Bank of Åland Plc
Half-Year Financial Report
July 17, 2026, 13:00 EEST
Half-Year Financial Report for the period January - June 2026
Solid development in the core business
"Our underlying business continues to develop in the right direction. Our three main segments, Private Banking, Premium Banking and IT, showed improved results for the half-year period with EUR 1.1 million compared with the corresponding period last year.
"During the quarter, we had net inflows of actively managed assets of EUR 141 million and actively managed assets reached a new record level of EUR 12.4 billion. Our IT company, Crosskey Banking Solutions, went into full operation in June with a comprehensive multi-bank solution for its new customers, the POP Bank Group in Finland.
"There was an unusually large negative impact on earnings under other income during the quarter, amounting to EUR -2.5 million (1.8), which was largely attributable to a weak quarter in terms of earnings at an associated company.
"For the first time, and in accordance with the authorisation granted at the Annual General Meeting in March, Bank of Åland has decided to pay a semi-annual dividend of EUR 0.75 per share on 28 July.
"Our expectations for the second half of the year continue to be high, despite the turbulent global situation, and we continue to conduct numerous business discussions with new and existing customers in all business areas."
Peter Wiklöf, Managing Director and Chief Executive
January - June 2026 compared to January - June 2025
- Net operating profit decreased by 14 per cent and amounted to EUR 29.8 M (34.7).
- Core income in the form of net interest income, net commission income and IT income increased by 2 per cent to EUR 109.6 M (107.9).
- Other income decreased by 95 per cent to EUR 0.2 M (4.0).
- Total expenses increased by 5 per cent to EUR 80.2 M (76.5).
- Net impairment losses on financial assets (including recoveries) totalled net recoveries of EUR 0.3 M (net losses of 0.7), equivalent to a loan loss level of -0.01 per cent (0.04).
- Return on equity after taxes (ROE) decreased to 15.2 per cent (19.2).
- Earnings per share decreased by 17 per cent to EUR 1.54 (1.86).
- The common equity Tier 1 capital ratio increased to 12.8 per cent (12.7 on December 31, 2025).
- The semi-annual dividend totaled EUR 0.75 per share.
- Unchanged future outlook: The Bank of Åland expects its return on equity after taxes (ROE) to continue to exceed its long-term financial target of 15 per cent during 2026.
The second quarter of 2026 compared to the second quarter of 2025
- Net operating profit decreased by 22 per cent and amounted to EUR 12.7 M (16.3).
- Core income in the form of net interest income, net commission income and IT income increased by 2 per cent to EUR 55.4 M (54.1).
- Other income decreased to EUR -2.5 M (1.8).
- Total expenses increased by 5 per cent to EUR 40.8 M (38.8).
- Net impairment losses on financial assets (including recoveries) totalled net recoveries EUR 0.6 M (net losses of 0.8), equivalent to a loan loss level of -0.06 per cent (0.08).
- Return on equity after taxes (ROE) decreased to 12.8 per cent (19.1).
- Earnings per share decreased by 31 per cent to EUR 0.63 (0.90).
Financial summary
| Group | Q2 2026 | Q1 2026 | - | Q2 2025 | - | Jan-Jun 2026 | Jan-Jun 2025 | - |
| EUR M | ||||||||
| Income | ||||||||
| Net interest income | 23.9 | 23.3 | 3 | 24.1 | -1 | 47.2 | 47.9 | -1 |
| Net commission income | 22.6 | 22.5 | 0 | 21.2 | 7 | 45.1 | 42.6 | 6 |
| IT income | 8.9 | 8.3 | 7 | 8.9 | 1 | 17.3 | 17.4 | -1 |
| Other income | -2.5 | 2.7 | 1.8 | 0.2 | 4.0 | -95 | ||
| Total income | 52.9 | 56.9 | -7 | 55.9 | -5 | 109.8 | 111.9 | -2 |
| Staff costs | -25.9 | -24.7 | 5 | -24.8 | 5 | -50.6 | -48.1 | 5 |
| Other expenses | -11.7 | -11.4 | 3 | -11.1 | 5 | -23.0 | -22.4 | 3 |
| Depreciation/amortisation | -3.2 | -3.3 | -1 | -3.0 | 8 | -6.5 | -6.0 | 9 |
| Total expenses | -40.8 | -39.4 | 4 | -38.8 | 5 | -80.2 | -76.5 | 5 |
| Profit before impairment losses | 12.1 | 17.5 | -31 | 17.1 | -29 | 29.6 | 35.4 | -16 |
| Impairment losses on financial assets, net | 0.6 | -0.3 | -0.8 | 0.3 | -0.7 | |||
| Net operating profit | 12.7 | 17.2 | -26 | 16.3 | -22 | 29.8 | 34.7 | -14 |
| Income taxes | -3.0 | -3.1 | -2 | -2.4 | 26 | -6.1 | -6.1 | 0 |
| Profit for the period | 9.6 | 14.1 | -31 | 13.9 | -31 | 23.7 | 28.6 | -17 |
| Volume | ||||||||
| Lending to the public | 3,788 | 3,791 | 0 | 3,594 | 5 | |||
| Deposits from the public | 3,612 | 3,653 | -1 | 3,578 | 1 | |||
| Actively managed assets | 12,352 | 11,799 | 5 | 11,057 | 12 | |||
| Managed mortage loans | 3,701 | 3,621 | 2 | 3,335 | 11 | |||
| Equity capital | 334 | 327 | 2 | 326 | 2 | |||
| Balance sheet total | 5,130 | 5,167 | -1 | 4,903 | 5 | |||
| Risk exposure amount | 1,892 | 1,884 | 0 | 1,799 | 5 |
The Bank of Åland (Ålandsbanken) follows the disclosure procedure stipulated in "Disclosure obligation of the issuer (6/2016)", published by the Finnish Financial Supervisory Authority and hereby publishes its Half-Year Financial Report for the period January - June 2026, which is enclosed with this stock exchange release.
The Bank's Half-Year Financial Report for the period January - June 2026 is attached to this release in PDF format and is also available on the company's web site at:
https://www.alandsbanken.com/financial-information/financial-reports
Mariehamn, July 17, 2026
THE BOARD OF DIRECTORS
For more information please contact:
Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland Plc, tel. + 358 (0)40 512 7505
