Aktia Bank Plc: Aktia Bank’s new division into business segments as of 1 January 2018
Aktia Bank Plc
Other information disclosed according to the rules of the Exchange
3 May at 4 pm
Aktia Bank Plc: Aktia Bank’s new division into business segments as of 1 January 2018
As a part of Aktia’s earlier published new strategy with focus on asset management and financing the Group has changed the reporting of business segments to adopt the new strategy and organisation as of 1 January 2018.
As of 1 January 2018 Aktia Group has three reporting business segments: Personal & Corporate Banking, Wealth Management and Group functions as well as Miscellaneous that do not form a reporting business segment.
Personal & Corporate Banking
Personal Banking offers Aktia’s private customers a wide range of financing-, insurance-, savings- and investment products and services through various channels. The segment also includes the customer concept Aktia Premium. Corporate Banking serves companies and organisations from micro businesses and organisations to listed companies.
Wealth Management
The segment covers Asset Management, Private Banking and life insurance businesses. The segment offers asset management and financial services to wealthy private customers and institutional investors. The segment also offers a wide range of investment and life insurance products for distribution in Aktia’s all customer segments.
Group functions
Group functions consist of the Group’s support and staff functions. The units handle the Group’s financing and liquidity management and assist the other business segments with sales-, IT- and product support and -development. Group functions are also responsible for risk- and financial monitoring and control.
Miscellaneous
The Group’s other businesses mainly consist of Aktia Real Estate Agency Ltd.
Private Banking and institutional customers that were previously included in the segment Banking Business are included in the new segment Wealth Management.
The Group’s Treasury operations as well as the support and staff functions, have been transferred from the previous segments Banking Business and Miscellaneous to the new segment Group functions.
Miscellaneous mainly consist of Aktia Real Estate Agency Ltd.
The new segment Personal & Corporate Banking consists of the previous segment Banking Business taking the above-mentioned changes into account.
Comparative figures for 2017 relating to the new business segments are presented below. An Excel file that contains the comparative figures is attached to this stock exchange release. The change only has impact on the segmentation and it does not change the Aktia Group’s earlier published result for 2017.
| (EUR million) | Personal & Corporate Banking | Wealth Manage-ment | Group functions | Miscella-neous | Elimina-tions | Total Group |
| Income statement | Jan-Mar 2017 | Jan-Mar 2017 | Jan-Mar 2017 | Jan-Mar 2017 | Jan-Mar 2017 | Jan-Mar 2017 |
| Net interest income | 15.6 | 0.6 | 7.2 | 0.0 | 0.0 | 23.4 |
