Aktia Bank Plc's Interim report January-September 2026: Satisfied customers, record-high assets under management and stable business development despite turbulent market
Aktia Bank Plc
Stock Exchange Release
30 October 2026 at 8.00 a.m.
Aktia Bank Plc’s Interim report January–September 2026: Satisfied customers, record-high assets under management and stable business development despite turbulent market
The quarter in short
- Comparable operating profit: EUR 22.5 (27.4) million, 18% lower than last year mainly due to lower net income from life insurance, slightly higher financing costs and higher operating expenses. The underlying business developed steadily.
- Net interest income: EUR 31.9 (34.0) million, 6% lower than last year, mainly due to slightly higher financing costs. The positive effect of higher market rates is expected to become visible next year.
- Net commission income: EUR 31.1 (31.2) million, including higher income from funds, while slightly burdened by changes in the card business.
- Net income from life insurance: EUR 5.7 (8.2) million, 30% lower than last year mainly due to lower results from run-off insurance.
- Credit losses: EUR 1.5 (3.8) million, 59% lower than last year.
- Comparable operating expenses: EUR 46.5 (42.3) million, 10% higher than last year due to somewhat higher personnel costs and IT costs as well as costs related to purchased services and marketing.
- Assets under management: rose to a new record high of EUR 18.2 billion driven by net sales of EUR 124 million.
- Customer satisfaction: In the 2026 EPSI Rating survey, Aktia secured a clear first place among corporate customers. Among private customers, Aktia climbed to fourth place and the level of “very satisfied customers”.
Outlook 2026 (unchanged)
Aktia’s comparable operating profit for 2026 is expected to be approximately at the same level as, or slightly higher than, the comparable operating profit for 2025, EUR 106.0 million.
The outlook is based on the following assumptions:
- The asset management and life insurance business is expected to develop positively.
- Commission income from funds, asset management and securities brokerage is expected to be somewhat higher than in 2025. However, any potential market uncertainty may have a negative impact on the net commission income.
- In the life insurance business, the investment contract and insurance service results are expected to be higher than in 2025. However, the total life insurance business result is affected by actuarial assumptions that are updated regularly and by changes in market values, which is typical for the sector.
- The banking business result is expected to be slightly lower than in 2025. Net interest income from the banking business is expected to decrease slightly due to the lower level of market interest rates, while the net commission income is expected to be somewhat higher.
- The operating expenses are expected to increase, considering the continued investments in IT and the development of the general cost level.
- Credit losses are expected to be significantly lower than in 2025, both due to the implementation of the new ECL model and its transitional effect of EUR 8.1 million, as well as to lower individual and model-based impairments. However, the uncertainty in the Finnish real estate sector may affect the development of impairments and expected credit losses.
Anssi Huhta, CEO:
Aktia’s business developed steadily in the third quarter. Assets under management reached a new record high of EUR 18.2 billion, while the strategically important risk and unit-linked insurance developed well. Our customer experience, which we have invested in systematically, received very good ratings. However, the operating environment continued to be marked by geopolitical uncertainty, growing inflation concerns and rising market rates.
The comparable operating profit for the quarter amounted to EUR 22.5 (27.4) million.
Stable income
Net interest income development remained stable, and as we have previously noted, the positive impact of higher market rates on net interest income is expected to become more pronounced next year. The net interest income for the quarter amounted to EUR 31.9 million, down 6% from the previous year, mainly reflecting slightly higher financing costs. At the same time, our solid loan portfolio showed its strength and credit losses were once again low at EUR 1.5 million, 59% lower than last year.
The net commission income for the quarter was EUR 31.1 million, in line with last year, supported by higher income from funds due to increased assets under management. Given both the changes in the card business, which led to higher card expenses in the quarter, and the significant income from structured products in the comparison period, we can be satisfied with the development.
