From GlobeNewswire: 2024-04-30 01:00:00

Aktia Pankki Oyj reported a strong first quarter with a comparable operating profit of 33.9 million euros, a 44% increase from last year. Key factors contributing to the growth were stable interest income and effective cost management. The net investments for Private Banking clients remained positive, although overall net subscriptions were negative.

For the year 2024, Aktia expects a higher comparable operating profit compared to the 108.4 million euros reported in 2023. Despite market uncertainties and potential interest rate decreases, the interest income is projected to increase. Net fee income is expected to grow slightly, contingent on favorable market conditions.

Aktia CEO Juha Hammarén expressed satisfaction with the strong performance in Q1 2024, highlighting the significant improvement in the cost-to-income ratio. The bank’s strategy of focusing on three core business areas showed positive results, with a notable increase in the interest income. Investments in system enhancements and customer experience also contributed to the positive outcome.

The bank’s business segments, including banking and life insurance, delivered solid results in the first quarter. The steady growth in assets under management and positive net inflows in Private Banking demonstrate the effectiveness of Aktia’s strategies. The bank’s commitment to sustainability and climate initiatives is progressing as planned, aligning with the EU’s new sustainability reporting directive.

During the first quarter, Aktia maintained strict cost control while making targeted investments in IT upgrades and customer experience enhancements. The bank’s employee-centric approach aims to reward innovative ideas and improve overall employee experience. Looking ahead, Aktia is optimistic about executing its strategy and contributing to the well-being of customers and society.



Read more at GlobeNewswire:: Aktia Pankki Oyj:n osavuosikatsaus 1.1.–31.3.2024: