CEO's comments

CEO’s comments

During the first quarter of 2026, we once again experienced significant market volatility as a result of geopolitical developments and, for example, rising inflation expectations. For Aktia, the change in market values affected especially the investment portfolio of the life insurance business, which weighed down the net income from life insurance and thus the Group’s result for the first quarter. Despite the volatility and the continued challenging economic situation in Finland, we focus on disciplined execution of our strategy and implementation of our strategic choices.

The comparable operating profit for the quarter was EUR 18.7 million, which is 35% lower than last year. The difference is largely explained by the decline in the life insurance business’ investment operations, driven by changes in market values. The underlying business remained stable and developed according to our expectations. The net interest income decreased as expected due to the lower interest rates in the loan book and amounted to EUR 32.0 million, which was 9% lower than last year. However, the development of net interest income is expected to level off later this year. Net commission income was strengthened by the good development in the asset management business and amounted to EUR 32.3 million, which was 5% higher than last year.

Step by step towards growth

Within the Life & Wealth operations, we continued to focus on sales and distribution with increased strength and activity. We are developing a hybrid model to optimise the use of both our own sales force and partners. In the Aktia Yrittäjäturva subsidiary, efforts to substantially increase the number of insurance agents are progressing well, and within international sales in asset management, we announced several new significant partnerships in Europe. I am particularly pleased with the development in our existing international sales, which also contributed to the Group’s solid net subscriptions of EUR 257 million for the quarter. The good sales performance ensured that assets under management remained at the same level as at year-end, despite market volatility. I see the robust demand for our expertise as the strongest possible evidence that it is the right choice to increase activity internationally. We intend to further strengthen our presence in the DACH region.

Within Banking, activity and demand among small and medium‑sized companies remained strong particularly for our leasing, hire purchase and factoring services, as well as for our M&A financing. In addition to other special offers to celebrate Aktia’s 200th anniversary, we also launched a housing loan campaign which led to an increase in the number of meetings with potential Premium customers by approximately 250%. In the current economic climate, it is important to keep your eye on the ball and remember that proactivity and active dialogue with customers are the fundamental prerequisites for long-term success.

Sustainable success with people at the centre

Sustainability is an essential part of our efforts to secure the long‑term interests of our customers and Aktia, with people – both customers and employees – at the heart of Aktia’s new sustainability strategy. The focus at the beginning of the year has been on employee development, training and well-being.

The employee Net Promoter Score (eNPS) survey result in the first quarter was +34, which is an increase compared to the previous +28 (Q4/2025). Our ambitious target is +40, so I am pleased with this result, which shows that we are on the right track.

After the end of the period, on 22 April, we announced organisational changes and appointments to the Executive Committee. These changes support Aktia’s strategy, which focuses on growth and places our customers at the heart of everything we do. Going forward, all of Aktia’s business operations – and thus customer responsibility – will be represented in the Group’s Executive Committee. It is a pleasure to welcome Karin Rekola, newly appointed EVP, Private Customers, and Ilari Abdeen, incoming EVP, Corporate Customers, to Aktia’s Executive Committee.

200 years of future

For Aktia, this year marks a major anniversary. 200 years have passed since the first account was opened in Helsinki Savings Bank, where our earliest roots lie. It is also 35 years since a number of savings banks decided to merge and become Aktia. On behalf of Aktia and all Aktia employees, I would like to thank you for the congratulations and best wishes we have received.
A 200-year history reflects our ability to keep pace with the times, to develop and change while valuing history as an asset, and to carry out our mission through all circumstances. Now – as always – we are looking forward.

Helsinki 30 April 2026

Anssi Huhta

CEO