Aktia Pankki (AKTIA) Q2 2026 earnings summary

Executive summary

• Comparable operating profit reached EUR 43.7 million in Q2 2026, up 67% year-over-year, supported by strong fund and life insurance income, lower credit losses, and one-off model changes.

• Assets under management (AUM) hit a record EUR 18.1 billion, up 13% year-over-year, driven by EUR 376 million in net subscriptions and robust international sales.

• Net commission income rose 7% year-over-year to EUR 32.5 million, mainly from higher fund income.

• Credit losses improved by EUR 10 million, with a positive EUR 6.8 million result due to the new ECL model and reduced impairments.

• Strategic progress included the completion of the Momentum program, strong employee engagement, and successful international expansion in asset management.

Financial highlights

• Total operating income was EUR 82.1 million, up 12% year-over-year and 27% sequentially.

• Net interest income was EUR 33.1 million, down 5% year-over-year but up 3% from Q1.

• Net income from life insurance surged 75% year-over-year to EUR 14.1 million.

• Comparable earnings per share (EPS) rose 64% year-over-year to EUR 0.46.

• Comparable return on equity (ROE) was 21.5%, up from 12.1% a year ago.

Outlook and guidance

• Comparable operating profit for 2026 is expected to be at or slightly above EUR 106 million reported in 2025.

• Asset management and life insurance are projected to develop positively, with higher commission income and improved insurance results.

• Banking business results and net interest income are expected to be slightly lower due to lower market rates.

• Operating expenses will rise due to IT investments and general cost increases.

• Credit losses are forecasted to be significantly lower, though uncertainty in the Finnish real estate sector remains a risk.