According to the bank, housing sales remained brisk at the beginning of the year, and demand for holiday homes in particular continued to grow.
Aktia The bank’s result in January – March clearly improved from the corresponding period last year.
Aktia’s operating profit increased to EUR 16.9 million in the first quarter of this year, compared to EUR 2.8 million a year earlier. Earnings per share improved to EUR 0.20 from EUR 0.03 a year ago.
President and CEO of Aktia Mikko Ayub describes the bank’s early year as strong in the interim report.
“The good development of net interest income continued from last year. The strong net interest income is due to both increased lending and active pricing in corporate lending, ”says Ayub.
Aktian Net interest income, which reflects the profitability of basic banking operations, rose by 8 per cent to EUR 21.3 million in January – March. According to the bank, housing sales remained brisk at the beginning of the year, and demand for holiday homes in particular continued to grow.
In contrast, commission income remained at EUR 25 million in the first quarter, almost the same as last year. At the end of March, Aktia’s asset management assets amounted to EUR 10.4 billion, which is the same as at the turn of the year.
Net life insurance improved to EUR 9.9 million due to positive changes in the value of the investment portfolio, compared to a deficit of EUR 5.2 million in the comparison period. In the comparison period, the result was burdened by the market decline caused by the corona pandemic. According to the bank, the technical result was stable at the beginning of the year.
In total, operating income increased by 45 percent to EUR 57.9 million. Operating expenses increased by nine percent to EUR 38.7 million.
Credit losses In January – March, the bank recorded EUR 2.2 million, compared with EUR 1.4 million in credit losses in the comparison period.
Aktia maintains its earnings outlook unchanged. The bank still expects its comparable operating profit this year to be clearly higher than last year.
In March, Aktia announced that it would acquire the asset management business of the investment services company Taaler. The transaction was completed at the end of April.
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