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Equity research
Alisa Bank intends to sell the majority of its consumer loan portfolio. Proceeds should reasonably be used to accelerate business lending growth, organically and inorganically, to fill the gap from lost income.
Alisa Bank announced a collaboration with Nordea, to provide financing services for its entrepreneur clients. The collaboration is in our view significant through the credibility gained and growth of addressable market.
Alisa Bank’s H1 was slightly weaker than expected. We remain cautious on near-term development but note good profitability potential should market conditions improve and growth investments yield more results.
Alisa Bank issued a profit warning, with continued weaker demand driving lower volumes. 2025 PTP excl. NRI’s is expected to be negative, a notable decrease from the bank’s previous expectations.
Alisa Bank’s H2 was in line with our expectations on profitability while growth was more constrained than anticipated by loan volume declines in H2. Earnings are seen to increase notably in 2025, but the volume outlook remains on the cautionary side.
Alisa Bank’s H2 financials corresponded to our expectations, although NII and subsequently total income fell slightly short. H2 saw the loan portfolio decline notably from H1. The adj. PTP as expected turned positive. Alisa Bank estimates that the bank’s operating result will continue to develop positively during 2025.
Alisa Bank reports its H2 results on February 14th. With the profit warning issued in December we keep our estimates intact. While heading into 2025 with somewhat cautious expectations, we still expect improvements in total income and profitability, with further upside from potential improvements in market conditions.
Alisa Bank issued a profit warning for 2024, lowering expectations for total income and profitability due to the prolonged market uncertainty.
Alisa Bank’s H1 results were weak, as expected, but gave further confirmation of the profit levels to be expected going forward after the combination with PURO Finance.
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.
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ALISA BANK PLC MANAGER TRANSACTIONS 5.11.2025 AT 14.40 EET
Person subject to the notification requirement
Name: Sampsa Laine
Position: Other senior management
Issuer: Alisa Pankki Oyj
LEI: 743700VK1NB8HRGTQH74
Notification type: INITIAL NOTIFICATION
Reference number: 129073/6/4
Transaction date: 2025-11-03
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI4000170915
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 254110 Unit price: 0.199 EUR
(2): Volume: 4925 Unit price: 0.199 EUR
(3): Volume: 3325 Unit price: 0.199 EUR
(4): Volume: 5150 Unit price: 0.199 EUR
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(8): Volume: 5150 Unit price: 0.199 EUR
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(10): Volume: 5150 Unit price: 0.199 EUR
(11): Volume: 31568 Unit price: 0.199 EUR
(12): Volume: 5150 Unit price: 0.199 EUR
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(14): Volume: 5150 Unit price: 0.199 EUR
(15): Volume: 285 Unit price: 0.199 EUR
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(17): Volume: 4596 Unit price: 0.1955 EUR
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(19): Volume: 4820 Unit price: 0.197 EUR
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(43): Volume: 5150 Unit price: 0.199 EUR
(44): Volume: 691 Unit price: 0.1985 EUR
(45): Volume: 50 Unit price: 0.1985 EUR
(46): Volume: 5357 Unit price: 0.1985 EUR
(47): Volume: 3633 Unit price: 0.198 EUR
(48): Volume: 5500 Unit price: 0.198 EUR
(49): Volume: 1163 Unit price: 0.1975 EUR
(50): Volume: 2000 Unit price: 0.196 EUR
Aggregated transactions
(50): Volume: 500 000 weighted average price: 0.1989 EUR
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC MANAGER TRANSACTIONS 5.11.2025 AT 14.15 EET
Person subject to the notification requirement
Name: Svartbäck Holding Oy
Position: Other senior management
(X) Legal person
(1): Person Discharging Managerial Responsibilities in Issuer
Name: Joonas Heinonen
Position: Other senior management
Issuer: Alisa Pankki Oyj
LEI: 743700VK1NB8HRGTQH74
Notification type: INITIAL NOTIFICATION
Reference number: 129065/4/4
Transaction date: 2025-11-03
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI4000170915
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 400 000 Unit Price: 0.20000 EUR
Aggregated transactions
(1): Volume: 400 000 weighted average price: 0.20000 EUR
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC MANAGER TRANSACTIONS 5.11.2025 AT 14.10 EET
Person subject to the notification requirement
Name: WRCC Invest Oy
Position: Member of the Board/Deputy member
(X) Legal person
(1): Person Discharging Managerial Responsibilities in Issuer
Name: Tero Weckroth
Position: Member of the Board
Issuer: Alisa Pankki Oyj
LEI: 743700VK1NB8HRGTQH74
Notification type: INITIAL NOTIFICATION
Reference number: 128947/4/4
Transaction date: 2025-11-03
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI4000170915
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 100.000 Unit Price: 0.19900 EUR
Aggregated transactions
(1): Volume: 100.000 weighted average price: 0.19900 EUR
