Reported Earnings • May 05
First quarter 2026 earnings: EPS and revenues miss analyst expectations First quarter 2026 results: EPS: €0.19 (down from €0.30 in 1Q 2025). Revenue: €63.0m (down 11% from 1Q 2025). Net income: €15.2m (down 30% from 1Q 2025). Profit margin: 24% (down from 31% in 1Q 2025). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 30%. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 26
Upcoming dividend of €0.80 per share Eligible shareholders must have bought the stock before 02 April 2026. Payment date: 14 April 2026. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 6.3%. Within top quartile of Finnish dividend payers (5.5%). Higher than average of industry peers (5.0%). Reported Earnings • Mar 15
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €0.14 (down from €1.04 in FY 2024). Revenue: €280.0m (down 6.1% from FY 2024). Net income: €10.3m (down 87% from FY 2024). Profit margin: 3.7% (down from 26% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 87%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Declared Dividend • Mar 02
Dividend reduced to €0.80 Dividend of €0.80 is 2.4% lower than last year. Ex-date: 2nd April 2026 Payment date: 14th April 2026 Dividend yield will be 6.3%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 5x earnings). However, the dividend is expected to be covered in 3 years' time (78% forecast payout ratio). The dividend has increased by an average of 4.0% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 532% to bring the payout ratio under control. EPS is expected to grow by 91% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Feb 06
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €0.14 (down from €1.04 in FY 2024). Revenue: €280.0m (down 6.1% from FY 2024). Net income: €10.3m (down 86% from FY 2024). Profit margin: 3.7% (down from 26% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 87%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Feb 06
Aktia Pankki Oyj Proposes Dividend for 2025 Aktia Pankki Oyj Board of Directors proposed, that a dividend of EUR 0.80 per share to be paid for 2025 in accordance with the capital and dividend policy. Recent Insider Transactions • Dec 25
Vice Chairman recently bought €143k worth of stock On the 19th of December, Joakim Frimodig bought around 12k shares on-market at roughly €11.89 per share. This transaction amounted to 58% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Joakim's only on-market trade for the last 12 months. Price Target Changed • Dec 17
Price target increased by 9.1% to €12.00 Up from €11.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of €11.70. Stock is up 29% over the past year. The company is forecast to post earnings per share of €1.06 for next year compared to €1.04 last year. Buy Or Sell Opportunity • Dec 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 16% to €11.62. The fair value is estimated to be €9.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 3.5% over the last 3 years. Earnings per share has declined by 12%. Announcement • Nov 12
Aktia Bank plc Announces Changes in Composition of Nomination Committee The composition of Aktia Bank Plc's Shareholders' Nomination Board has changed. In accordance with the Committee's rules of procedure, Johan Hammarén, appointed by Oy Hammarén & Co Ab, has resigned from the Committee, as Oy Hammarén & Co Ab has transferred more than half of the shares that entitled it to appoint a member as of 1 June and, as a result of the transfer, is no longer among the company's five largest shareholders. In accordance with its rules, the Nomination Committee has decided to offer the right to appoint a new member to two of Aktia's largest shareholders who had not yet appointed a member. The following have been appointed as new members of the Nomination Committee: Hanna Kaskela, appointed by Varma Mutual Pension Insurance Company; Marcus Rantala, appointed by Stiftelsen Tre Smeder foundation. As other members of the nomination committee continue: Gisela Knuts, appointed by the companies controlled by Erkki Etola and the Pension Insurance Company Veritas; Lasse Svens, appointed by the Åbo Akademi University Foundation. Gisela Knuts serves as Chair of the Nomination Committee. Further, the Chair of the Board of Aktia Bank Plc Juha Hammarén participates in the work of the Nomination Committee as an expert. Prior to the Annual General Meeting 2026 the Nomination Board shall present its proposals for members of the Board of Directors and for remuneration before the end of January 2026. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: €0.28 (vs €0.34 in 3Q 2024) Third quarter 2025 results: EPS: €0.28 (down from €0.34 in 3Q 2024). Revenue: €69.4m (down 7.2% from 3Q 2024). Net income: €20.0m (down 19% from 3Q 2024). Profit margin: 29% (down from 33% in 3Q 2024). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Announcement • Oct 27