In the life insurance business, both risk insurance and unit-linked insurance developed well, fully in line with our strategy. However, the result from run-off insurance was burdened by rising market rates and an increase in estimated future customer compensation. This resulted in a net income from life insurance of EUR 5.7 million, 30% lower than last year.
I would like to clarify that rising interest rates are beneficial for us as a bank in the long term, even though interest-rate hedging measures at the group level mean that the boost to net interest income is somewhat delayed. In the short term, however, it is inherent to the nature of the business that changes in the interest rate environment can cause volatility – for instance, on a quarterly basis – particularly within the life insurance business.
Satisfied customers
One of our strategic priorities is a first-class customer and employee experience. These go hand in hand and are prerequisites for sustainable profitability through long-term customer relationships. A particular highlight of the quarter was the result of the annual, independent EPSI Rating customer satisfaction survey. Among corporate customers, Aktia ranked first with a customer satisfaction index clearly above the industry average. Aktia also achieved a top ranking in the survey’s sustainability index.
The results demonstrate customers’ strong trust and their view of Aktia as a responsible partner with a long-term approach. Among private customers, Aktia climbed to fourth place in the comparison. Satisfaction has risen significantly and now stands at the level of “very satisfied”, exceeding the industry average. I am convinced that these results also reflect our choice to emphasise added value for the customer in our investments in AI.
Increased assets under management
As stated above, assets under management increased to EUR 18.2 billion. Net sales for the quarter amounted to EUR 124 million, with particularly strong net sales in the Private Banking business. In Private Banking, a significant part of investments is also made in insurance wrappers, which underlines the value of our comprehensive Life & Wealth offering. Net sales to Premium customers were once again at a good level. In international sales, assets under management in emerging market debt funds continued to grow, while resources were further strengthened in the DACH region.
Strong confidence
On 28 October, we received positive news reflecting increased confidence in Aktia. S&P Global Ratings announced that the agency had raised its outlook on Aktia from negative to stable. At the same time, S&P affirmed Aktia’s credit ratings at the current level. According to S&P, the outlook revision reflects Aktia’s resilient strategic execution. S&P also highlights Aktia’s ability to generate returns, its strong capitalisation, and the successful stabilisation of leadership. A strong credit rating and a stable issuer profile are highly valuable to us. Market confidence enables favourable funding, which in turn supports competitive and profitable lending. I would like to emphasise that Aktia has a strong capacity to finance both large and small projects.
The final stretch of the anniversary year
This year, Aktia celebrates 200 years of long-term operations in the financial sector. Our strong heritage and our vision for the future are themes I have often had the pleasure of discussing with a large number of current and prospective shareholders, and the response has been positive.
The final stretch of this anniversary year is now upon us, a year that for us at Aktia has further increased the sense of pride in what we have achieved so far and what we will achieve in the future. With strong confidence in the future, our sleeves rolled up and without undue modesty, we look forward to the first of the next 200 years.