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC MANAGER TRANSACTIONS 5.11.2025 AT 14.05 EET
Person subject to the notification requirement
Name: Karri Haaparinne
Position: Member of the Board/Deputy member
Issuer: Alisa Pankki Oyj
LEI: 743700VK1NB8HRGTQH74
Notification type: INITIAL NOTIFICATION
Reference number: 129226/5/4
Transaction date: 2025-11-04
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI4000170915
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 100000 Unit price: 0.188 EUR
(2): Volume: 162433 Unit price: 0.1895 EUR
Aggregated transactions (2):
Volume: 262433 Volume weighted average price: 0.18893 EUR
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC MANAGER TRANSACTIONS 5.11.2025 AT 14.00 EET
Person subject to the notification requirement
Name: Tero Weckroth
Position: Member of the Board/Deputy member
Issuer: Alisa Pankki Oyj
LEI: 743700VK1NB8HRGTQH74
Notification type: INITIAL NOTIFICATION
Reference number: 128936/4/4
Transaction date: 2025-11-03
Venue: NASDAQ HELSINKI LTD (XHEL)
Instrument type: SHARE
ISIN: FI4000170915
Nature of transaction: ACQUISITION
Transaction details
(1): Volume: 233 055 Unit Price: 0,19500 EUR
(2): Volume: 40 000 Unit Price: 0,19900 EUR
(3) Volume: 100 000 Unit Price: 0,19840 EUR
Aggregated transactions
(3): Volume: 373 055 Volume weighted average price: 0.19634 EUR
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC STOCK EXCHANGE RELEASE, INSIDER INFORMATION 31.10.2025 AT 16.40 EET
Alisa Bank Plc has on 6 October 2025, published its strategic decision to evaluate possibilities to withdraw from consumer loan business.
As part of this strategic decision, Alisa Bank Plc has on 31 October 2025 signed a Receivable Purchase Agreement to sell a significant part of its consumer loan portfolio to Bankaktiebolaget Nordiska (Publ) (Sweden).
The size of the loan portfolio to be sold equals to approximately 75% of Alisa Bank Plc´s consumer loan portfolio. The purchase price of approximately €51 million will be paid in cash. The transaction is conditional on an approval from the Swedish FSA (Finansinspektionen), and is estimated to have a positive impact on Alisa Bank Plc`s result for financial year 2025. The positive impact on profit will be specified during the sales process and will be published after the conditions for the sale have been fulfilled.
Gradual withdrawal from the consumer financing is estimated to support the bank´s strategical decision to focus on providing financial services to SME companies and on BaaS (Banking as a service) collaborations.
More information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank in brief
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC STOCK EXCHANGE RELEASE 23.10.2025 AT 16.30 EEST
Alisa Bank Plc’s Chief Financial Officer Kukka Lehtimäki will be on parental leave starting from 15 March 2026. During Lehtimäki’s parental leave, Aki Gynther (B.Sc. Econ) will serve as acting Chief Financial Officer and member of the Management Team, starting from 16 March 2026.
Gynther has extensive experience in the banking sector, having held positions as CFO as well as in risk control and business management. He will join Alisa Bank on 2 January 2026, and during the transition period at the beginning of the year, he will work alongside Kukka Lehtimäki.
The appointment is conditional on the Financial Supervisory Authority not having any objections to the appointment.
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank in brief
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC STOCK EXCHANGE RELEASE 23.10.2025 AT 12.30 EEST
The Board of Directors of Alisa Bank Plc has decided to discontinue the company’s performance-based share incentive plan 2024–2028, which was established in August 2024 for the company’s management and key employees. The current long-term incentive plan no longer serves the company’s strategic objectives.
No new rewards will be granted under the plan, and no payments will be made from it.
The Board of Directors has initiated the preparation of a new, replacement incentive scheme intended for the company’s management and key employees. One of the company’s key goals for 2026 is to strengthen profitable growth, and the renewed incentive model will be designed to support this development.
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank in brief
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC STOCK EXCHANGE RELEASE 8.10.2025 AT 16.30 EEST
Alisa Bank Plc's Nomination Board prepares proposals for the members of the Board of Directors as well as their remuneration for the Annual General Meeting. The Nomination Board has four members. The members of the Nomination Board are appointed by the four largest shareholders, each of whom has the right to appoint one member. The four largest shareholders entitled to appoint a member are determined on the basis of the shareholders' register according to the situation on the last day of August of each year.
Composition of the Nomination Board from 8 October 2025:
- Maunu Lehtimäki, Evli Plc
- Juhani Elomaa, Taaleri Plc
- Antti Kemppi, Kempinvest Oy
- Mika Laine, Mika Laine/Veikko Laine Oy/JO Group OÜ
Maunu Lehtimäki is the Chairman of the Nomination Board. Olli-Petteri Lehtinen, Chairman of the Board of Alisa Bank Plc, participates in the work of the Nomination Board as an expert.
