Aktia Pankki (AKTIA) Q2 2025 earnings summary

Executive summary

• Comparable operating profit for Q2 2025 was EUR 26.2 million, down 15% year-over-year, mainly due to lower interest rates, but assets under management increased to EUR 15.9 billion, supported by positive net subscriptions and market developments.

• The Momentum acceleration programme is underway, targeting EUR 20 million in run-rate improvements by end-2025/2026, with EUR 4 million achieved so far and over 100 initiatives launched.

• Strategic focus on customer acquisition, growth in premium and private banking, and new sustainable fund launches.

• Carl Haglund was appointed CEO, with Anssi Huhta as interim CEO during the transition; key recruitments and management changes are ongoing.

• Employee net promoter score (eNPS) reached 29 and culture index was 4.3/5.

Financial highlights

• Total operating income for Q2 2025 was EUR 73.3 million, down 4% year-over-year; net interest income fell 11% to EUR 34.7 million, and net commission income was flat or down 2%.

• Net income from life insurance rose 9% year-over-year to EUR 8.0 million.

• Comparable operating expenses decreased by 1% to EUR 43.7 million, with IT expenses up 6% and other operating expenses up 13% due to non-recurring and marketing costs.

• Credit loss provisions increased to EUR 3.2 million, mainly from individual impairments.

• Dividend of EUR 0.82 per share paid for 2024, with a payout ratio of 79%.

Outlook and guidance

• Outlook for 2024 is unchanged; comparable operating profit for 2025 is expected to be lower than 2024’s EUR 124.5 million, mainly due to lower interest rates.

• Net interest income is projected to decline, net commission income to remain stable, and life insurance to develop steadily; operating expenses to rise slightly due to IT investments.

• Credit losses anticipated to stay moderate, though Finnish real estate sector uncertainty poses risk.