CEO's comments

CEO’s comments

Aktia's third quarter of 2025 remained stable in terms of results and in line with previous quarters. The comparable operating profit for the quarter amounted to EUR 27.4 million, which I am pleased with, especially in this operating environment. In the current market conditions, with continued uncertainty in the real estate sector and weak labour market figures, Aktia's business model shows its strength and resilience. 

The fact that the comparable operating profit was 13 per cent lower than in the third quarter last year is mainly due to the net interest income decreasing by EUR 2.1 million to EUR 34.0 million as a result of the lower interest rate environment. In addition, the uncertainty on the real estate market is reflected in higher credit losses from specific individual exposures.

On the other hand, the net commission income of EUR 31.2 million remained stable and at a slightly higher level than last year, while the net income from life insurance decreased by EUR 0.7 million to EUR 8.2 million. Cost control continued, and comparable operating expenses decreased by 1 per cent to EUR 42.3 million. The quarter’s comparable return on equity was 12.8 per cent.

Good development in the business areas

In the third quarter, we once again achieved positive net subscriptions, driven by strong demand in our strategic Premium and Private Banking segments. Assets under management increased slightly and are now higher than at year-end. 

Our top-level capabilities in asset management were once again recognised when the portfolio managers of the Aktia Emerging Market Local Currency Bond+ fund were awarded an AAA rating by Citywire. The rating is based on the performance of the funds managed by the portfolio managers.

The loan book remained stable, with continued growth in leasing, factoring, and hire purchase loans. For this profitable product group, the loan book has increased by 18 per cent since year-end. However, as I have previously stated, Aktia is not immune to the interest rate and market situation. This is to some extent reflected in the loan book, even though its quality has remained good in general. On another note, I am very happy that we are continuously attracting new customers and that the customer satisfaction among bank customers is particularly high: the NPS score in the third quarter was 59 for our customer service by phone and 75 for customer meetings.

The positive development of the life insurance business continued with good results in risk insurance and growth in investment-linked insurance. At the same time, the life insurance business is also affected by the market situation and, for example, real estate portfolio impairments are reflected in the results from investment activities. Overall, however, the result remained stable.

Humble in a difficult situation

As the newly appointed CEO, I would like to mention the swift changes in Aktia's management and the considerable attention that the topic has received. The situation has been difficult and the confidence in Aktia has suffered a blow. This is also reflected in the fact that rating agencies have changed their view on our outlook to negative, even though our ratings have remained unchanged.

First and foremost, I turn to our employees, customers and shareholders to express my regret for the situation. At the same time, I would like to emphasise that Aktia's focus is always on the business operations and our customers. We follow a clear strategy and remain committed to it every day as we work toward achieving our defined goals. I am extremely proud of the professional attitude of Aktia employees and their work for the benefit of the customers in all situations. I am also happy that the interest in Aktia as an investment object has remained strong during the quarter and that we have gained several new shareholders every month. Among our long-term shareholders, we have also seen some significant increases in shareholdings.

Long-term, strategic work

At our Extraordinary General Meeting in early October, we warmly welcomed banking veteran Juha Hammarén back to Aktia, now as the new Chair of the Board. Juha Hammarén stated after the meeting that the Board of Directors is now focusing on stability and peaceful working conditions for Aktia's management and the entire organisation in order to achieve the strategic goals for 2029. After assuming the role of CEO, I also had the pleasure of announcing three internal appointments to the Executive Committee: EVP, Asset Management Pasi Vuorinen, CRO Eva-Maria Broman-Rimpi, and CEO of Aktia Life Insurance Ltd Ville Niiranen.

Aktia's overall objective is to create prosperity. In order to continue to provide our customers with the best service, we will continue to develop our operations, services and products, and to invest in functionality and the digital customer experience. We have our sights set on the future, on growth, and on value creation. Together with our skilled employees, we will continue our determined and structured work to implement our strategy and Momentum acceleration programme.

Helsinki 6  November 2025

Anssi Huhta

CEO