Further information
Maunu Lehtimäki, chair of the Nomination Board, tel. + 358 50 553 3000
Alisa Bank in brief
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC STOCK EXCHANGE RELEASE 6.10.2025 AT 17:50 EEST
Kukka Lehtimäki has been appointed as Deputy CEO of Alisa Bank Plc starting 7.10.2025. Lehtimäki is Alisa Bank Plc´s CFO and member of the Management Team, and she has worked at Alisa Bank since 2022.
The former Deputy CEO, Juha Saari has resigned from his position in Alisa Bank.
The appointment is conditional on the Financial Supervisory Authority not having any objections to the appointment.
More information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank in brief
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC STOCK EXCHANGE RELEASE, INSIDER INFORMATION 6.10.2025 AT 17.35 EEST
The Board of Directors of Alisa Bank Plc has on 6.10.2025 decided to evaluate possibilities to withdraw from consumer loan business. The decision is in line with the bank´s strategical decision to put increasing focus on transformation towards SME financing products and growing its own deposit offering.
A stepwise withdrawal is expected to take place during 2025 and 2026. The Board estimates the withdrawal to have a positive impact on Alisa Bank´s 2025 profit before taxes and non-recurring items.
More information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank in brief
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC STOCK EXCHANGE RELEASE, INSIDER INFORMATION 2.10.2025 AT 11.00 EEST
Nordea and Alisa Bank Plc have signed a strategic co-operation agreement aimed at providing invoice financing services for Nordea’s entrepreneur clients through Alisa Bank’s technology.
The agreement covers the development and provision of invoice financing services for Nordea’s entrepreneur clients. The service package strengthens cash flow management by enabling the rapid and flexible conversion of accounts receivable into cash. This solution improves Nordea´s entrepreneur client’s liquidity and simplifies cash flow management, supporting business growth and everyday financial operations.
“As a result of a comprehensive tendering process, we chose to partner with Alisa Bank, which, as an agile operator, can offer entrepreneurs an easy solution for working capital needs. What convinced Nordea about Alisa Bank was its digital approach, ability to integrate with financial management software, and fast access to financing, features our customers value,” says Nina Luomanen, Head of Business Banking at Nordea Finland.
“We are very pleased to begin collaboration with Nordea. Through this partnership, Alisa Bank’s user-friendly invoice financing service will now be available for Nordea’s entrepreneur clients. This makes working capital financing for these businesses faster, easier, and more flexible. It’s great that together we can offer concrete support for business growth and daily operations. The partnership also marks a significant step in implementing and strengthening Alisa Bank’s BaaS strategy,” says Sampsa Laine, CEO of Alisa Bank Plc.
The planned partnership arrangement is expected to launch during October.
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank in brief
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC MANAGER TRANSACTIONS 25.8.2025 AT 11.40 EEST
Person subject to the notification requirement
Name: Lehtinen, Olli-Petteri
Position: Member of the Board/Deputy member
Issuer: Alisa Bank Plc
LEI: 743700VK1NB8HRGTQH74
Notification type: INITIAL NOTIFICATION
Reference number: 743700VK1NB8HRGTQH74_20250822082048_30
Transaction date: 2025-08-21
Venue: XHEL
Instrument type: SHARE
ISIN: FI4000170915
Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE
Transaction details
(1): Volume: 114136 Unit price: 0.00 EUR
Aggregated transactions
(1): Volume: 114136 Volume weighted average price: 0.00 EUR
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC MANAGER TRANSACTIONS 25.8.2025 AT 11.35 EEST
Person subject to the notification requirement
Name: Ramsay, Peter
Position: Member of the Board/Deputy member
Issuer: Alisa Bank Plc
LEI: 743700VK1NB8HRGTQH74
Notification type: INITIAL NOTIFICATION
Reference number: 743700VK1NB8HRGTQH74_20250822082048_31
Transaction date: 2025-08-21
Venue: XHEL
Instrument type: SHARE
ISIN: FI4000170915
Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE
Transaction details
(1): Volume: 73047 Unit price: 0.00 EUR
Aggregated transactions
(1): Volume: 73047 Volume weighted average price: 0.00 EUR
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
ALISA BANK PLC MANAGER TRANSACTIONS 25.8.2025 AT 11.30 EEST
Person subject to the notification requirement
Name: Honkonen, Sami
Position: Member of the Board/Deputy member
Issuer: Alisa Bank Plc
LEI: 743700VK1NB8HRGTQH74
Notification type: INITIAL NOTIFICATION
Reference number: 743700VK1NB8HRGTQH74_20250822082048_28
Transaction date: 2025-08-21
Venue: XHEL
Instrument type: SHARE
ISIN: FI4000170915
Nature of the transaction: RECEIPT OF A SHARE-BASED INCENTIVE
Transaction details
(1): Volume: 89772 Unit price: 0.00 EUR
Aggregated transactions
(1): Volume: 89772 Volume weighted average price: 0.00 EUR
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
Alisa Bank
Alisa Bank Plc is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com
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Company Facts
Guidance
The profit before non-recurring items and taxes for year 2025 is expected to decline from 2024 level.
Financial targets
The target for the group's total capital adequacy ratio is 16 percent.
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