Aktia Bank Plc: IT-related one-off items burden the result in the fourth quarter 2024, but do not affect comparable result

Aktia Bank Plc
Insider information
12 February 2025 at 7.30 a.m.

Aktia Bank Plc: IT-related one-off items burden the result in the fourth quarter 2024, but do not affect comparable result

Aktia Bank Plc continues to invest in and upgrade its modern core banking system, which was commissioned in 2017. In connection with the system development work, Aktia has reassessed the asset values and depreciation periods of existing IT systems as of 31 December 2024. The assessment leads to an impairment of IT-related intangible assets of EUR 25.0 million as well as expensed IT licenses of EUR 1.4 million. The majority of the impairments is related to the core banking system.

The one-off items do not affect Aktia's comparable result and have only a marginal impact on Common Equity Tier 1 capital (CET1).

The Financial Statement Release for 2024 will be published on 12 February 2025 at 8.00 a.m.

Aktia Bank Plc

Further information:
Oscar Taimitarha, Director of Investor Relations, tel. +358 40 562 2315

Distribution:
Nasdaq Helsinki Oy
Mass media
www.aktia.com

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 internationally. We employ approximately 850 people around Finland. Aktia's assets under management (AuM) on 30 September 2024 amounted to EUR 14.3 billion, and the balance sheet total was EUR 12.0 billion. Aktia's shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.