Comparative figures for Aktia Groups Interim reports 1 January 2012–30 June 2013 and Financial statements 1 January–31 December 2012
Helsinki, Finland, 2013-11-01 10:00 CET (GLOBE NEWSWIRE) --
Aktia Bank plc
Stock Exchange Release
1.11.2013 at 11.00 a.m.
Comparative figures for Aktia Groups Interim reports 1 January 2012–30 June
2013 and Financial statements 1 January–31 December 2012
The former parent company of the Aktia Group, Aktia plc, merged with its
wholly-owned subsidiary Aktia Bank plc on 1 July 2013. Following the merger,
Aktia Bank plc has become the parent company of the Group. The merger is part
of the Aktia Group’s Plan of Action 2015, which aims to simplify the structure
of the Group and increase cost-effectiveness within administration, processes
and common functions.
Effect of the merger on the Group’s financial position
Because the merger took place within the Group and Aktia plc owned 100% of the
shares in Aktia Bank plc, the merger had no direct effect on the results for
the Aktia Group. Nor did the merger have any effect on the Aktia Group’s
balance-sheet total or total equity.
The new Group structure, with Aktia Bank plc as the parent company for the
Group’s insurance operations also, affected the Bank Group’s capital adequacy
as of 1 July 2013 by –0.9 percentage points and its Tier 1 capital ratio by
–0.4 percentage points.
Comparative figures for the Group Aktia Bank plc
The merger of the Group’s former parent company brought no significant changes
to the Aktia Group’s financial position or operating activities. The
comparative figures in this interim report have been compiled so that the
financial information for the present Group with Aktia Bank plc as its parent
can be compared with the same, completely equivalent financial information that
was published in earlier periods when Aktia plc was the parent company for the
Group. Starting with Aktia Bank plc’s Interim report 1-9/2013 comparative
figures will be included according to this principle. The comparative figures
will vary from earlier figures reported by Aktia Bank plc, as Aktia Bank plc
was not parent company of the Aktia Group earlier.
Aktia Bank plc’s Interim report 1 January–30 September 2013 will be published
on 7 November 2013.
The tables below show comparative figures for the Group Aktia Bank plc’s income
statement, key figures and balance sheet for previous periods.
Aktia Bank Group’s income
statement
(EUR million) 1-3/201 1-6/201 1-9/201 1-12/20 1-3/201 1-6/201
2 2 2 12 3 3
Continuing operations
Net interest income 29.6 59.3 88.0 117.3 30.1 58.4
Dividends 0.0 0.1 0.1 0.1 0.0 0.1
Commission income 19.6 40.6 60.7 80.8 21.0 44.1
Commission expenses -3.9 -7.6 -11.3 -15.5 -4.1 -8.6
Net commission income 15.7 32.9 49.4 65.3 16.9 35.5
Net income from life 6.2 13.5 19.0 27.3 7.6 13.1
insurance
Net income from financial 0.3 0.5 -0.2 2.9 2.2 4.1
transactions
Net income from investment 0.0 0.1 0.2 0.3 0.0 0.4
properties
Other operating income 1.4 2.6 3.2 4.7 0.8 1.6
Total operating income 53.2 109.0 159.5 217.9 57.5 113.2
Staff costs -18.6 -37.7 -55.3 -75.4 -19.2 -38.0
IT-expenses -6.4 -12.9 -18.8 -31.4 -5.9 -14.0
Depreciation of tangible -1.8 -3.5 -5.2 -7.2 -1.7 -3.4
and intangible assets
Other operating expenses -9.9 -20.1 -28.8 -40.3 -10.7 -21.3
Total operating expenses -36.7 -74.2 -108.2 -154.2 -37.5 -76.8
Write-downs on other - - -1.8 -1.8 - -
financial assets
Write-downs on credits and -1.9 -2.8 -4.6 -6.4 -1.1 -1.5
