Aktia Bank Plc
Stock Exchange Release
5 August 2025 at 8.00 a.m.
Aktia Bank Plc's Half-year report January-June 2025: Increase in assets under management and continued focus on the acceleration programme
Aktia performed well in the second quarter, which was characterised by a challenging operating environment. Strong focus on the Momentum acceleration programme, which has got off to a good start, generated concrete positive results in the form of new customers, positive net subscriptions, and operational improvements.
The quarter in short
- Comparable operating profit: EUR 26.2 million, 15% lower than last year (30.8) mainly due to changes in the interest rate environment.
- Comparable return on equity (ROE): 12.1% (14.9%).
- Net commission income: 2% lower than last year, mainly due to lower commissions from securities brokerage.
- Net interest income: Decreased as expected and was 11% lower than last year due to lower market rates.
- Net income from life insurance: 9% higher than last year, thanks to good investment activities and investment contract results.
- Comparable operating expenses: Decreased by 1% compared to last year, continued focus on cost control.
- Credit losses: EUR 3.2 million, mainly due to individual impairments on a small number of credits.
- Assets under management: Increased by 1.3% to EUR 15.9 billion during the quarter thanks to positive net subscriptions in all key customer segments and positive market development.
- Carl Haglund was appointed CEO of Aktia and will assume his responsibilities after an introductory period.
- The Momentum acceleration programme is progressing according to plan and has generated concrete positive results. The measures implemented so far are expected to have an annual result improving impact (run rate) of approximately EUR 4 million.
Outlook 2025 (unchanged)
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 has been prepared based on the following assumptions:
- 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.
- The life insurance business is expected to develop steadily. However, the result may be affected by changes in market values.
- 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 may affect the development of impairments and expected credit losses.
Anssi Huhta, Interim CEO:
The second quarter of the year was the first full quarter since the launch of our strategy update and our Momentum acceleration programme. We have worked purposefully on our strategic priorities and are seeing concrete results. We have also clearly increased our focus on customers in our strategic segments.
The operating environment remained challenging, with interest rates continuing to fall and the news flow affecting the markets and investor sentiment. With a 200-year perspective and an active market view, Aktia focuses on what we do best: creating value by taking good care of our customers and our customers' wealth - in all market conditions.
New customers, increased volumes and new investment opportunities
We have chosen to focus more strongly on our strategic customer segments: Premium, Private Banking, Institutions and SMEs. We see that these efforts are bearing fruit and we are attracting new customers in the segments. Both the entire loan book and assets under management increased during the quarter. Net subscriptions were positive in all strategic customer segments and the end of the quarter in particular was positive.
During the quarter, we launched the new equity fund Aktia Prosperity, which is classified as sustainable under SFDR Article 9. The private equity fund Aktia SolarWind III was open for subscriptions for the final time in June and received subscriptions amounting to no less than EUR 180 million. The demand for the private equity fund Aktia Debt Fund II also remained active.
Interest rate environment affects income
The comparable operating profit for the quarter, EUR 26.2 million, was 15% lower than last year. The change is mainly due to a negative impact on the interest income from lending as a result of the changed interest rate level, and the net interest income decreased by EUR 4.1 million to EUR 34.7 million. On the other hand, the net commission income of EUR 30.3 million remained stable at approximately the same level as last year, while the net income from life insurance increased by EUR 0.7 million to EUR 8.0 million due to the good results from investment activities and investment contracts. Thus, operating income was largely in line with the previous quarter. Cost control continued, but the individual impairments of a small number of credits are reflected in the result. The quarter's comparable return on equity was 12.1%.
Strategic acceleration programme - Momentum
The strategic plan for value creation and the acceleration programme provide a clear direction for the work of the entire Group. The strengthening of the asset management business continued, for example, with the recruitment of several experienced specialists to key roles. The recruitments support Aktia's strategy, which, at its core, aims to offer reliable asset management services to a growing customer base.
The focus on Premium customers was visible in the launch of our renewed Premium concept. The banking business has been reorganised so that the customers who have placed their confidence in Aktia to manage their significant investment and financing matters will receive first-class advice from their own Premium banker. I am very proud of the high level of advisory services we offer our customers, of the solid competence of our employees and of the fact that we are effectively offering more and more customers Private Banking-level services.