Aktia Bank Plc Announces Management Appointments Aktia Bank Plc announced appointments to Aktia Bank Plc's Executive Committee. The following changes have been made in Aktia Bank Plc's Executive Committee as of 27 October 2025 to ensure a consistent and stable implementation of the strategy: Pasi Vuorinenhas been appointed Executive Vice President, Asset Management and member of the Executive Committee. Vuorinen has served temporarily in this role since 5 August 2025. Eva-Maria Broman-Rimpi, Chief Risk Officer (CRO), and Ville Niiranen, CEO of Aktia Life Insurance Ltd, have been appointed as new members of the Group's Executive Committee. The appointees come from within Aktia and currently lead these areas of responsibility. Pasi Vuorinen, M.Soc.Sc., CEFA, has been appointed Executive Vice President, Asset Management of Aktia Bank Ltd. and will continue as member of Aktia's Executive Committee. Vuorinen has worked at Aktia since 2024 as Head of Customers in the asset management business area, and has served as interim Executive Vice President, Asset Management since 5 August 2025. Vuorinen has over 20 years of experience in asset management and has previously held various positions at OP Financial Group and Danske Bank. Eva-Maria Broman-Rimpi, LL.M. (Trained on the bench), M.Sc. (Econ.), has been appointed Chief Risk Officer (CRO) of Aktia Bank Plc and member of Aktia's Executive Committee. She has served as Chief Compliance Officer at Aktia since 2021 and interim Chief Risk Officer since spring 2025, in charge of Aktia's comprehensive risk management. She has an extensive and comprehensive background in tasks related to compliance, risk management, and governance in the financial sector. Before joining Aktia in 2021, she held managerial positions at SEB and Handelsbanken. Ville Niiranen, LL.Lic., has been appointed CEO of Aktia Life Insurance Ltd. and member of Aktia's Executive Committee. Niiranen has worked at Aktia since 2021 as a member of Aktia Life Insurance Ltd.'s Executive Committee, first as Director and since 2024 as Deputy CEO and interim CEO. He has extensive experience in the life insurance business and the insurance sector. The appointment of Ville Niiranen is conditional on the Financial Supervisory Authority not having any objections to the appointment. Announcement • Oct 22
Aktia Bank Plc Appoints Anssi Huhta as Chief Executive Officer, Effective October 21, 2025 Aktia Bank Plc's Board of Directors has appointed Anssi Huhta as the new CEO of the company. Huhta has served as Aktia's interim CEO since 12 June 2025 and he will take up his post October 21, 2025. Anssi Huhta has worked at Aktia and been a member of the company's Executive Committee since 2020, first as EVP, Corporate Customers and since 2021 as EVP, Banking Business. In addition, he served as Deputy CEO of Aktia between 2023 and 2025. In the past, Huhta has served as Director in charge of private and corporate customers at OP Financial Group and as CEO of OP Card Company Plc. Before joining OP Financial Group, Huhta served as Branch Manager at Aktia. The Board of Directors considers that Anssi's in-depth knowledge of Aktia and his long experience in the banking sector will bring continuity, vision and leadership to the company to implement the strategy updated at the beginning of the year. The key priorities in the strategy are active wealth management, growth within Aktia's core segments and an excellent customer experience. Anssi Huhta's current responsibilities as Director in charge of the banking business will be reorganised, and this will be communicated later. Announcement • Oct 03
