Aktia Bank Plc
Stock Exchange Release
5 February 2026 at 8.00 a.m.
Aktia Bank Plc's Financial Statement Release January-December 2025: Stable fourth quarter marked by solid operating income and positive development in international sales
The quarter in short
- Comparable operating income: EUR 75.6 million, the strongest quarter of the year and only 4% lower than in the previous year.
- Net interest income: Decreased as expected and was 8% lower than last year due to lower market rates.
- Net commission income: At the same level as last year.
- Net income from life insurance: 24% higher than last year mainly due to favourable market conditions. Development in risk and unit-linked insurance was good.
- Comparable operating expenses: At the same level as last year, continued cost control.
- Credit losses: EUR 5.9 (4.3) million; the increase is mainly due to one individual counterpart. Otherwise, moderate risk level.
- Comparable operating profit: EUR 23.7 (28.3) million, 16% lower than last year, mainly due to changes in the interest rate environment and higher provisions for credit losses.
- Comparable return on equity: 11.2% (13.1%).
- Assets under management: Increased by 2% to EUR 16.6 billion during the quarter thanks to positive developments, especially among international institutions.
- Impairment of intangible assets and goodwill: EUR 70.1 million related to the Taaleri acquisition, as a result of more clearly defined strategic priorities.
Outlook 2026
Aktia's comparable operating profit for 2026 is expected to remain approximately at the same level as the comparable operating profit for 2025, EUR 106.0 million.
The outlook is based on the following assumptions:
- The asset management and life insurance business is expected to develop positively.
- Commission income from funds, asset management and securities brokerage is expected to be somewhat higher than in 2025. However, any potential market uncertainty may have a negative impact on the net commission income.
- In the life insurance business, the investment contract and insurance service results are expected to be higher than in 2025. However, the total life insurance business result is affected by actuarial assumptions that are updated regularly and by changes in market values, which is typical for the sector.
- The banking business result is expected to be lower than in 2025. Net interest income from the banking business is expected to decrease due to the low level of market interest rates, while the net commission income is expected to be somewhat higher.
- The operating expenses are expected to increase, considering the continued investments in IT and the development of the general cost level.
- Credit losses are expected to be lower than in 2025. However, the uncertainty in the Finnish real estate sector may affect the development of impairments and expected credit losses.
Proposed dividend
Aktia's Board of Directors proposes, that a dividend of EUR 0.80 per share to be paid for 2025 in accordance with the capital and dividend policy.
Anssi Huhta, CEO:
Aktia's year 2025 was marked by the implementation of the updated strategy which was launched at the beginning of the year. Our diversified business model proved its strength in practice and the year was stable in terms of results. This also applied to the last quarter of the year.
The number of Private Banking, Premium and SME corporate customers continued to increase and the international sales accelerated. The Unit-linked insurance portfolio reached a new record level and the loan book increased, driven by demand for leasing, factoring and hire purchase. I am also pleased that in terms of operating income, we were able to finish 2025 with the best quarter of the year. The operating income for the quarter, which amounted to EUR 75.6 million, was only slightly lower than the extraordinarily strong fourth quarter of the previous year.
Comparable operating expenses remained under control and at the previous year's level. On the other hand, credit losses increased in the fourth quarter, mainly due to individual impairments on a small number of credits. Overall, the comparable operating profit for the last quarter of the year was EUR 23.7 million, while the comparable operating profit for the full year amounted to EUR 106.0 million. The result for the year led to a comparable return on equity of 12.8% for 2025.
Assets under management continued to increase for the third consecutive quarter and grew to EUR 16.6 billion. In particular, international sales developed very well, with net subscriptions amounting to EUR 170 million during the quarter. International institutional customers once again showed a particular interest in our globally recognised fixed income funds.
Strong customer and employee experience
Surveys during the quarter showed once again how the systematic work with our Aktia Experience concept is yielding results. I am very happy that the annual, independent EPSI customer satisfaction survey revealed Aktia to be the most proactive player in the market, according to private investors.
During the quarter, an extensive employee survey was also conducted. Our employee net promoter score (eNPS) was +28, which exceeds the target level for 2025 of at least 20 stated in Aktia's sustainability programme.
Impairments due to strategic choices
Wealth management is a key element in our strategy, and we have further specified and clarified our strategic choices regarding selected focus and growth areas. We have chosen to aim for growth through, for example, increased international sales of our fixed income funds and by offering comprehensive allocation and wealth management services particularly to our Premium and Private Banking customers. At the same time, the importance of the operations obtained through the acquisition of Taaleri Plc's wealth management business in 2021 is decreasing.
We have therefore made a new assessment of the value of our intangible assets and an impairment test for goodwill. This resulted in impairments of EUR 70.1 million, which affect the reported result for the fourth quarter. The impairments did not, however, affect our comparable result or our strong Common Equity Tier 1 capital ratio.
