Aktia Pankki (AKTIA) Q3 2026 earnings summary

Executive summary

• Q3 comparable operating profit fell 18% YoY to EUR 22.5m; 9M comparable profit rose 3% to EUR 84.8m, with underlying business described as steady.

• Gross AuM reached a record EUR 18.2bn, supported by EUR 124m of quarterly net sales and strong Private Banking demand.

Financial highlights

• Q3 comparable operating income was EUR 70.4m, down 4% YoY; comparable expenses rose 10% to EUR 46.5m, contributing to lower profit.

• Q3 net interest income was EUR 31.9m, down 6% YoY; 9M NII was EUR 97.0m, down 7%.

• Q3 net commission income was EUR 31.1m, flat YoY; 9M was EUR 96.0m, up 4%. Fund-related commission income rose 7% to EUR 18.5m.

• Q3 life insurance income was EUR 5.7m, down 30% YoY, mainly reflecting rate-driven volatility in run-off contracts.

• 9M reported operating profit rose 5% to EUR 78.8m; comparable operating profit rose 3% to EUR 84.8m.

Outlook and guidance

• FY 2026 comparable operating profit is expected at, or slightly above, FY 2025’s EUR 106.0m; guidance was unchanged.

• Asset management and life insurance are expected to develop positively; banking profit is expected to be slightly lower, with higher expenses.

• Fund, asset management and securities-brokerage commission income is expected to be somewhat higher; market uncertainty may weigh on commissions.

• Credit losses are expected to be significantly below 2025, partly reflecting the new ECL model; Finnish real estate uncertainty remains a risk.

• Q4 NII is expected to exceed Q3, with higher-rate benefits becoming more visible over time; market volatility may affect results.