Aktia Bank Plc
16 May 2022 at 3.40 p.m.
Letter of intent has been signed on the sale of Aktia Life Insurance Ltd’s real estate investment, estimated capital gains of more than EUR 10 million
Aktia Life Insurance Ltd, a subsidiary of Aktia Bank Plc, is an investor in a real estate investment company, the sale of which has been subject to a letter of intent. It is estimated that the transaction will be executed during the second quarter of the year. As a result, Aktia Life Insurance Ltd would record estimated capital gains of more than EUR 10 million in its investment portfolio. The execution of the transaction or, in case of a delay, the unrealised value change, will have a direct impact on Aktia Group’s result. The net income from life insurance will continue to depend on the changes in market values. Aktia will report the value changes in the net income from life insurance in the half-year report, which will be published on 5 August 2022.
The capital gains or any unrealised value change recorded from the arrangement does not change Aktia’s outlook according to which the comparable operating profit in 2022 is expected to be somewhat higher than in 2021.
Aktia Bank Plc
Outi Henriksson, CFO, tel. +358 10 247 6236
Lotta Borgström, Head of Investor Relations and Communications, tel. +358 10 247 6838, lotta.borgstrom (at) aktia.fi
Nasdaq Helsinki Ltd
Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds also internationally. We employ approximately 900 people around Finland. Aktia’s assets under management (AuM) 31/12/2021 amounted to EUR 15.5 billion and the balance sheet total was EUR 11.7 billion. Aktia’s shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com