other commitments
Share of profit from -0.3 0.2 0.8 0.5 0.6 -0.3
associated companies
Operating profit from 14.3 32.2 45.6 56.0 19.5 34.6
continuing operations
Taxes from continuing -4.1 -8.2 -11.7 -15.8 -4.7 -8.8
operations
Profit for the period from 10.2 24.0 33.9 40.3 14.8 25.8
continuing operations
Discontinued operations
Profit for the period from 9.3 9.8 9.8 9.8 - -
discontinued operations
Profit for the period 19.6 33.8 43.7 50.0 14.8 25.8
Attributable to:
Shareholders in Aktia Bank 19.3 33.3 43.1 49.2 14.8 25.6
plc
Non-controlling interest 0.3 0.5 0.6 0.8 0.0 0.2
Total 19.6 33.8 43.7 50.0 14.8 25.8
Aktia Bank Group’s
statement of
comprehensive income
(EUR million) 1-3/201 1-6/201 1-9/201 1-12/20 1-3/201 1-6/201
2 2 2 12 3 3
Continuing operations
Profit for the period from 10.2 24.0 33.9 40.3 14.8 25.8
continuing operations
Other comprehensive income
after taxes:
Change in valuation of 41.9 47.5 95.4 94.6 -3.3 -21.7
fair value for financial
assets available for sale
Change in valuation of - - 0.0 0.2 0.8 1.5
fair value for financial
assets held until
maturity
Change in valuation of -3.0 -4.3 -6.5 -3.3 -2.9 -5.9
fair value for cash flow
hedging
Transferred to the income 5.3 5.2 5.2 16.1 -1.5 -3.6
statement for financial
assets available for sale
Transferred to the income - - - -5.8 - -
statement for cash flow
hedging
Comprehensive income from 44.3 48.5 94.1 101.8 -7.0 -29.7
items which can be
transferred to the income
statement
Defined benefit plan - - - -0.6 - -
pensions
Comprehensive income from - - - -0.6 - -
items which can not be
transferred to the income
statement
Total comprehensive income 54.5 72.5 128.0 141.5 7.7 -3.9
for the period from
continuing operations
Discontinued operations
Profit for the period from 9.3 9.8 9.8 9.8 - -
discontinued operations
Other comprehensive income
after taxes:
Change in valuation of 1.8 1.8 1.8 1.8 - -
fair value for financial
assets available for sale
Transferred to the income -6.3 -6.3 -6.3 -6.3 - -
statement for financial
assets available for sale
Comprehensive income from -4.5 -4.5 -4.5 -4.5 - -
items which can be
transferred to the income
statement
Total comprehensive income 4.9 5.3 5.3 5.3 - -
for the period from
discontinued operations
Total comprehensive income 59.4 77.8 133.3 146.8 7.7 -3.9
for the period
Total comprehensive income
attributable to:
Shareholders in Aktia Bank 58.8 77.5 132.1 145.6 7.4 -4.7
plc
Non-controlling interest 0.5 0.4 1.2 1.2 0.3 0.8
Total 59.4 77.8 133.3 146.8 7.7 -3.9
Key figures
(EUR million) 1-3/201 1-6/201 1-9/201 1-12/20 1-3/201 1-6/201
2 2 2 12 3 3
Earnings per share (EPS), 0.15 0.35 0.50 0.59 0.22 0.38
continuing operations,
EUR
Earnings per share (EPS), 0.14 0.15 0.15 0.15 - -
discontinued operations,
EUR
Earnings per share (EPS), 0.29 0.50 0.65 0.74 0.22 0.38
EUR
Equity per share (NAV), 7.89 7.88 8.70 8.91 9.02 8.34
EUR 1)
Return on equity (ROE), % 14.1 12.2 10.0 8.5 8.9 8.1
Total earnings per share, 0.88 1.16 1.99 2.19 0.11 -0,07
EUR
Capital adequacy ratio 184.9 190.5 203.4 205.1 203.5 202.9
(finance and insurance
conglomerate), % 1)
Average number of shares, 66.5 66.5 66.5 66.5 66.5 66.6
million 2)
Number of shares at the 66.5 66.5 66.5 66.5 66.6 66.6
end of the period,
million 1)
Personnel (FTEs), average 1,148 1,089 1,056 1,044 1,013 1,010
number of employees from
the beginning of the year
1)
Group financial assets 2,813.8 2,443.3 2.817,0 2.955.0 2,814.9 3,379.7
1) *)
Banking Business (incl.
