Bank of Åland’s net operating profit better than last year

Bank of Åland Plc
Stock Exchange Release
October 8, 2019 9.00 a.m.

Bank of Åland’s net operating profit better than last year
On February 8, 2019, when the 2018 Year-end Report of the Bank of Åland (Ålandsbanken) was published, the Bank announced its future outlook for 2019. At that time, the Bank of Åland expected its 2019 net operating profit to be at about the same level as in 2018, in other words at about the same level as EUR 29.0 M.

Based on preliminary accounting data for the first nine months of this year, the Bank of Åland is revising its future outlook for the full year 2019. Net operating profit in the third quarter preliminarily amounted to about EUR 9.5 M, and net operating profit in the first nine months of the year preliminarily amounted to about EUR 24.1 M.

The Bank of Åland will publish its Interim Report for January-September 2019 at 9.00 a.m. Finnish time on October 23, 2019.

REVISED FUTURE OUTLOOK
The Bank of Åland expects its 2019 net operating profit to be better than or at about the same level as in 2018.

The Bank of Åland is especially dependent on developments in the fixed income and stock markets. There is concern about the economic trends in various important markets. For this reason, there is some uncertainty in our current forecast of the future.

PREVIOUSLY COMMUNICATED FUTURE OUTLOOK
The Bank of Åland expects its net operating profit in 2019 to be at about the same level as in 2018.

The Bank of Åland is especially dependent on developments in the fixed income and stock markets. There is concern about the economic trends in various important markets. For this reason, there is significant uncertainty in our current forecast of the future.

For further information, please contact:
Peter Wiklöf
Managing Director and Chief Executive, Bank of Åland Plc                                 
Tel: +358 40 512 7505