Aktia Pankki Oyj revised earnings guidance for the year 2022. New outlook for 2022: Aktia's comparable operating profit in 2022 is expected to be lower than in 2021. A key uncertainty related to the realisation of the outlook is the development of the market value of different asset classes.

Previous outlook for 2022: Aktia's comparable operating profit in 2022 is expected to be approximately at the same level as in 2021. The exceptional economic situation, which has marked the whole year 2022, continued during the third quarter. The decline on the equity market and the rise in interest rates continued, and market values of different asset classes decreased across the board.

Despite the increased returns from lending and lower costs than in previous quarters, Aktia's full year result will fall short of last year, as the market outlook for the rest of 2022 is still very uncertain. Despite the positive net subscriptions, the falling equity market and the rising interest rates continued to weigh down the market values of Aktia's assets under management and the investment portfolio of the life insurance company, which led to a weaker than expected development in commission income and net income from life insurance. The banking business has developed well during the year and the strong rise in interest rates increased Aktia's returns from lending during the third quarter.

However, according to expectations the net interest income will not yet increase significantly during 2022, as the rise of the bank's funding and hedging costs decreases the effect of the increase in return from lending on net interest income. The net impact of the rise in interest rates on net interest income is expected to be considerably positive during next year. The credit loss provisions were still at a moderate level.