ALISA BANK PLC STOCK EXCHANGE RELEASE, INSIDER INFORMATION 16.12.2024 AT 15.35 EET
Alisa Bank brings down the outlook for 2024. The prolonged uncertainty in the operating environment and weak overall economic development are weakening the company's profit performance. Growth in business financing has fallen short of targets due to a decrease in the utilization rate of factoring limits and a general decline in the demand for financing.
In the second half of the year, the relative profitability of the balance sheet has improved; however, due to the unfavorable development in financing volumes, the bank's income is expected to remain close to last year's level. Consequently, the profit forecast is weaker than previously anticipated.
New outlook for 2024
The prolonged uncertainty in the operating environment is expected to weaken profit performance in 2024. Income is estimated to remain close to the 2023 level, and the operating profit before non-recurring items and taxes for the 2024 financial year is estimated to be between -0.4 and 0.2 million euros.
The group's total capital adequacy ratio is expected to exceed 16 percent at the end of the 2024 financial year.
Previous outlook for 2024, that was published in connection with the half year financial report
The prolonged uncertainty of the operating environment, the decline in interest rates and delay in strengthening the company's capital structure continues to challenge the financial performance in 2024.
When the financial goals of the combination with PURO Finance Ltd are fully realised both on the income and expenses side, total income will increase in 2024 compared to 2023 and profit before one-off items and taxes for the financial year 2024 is estimated to be slightly profitable (EUR 0.5-1.5 million).
The target for the group's total capital ratio is 16 percent.
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi, tel. +358 40 555 9035
Alisa Bank in brief
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc's shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