Private Banking)
Cost-to-Income ratio 0.68 0.69 0.69 0.74 0.67 0.68
Borrowing from the public 3,689.4 3,714.4 3,651.4 3,631.5 3,631.8 3,807.2
1)
Lending to the public 1) 7,183.8 7,217.8 7,251.6 7,201.6 7,132.6 6,984.9
Capital adequacy ratio, % 18.1 18.9 19.9 20.2 20.0 20.3
1)
Tier 1 capital ratio, % 11.3 11.7 11.8 11.8 11.7 12.1
1)
Risk-weighted commitments 3,767.3 3,742.0 3,727.9 3,611.2 3,683.7 3,625.3
1)
Asset Management
& Life
Insurance
Assets under management 5,409.8 5,256.9 5,569.0 5,877.4 6,214.0 5,901.7
1) **)
Premiums written before 30.0 49.7 71.6 111.2 46.1 83.5
reinsurers’ share
Expense ratio, % 2) 93.4 94.4 93.1 90.8 95.6 95.0
Solvency margin 1) 131.6 141.1 160.5 158.6 157.3 147.5
Solvency ratio, % 2) 22.8 24.7 27.9 27.4 27.2 25.3
Investments at fair value 960.6 950.3 987.9 1,020.7 1,034.2 1,050.1
1)
Technical provisions for 532.3 523.2 517.5 519.9 517.0 512.2
interest-related
insurances 1)
Technical provisions for 317.8 315.1 337.7 358.5 400.5 410.3
unit-linked insurances
1)
1) At the end of the
period
2) Cumulative from the
beginning of the year
*) Group financial assets = the Bank Group's
liquidity portfolio and the life insurance company's
investment portfolio
**) Assets under management = Aktia Fund Management Company’s assets under
management and brokered mutual funds and assets managed by Aktia Invest, Aktia
Asset Management, Aktia Bank’s Private Banking and Aktia Life Insurance
Formulas for key figures are presented in
Aktia plc's annual report 2012 page 18.
Aktia Bank
Group’s
balance
sheet
(EUR million) 31.3.2012 30.6.2012 30.9.2012 31.12.2012 31.3.2013 30.6.2013
Assets
Cash and 220.4 70.8 236.6 587.6 295.1 448.5
balances
with central
banks
Financial 0.7 1.3 0.5 0.1 0.0 0.0
assets
reported at
fair value
via the
income
statement
Interest-bear 2,588.7 2,360.0 2,558.3 2,011.7 2,158.2 2,549.3
ing
securities
Shares and 87.8 88.6 97.1 95.0 98.8 98.3
participatio
ns
Financial 2,676.5 2,448.6 2,655.4 2,106.7 2,257.0 2,647.6
assets
available
for sale
Financial 19.3 15.8 10.1 350.0 362.5 355.7
assets held
until
maturity
Derivative 309.3 350.1 395.7 302.2 270.8 210.5
instruments
Lending to 131.0 551.5 167.8 158.7 129.0 109.6
Bank of
Finland and
credit
institutions
Lending to 7,183.8 7,217.8 7,251.6 7 201.6 7,132.6 6,984.9
the public
and public
sector
entities
Loans and 7,314.8 7,769.3 7,419.4 7 360.2 7,261.6 7,094.5
other
receivables
Investments 318.3 316.4 338.0 360.9 401.1 412.7
for
unit-linked
provisions
Investments 20.4 21.3 21.1 21.1 21.2 18.4
in
associated
companies
Intangible 14.0 14.5 14.3 14.2 14.5 15.0
assets
Investment 18.6 28.3 27.8 28.3 28.3 51.0
properties
Other 6.7 6.5 6.0 5.7 5.4 5.3
tangible
assets
Accrued 85.4 74.0 81.2 75.0 70.8 70.5
income and
advance
payments