Aktia Pankki Oyj Appoints Juha Hammarén as New Member of the Board of Directors, Chair and Member of Audit, Remuneration and Corporate Governance Committee Aktia Pankki Oyj at Extraordinary General Meeting held on 2 October 2025 approved Juha Hammarén was elected as new member of the Board of Directors. The Board of Directors, which convened after the General Meeting, elected Juha Hammarén as chair. Joakim Frimodig continues as the vice chair of the Board. Juha Hammarén was elected as a member of the Board's Audit Committee as well as the Remuneration and Corporate Governance Committee, replacing Matts Rosenberg. No other changes were made to the composition of the committees. The Board's committees are thus composed as follows: Audit Committee: Sari Somerkallio (Chair), Juha Hammarén and Hanne Katrama. Risk Committee: Maria Jerhamre Engström (Chair), Joakim Frimodig and Harri Lauslahti. Remuneration and Corporate Governance Committee: Joakim Frimodig (Chair), Juha Hammarén and Harri Lauslahti. Announcement • Sep 16
Aktia Pankki Oyj Announces Incoming CEO Carl Haglund Shall Step Down from His Position and Leave the Company The Board of Directors of Aktia Bank Plc has concluded that the incoming CEO of the company Carl Haglund shall step down from his position and leave the company today. In the Board of Directors' assessment, Haglund no longer fulfills the prerequisites required to act as the company's CEO. Aktia's interim CEO Anssi Huhta continues in his interim role. Announcement • Sep 11
Aktia Pankki Plc Announces Board Resignations Aktia Pankki Plc in it Extraordinary General Meeting to be held on 2 October 2025 announced that Carl Haglund, who was elected as a member of the Board of Directors at the Annual General Meeting on 3 April 2025, resigned from the Board of Directors on 12 June 2025. Additionally, the current Chair of the Board Matts Rosenberg has informed the Nomination Committee of his intention to resign from the Board of Directors due to his new role as the CEO of Solidium, but he will continue in his role until the conclusion of the Extraordinary General Meeting. The other members of the Board of Directors - Joakim Frimodig, Maria Jerhamre Engström, Hanne Katrama, Harri Lauslahti, and Sari Somerkallio - will continue in their roles in accordance with the resolution of the Annual General Meeting held on 3 April 2025. Announcement • Sep 04
Aktia Bank plc Announces Change in the Composition of Nomination Committee Aktia Bank Plc Shareholders' Nomination Committee convened on 13 August 2025. In accordance with the Committee's rules of procedure, Georg Ehrnrooth, appointed by RG Partners Oy, has resigned from the Committee, as RG Partners Oy has transferred more than half of the shares that entitled it to nominate a member as of 1 June and, as a result of the transfer, is no longer among the company's five largest shareholders. The Nomination Committee will continue with three members, and its composition is: Gisela Knuts, appointed by the companies controlled by Erkki Etola and the Pension Insurance Company VeritasLasse Svens, appointed by the Åbo Akademi University FoundationJohan Hammarén, appointed by Oy Hammarén & Co Ab. Gisela Knuts serves as Chair of the Nomination Committee. Reported Earnings • Aug 05
Second quarter 2025 earnings released: EPS: €0.25 (vs €0.33 in 2Q 2024) Second quarter 2025 results: EPS: €0.25 (down from €0.33 in 2Q 2024). Revenue: €70.0m (down 6.7% from 2Q 2024). Net income: €18.5m (down 23% from 2Q 2024). Profit margin: 26% (down from 32% in 2Q 2024). Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Jun 19
Aktia Pankki Oyj Announces Change in the Composition of the Remuneration and Corporate Governance Committee Aktia Pankki Oyj has decided on a change concerning the composition of the Remuneration and Corporate Governance Committee of the Board. On 12 June 2025, Aktia announced that Carl Haglund has left Aktia's Board of Directors following his appointment as the future CEO of Aktia. Consequently, Aktia's Board of Directors decided to change the composition of the Remuneration and Corporate Governance Committee, which has been chaired by Haglund. Harri Lauslahti was appointed as a new member of the Committee. Matts Rosenberg and Joakim Frimodig, who was appointed chairman of the Committee, will continue in the Committee. Reported Earnings • May 07
First quarter 2025 earnings released: EPS: €0.30 (vs €0.38 in 1Q 2024) First quarter 2025 results: EPS: €0.30 (down from €0.38 in 1Q 2024). Revenue: €73.5m (down 1.3% from 1Q 2024). Net income: €21.8m (down 20% from 1Q 2024). Profit margin: 30% (down from 37% in 1Q 2024). Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • May 07
Aktia Bank Maintains Earnings Guidance for 2025 Aktia Bank maintains earnings guidance for 2025. The comparable operating profit for 2025 is expected to be lower than the comparable operating profit for 2024, which amounted to EUR 124.5 million. Board Change • Apr 20
