Q3 2024 Aktia Bank Abp Earnings Call Transcript
Key Points
- Aktia Bank PLC (FRA:2A41) reported a 2% increase in comparable operating income compared to the same quarter last year.
- The bank achieved a strong return on equity of 15% and a cost-to-income ratio of 0.56, indicating efficient operations.
- Assets under management increased due to positive net subscriptions and favorable market movements.
- The life insurance business performed exceptionally well, with a 74% increase in net income from life insurance compared to last year.
- Employee and customer satisfaction improved significantly, with Aktia climbing the most in the Finnish financial sector rankings.
- Net interest income decreased by 7% compared to the previous year, primarily due to a technical error in corporate accounts.
- The total loan book decreased slightly due to amortization, despite growth among premium and private banking customers.
- There was a 6% decline in deposits year-to-date, attributed to macroeconomic factors and less attractive term deposits.
- Comparable operating expenses increased by 5% from last year, driven by investments in IT.
- The net interest income margin decreased significantly quarter-to-quarter, raising concerns about future performance.
A very good morning, everyone and welcome to Aktia's Q3 result Brief Aktia's Investor Relations.
As we all know the biggest piece of news this morning is of course Aktia's Q3 report, that's indeed a solid result. As usual Aktia's, CEO, Aleksi Lehtonen and our Interim CFO Karri Varis will go through the results.
And after the temptations, we are happy to answer your questions.
If you are following us online, please feel free to write your questions in the comments field. So let us move on Aleksi. Please welcome.
Thank you, Oscar, and welcome on my behalf as well. I'm happy to go through this result presentation today together with our interim CF and now let us have a look at the Q3 highlights our comparable of million Euros, which is in fact, well, in line with the two previous quarters this year, the current level is also 2% higher than in the third quarter last year, which was
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