A key enabler for all our activities is IT, and during the quarter, several IT milestones were achieved. For instance, a significant part of our servers were moved to cloud services.
Thriving employees
During the quarter, we conducted an extensive employee survey, which once again gave positive signals, with a net promoter score (eNPS) of 29. Our new culture index, which we measure in accordance with our strategy, was 4.3 on a scale of one to five. I am very pleased with these results. I interpret them as indicating that our employees are motivated and that our corporate culture benefits from having clear, common objectives. I would like to thank all our employees who have energetically embraced the execution of the new strategic plan.
Creating the best possible environment for our employees to succeed and working for a culture where we achieve our goals together is high up on the management's agenda. This is also a guiding principle for me during the time I carry the baton as interim CEO, until Carl Haglund takes over as CEO. On behalf of myself and all Aktia employees, I would like to warmly welcome Carl Haglund to Aktia.
We have our sights set on the future, on growth and on value creation. We will continue our determined work to implement our strategy.
Key Figures
| (EUR million) | Q2/2025 | Q2/2024 | ?% | Jan-Jun/2025 | Jan-Jun/2024 | ? % | Q1/2025 | ? % | Jan-Dec/2024 |
| Net interest income | 34.7 | 38.8 | -11% | 69.9 | 77.9 | -10% | 35.2 | -1% | 152.0 |
| Net commission income | 30.3 | 30.8 | -2% | 61.1 | 61.0 | 0% | 30.8 | -2% | 124.3 |
| Net income from life insurance | 8.0 | 7.4 | 9% | 14.6 | 15.0 | -3% | 6.5 | 23% | 30.2 |
| Total operating income | 73.3 | 76.7 | -4% | 146.8 | 154.0 | -5% | 73.5 | 0% | 308.8 |
| Operating expenses | -46.9 | -44.8 | 5% | -90.9 | -86.2 | 5% | -44.0 | 6% | -178.6 |
| Impairment of tangible and intangible assets | - | - | - | - | - | - | - | - | -25.0 |
| Impairment of credits and other commitments | -3.2 | -1.8 | 78% | -6.1 | -4.5 | 34% | -2.9 | 11% | -10.6 |
| Operating profit | 23.3 | 30.1 | -23% | 49.9 | 63.4 | -21% | 26.6 | -13% | 94.6 |
| Comparable operating income1 | 73.1 | 76.7 | -5% | 146.6 | 154.0 | -5% | 73.5 | -1% | 308.8 |
| Comparable operating expenses1 | -43.7 | -44.1 | -1% | -85.6 | -84.8 | 1% | -41.9 | 4% | -173.8 |
| Comparable operating profit1 | 26.2 | 30.8 | -15% | 54.9 | 64.7 | -15% | 28.7 | -9% | 124.5 |
| Cost-to-income ratio1 | 0.64 | 0.58 | 9% | 0.62 | 0.56 | 11% | 0.60 | 7% | 0.58 |
| Comparable cost-to-income ratio1 | 0.60 | 0.57 | 4% | 0.58 | 0.55 | 6% | 0.57 | 5% | 0.56 |
| Earnings per share (EPS), EUR | 0.25 | 0.33 | -24% | 0.55 | 0.71 | -22% | 0.30 | -15% | 1.04 |
| Comparable earnings per share (EPS), EUR1 | 0.29 | 0.34 | -16% | 0.61 | 0.72 | -16% | 0.32 | -11% | 1.37 |
| Return on equity (ROE), %1 | 10.8 | 14.5 | -3.8* | 11.9 | 15.8 | -3.9* | 12.5 | -1.8* | 11.4 |
| Comparable return on equity (ROE), %1 | 12.1 | 14.9 | -2.7* | 13.1 | 16.1 | -3.0* | 13.5 | -1.4* | 15.0 |
| Common Equity Tier 1 capital ratio (CET1), %2 | 12.8 | 11.5 | 1.3* | 12.8 | 11.5 | 1.3* | 13.0 | -0.2* | 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 Tuesday 5 August 2025 at 10:30 a.m. Aktia's interim 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/q2-2025. 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 June 2025 amounted to EUR 15.9 billion, and the balance sheet total was EUR 12.2 billion. Aktia's shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.
