News

Ålandsbanken Abp: year-end Report for the period January–december 2017

Mariehamn, 2018-02-13 08:00 CET (GLOBE NEWSWIRE) —

 

Ålandsbanken Abp

Year-end report

13.2.2018 there is a 9.00

Year-end report for the period January–december 2017

 

“In 2017, we saw a continued solid customer growth in all markets, and we improve the result after taxes by 5 percent (20.7 million euros). The single most positive part of our volume increase can be seen in the marked growth in customer placeringsvolymer (+47%). With these increased volumes, there is also a clearly improved net fee and commission income. Our costs rose relatively sharply during the year (+9%), which were largely driven by the project costs related to the launch of a new IT platform in the kapitalmarknadssidan and continued employment in order to develop our kundaffär.

The digitisation and sustainability issues have an increasingly important role in the financial services industry. Bank of åland plc is well positioned in both areas but has also chosen to continue to offer customers the opportunity to a personal meeting with their dedicated advisor, an option that is available to fewer and fewer customers in other banks.”

Peter Wiklöf, Managing Director

 

January – december 2017 compared with the January – december 2016

  • Operating profit increased by 4% to 26,0 million (a 25.1).

     

  • Net income attributable to shareholders increased by 5 per cent to 20.7 million euros (19,7).

     

  • Net interest income increased 1% to 55,9 million euro (55,1).

     

  • Net fee and commission income increased by 11 per cent to 49.7 million (eur 44.9 million).

     

  • Costs increased by 9 percent to 99.8 million euros (91,3).

     

  • Impairment of loans (net including recoveries) amounted to 2.1 million euros (4,1), corresponding to a loan loss ratio of 0.06% (0,11).

     

  • The return on equity after tax (ROE) amounted to 9.1 percent (9.1).

     

  • Earnings per share amounted to 1.35 euros (1,29).

     

  • Kärnprimärkapitalrelationen calculated without transitional rules amounted to 12.9 percent (to 11.8).

     

  • The board of directors proposes a dividend of eur 0.65 per share (0.60).

     

  • Prospects: the Operating profit for the year 2018 is expected to be in level with or better than 2017.

The fourth quarter of 2017 compared with the fourth quarter of 2016

  • Operating profit increased by 3% to eur 6.5 million (6,3).

     

  • Net income attributable to shareholders increased by 5% to sek 5.2 million (eur 4.9 m).

     

  • Net interest income increased by 1 per cent to 14.1 million (14.0).

     

  • Net fee and commission income increased by 3% to eur 12.6 million (12.2 in).

     

  • Costs increased by 6 per cent to 25.3 million euros (23,8).

     

  • Impairment of loans (net including recoveries) amounted to eur 0.6 million (eur 1,0), corresponding to a loan loss ratio of 0.06% (0,11).

     

  • The return on equity after tax (ROE) amounted to 8.8 percent (8.9).

     

  • Earnings per share amounted to eur 0.34 (0,32).

 

Financial summary

1. Deposits from the public and public sector entities, incl. certificates of deposit, index bonds and debentures issued to the public

2. Active aum includes aum in own funds as well as discretionary and advisory värdepappersvolym

3. The loss for the period attributable to shareholders / Shareholders ‘ share of equity average

4. Costs / Revenues

5. Impairment of loans and other commitments / Lending to the public at the beginning of the period

6. Impaired loans, gross / Lending to the public prior to the reserved impairment

7. Reserved individual impairment losses / Doubtful receivables, gross

8. Loans to the public / Deposits including. certificates of deposit, index bonds and debentures issued to the public and issued covered bonds

9. Shareholders ‘ equity / total Assets

10. (Core / Capital requirement) x 8 %

11. The shareholders ‘ share of profit for the financial period / average Number of shares

12. The shareholders ‘share of shareholders’ equity / Number of shares with deduction of own shares at the balance sheet date

Ålandsbanken Abp follows publiceringsförfarandet as the Swedish financial supervisory authority Regulations and guidelines 7/2013 Disclosure requirements for issuers, facilitates and publishes as an appendix to this stock exchange release financial results for the period January – december 2017. Ålandsbanken Abp:s year-end report for the period January – december 2017 are also available on our website:

https://www.alandsbanken.fi/uploads/pdf/result/sw_resultat_jan-dec_17.pdf

For more information, please contact:

Peter Wiklöf, managing director and ceo, tel.+358 40 512 7505