| Net commission income | 12.7 | 8.6 | 1.0 | 1.6 | -2.7 | 21.1 |
| Net income from life insurance | - | 6.3 | - | - | 0.7 | 7.0 |
| Other operating income | -0.1 | 0.1 | 1.6 | - | -0.1 | 1.6 |
| Total operating income | 28.2 | 15.5 | 9.8 | 1.6 | -2.0 | 53.1 |
| Staff costs | -6.1 | -4.2 | -6.5 | -1.0 | - | -17.9 |
| Other expenses | -17.2 | -5.8 | 2.2 | -0.7 | 2.1 | -19.4 |
| Total operating expenses | -23.3 | -10.0 | -4.3 | -1.7 | 2.1 | -37.3 |
| Impairment of tangible and intangible assets | - | - | - | - | - | - |
| Write-downs on credits and other commitments | 0.0 | - | 0.0 | - | - | -0.1 |
| Share of profit from associated companies | - | - | - | - | 0.6 | 0.6 |
| Operating profit | 4.8 | 5.5 | 5.5 | -0.1 | 0.6 | 16.4 |
| Comparable operating profit | 4.8 | 6.2 | 4.4 | -0.1 | 0.6 | 15.9 |
| Balance sheet | 31 Mar 2017 | 31 Mar 2017 | 31 Mar 2017 | 31 Mar 2017 | 31 Mar 2017 | 31 Mar 2017 |
| Financial assets measured at fair value through income statement | - | 751.0 | - | - | - | 751.0 |
| Financial assets measured at fair value through other comprehensive income | 0.1 | 503.9 | 1,502.8 | 0.0 | -3.5 | 2,003.2 |
| Cash and balances with central banks | 5.5 | 0.2 | 494.1 | 0.0 | - | 499.7 |
| Interest-bearing securities measured at amortised cost | - | - | 450.8 | - | - | 450.8 |
| Loans and other receivables | 5,541.7 | 148.5 | 92.0 | 4.2 | -37.3 | 5,749.2 |
| Other assets | 15.3 | 78.8 | 380.2 | 0.9 | -144.2 | 331.0 |
| Total assets | 5,562.6 | 1,482.4 | 2,920.0 | 5.2 | -185.1 | 9,785.0 |
| Deposits | 3,426.0 | 757.2 | 767.5 | - | -36.9 | 4,913.9 |
| Debt securities issued | 116.5 | - | 2,352.4 | - | -3.5 | 2,465.3 |
| Technical provisions | - | 1,184.1 | - | - | - | 1,184.1 |
| Other liabilities | 6.9 | 28.9 | 577.2 | 2.9 | -15.4 | 600.6 |
| Total liabilities | 3,549.5 | 1,970.3 | 3,697.1 | 2.9 | -55.8 | 9,164.0 |
| (EUR million) | Personal & Corporate Banking | Wealth Manage-ment | Group functions | Miscella-neous | Elimina-tions | Total Group |
| Income statement | Jan-Jun 2017 | Jan-Jun 2017 | Jan-Jun 2017 | Jan-Jun 2017 | Jan-Jun 2017 | Jan-Jun 2017 |
| Net interest income | 32.7 | 1.4 | 12.2 | 0.0 | 0.0 | 46.2 |
| Net commission income | 27.2 | 18.4 | 1.8 | 3.9 | -5.5 | 45.7 |
| Net income from life insurance | - | 11.3 | - | - | 1.5 | 12.8 |
| Other operating income | 0.2 | 0.1 | 2.4 | - | -0.1 | 2.6 |
| Total operating income | 60.0 | 31.2 | 16.4 | 3.9 | -4.1 | 107.3 |
| Staff costs | -12.6 | -8.4 | -15.9 | -2.2 | - | -39.1 |
| Other expenses | -35.6 | -11.9 | 6.8 | -1.4 | 4.1 | -38.0 |
| Total operating expenses | -48.1 | -20.3 | -9.1 | -3.6 | 4.1 | -77.0 |
| Impairment of tangible and intangible assets | - | - | - | - | - | - |
| Write-downs on credits and other commitments | -0.1 | - | 0.0 | - | - | -0.1 |
| Share of profit from associated companies | - | - | - | - | 0.6 | 0.6 |
| Operating profit | 11.8 | 10.9 | 7.2 | 0.3 | 0.6 | 30.8 |
| Comparable operating profit | 13.6 | 12.0 | 6.2 | 0.3 | 0.6 | 32.8 |
| Balance sheet | 30 Jun 2017 | 30 Jun 2017 | 30 Jun 2017 | 30 Jun 2017 | 30 Jun 2017 | 30 Jun 2017 |
