Bli medlem
Bli medlem

Du är här

2021-10-26

Bank of Åland Plc: Interim Report for the period January - September 2021


 

Bank of Åland Plc
Interim Report
October 26, 2021 9.00 am

Interim Report for the period January - September 2021

“We are continuing our strong growth in both Finland and Sweden. We have benefited from having continuously recruited new employees, and we have thus still had time to provide for both new and existing customers.

“All our volume metrics have reached new record levels. Over the 12-month period to September 30, 2021, actively managed assets grew to EUR 8,922 M (+36 per cent), deposits to EUR 3,836 M (+11 per cent) and lending to EUR 4,591 M (+9%), This positive volume trend has also generated our highest 9-month net operating profit ever, EUR 39.0 M, which was 42 per cent higher than during the corresponding period of last year.”

January – September 2021 compared to January – September 2020

  • Net operating profit increased by 42 per cent to EUR 39.0 M (27.4).

  • Net interest income increased by 5 per cent to EUR 46.0 M (44.0).

  • Net commission income increased by 20 per cent to EUR 57.6 M (47.9).

  • Total expenses increased by 15 per cent to EUR 89.5 M (77.8).

  •  Net impairment losses on financial assets (including recoveries) totalled EUR 1.4 M (4.9), equivalent to a loan loss level of 0.05 (0.16) per cent.

  • Return on equity after taxes (ROE) increased to 15.1 (10.8) per cent.

  • Earnings per share increased by 47 per cent to EUR 2.05 (1.39).

  • The common equity Tier 1 capital ratio decreased to 13.9 per cent (14.3 per cent on December 31, 2020).

  • Future outlook: The Bank of Åland expects its net operating profit in 2021 to be substantially better than in 2020.

The third quarter of 2021 compared to the third quarter of 2020

  • Net operating profit increased by 36 per cent to EUR 14.6 M (10.7).

  • Net interest income increased by 5 per cent to EUR 15.5 M (14.7).

  • Net commission income increased by 25 per cent to EUR 19.1 M (15.2).

  • Total expenses increased by 20 per cent to EUR 29.8 M (24.8).

  •  Net impairment losses on financial assets (including recoveries) totalled EUR 0.8 M (0.3), equivalent to a loan loss level of 0.07 (0.03) per cent.

  • Return on equity after taxes (ROE) increased to 16.7 (12.3) per cent.

  • Earnings per share increased by 41 per cent to EUR 0.77 (0.55).


Financial summary

...

GroupQ3 
2021
Q2 
2021
 %Q3
2020
 %Jan-Sep
2021
Jan-Sep
2020
%
EUR M        
Income         
Net interest income15.515.2214.7546.044.05
Net commission income19.118.9115.22557.647.920
Net income from financial items at fair value-1.7-0.6 0.6 -1.91.4 
Other income12.39.7275.3 28.216.868
Total income45.243.2435.826129.8110.018
         
Staff costs-17.1-18.5-8-15.312-53.1-46.115
Other expences-8.3-7.77-6.430-26.2-22.517
Depreciation/amortisation-4.3-2.949-3.139-10.2-9.210
Författare GlobeNewswire