 308.8 |
| Operating expenses | -44.4 | -43.1 | 3% | -135.3 | -129.3 | 5% | -46.9 | -5% | -178.6 |
| Impairment of tangible and intangible assets | - | - | - | - | - | - | - | - | -25.0 |
| Impairment of credits and other commitments | -3.8 | -1.8 | 116% | -9.9 | -6.3 | 57% | -3.2 | 18% | -10.6 |
| Operating profit | 25.3 | 31.2 | -19% | 75.2 | 94.6 | -20% | 23.3 | 9% | 94.6 |
| Comparable operating income1 | 73.5 | 76.1 | -3% | 220.0 | 230.1 | -4% | 73.1 | 1% | 308.8 |
| Comparable operating expenses1 | -42.3 | -42.8 | -1% | -127.9 | -127.7 | 0% | -43.7 | -3% | -173.8 |
| Comparable operating profit1 | 27.4 | 31.5 | -13% | 82.3 | 96.2 | -14% | 26.2 | 4% | 124.5 |
| Cost-to-income ratio1 | 0.60 | 0.57 | 7% | 0.61 | 0.56 | 9% | 0.64 | -5% | 0.58 |
| Comparable cost-to-income ratio1 | 0.58 | 0.56 | 2% | 0.58 | 0.55 | 5% | 0.60 | -4% | 0.56 |
| Earnings per share (EPS), EUR | 0.27 | 0.34 | -19% | 0.83 | 1.05 | -21% | 0.25 | 8% | 1.04 |
| Comparable earnings per share (EPS), EUR1 | 0.30 | 0.34 | -13% | 0.90 | 1.06 | -15% | 0.29 | 4% | 1.37 |
| Return on equity (ROE), %1 | 11.8 | 14.9 | -3.1* | 11.7 | 15.3 | -3.6* | 10.8 | 1.0* | 11.4 |
| Comparable return on equity (ROE), %1 | 12.8 | 15.0 | -2.2* | 12.8 | 15.6 | -2.7* | 12.1 | 0.7* | 15.0 |
| Common Equity Tier 1 capital ratio (CET1), %2 | 13.0 | 11.9 | 1.1* | 13.0 | 11.9 | 1.1* | 12.8 | 0.1* | 12.0 |
| Dividend per share, EUR | 0.82 | ||||||||
| Payout ratio, %1 | 79 |
1) Alternative performance measures
2) At the end of the period
* The change is calculated in percentage points
Briefing for analysts, investors and media
Aktia's results briefing for analysts, investors and media will be held in English on Thursday 6 November 2025 at 10:30 a.m. Aktia's CEO Anssi Huhta and CFO Sakari Järvelä will present the results.
The briefing can be viewed live as a webcast or as a recording after the event at https://aktia.events.inderes.com/q3-2025. Questions can be submitted in writing during the live webcast.
Aktia Bank Plc
For more information:
Oscar Taimitarha, Director, Investor Relations, Tel. +358 40 562 2315, Email ir (at) aktia.fi
Distribution:
Nasdaq Helsinki Ltd
Mass media
www.aktia.com
Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 850 people around Finland. Aktia's gross assets under management (AuM) on 30 September 2025 amounted to EUR 16.3 billion, and the balance sheet total was EUR 12.3 billion. Aktia's shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.