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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Alandsbanken Abp | LSE:0O2N | London | Ordinary Share | FI0009001127 | AALANDSBANKEN CLASS B ORD SHS |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 14.225 | 12.45 | 16.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Commercial Banks, Nec | 200.86M | 48.67M | 3.1795 | 4.76 | 217.76M |
Bank of Åland Plc Half-Year Financial Report July 19, 2022 9:00 am
Half-Year Financial Report for the period January - June 2022 “A turbulent first half of 2022: with war in Ukraine, high inflation, rising interest rates and bond yields as well as plunging stock markets. Despite this turbulence, we have seen a continued stable net inflow of new customers and financial investment volumes, EUR +294 M. Adjusted for the divestment of most of our Swedish mortgage loan portfolio − about EUR 1 billion − lending grew by EUR 372 M during the first six months of this year.
“To summarise, it was a satisfactory first half. We will have to prepare ourselves for continued turbulence during the second half of 2022, but my perception is that the Bank of Åland will also take on the rest of the year with solid confidence.”
Peter Wiklöf, Managing Director and Chief Executive
January - June 2022 compared to January - June 2021
The second quarter of 2022 compared to the second quarter of 2021
Financial summary
Group | Q2 2022 | Q12022 | % | Q22021 | % | Jan-Jun 2022 | Jan-Jun 2021 | % |
EUR M | ||||||||
Income | ||||||||
Net interest income | 15.2 | 14.3 | 6 | 15.2 | 0 | 29.6 | 30.5 | -3 |
Net commission income | 21.2 | 20.2 | 5 | 18.9 | 12 | 41.5 | 38.5 | 8 |
Net income from financial items at fair value | -0.2 | 10.8 | -0.6 | -64 | 10.6 | -0.3 | ||
Other income | 7.1 | 5.7 | 23 | 9.7 | -27 | 12.8 | 15.9 | -20 |
Total income | 43.3 | 51.1 | -15 | 43.2 | 0 | 94.4 | 84.6 | 12 |
Staff costs | -19.1 | -18.9 | 1 | -18.5 | 3 | -37.9 | -36.0 | 5 |
Other expenses | -9.5 | -9.7 | -2 | -7.8 | 22 | -19.2 | -15.2 | 27 |
Statutory fees | 0.1 | -3.6 | 0.1 | 55 | -3.4 | -2.8 | 25 | |
Depreciation/amortisation | -3.3 | -3.4 | -3 | -2.9 | 13 | -6.7 | -5.8 | 14 |
Total expenses | -31.7 | -35.5 | -11 | -29.2 | 9 | -67.2 | -59.7 | 13 |
Profit before impairment losses | 11.6 | 15.6 | -26 | 14.1 | -18 | 27.2 | 25.0 | 9 |
Impairment losses on financial assets, net | -1.2 | -1.7 | -32 | -0.5 | -2.8 | -0.6 | ||
Net operating profit | 10.4 | 13.9 | -25 | 13.6 | -23 | 24.3 | 24.4 | 0 |
Income taxes | -2.1 | -2.9 | -27 | -2.4 | -11 | -5.0 | -4.5 | 9 |
Profit for the report period | 8.3 | 11.0 | -24 | 11.2 | -26 | 19.4 | 19.8 | -2 |
Attributable to: | ||||||||
Shareholders in Bank of Åland Plc | 8.3 | 11.0 | -24 | 11.2 | -26 | 19.4 | 19.8 | -2 |
Volume | ||||||||
Lending to the public | 4,145 | 3,936 | 5 | 4,518 | -8 | |||
Deposits from the public | 4,295 | 4,238 | 1 | 3,801 | 13 | |||
Actively managed assets 1 | 8,425 | 9,082 | -7 | 8,541 | -1 | |||
Managed mortgage loans 2 | 1,162 | 1,114 | 4 | |||||
Equity capital | 310 | 310 | 0 | 311 | 0 | |||
Balance sheet total | 5,943 | 5,950 | 0 | 6,261 | -5 | |||
Risk exposure amount | 1,893 | 1,805 | 5 | 1,870 | 1 | |||
Financial ratios | ||||||||
Return on equity after taxes, % (ROE) 3 | 11.9 | 15.0 | 16.4 | 13.4 | 14.4 | |||
Return on equity after taxes, % (ROE), moving 12-month average to end of report period | 13.6 | 14.7 | 13.7 | |||||
Expense/income ratio 4 | 0.73 | 0.69 | 0.67 | 0.71 | 0.71 | |||
Loan loss level, % 5 | 0.13 | 0.16 | 0.05 | 0.13 | 0.03 | |||
Gross share of loans in Stage 3, % 6 | 1.40 | 1.55 | 1.01 | |||||
Liquidity coverage ratio (LCR), % 7 | 114 | 132 | 152 | |||||
Net stable funding ratio (NSFR), % 8 | 116 | 121 | 110 | |||||
Loan/deposit ratio, % 9 | 96 | 93 | 119 | |||||
Common equtiy Tier 1 capital ratio, % 10 | 12.5 | 13.9 | 13.0 | |||||
Tier 1 capital ratio, % 11 | 14.0 | 15.5 | 14.6 | |||||
Total capital ratio, % 12 | 15.9 | 17.5 | 16.1 | |||||
Leverage ratio, % 13 | 4.3 | 5.0 | 4.8 | |||||
Earnings per share, EUR 14 | 0.54 | 0.71 | -24 | 0.72 | -25 | 1.25 | 1.27 | -2 |
Earnings per share, EUR, moving 12-month average to end of report period | 2.53 | 2.71 | -7 | 2.45 | 3 | |||
Equity capital per share, EUR 15 | 18.06 | 18.02 | 0 | 18.07 | 0 | |||
Working hours re-calculated to full-time equivalent positions | 843 | 836 | 1 | 825 | 2 | 838 | 807 | 4 |
1 Actively managed assets encompassed managed assets in the Group’s own mutual funds, as well as discretionary and advisory securities volume plus external funds with contractual earnings2 Total mortgage loan volume in Borgo AB that the Bank of Åland manages through various services3 Profit for the report period attributable to shareholders / Average shareholders´portion of equity capital4 Expenses / Income5 Impairment losses on loan portfolio and other commitments / Lending to the public at the beginning of the period"6 Share of loans in Stage 3 / Gross lending to the public7 LCR, assets at levels 1 and 2 / 30-day net cash outflow8 Available stable funding / Stable funding requirement9 Lending to the public / Deposits from the public10 Common equity Tier 1 capital / Risk exposure amount11 Tier 1 capital / Risk exposure amount12 Own funds / Risk exposure amount13 Tier 1 capital / Total exposure metric14 Shareholders’ portion of profit for the period / Average number of shares15 Shareholders’ portion of equity capital / Number of shares on closing day
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 Half-Year Financial Report for the period January – June 2022, which is enclosed with this stock exchange release. The Bank`s Half-Year Financial Report for the period January – June 2022 is attached to this release in PDF format and is also available on the company’s web site at
Mariehamn, July 19, 2022
THE BOARD OF DIRECTORS
For more information please contact:
Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland Plc, tel. + 358 (0)40 512 7505
Attachment
1 Year Alandsbanken Abp Chart |
1 Month Alandsbanken Abp Chart |
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