Bank of Åland Q1-Q3 2019 Financial Results
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Bank of Åland in brief
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A Finnish bank targeting high net worth and affluent individuals
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Top ranked in customer loyalty
Bank of Åland
Plc
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Covered Bond
Program
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Economy and
Markets
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Tradition of stability and very low credit losses
Net Operating Profit increased by 13 % to EUR 24.1 M in Q1-Q3 2019 from EUR
21.3 M in Q1-Q3 2018
BBB rating with a positive outlook from S&P
EUR 2 bn combined Covered Bond/ Senior Medium Term Note Program 2018
(Finnish law)
Two cover pools: Cover Pool FIN and Cover Pool SWE
Legal LTV cap at 70 % and minimum 2 % over-collateralization
Published commitment to a strong over-collateralization and six months liquidity
AAA (stable) rating from S&P on both Cover Pool FIN and Cover Pool SWE
The demand-led Finnish economy has been growing strongly during the last years
Unemployment has dropped from 9.2 % in 2015 to 5.9% as of September 30,
2019
Finnish house prices have risen moderately compared to the Nordic neighbors, as
the demand has been strong in the low rate environment
Lending to private individuals comprise 73 per cent of the Bank of Åland loan
portfolio. Home mortgage loans account for 78 per cent of lending to private
individuals
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