The next phase of our strategic plan
The implementation of our strategic plan and the Momentum acceleration programme has entered the next phase. The initiatives and monitoring of the successful acceleration programme have been integrated into our operations, while our overarching view of operations has become more clearly defined. It is becoming increasingly clear to us that our business model is twofold: on the one hand, we have the capital-light life insurance and asset management business with a strong growth potential, and on the other hand, we have the stable - but more capital-intensive - banking business. These two areas complement each other, but benefit from separate governance, target-setting and monitoring.
In life insurance and asset management, we are making concrete investments in our sales networks. For example, our subsidiary Aktia Yrittäjäturva is significantly increasing its number of agents, while international sales of our funds are supported through increased sales force and an expanded partner network. In banking, we continue to increase profitability through leasing, factoring, and hire purchase sales, among other things.
Our 200th anniversary
With the start of the new year 2026, we - Finland's longest-standing bank still in operation - have entered our 200th anniversary year. We have done so with pride in our heritage and a clear focus on the future. With our strengths as our foundation, we continue to develop and create value. I extend my sincere thanks to our customers, employees, and investors - we look forward to joining you in the next century of Aktia's journey.
Key Figures
| (EUR million) | Q4/2025 | Q4/2024 | ?% | 1-12/ 2025 | 1-12/ 2024 | ?% | Q3/2025 | ?% | Q2/2025 | Q1/2025 |
| Net interest income | 34.9 | 38.1 | -8% | 138.8 | 152.0 | -9% | 34.0 | 3% | 34.7 | 35.2 |
| Net commission income | 32.3 | 32.5 | -1% | 124.6 | 124.3 | 0% | 31.2 | 3% | 30.3 | 30.8 |
| Net income from life insurance | 7.8 | 6.3 | 24% | 30.6 | 30.2 | 1% | 8.2 | -4% | 8.0 | 6.5 |
| Total operating income | 75.6 | 78.7 | -4% | 295.8 | 308.8 | -4% | 73.5 | 3% | 73.3 | 73.5 |
| Operating expenses | -49.9 | -49.3 | 1% | -185.2 | -178.6 | 4% | -44.4 | 12% | -46.9 | -44.0 |
| Impairment of tangible and intangible assets | -70.1 | -25.0 | 180% | -70.1 | -25.0 | 180% | - | - | - | - |
| Impairment of credits and other commitments | -5.9 | -4.3 | 36% | -15.8 | -10.6 | 48% | -3.8 | 56% | -3.2 | -2.9 |
| Operating profit | -50.3 | 0.1 | - | 24.9 | 94.6 | -74% | 25.3 | - | 23.3 | 26.6 |
| Comparable operating income1 | 75.6 | 78.7 | -4% | 295.6 | 308.8 | -4% | 73.5 | 3% | 73.1 | 73.5 |
| Comparable operating expenses1 | -46.0 | -46.1 | 0% | -173.9 | -173.8 | 0% | -42.3 | 9% | -43.7 | -41.9 |
| Comparable operating profit1 | 23.7 | 28.3 | -16% | 106.0 | 124.5 | -15% | 27.4 | -13% | 26.2 | 28.7 |
| Cost-to-income ratio | 0.66 | 0.63 | 6% | 0.63 | 0.58 | 8% | 0.60 | 9% | 0.64 | 0.60 |
| Comparable cost-to-income ratio1 | 0.61 | 0.59 | 4% | 0.59 | 0.56 | 5% | 0.58 | 6% | 0.60 | 0.57 |
| Earnings per share (EPS), EUR | -0.68 | 0.00 | - | 0.14 | 1.04 | -87% | 0.27 | - | 0.25 | 0.30 |
| Comparable earnings per share (EPS), EUR, euro1 | 0.25 | 0.31 | -17% | 1.16 | 1.37 | -16% | 0.30 | -14% | 0.29 | 0.32 |
| Return on equity (ROE), % | -29.9 | -0.1 | -29.8* | 1.5 | 11.4 | -9.9* | 11.8 | -41.7* | 10.8 | 12.5 |
| Comparable return on equity (ROE), %1 | 11.2 | 13.1 | -2.0* | 12.8 | 15.0 | -2.3* | 12.8 | -1.6* | 12.1 | 13.5 |
| Common Equity Tier 1 capital ratio (CET1), %2 | 12.6 | 12.0 | 0.7* | 12.6 | 12.0 | 0.7* | 13.0 | -0.4* | 12.8 | 13.0 |
| Dividend per share (proposal by the Bord of Directors), EUR | 0.80 | 0.82 |
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 5 February 2026 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/q4-2025. 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, celebrating its 200th anniversary this year, is a growing Finnish financial group. Since 1826, our mission has been to safeguard and increase the wealth and well-being of our customers and society as a whole. Our operations are based on strong values, long-term commitment, and trust. We provide expert, personal support to our customers across Finland, helping them develop their finances and build prosperity across generations. Our award-winning asset management business also sells investment funds internationally. Our strong business model is based on complementary wealth management, life insurance, and banking services. We employ approximately 850 people around Finland. Aktia's gross assets under management (AuM) on 31 December 2025 amounted to EUR 16.6 billion and the balance sheet total was EUR 12.0 billion. Aktia's share is listed on Nasdaq Helsinki Ltd (AKTIA). Read more about Aktia: aktia.com
