Bank of Åland Plc: Interim Report for the period January - September 2023
Bank of Åland Plc
October 24, 2023 9.00 EET
Interim Report for the period January - September 2023
“We delivered a very strong third quarter, where net operating profit climbed by 72 per cent to EUR 19.1 M from the corresponding quarter of last year. The improvement in earnings was driven primarily by rising net interest income.
“We expect that the upturn in interest rates that has benefited our net interest income in recent quarters will now fade and that we will see a stabilisation in interest rates. Despite rising interest rates, we are not yet seeing any deterioration in the quality of our loan portfolio.”
Peter Wiklöf, Managing Director
January−September 2023 compared to January−September 2022
- Net operating profit increased by 17 per cent to EUR 41.5 M (35.5). Excluding a divestment gain in the year-earlier period, net operating profit increased by 62 per cent to EUR 41.5 M (25.7).
- Core income in the form of net interest income, net commission income and IT income increased by 16 per cent to EUR 146.4 M (125.8).
- Other income, which included a divestment gain in the year-earlier period, decreased by 98 per cent to EUR 0.3 M (11.3).
- Total expenses increased by 6 per cent to EUR 103.1 M (97.7).
- Net impairment losses on financial assets (including recoveries) totalled EUR 2.0 M (4.0), equivalent to a loan loss level of 0.06 per cent (0.12).
- Return on equity after taxes (ROE) increased to 15.7 per cent (13.1, but 9.8 excluding a divestment gain).
- Earnings per share decreased by 17 per cent to EUR 2.13 (1.82).
- The common equity Tier 1 capital ratio increased to 14.0 per cent (12.0 on December 31, 2022).
- Unchanged future outlook: The Bank of Åland expects its net operating profit in 2023 to be significantly better than in 2022.
The third quarter of 2023 compared to the third quarter of 2022
- Net operating profit increased by 72 per cent to EUR 19.1 M (11.1).
- Core income in the form of net interest income, net commission income and IT income increased by 23 per cent to EUR 52.1 M (42.5).
- Other income, including negative net income on financial items, amounted to EUR -0.9 M (0.2).
- Total expenses increased by 3 per cent to EUR 31.5 M (30.5).
- Net impairment losses on financial assets (including recoveries) totalled EUR 0.7 M (1.1), equivalent to a loan loss level of 0.06 per cent (0.11).
- Return on equity after taxes (ROE) increased to 21.6 per cent (12.4).
- Earnings per share increased by 73 per cent to EUR 0.99 (0.57).
|Net interest income||27.9||24.2||15||18.9||47||71.8||48.5||48|
|Net commission income||17.8||18.2||-3||18.6||-4||54.3||60.0||-9|
|Profit before impairment losses||19.8||15.2||30||12.2||61||43.5||39.4||10|
|Impairment losses on financial assets, net||-0.7||-1.0||-31||-1.1||-39||-2.0||-4.0||-49|
|Net operating profit||19.1||14.2||34||11.1||72||41.5||35.5||17|
|Profit for the period||15.1||11.3||34||8.9||71||32.6||28.3||15|
|Shareholders in Bank of Åland Plc||15.1||11.3||34||8.9||71||32.6||28.2||15|
|Lending to the public||3,777||4,274||-12||4,241||-11|
|Deposits from the public||3,553||3,700||-4||4,207||-16|
|Actively managed assets||8,982||9,010||0||8,212||9|
|Managed mortage loans||2,600||2,050||27||1,195|
|Balance sheet total||5,196||5,701||-9||6,145||-15|
|Risk exposure amount||1,741||1,882||-7||1,967||-11|
The Bank of Åland (Ålandsbanken) follows the disclosure procedure stipulated in "Disclosure obligation of the issuer (7/2013)", published by the Finnish Financial Supervisory Authority and hereby publishes its Interim Report for the period January – September 2023, which is enclosed with this stock exchange release. The Bank`s Interim Report for the period January – September 2023 is attached to this release in PDF format and is also available on the company’s web site at https://www.alandsbanken.com/uploads/pdf/result/en_resultat_jan-sep_23.pdf
Mariehamn, October 24, 2023
THE BOARD OF DIRECTORS
For more information please contact:
Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland, tel. + 358 (0)40 512 7505
AttachmentTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
About GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire by notified
Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire by notified
VALOE EXTENDS THE SUBSCRIPTION PERIOD OF THE CONVERTIBLE BOND 1/202330.11.2023 15:15:00 CET | Press release