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Carl Haglund was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €9.28, the stock trades at a trailing P/E ratio of 9x. Average forward P/E is 9x in the Banks industry in Europe. Total returns to shareholders of 11% over the past three years. Upcoming Dividend • Mar 28
Upcoming dividend of €0.82 per share Eligible shareholders must have bought the stock before 04 April 2025. Payment date: 14 April 2025. Payout ratio is on the higher end at 79%, and the cash payout ratio is above 100%. Trailing yield: 7.4%. Within top quartile of Finnish dividend payers (5.9%). Higher than average of industry peers (5.6%). Declared Dividend • Feb 28
Dividend of €0.82 announced Shareholders will receive a dividend of €0.82. Ex-date: 4th April 2025 Payment date: 14th April 2025 Dividend yield will be 7.9%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (79% payout ratio) and is expected to be covered in 3 years' time (73% forecast payout ratio). The dividend has increased by an average of 6.9% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 3.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 28
Aktia Bank plc Announces Resignation of Sari Pohjonen from the Board of Directors Aktia Bank Plc announced that Sari Pohjonen, a member of the Board of Directors and the Chair of the Audit Committee of the comoany, has submitted her resignation to the Board of Directors of Aktia on 27 February 2025. Pohjonen has announced her resignation from the Board as of 27 February 2025, due to her other commitments. Announcement • Feb 27
Aktia Bank Plc Announces Updated Dividend Policy Aktia Bank Plc announced Updated dividend policy. Aktia intends to pay a dividend of approximately 60% of the profit for the reporting period to its shareholders. In addition, excess capital may be distributed to shareholders using e.g. extra dividends or share buy-backs.(Previous dividend policy: Aktia intends to pay out a dividend of approximately 60% of the profit for the reporting period to its shareholders). New Risk • Feb 16
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 21% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Reported Earnings • Feb 16
Full year 2024 earnings released: EPS: €1.04 (vs €1.16 in FY 2023) Full year 2024 results: EPS: €1.04 (down from €1.16 in FY 2023). Revenue: €298.2m (up 5.0% from FY 2023). Net income: €75.9m (down 9.9% from FY 2023). Profit margin: 26% (down from 30% in FY 2023). Cost-to-income ratio: 56.0% (down from 60.0% in FY 2023). Non-performing loans: 0.86% (up from 0.64% in FY 2023). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Nov 12
Third quarter 2024 earnings: EPS and revenues exceed analyst expectations Third quarter 2024 results: EPS: €0.34 (up from €0.33 in 3Q 2023). Revenue: €74.8m (up 2.7% from 3Q 2023). Net income: €24.8m (up 3.3% from 3Q 2023). Profit margin: 33% (in line with 3Q 2023). Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 9.7%. Revenue is forecast to stay flat during the next 3 years compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. New Risk • Nov 08
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 2.9% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Aug 30
Aktia Pankki Oyj Appoints Karri Varis as Interim Chief Financial Officer, Effective from 1 September 2024 Aktia Pankki Oyj announced change in Aktia’s Executive Committee: Karri Varis appointed interim Chief Financial Officer. Karri Varis, D.Sc. (Tech.), has been appointed Aktia’s interim Chief Financial Officer (CFO) as of 1 September 2024. In this capacity Varis reports to Aktia’s CEO and will be a member of the Group’s Executive Committee. Varis has been employed by Aktia since 2019 and is currently Director of Asset and Liability Management at Aktia. As previously announced, Aktia's current CFO Outi Henrikssonwill step down from her position at Aktia at the end of August. The recruitment process for a CFO continues. Reported Earnings • Aug 04
Second quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat Second quarter 2024 results: EPS: €0.33 (up from €0.29 in 2Q 2023). Revenue: €74.9m (up 8.6% from 2Q 2023). Net income: €24.1m (up 15% from 2Q 2023). Profit margin: 32% (up from 30% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.6% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Aug 02
