Profit warning: Aktia lowers its outlook for 2022

    Profit warning: Aktia lowers its outlook for 2022 

Aktia Bank PlcInsider information15 July 2022 at 2.30 p.m.

Profit warning: Aktia lowers its outlook for 2022

The decline in the equity market and increasing interest rates have made the market environment particularly challenging during the first half of the year. Despite the positive net subscriptions, the assets under management (AuM) have reduced during the second quarter due to the negative value changes. The market value of the life insurance company's investment portfolio has also declined. As the market outlook for the rest of the year remains uncertain, Aktia has decided to lower its outlook for 2022.

New outlook for 2022

Aktia's comparable operating profit in 2022 is expected to be approximately at the same level as in 2021. The key uncertainties related to the realisation of the outlook include the development of the interest rate and equity markets as well as the general economic situation.

Previous outlook for 2022

Aktia's comparable operating profit in 2022 is expected to be somewhat higher than in 2021 provided that the market development is favourable and the circumstances in society remain stable.

In 2021, Aktia's comparable operating profit was EUR 87.4 million.

Aktia publishes its half-year report on 5 August 2022.

AKTIA BANK PLC

Further information:

Outi Henriksson, CFO, tel. [phone]Lotta Borgström, Director, Investor Relations and Communications, tel. [phone], lotta.borgstrom (at) aktia.fi

Distribution:Nasdaq Helsinki LtdMass mediawww.aktia.com

Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds also internationally. We employ approximately 900 people around Finland. Aktia's assets under management (AuM) 31.12.2021 amounted to EUR 15.5 billion and the balance sheet total was EUR 11.7 billion. Aktia's shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.