CEO’s comments
Aktia's second quarter of 2026 was strong. Among other factors, record-high assets under management and the recovery in investment markets – combined with the positive effects of changes in expected credit losses (ECL) – are reflected in the quarter’s result. The strong quarter also strengthens the outlook for the full year.
The exceptionally strong comparable operating profit of EUR 43.7 million during the quarter was 67% higher than last year. The result is explained by both positive developments in the underlying business and the effect of the new ECL model. As expected, the decline in net interest income levelled out and the trend turned upward. Net interest income was EUR 33.1 million, which is higher than in the previous quarter, although 5% lower than last year. Net commission income increased to EUR 32.5 million, up 7% from last year, mainly due to higher income from funds. Net income from life insurance of EUR 14.1 million was 75% higher than last year thanks to the recovery in investment operations and the good development of both risk and unit-linked insurances.
Credit losses were EUR 10.0 million lower than last year, mainly due to the implementation of the new ECL model and its transitional effect of EUR 8.1 million, as previously announced. Overall, credit losses developed positively as individual impairments decreased by EUR 1.6 million and model-based ECL impairments were EUR 0.3 million lower than last year.
I am also pleased to see that the positive development in employee satisfaction continued. The Employee Net Promoter Score (eNPS) rose to +35, the highest level we have ever achieved, which is again a step in the desired direction and brings us closer to the goals of our sustainability strategy.
Strategic choices pay off
The Life & Wealth operations developed strongly in the second quarter, with assets under management rising to a new record level of EUR 18.1 billion, thanks to stable net sales of EUR 376 million and favourable market development. Assets under management in unit-linked insurance policies also reached a new record level of EUR 1.7 billion. At the same time, investments in international sales progressed according to plan and I am pleased to note the first deals coming through the new international distribution channels. Net sales to international institutions exceeded EUR 130 million.
In Banking, we saw continued growth in leasing, factoring and hire purchase, and in particular financing in areas other than transport developed well, contributing to a good diversification of the portfolio. While financing, such as leasing, increased in line with our strategy, risk exposure within the real estate sector decreased in the corporate loan book. Banking is also a key sales channel for the services and products of the Life & Wealth operations, which is reflected in the stable sales of investment solutions to Premium customers in particular and in the efforts to increase insurance sales to banking customers.
Focus on strategy, growth and efficiency
We continue to implement our strategic choices by disciplined execution and follow-up of the strategic decisions and efforts we have made. During the year, we clearly moved into the next phase of the earlier Momentum growth programme. As we described at year-end, the programme’s core actions have been implemented and are now an integral part of our normal ways of working. In practice, this means that Momentum and its various focus areas are no longer a standalone programme with separate reporting. We have achieved what we set out to do: stronger focus on growth, transparency and a systematic approach. The effects of these actions are directly visible in our day-to-day operations, for example in efficiency, commercial activity and investments in selected growth segments.
The anniversary year continues with a clear focus on the future
On Wednesday, 8 April, we celebrated Aktia’s 200th anniversary, as it was exactly 200 years since the first deposit was made in the Helsinki Savings Bank. Ever since the first account was opened, Aktia and its predecessors have been committed to increasing economic prosperity in Finland.
I feel a great sense of pride, humility and responsibility when I reflect on our long history and how it above all compels us to think further. Our customers, shareholders, employees and other stakeholders can rely on Aktia to be a knowledgeable and courageous partner with a clear focus on the future.
Anssi Huhta
CEO
Helsinki, 30 July 2026