Other assets 45.4 104.3 7.5 3.3 124.9 4.4
Total other 130.8 178.3 88.7 78.3 195.7 74.9
assets
Income tax 3.4 4.0 3.8 0.1 0.9 2.0
receivables
Deferred tax 2.2 1.2 0.9 23.5 22.3 21.8
receivables
Tax 5.6 5.1 4.6 23.6 23.1 23.8
receivables
Assets 2.2 2.1 2.0 1.5 1.4 1.2
classified
as held for
sale
Total assets 11,057,6 11,228.4 11,220.3 11, 240.2 11,137.7 11,359.2
Liabilities
Liabilities 977.0 1,075.5 1,097,3 1,057.6 983.5 1,051.5
to credit
institutions
Liabilities 3 689.4 3,714.4 3,651,4 3,631.5 3,631.8 3,807.2
to the
public and
public
sector
entities
Deposits 4 666.4 4,789.9 4,748,7 4,689.0 4,615.2 4,858.7
Derivatinstru 157.6 174.3 188,0 186.4 161.6 145.4
ment
Debt 3 889.0 3,930.5 3,871,3 3,878.9 3,888.1 4,065.9
securities
issued
Subordinated 251.6 263.6 265,4 268.2 274.2 269.7
liabilities
Other 360.2 311.3 260,1 290.9 250.8 141.5
liabilities
to credit
institutions
Other 65.1 108.1 162,8 146.7 128.7 51.1
liabilities
to the
public and
public
sector
entities
Other 4 565.9 4,613.5 4,559,5 4,584.7 4,541.8 4,528.2
financial
liabilities
Technical 532.3 523.2 517,5 519.9 517.0 512.2
provisions
for
interest-rel
ated
insurances
Technical 317.8 315.1 337,7 358.5 400.5 410.3
provisions
for
unit-linked
insurances
Technical 850.2 838.3 855.1 878.5 917.4 922.5
provisions
Accrued 118.9 98.0 100.6 93.1 100.5 73.2
expenses and
income
received in
advance
Other 66.2 77.5 59.2 55.2 39.8 142.7
liabilities
Total other 185.1 175.5 159.9 148.3 140.4 215.8
liabilities
Provisions - - - 6.9 6.9 6.9
Income tax 3.4 1.5 2.7 23.3 24.1 1.0
liabilities
Deferred tax 45.6 47.3 62.4 65.5 64.8 60.5
liabilities
Tax 49.0 48.8 65.1 88.8 88.9 61.5
liabilities
Liabilities 0.2 0.2 0.2 0.2 0.2 0.2
for assets
classified
as held for
sale
Total 10,474.3 10,640.5 10,576.5 10,582.8 10,472.4 10,739.1
liabilities
Equity
Restricted 162.8 167,4 212.3 220.2 212.9 190.0
equity
Unrestricted 362.2 356,5 366.6 372.4 387.4 365.1
equity
Shareholders' 525.0 523,9 578.9 592.6 600.2 555.1
share of
equity
Non-controlli 58.3 64,0 64.8 64.8 65.1 64.9
ng interest's
share of
equity
Equity 583.3 587,8 643.7 657.4 665.4 620.0
Total 11,057.6 11,228,4 11,220.3 11,240.2 11,137.7 11,359.2
liabilities
and equity
AKTIA BANK PLC
CFO Fredrik Westerholm, tel. +358 10 247 6505
IR Anna Gabrán, tel. +358 10 247 6501, [email protected]
Distribution:
Nasdaq OMX Helsinki,
mass media,
www.aktia.fi
Aktia Group provides a broad range of products within banking, insurance and
real estate agency.- Aktia operates in Finland's coastal areas and inland
growth areas. Aktia has some 300,000 customers who are served by 1,000
employees at branch offices and via Internet and telephone services. Aktia's
shares are listed on NASDAQ OMX Helsinki Ltd. For more information about Aktia,
see www.aktia.fi.