Aktia Bank plc Updates Earnings Guidance for 2024 Aktia Bank plc updated earnings guidance for 2024. For the period, the company's comparable operating profit is expected to be higher than the EUR 104.8 million reported for 2023. Previous outlook for 2024: Aktia’s comparable operating profit for 2024 is expected to be somewhat higher or higher than the EUR 108.4 million reported for 2023. Announcement • May 03
Aktia Bank plc Announces Change in Executive Committee Aktia Bank Plc announced Change in it's Executive Committee: Oskari Kurki appointed EVP, Chief Information Officer at Aktia. Master of Science in Technology, MBA, Oskari Kurki has been appointed EVP, Chief Information Officer at Aktia and member of the Group’s Executive Committee. Kurki will assume his duties at Aktia in August 2024. As EVP, Chief Information Officer, Kurki will be responsible for all IT operations and the implementation of the IT strategy at Aktia. He will report to Aktia’s CEO. Oskari Kurki has a long and versatile experience in management roles in technology and information management. Kurki comes to Aktia from OP Financial Group, where his last role was Senior Vice President, Retail Banking Technology. The appointment is conditional on the Financial Supervisory Authority not having any objections to the appointment. Board Change • May 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Matts Rosenberg was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 30
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: €0.38 (up from €0.25 in 1Q 2023). Revenue: €74.3m (up 5.5% from 1Q 2023). Net income: €27.2m (up 50% from 1Q 2023). Profit margin: 37% (up from 26% in 1Q 2023). The increase in margin was primarily driven by lower expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates by 19%. Revenue is forecast to grow 1.0% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 3% per year and the company’s share price has also fallen by 3% per year. Announcement • Apr 30
Aktia Pankki Oyj Provides Earnings Guidance for 2024 Aktia Pankki Oyj provided earnings guidance for 2024. for the year, Company expects comparable operating profit for 2024 is expected to be somewhat higher or higher than the EUR 108.4 Million reported for 2023. Upcoming Dividend • Mar 28
Upcoming dividend of €0.70 per share Eligible shareholders must have bought the stock before 04 April 2024. Payment date: 12 April 2024. Payout ratio is a comfortable 60% and this is well supported by cash flows. Trailing yield: 7.0%. Within top quartile of Finnish dividend payers (5.9%). In line with average of industry peers (6.5%). Price Target Changed • Mar 18
Price target decreased by 10% to €10.50 Down from €11.73, the current price target is provided by 1 analyst. New target price is 13% above last closing price of €9.30. Stock is up 0.4% over the past year. The company is forecast to post earnings per share of €1.28 for next year compared to €1.16 last year. Reported Earnings • Mar 15
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: €1.16 (down from €1.37 in FY 2022). Revenue: €284.1m (down 3.0% from FY 2022). Net income: €84.2m (down 14% from FY 2022). Profit margin: 30% (down from 34% in FY 2022). The decrease in margin was primarily driven by lower revenue. Cost-to-income ratio: 60.0% (up from 56.0% in FY 2022). Non-performing loans: 0.64% (up from 0.62% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.5%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 1% per year. Buy Or Sell Opportunity • Mar 14
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €9.35. The fair value is estimated to be €11.70, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.7% over the last 3 years. Earnings per share has declined by 6.7%. For the next 3 years, revenue is forecast to grow by 1.5% per annum. Earnings are also forecast to grow by 0.5% per annum over the same time period. Announcement • Mar 14
Kaapro Kanto Leaves His Duties as Chief Information Officer at Aktia Aktia announced that Kaapro Kanto, Chief Information Officer and member of the Executive Committee at Aktia, leaves his duties at his own request. Kanto has been responsible for all of Aktia's IT functions as well as the implementation of the IT strategy and has previously worked as Aktia's Chief Technology Officer. Aktia's IT function will temporarily report to Anssi Huhta, Deputy CEO at Aktia. The recruitment process of a new Chief Information Officer has started. Announcement • Feb 29
