Alisa Pankki (ALISA) investor relations material

Executive summary

• Focus shifted to SME financing, with invoice financing volumes up over 20% year-over-year and a 43% increase in the invoice financing loan portfolio to €42.1 million.

• Retail banking business wind-down continued, reducing the retail loan portfolio by 28% since year start and 91% year-over-year.

• CEO transition: Aki Gynther appointed CEO in June 2026, with other key management changes to support growth and risk management.

• Partner network expanded, generating 46% more sales leads year-over-year.

Financial highlights

• Net interest income fell 35% year-over-year to €4.3 million due to retail banking exit; total income was €4.7 million (down from €7.4 million).

• Profit before non-recurring items and taxes was €-1.5 million (vs. €-1.4 million year-over-year); profit before taxes was €-1.8 million.

• Operating expenses decreased 6% to €6.2 million, despite €0.3 million in non-recurring employment termination costs.

• Net credit losses dropped 87% to €-0.3 million, and non-performing exposures fell 43% to €3.2 million.

• Cost-to-income ratio rose to 133% (from 90% year-over-year).

• ROE was -10.8% (vs. -9.1% year-over-year).

Outlook and guidance

• Strategy remains focused on SME growth financing and partner network expansion.

• Profit before non-recurring items and taxes expected to turn positive in the second half of 2026.

• Medium-term targets: 20% average annual income growth, ROE >15% by 2027, cost-to-income ratio <50%, and capital adequacy ratio of 16%.