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Alisa Bank - Figures quite as expected

Alisa Bank’s H1 profitability was in line with our expectations, with PTP at EUR -2.0m (Evli EUR -2.1m), and the report brought with it no notable surprises. 

  • Total income during H1/24 amounted to EUR 7.7m (Evli EUR 8.0m). Net interest income amounted to EUR 7.2m (Evli EUR 6.9m) and net fee and commission income to EUR 0.4m (Evli EUR 1.0m). 
  • Supported by the combination with Puro Finance, the loan portfolio of business financing increased by the end of June by 62 percent to EUR 66 m. In personal customers, the loan portfolio decreased by 4 percent being EUR 126 m.
  • The loan portfolio (before expected credit losses) at the end of H1 amounted to EUR 192.6m (Evli EUR 190m), up 11% y/y. The deposit base amounted to EUR 508.5m (Evli EUR 414m), up 89% y/y.
  • The pre-tax profit during H1 amounted to EUR -2.0m (Evli EUR -2.1m). The adj. PTP amounted to EUR -1.0m (Evli EUR -0.9m). Total OPEX amounted to EUR 6.4m (Evli EUR 7.1m). 
  • Earnings per share amounted to EUR -0.02 compared with our estimate of EUR -0.02.
  • CET1 and the CET1 ratio amounted to EUR 18.9m and 11.6% and total capital ratio to 14.0% 
  • The cost / income ratio amounted to 84%.
  • Outlook for 2024: When the financial goals of the combination with PURO Finance Ltd are fully realised both on the income and expenses side, total income will increase in 2024 compared to 2023 and profit before one-off items and taxes for the financial year 2024 is estimated to be slightly profitable (EUR 0.5–1.5 m). 
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