Aktia Bank Plc Updates its Dividend Policy Aktia Bank Plc updated its dividend policy. Aktia’s goal is to provide a competitive dividend yield to its shareholders. The amount of dividends to be paid depends on the group's financial performance and its growth and investment needs. In addition, Aktia wants to ensure sufficient capital adequacy also during changing market conditions. Aktia intends to pay out a dividend of approximately 60% of the profit for the reporting period to its shareholders. Aktia’s goal is to achieve profitable growth in all business areas. The capital structure must support both this growth and the ensuring of a good level of capital adequacy. Previous dividend policy: Aktia's goal is to pay out a dividend of 60% to 80% of the profit for the reporting period. Announcement • Feb 21
Aktia Appoints Oscar Taimitarha as Director of Investor Relations, Effective March 1, 2024 Aktia announced that Oscar Taimitarha has been appointed as its new director of Investor Relations, effective March 1, 2024. In his new role, Taimitarha will report to Outi Henriksson, CFO and member of the company's executive committee. Taimitarha, who has been working at Aktia for the last 20 years, has held several leadership positions, including as bank manager and regional director. Declared Dividend • Feb 12
Dividend increased to €0.70 Dividend of €0.70 is 63% higher than last year. Ex-date: 4th April 2024 Payment date: 12th April 2024 Dividend yield will be 7.8%, which is higher than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (60% payout ratio) and is expected to be covered in 3 years' time (85% forecast payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to remain steady over the next 3 years, which should provide adequate earnings cover for the dividend. Reported Earnings • Feb 09
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: €1.16 (up from €0.72 in FY 2022). Revenue: €283.8m (up 53% from FY 2022). Net income: €84.2m (up 63% from FY 2022). Profit margin: 30% (up from 28% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.5%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 7% per year whereas the company’s share price has fallen by 3% per year. Announcement • Feb 07
Aktia Pankki Oyj Announces Appointment of Aleksi Lehtonen as CEO, Effective from June 1, 2024 Aktia Pankki Oyj announced the appointment of Aleksi Lehtonen as CEO, Effective from June 1, 2024. Reported Earnings • Nov 13
Third quarter 2023 earnings released: EPS: €0.34 (vs €0.34 in 3Q 2022) Third quarter 2023 results: EPS: €0.34 (down from €0.34 in 3Q 2022). Revenue: €72.9m (up 2.1% from 3Q 2022). Net income: €24.7m (flat on 3Q 2022). Profit margin: 34% (in line with 3Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Nov 10
Aktia Pankki Oyj Appoints Kaapro Kanto as EVP, Chief Information Officer and Member of the Group’s Executive Committee Aktia Pankki Oyj announced Kaapro Kanto, Bachelor of Computer Science BCS, has been appointed as the new EVP, Chief Information Officer (CIO) of Aktia and member of the Group’s Executive Committee. He reports to Aktia’s CEO Juha Hammarén. Kanto has extensive experience in demanding IT tasks. He has worked as Chief Technology Officer (CTO) at Aktia since January 2023 and as Acting Chief Information Officer (CIO) since June 2023. Prior to joining Aktia, he was a Chief Information Officer and member of the extended management team at Alko for four years. As EVP and CIO, Kanto is responsible for the whole IT unit of Aktia and the implementation of the IT strategy. Announcement • Oct 14
Thornico Holding A/S entered into an agreement to acquire additional 10% stake in Brødrene Hartmann A/S (CPSE:HART) from VN Capital Management, LLC, Aktia Pankki Oyj (HLSE:AKTIA), and Abaco Capital Investments for approximately DKK 250 million. Thornico Holding A/S entered into an agreement to acquire additional 10% stake in Brødrene Hartmann A/S (CPSE:HART) from VN Capital Management, LLC, Aktia Pankki Oyj (HLSE:AKTIA), and Abaco Capital Investments for approximately DKK 250 million on October 12, 2023. The Offer per share is DKK 360. Upon completion of the purchase, Thornico will hold approx. 80% of all shares and voting rights in Hartmann. The extraordinary general meeting will still be held on Monday 16 October, 2023. Subject to approval at the extraordinary general meeting and Nasdaq Copenhagen's approval of delisting the shares, Thornico has stated its intention to offer to purchase all shares from the other shareholders at a price of DKK 360 per share with a nominal value of DKK 20. Announcement • Sep 26
