Alisa Bank - Rather challenging quarter 

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.
 

  • Total income during H2/24 amounted to EUR 9.3m (Evli EUR 9.8m). Net interest income amounted to EUR 8.3m (Evli EUR 8.8m) and net fee and commission income to EUR 1.0m (Evli EUR 0.9m). 
  • The loan portfolio of business financing increased y/y, and by the end of December amounted to EUR 47.6m (41.1m). In personal customers, the loan portfolio decreased to EUR 101.9m (131.8m).
    The loan portfolio (before expected credit losses) at the end of H2 amounted to EUR 149.5m (Evli EUR 190m), down 13.5% y/y. The deposit base amounted to EUR 394.6m, up 47% y/y.
  • The adj. pre-tax profit during H2 amounted to EUR 0.9m (Evli EUR 0.9m). Total OPEX amounted to EUR 6.4m (Evli EUR 6.3m). 
  • Earnings per share amounted to EUR 0.01 compared with our estimate of EUR 0.01.
  • CET1 and the CET1 ratio amounted to EUR 20.1m and 15.1% and total capital ratio to 17.6% 
  • The cost / income ratio amounted to 68%.
  • Outlook for 2025: Alisa Bank estimates that the bank’s operating result will continue to develop positively during 2025.
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