Annual Review 2023
Read more
Continuing our journey to be the leading wealth manager bank
2023 did not bring the desired turn for the better; the same global political and economic uncertainties are still present. Still, our message to customers remained the same: only by thinking on a long-term basis, beyond these difficult times, can it be possible to prosper systematically. Aktia has been creating wealth and well-being for its customers and for the society for 200 years, and as a publicly listed company Aktia is already over 10 years old. We are the best partner for people, companies and organisations that value inner wisdom and responsible wealth creation.
Excellent year for Aktia despite an unstable operating environment
Aktia has continued to drive forward its wealth manager bank strategy with determination. In a challenging market, a business strategy based on three pillars – Banking, Asset Management and Life Insurance – provides stability and predictability. The rise in interest rates supported the increase in net interest income and contributed to Aktia’s strong result. The rise in interest rates also restored customers’ interest in fixed income investments, which strengthened the position of Aktia’s products among asset managers. The market uncertainty was reflected on the development of assets under management and commission income, but towards the end of the year the market picked up and the trend turned. The investment market has adapted to a new market environment where free money is no longer available and a new, more traditional market cycle has begun.
Aktia's strategy
Aktia’s strategy, which extends to 2025, supports Aktia’s growth objectives and guides the company towards the vision of being "the leading wealth manager bank". The growth strategy is built on offering comprehensive wealth management services through close collaboration between Aktia’s three business areas. A strong focus on wealth management is an essential part of all business activities across Aktia. The strategy has been implemented as planned, but the operating environment has become more uncertain. The strategy itself has remained the same, but in order to respond to changes, Aktia has refined the implementation of its strategy.
Sustainable Aktia
Sustainability is an essential part of Aktia's strategy and supports value creation for its stakeholders. For Aktia, sustainability means both corporate responsibility and the integration of ESG into business operations. During 2023, we managed to achieve several of our climate-related targets, which drive our climate work forward and support the transition towards a more sustainable economy and environment. We launched our first green loan product, green mortgage, as well as two new sustainable funds, Aktia Aurinkotuuli III and Aktia Sustainable Government Bond. In 2023, we also launched a new HR strategy that focuses on improving employee engagement and supporting our work towards achieving our goal of being a responsible employer.
Key figures 2023
287.2
Comparable operating income
174.2
Comparable operating expenses
104.8
Comparable operating profit