Bank of Åland Plc: Interim Report for the period January - September 2024

 Bank of Åland PlcInterim ReportOctober 24, 2024 9.00 EET Interim Report for the period January - September 2024 “We are reporting our best nine-month operating profit ever, at EUR 49.8 million (41.5), which generated a return on equity after taxes of 18.4 per cent (15.7). “It has been nearly a year since market interest rates reached their highest levels, and we can see that declining market interest rates are negatively impacting net interest income. However, because of rising...

Mariehamn, 24/10/2024 (informazione.it - comunicati stampa - servizi)

 

Bank of Åland Plc
Interim Report
October 24, 2024 9.00 EET

Interim Report for the period January - September 2024

“We are reporting our best nine-month operating profit ever, at EUR 49.8 million (41.5), which generated a return on equity after taxes of 18.4 per cent (15.7).

“It has been nearly a year since market interest rates reached their highest levels, and we can see that declining market interest rates are negatively impacting net interest income. However, because of rising activity levels within our financial investment operations and our IT operations, net commission income and IT income during the quarter together rose more than the decline in net interest income. Our core income in the form of net interest income, net commission income and IT income thus increased by EUR 0.6 M or 1 per cent compared to the same quarter of 2023, reaching EUR 52.7 M (52.1).

“Hopefully, falling market interest rates will lead to a continued surge in activity levels in our society.”

Peter Wiklöf, Managing Director and Chief Executive

January-September 2024 compared to January-September 2023

The third quarter of 2024 compared to third quarter of 2023

Financial summary

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 Interim Report for the period January – September 2024, which is enclosed with this stock exchange release.

The Bank`s Interim Report for the period January – September 2024 is attached to this release in PDF format and is also available on the company's web site at

https://www.alandsbanken.com/uploads/pdf/result/en_resultat_jan-sep_24.pdf

Mariehamn, October 24, 2024

THE BOARD OF DIRECTORS

For more information please contact:

Peter Wiklöf, Managing Director and Chief Executive, Bank of Åland, tel. + 358 (0)40 512 7505

 

 

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