Key Figures
| (EUR million) | Q3/2026 | Q3/2025 | ∆ | 1–9/2026 | 1–9/2025 | ∆ | Q2/2026 | ∆ | 1–12/2025 |
| Net interest income | 31.9 | 34.0 | -6% | 97.0 | 103.9 | -7% | 33.1 | -4% | 138.8 |
| Net commission income | 31.1 | 31.2 | 0% | 96.0 | 92.3 | 4% | 32.5 | -4% | 124.6 |
| Net income from life insurance | 5.7 | 8.2 | -30% | 20.9 | 22.7 | -8% | 14.1 | -59% | 30.6 |
| Total operating income | 70.4 | 73.5 | -4% | 217.4 | 220.3 | -1% | 82.1 | -14% | 295.8 |
| Operating expenses | -50.9 | -44.4 | 15% | -142.1 | -135.3 | 5% | -46.8 | 9% | -185.2 |
| Impairment of tangible and intangible assets | - | - | - | - | - | - | - | - | -70.1 |
| Impairment of credits and other commitments | -1.5 | -3.8 | -59% | 3.5 | -9.9 | - | 6.8 | - | -15.8 |
| Operating profit | 18.0 | 25.3 | -29% | 78.8 | 75.2 | 5% | 42.1 | -57% | 24.9 |
| Comparable operating income 1 | 70.4 | 73.5 | -4% | 217.4 | 220.0 | -1% | 82.1 | -14% | 295.6 |
| Comparable operating expenses 1 | -46.5 | -42.3 | 10% | -136.0 | -127.9 | 6% | -45.1 | 3% | -173.9 |
| Comparable operating profit 1 | 22.5 | 27.4 | -18% | 84.8 | 82.3 | 3% | 43.7 | -49% | 106.0 |
| Cost-to-income ratio 1 | 0.72 | 0.60 | 19% | 0.65 | 0.61 | 6% | 0.57 | 27% | 0.63 |
| Comparable cost-to-income ratio 1 | 0.66 | 0.58 | 15% | 0.63 | 0.58 | 8% | 0.55 | 20% | 0.59 |
| Earnings per share (EPS), EUR 2 | 0.18 | 0.27 | -33% | 0.81 | 0.81 | 1% | 0.44 | -59 % | 0.11 |
| Comparable earnings per share (EPS), EUR 1, 2 | 0.23 | 0.29 | -21% | 0.88 | 0.88 | -1% | 0.46 | -50% | 1.13 |
| Return on equity (ROE), % 1 | 8.9 | 11.8 | -2.9* | 13.0 | 11.7 | 1.3* | 20.7 | -11.8* | 1.5 |
| Comparable return on equity (ROE), % 1 | 11.1 | 12.8 | -1.7* | 14.0 | 12.8 | 1.1* | 21.5 | -10.4* | 12.8 |
| Common Equity Tier 1 capital ratio (CET1), % 3 | 12.6 | 13.0 | -0.4* | 12.6 | 13.0 | -0.4* | 12.0 | 0.6* | 12.6 |
| Dividend per share, EUR | 0.80 |
1 Alternative performance measures
2 Earnings per share (EPS) has been changed so that the result includes interest expenses (net of tax) on Additional Tier 1 (AT1) capital instruments. The impact was marginally negative. For further information, see Note 1.
3 At the end of the period
*The change is calculated in percentage points
Briefing for analysts, investors and media
Aktia's results briefing for analysts, investors and media will be held in English on Friday 30 October 2026 at 10.30 a.m. Aktia's CEO Anssi Huhta and CFO Sakari Järvelä will present the results.
The briefing can be seen live as a webcast or as a recording after the briefing at https://aktia.events.inderes.com/q3-2026.
Questions can be submitted in writing during the live webcast via the webcast platform or by phone by participating in the conference call. Participants can register for the conference call at https://events.inderes.com/aktia/q3-2026/dial-in. Following registration, participants will receive a phone number and a conference ID to join the call. To ask a question, participants can join the queue by pressing #5 on their telephone keypad.
Aktia Bank Plc
For more information:
Oscar Taimitarha, Director, Investor Relations, Tel. +358 40 562 2315, Email ir (at) aktia.fi
Distribution:
Nasdaq Helsinki Ltd
Mass media
www.aktia.com
Aktia, celebrating its 200th anniversary this year, is a growing Finnish financial group. Since 1826, our mission has been to safeguard and increase the wealth and well-being of our customers and society as a whole. Our operations are based on strong values, long-term commitment, and trust. We provide expert, personal support to our customers across Finland, helping them develop their finances and build prosperity across generations. Our award-winning asset management business also sells investment funds internationally.
Our strong business model is based on complementary wealth management, life insurance, and banking services. We employ approximately 850 people around Finland. Aktia's gross assets under management (AuM) on 30 September 2026 amounted to EUR 18.2 billion and the balance sheet total was EUR 11.9 billion. Aktia's share is listed on Nasdaq Helsinki Ltd (AKTIA). Read more about Aktia: aktia.com.