Aktia Pankki Appoints Kati Eriksson as EVP, Asset Management Aktia Pankki Oyj announced that Kati Eriksson appointed EVP,Asset Management at Aktia. M.Sc. Econ. Kati Eriksson has been appointed Aktia’s new EVP, Asset Management, and member of the Executive Committee. Kati Eriksson has a long and versatile work history holding various leadership positions in both asset management and banking. Most recently, she was Head of Institutional Banking at Danske Bank Finland branch. Kati Eriksson will start in her new position by the end of January 2024. The appointment is conditional on the Financial Supervisory Authority not having any objections to the appointment. Announcement • Aug 26
Aktia Announces Executive Changes, Effective on September 1, 2023 Anssi Huhta has been appointed Deputy CEO of Aktia starting 1 September 2023. Huhta is Aktia's Executive Vice President, Banking Business and member of the Executive Committee, and he has worked at Aktia since 2020. The former Deputy CEO, Juha Hammarén, will continue as CEO until Aleksi Lehtonen starts his duties as new CEO of Aktia at the beginning of December 2024 at the latest, as previously announced. The appointment is conditional on the Financial Supervisory Authority not having any objections to the appointment. Announcement • Aug 18
Aktia Pankki Oyj Appoints Shareholders’ Nomination Board Aktia Pankki Oyj announced that with the Articles of the comoany, a Nomination Board shall be appointed annually with the duty to prepare a proposal for members of the Board of Directors as well as for the remuneration of them to the Annual General Meeting. The Nomination Board comprises appointees of the five largest shareholders according to number of shares held. The composition of the Nomination Board as from 17 August 2023 is: Matts Rosenberg, appointed by RG Partners Oy; Gisela Knuts, appointed by the Pension Insurance Company Veritas and the companies controlled by Erkki Etola; Stefan Wallin, appointed by the Åbo Akademi University Foundation; Johan Hammarén, appointed by Oy Hammarén & Co Ab. Gisela Knuts was elected chair of the Nomination Board. Further, the chair of the Board of Aktia Bank Plc, Lasse Svens participates in the work of the Nomination Board as an expert. Prior to the Annual General Meeting 2024 the Nomination Board shall present its proposals for members of the Board of Directors and for remuneration before the end of January 2024. Announcement • Aug 10
Aktia Pankki Oyj Provides Earnings Outlook for the Year 2023 Aktia Pankki Oyj provided earnings outlook for the year 2023. For the period, the company expects comparable operating profit is expected to be clearly higher than the EUR 65.2 million reported for 2022. Net interest income is expected to be significantly higher than in 2022. Reported Earnings • Aug 10
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €69.0m (up 2.7% from 2Q 2022). Net income: €21.0m (up 6.1% from 2Q 2022). Profit margin: 30% (in line with 2Q 2022). Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Europe. Announcement • Jun 05
Aktia Pankki Oyj Appoints Aleksi Lehtonen as CEO Aktia Pankki Oyj has appointed M.Soc.Sc. Aleksi Lehtonenas the CEO of Aktia Bank Plc. He will start in his position in the beginning of December 2024 at the latest. Aleksi Lehtonen will move to Aktia from Nordea, where he has been Head of Business Banking Finland since 2018 together with the more administrative role as Country Senior Executive since 2022. During his career in Nordea for more than 24 years, Lehtonen has also held several managerial positions in Nordea Markets where he has been in charge of risk management and investment solutions, among others. Announcement • May 23
European Smaller Companies Trust plc Appoints Ann Grevelius as A Non-Executive Director of Aktia Bank plc The European Smaller Companies Trust PLC announced that Ann Grevelius has been appointed as a non-executive director of Aktia Bank plc with effect from 5 April 2023. Reported Earnings • May 14
First quarter 2023 earnings released: EPS: €0.25 (vs €0.15 in 1Q 2022) First quarter 2023 results: EPS: €0.25 (up from €0.15 in 1Q 2022). Revenue: €69.4m (up 17% from 1Q 2022). Net income: €18.1m (up 65% from 1Q 2022). Profit margin: 26% (up from 19% in 1Q 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 5% per year and the company’s share price has also increased by 5% per year. 