Valoe Corporation Stock Exchange Release 30 November 2023 at 16.15 (Finnish time) The Board of Directors of Valoe Corporation has resolved to extend the subscription period of the Convertible Bond 1/2023 disclosed on 14 July 2023 until 29 December 2023 at 6.00 pm. In Mikkeli on 30 November 2023 Valoe Corporation BOARD OF DIRECTORS For more information: CEO Iikka Savisalo, Valoe Corporation tel. +358 40 521 6082 email: firstname.lastname@example.org Distribution: Nasdaq Helsinki Oy Main media www.valoe.com Valoe Corporation specializes in the clean energy, especially in photovoltaic solutions. Valoe provides PV technology based on its own back contact technology and related projects, project design and technology consulting. Valoe also provides manufacturing technology for PV modules, module manufacturing lines, modules and key components for modules, as well as IBC solar cells manufactured at the Company’s factory in Lithuania. Valoe is headquartered in Mikkeli, Finland, with production faci
Scatec awarded battery storage project for 103 MW in government tender in South Africa30.11.2023 14:53:04 CET | Press release
Oslo, 30 November 2023: Scatec ASA has been awarded preferred bidder status for the Mogobe (Ferrum) battery energy storage project totalling 103 MW/ 412 MWh under the first bid window of the Battery Energy Storage Independent Power Producer Procurement Programme (BESIPPPP) in South Africa, by the Department of Mineral Resources and Energy. Scatec will dispatch power under a 15-year power purchase agreement (PPA). “This marks another significant achievement for Scatec in South Africa and for the renewable energy transition in the country. Today’s award reaffirms our standing as a leading renewable energy player in South Africa. We applaud the South African government’s commitment and dedication to the battery storage procurement programme,” says Scatec CEO Terje Pilskog. Building on the experience garnered from our hybrid solar and battery storage projects at Kenhardt, we have established ourselves as a frontrunner in the dispatchable renewable energy landscape of South Africa and the A
Correction: New terms for DK0009414252 only english version30.11.2023 14:47:05 CET | Press release
To Nasdaq Copenhagen A/S 30th November 2023 Announcement no. 111/2023 Final terms for bonds to be listed 5thDecember 2023 On 5th December 2023, Jyske Realkredit A/S will be listing new Covered Bonds (SDO). Final terms for the bonds are attached to this announcement. The full prospectus for the Bond consist of the attached final terms and the previously disclosed ”Base Prospectus for the issue of Covered Bonds (SDO), Mortgage bonds (“RO”) and Mortgage Bonds (RO) and bonds issued pursuant to Section 15 of the Danish Mortgage-Credit Loans and Mortgage-Credit Bonds etc. Act (Section 15 Bonds).”, dated June 29th, 2023. Jyske Realkredit’s base prospectus is available on Jyske Realkredit’s home page jyskerealkredit.com Yours sincerely, Jyske Realkredit A/S www.jyskerealkredit.com Please observe that the Danish version of this announcement prevails. Attachments DK0009414096 - Final terms series 1 321.E.ok.25 IT1DK0009414179 - Final terms series 1 321.E.26 IT1DK0009414252 - Final terms series 1
Correction: Kun korrektion i den engelske version30.11.2023 14:47:05 CET | pressemeddelelse
, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Til Nasdaq Copenhagen A/S 30. november 2023 Meddelelse nr. 111/2023 Endelige vilkår for nye obligationer der noteres den 5. december 2023 Jyske Realkredit noterer den 5. december 2023 nye Særligt Dækkede Obligationer (SDO). Med denne meddelelse følger de endelige vilkår for obligationerne. Det samlede prospekt for obligationerne består af vedlagte endelige vilkår og det tidligere offentliggjorte ”Basisprospekt for udstedelse af Særligt Dækkede Obligationer (SDO), Realkreditobligationer (RO) og obligationer i medfør af § 15 i lov om realkreditlån og realkreditobligationer m.v. (§ 15 Obligationer)”, dateret 29. juni 2023. Jyske Realkredits basisprospekt er tilgængeligt på Jyske Realkredits hjemmeside jyskerealkredit.dk. Venlig hilsen Jyske Realkredit www.jyskerealkredit.dk Vedhæftede filer DK0009414252 - Endelige vilkår serie 1 321.E.EUR.26 IT1DK0009414096 - Endelige vilkår serie 1 321.E.ok.25 IT1DK0009414179 - Endelige vilkår serie 1 321.E.26 IT1
FRO – Q3 2023 Presentation30.11.2023 14:40:31 CET | Press release
Please find enclosed the presentation of Frontline plc´s third quarter 2023 results to be held on the webcast / conference call 30 November, 2023 at 15:00 CET. This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act. Attachment Presentation Q3 2023