| Financial assets measured at fair value through income statement | - | 764.8 | - | - | - | 764.8 |
| Financial assets measured at fair value through other comprehensive income | 0.1 | 505.7 | 1,563.4 | 0.0 | -3.5 | 2,065.5 |
| Cash and balances with central banks | 7.0 | 0.2 | 188.1 | - | - | 195.3 |
| Interest-bearing securities measured at amortised cost | - | - | 396.1 | - | - | 396.1 |
| Loans and other receivables | 5,582.8 | 154.1 | 89.5 | 3.9 | -34.7 | 5,795.7 |
| Other assets | 16.4 | 51.8 | 302.5 | 1.1 | -73.5 | 298.3 |
| Total assets | 5,606.2 | 1,476.6 | 2539.6 | 5.1 | -111.7 | 9,515.7 |
| Deposits | 3,482.9 | 773.0 | 547.7 | - | -34.3 | 4,769.4 |
| Debt securities issued | 1.4 | - | 2,458.9 | - | -3.5 | 2,456.8 |
| Technical provisions | - | 1,193.0 | - | - | - | 1,193.0 |
| Other liabilities | 5.7 | 34.1 | 472.8 | 2.5 | -6.5 | 508.5 |
| Total liabilities | 3,490.0 | 2,000.1 | 3,479.4 | 2.5 | -44.3 | 8,927.7 |
| (EUR million) | Personal & Corporate Banking | Wealth Manage-ment | Group functions | Miscella-neous | Elimina-tions | Total Group |
| Income statement | Jan-Sep 2017 | Jan-Sep 2017 | Jan-Sep 2017 | Jan-Sep 2017 | Jan-Sep 2017 | Jan-Sep 2017 |
| Net interest income | 48.4 | 1.9 | 17.4 | 0.0 | 0.0 | 67.8 |
| Net commission income | 39.3 | 28.5 | 2.5 | 5.5 | -8.1 | 67.7 |
| Net income from life insurance | - | 17.0 | - | - | 2.3 | 19.2 |
| Other operating income | 0.3 | 0.2 | 2.6 | - | -0.2 | 2.9 |
| Total operating income | 87.9 | 47.6 | 22.6 | 5.5 | -6.0 | 157.6 |
| Staff costs | -20.2 | -12.8 | -24.9 | -3.3 | - | -61.1 |
| Other expenses | -55.1 | -18.0 | 11.6 | -2.1 | 6.1 | -57.6 |
| Total operating expenses | -75.3 | -30.8 | -13.3 | -5.3 | 6.1 | -118.7 |
| Impairment of tangible and intangible assets | -0.5 | - | - | - | - | -0.5 |
| Write-downs on credits and other commitments | -0.1 | - | -0.1 | - | - | -0.1 |
| Share of profit from associated companies | - | - | - | - | 0.6 | 0.6 |
| Operating profit | 12.0 | 16.7 | 9.2 | 0.2 | 0.7 | 38.9 |
| Comparable operating profit | 20.3 | 19.0 | 8.3 | 0.2 | 0.7 | 48.5 |
| Balance sheet | 30 Sep 2017 | 30 Sep 2017 | 30 Sep 2017 | 30 Sep 2017 | 30 Sep 2017 | 30 Sep 2017 |
| Financial assets measured at fair value through income statement | - | 784.2 | - | - | - | 784.2 |
| Financial assets measured at fair value through other comprehensive income | 0.1 | 497.9 | 1.521.5 | 0.0 | -3.5 | 2,016.0 |
| Cash and balances with central banks | 5.3 | 0.1 | 135.0 | - | - | 140.4 |
| Interest-bearing securities measured at amortised cost | - | - | 404.2 | - | - | 404.2 |
| Loans and other receivables | 5,671.3 | 162.6 | 85.4 | 3.8 | -42.2 | 5,881.0 |
| Other assets | 16.9 | 39.9 | 305.1 | 1.3 | -74.0 | 289.2 |
| Total assets | 5,693.6 | 1,484.7 | 2,451.2 | 5.1 | -119.7 | 9,514.9 |
| Deposits | 3,461.1 | 750.0 | 607.3 | - | -41.8 | 4,776.6 |
| Debt securities issued | 1.3 | - | 2,456.4 | - | -3.5 | 2,454.1 |
| Technical provisions | - | 1,205.4 | - | - | - | 1,205.4 |
