Alisa Pankki (ALISA) Q4 2025 earnings summary

Executive summary

• Strategic exit from consumer lending completed in December 2025, with a significant portion of the portfolio sold, resulting in a one-off gain of EUR 2.4 million and a one-off write-down of EUR 0.8 million in capitalized development costs.

• Focus shifted to SME banking and invoice financing, with strengthened sales and marketing and new partnerships, including a cooperation agreement with Nordea.

• Operating income decreased to EUR 14.9 million from EUR 17.0 million year-over-year, while operating expenses increased to EUR 13.7 million from EUR 12.8 million.

• Profit before taxes was EUR -2.1 million (2024: EUR -1.3 million), and profit before non-recurring items and taxes was EUR -3.4 million (2024: EUR -0.1 million).

Financial highlights

• Net interest income fell to EUR 12.3 million (2024: EUR 15.1 million), mainly due to the reduction and sale of the consumer loan portfolio.

• Net commission income decreased to EUR 1.4 million (2024: EUR 1.8 million).

• Realized and expected credit losses dropped to EUR 3.3 million (2024: EUR 5.5 million).

• Cost-to-income ratio rose to 92% (2024: 75%).

• Return on equity (ROE) was -5.9% (2024: -3.9%).

• Loan portfolio shrank to EUR 58.9 million (2024: EUR 149.5 million); deposits decreased to EUR 256.5 million (2024: EUR 394.6 million).

Outlook and guidance

• 2026 focus is on growing SME financing volumes and expanding SME banking services through partner channels.

• Withdrawal from consumer business will further reduce income, expenses, and credit losses in 2026.

• Profit before non-recurring items and taxes expected to remain negative in H1 2026, with profitability improvement and a positive result anticipated in H2 2026.