| Other liabilities | 9.9 | 37.7 | 442.1 | 2.6 | -7.0 | 485.2 |
| Total liabilities | 3,472.2 | 1,993.1 | 3,505.8 | 2.6 | -52.4 | 8,921.3 |
| (EUR million) | Personal & Corporate Banking | Wealth Manage-ment | Group functions | Miscella-neous | Elimina-tions | Total Group |
| Income statement | Jan-Dec 2017 | Jan-Dec 2017 | Jan-Dec 2017 | Jan-Dec 2017 | Jan-Dec 2017 | Jan-Dec 2017 |
| Net interest income | 64.3 | 2.5 | 22.8 | 0.0 | 0.1 | 89.6 |
| Net commission income | 52.6 | 38.7 | 3.5 | 7.4 | -10.8 | 91.4 |
| Net income from life insurance | - | 23.6 | - | - | 3.0 | 26.6 |
| Other operating income | 0.3 | 0.2 | 2.3 | - | -0.2 | 2.6 |
| Total operating income | 117.3 | 64.9 | 28.6 | 7.4 | -7.9 | 210.3 |
| Staff costs | -24.8 | -17.1 | -32.8 | -4.4 | - | -79.1 |
| Other expenses | -74.6 | -24.7 | 12.5 | -2.8 | 8.0 | -81.6 |
| Total operating expenses | -99.4 | -41.8 | -20.3 | -7.1 | 8.0 | -160.7 |
| Impairment of tangible and intangible assets | -0.5 | - | - | - | - | -0.5 |
| Write-downs on credits and other commitments | -0.5 | - | -0.1 | - | - | -0.6 |
| Share of profit from associated companies | - | - | - | - | 0.6 | 0.6 |
| Operating profit | 16.8 | 23.1 | 8.2 | 0.3 | 0.7 | 49.1 |
| Comparable operating profit | 25.3 | 25.4 | 8.3 | 0.3 | 0.7 | 59.9 |
| Balance sheet | 31 Dec 2017 | 31 Dec 2017 | 31 Dec 2017 | 31 Dec 2017 | 31 Dec 2017 | 31 Dec 2017 |
| Financial assets measured at fair value through income statement | - | 802.6 | - | - | - | 802.6 |
| Financial assets measured at fair value through other comprehensive income | 0.1 | 485.2 | 1,440.1 | 0.0 | - | 1,925.4 |
| Cash and balances with central banks | 4.6 | 0.2 | 277.7 | - | - | 282.5 |
| Interest-bearing securities measured at amortised cost | - | - | 367.8 | - | - | 367.8 |
| Loans and other receivables | 5,721.7 | 171.5 | 45.0 | 3.7 | -53.2 | 5,888.7 |
| Other assets | 16.7 | 81.5 | 261.9 | 0.5 | -77.5 | 283.1 |
| Total assets | 5,743.1 | 1,541.0 | 2,392.4 | 4.2 | -130.6 | 9,550.0 |
| Deposits | 3,443.1 | 781.0 | 641.7 | - | -52.8 | 4,813.0 |
| Debt securities issued | 1.2 | - | 2,449.6 | - | - | 2,450.7 |
| Technical provisions | - | 1,217.3 | - | - | - | 1,217.3 |
| Other liabilities | 5.5 | 41.0 | 433.2 | 1.6 | -10.5 | 470.9 |
| Total liabilities | 3,449.8 | 2,039.3 | 3,524.5 | 1.6 | -63.3 | 8,952.0 |
AKTIA BANK PLC
For more information:
Outi Henriksson, CFO, tel. +358 10 247 6236
Andreas Lagerbohm, Financial Manager, tel. +358 10 247 6346
From:
Anders Wikström, IR-specialist, tel. +358 10 247 6294
Distribution:
Nasdaq Helsinki Ltd
Central media
www.aktia.com
Aktia provides a broad range of solutions within banking, asset management, insurance and real estate agency. Aktia operates mainly in coastal areas and inland growth areas. Aktia has about 380,000 customers who are served at branch offices and via web, mobile interfaces as well as telephone services. Aktia's shares (AKTAV, AKTRV) are listed on the list of Nasdaq Helsinki Ltd. For more information about Aktia see www.aktia.com.
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