ALISA BANK PLC STOCK EXCHANGE RELEASE 12.2.2026 AT 11.30 EET
STRATEGIC SHIFT PROGRESSED – PROFITABILITY STILL UNDER PRESSURE
January-December 2025 in brief
- As part of its renewed strategy, Alisa Bank decided to exit consumer lending. The transaction, in which a significant portion of the portfolio was sold, was completed in December 2025.
- Operating income decreased from comparison period to EUR 14.9 million (17.0).
- Operating expenses increased to EUR 13.7 million (12.8).
- Realised and expected credit losses decreased to EUR 3.3 million (5.5).
- January-December profit before non-recurring items and taxes was EUR -3.4 million (-0.1). Profit before taxes was EUR -2.1 million (-1.3)
- Total capital adequacy ratio increased to 34.6 percent (17.6)
- Loan portfolio before reducing expected credit losses decreased to EUR 58.9 million (149.5). The business customer loan portfolio decreased to EUR 45.4 million (47.6) and the loan portfolio of consumer customers decreased to EUR 13.4 million (101.9).
- Deposits decreased to EUR 256.5 million (394.6). Liquidity remained good, and the LCR liquidity ratio was 1,210 percent (12/2024: 710) at the end of the financial year.
July-December 2025 in brief
- July-December profit before non-recurring items and taxes was EUR -1.9 million (0.9). Profit before taxes was EUR -0.5 million (0.7).
- Total income increased to EUR 7.6 million (9.3).
|
Group key figures (EUR 1,000) |
Jan-Dec 2025 |
Jan-Dec 2024 |
Jul-Dec 2025 |
Jul-Dec 2024 |
Jan-Dec 2023 |
|
Net interest income |
12,263 |
15,075 |
5,650 |
8,280 |
14,757 |
|
Net commission income and expenses |
1,402 |
1,815 |
674 |
1,017 |
1,785 |
|
Total operating costs |
-13,697 |
-12,781 |
-7,073 |
-6,350 |
-11,398 |
|
Realised and expected credit losses |
-3,309 |
-5,527 |
-973 |
-2,304 |
-5,443 |
|
Profit before taxes |
-2,093 |
-1,317 |
-492 |
678 |
-140 |
|
*Profit before non-recurring items and taxes |
-3,351 |
-137 |
-1,911 |
862 |
389 |
|
*Cost to income ratio, % |
92 |
75 |
94 |
68 |
68 |
|
Balance sheet total |
305,959 |
450,604 |
305,959 |
450,604 |
312,398 |
|
*Return on equity (ROE), % |
-5.9 |
-3.9 |
-2.7 |
4.4 |
-0.5 |
|
*Capital adequacy ratio (TC), % |
34.6 |
17.6 |
34.6 |
17.6 |
15.1 |
|
Common Equity Tier (CET1) capital ratio, % |
31.1 |
15.1 |
31.1 |
15.1 |
12.0 |
|
Number of employees at the end of period |
79 |
80 |
79 |
80 |
78 |
|
Earnings per share (EPS), EUR |
-0.01 |
-0.01 |
0.01 |
0.01 |
0.00 |
|
*Credit losses/loan portfolio, % |
5.6 |
3.7 |
3.3 |
3.1 |
3.2 |
* The calculation principles of alternative performance measures are presented in Appendix A.
CEO’s review
Towards strategy-aligned growth
The past year fell clearly short of targets in terms of both the sales of financing products and the utilisation rate of invoice financing limits. Although business lending sales recovered in the second half of the year, total balance sheet income remained below target. In contrast, the development of deposit net interest income exceeded the target, supported by successful funding of business customers. The Bank’s costs developed as planned, and the implemented cost-saving measures will become more clearly visible in 2026. Depreciation for 2025 includes one-off write-downs of capitalised development costs related to the sale of the consumer lending business, which increased depreciation for the financial year by EUR 0.8 million.
We executed our strategy in a determined manner, focusing on banking services for SMEs and invoice financing. As part of this, we sold a significant portion of the consumer loan portfolio and discontinued the sale of almost all consumer-oriented products. The transaction resulted in a total one-off gain of EUR 2.4 million. At the same time, sales and marketing efforts were successfully strengthened to accelerate growth in business financing. The invoice financing cooperation agreement with Nordea, signed towards the end of the year, further supported the positive development in demand. Growth in business customer deposits continued, particularly through Banking-as-a-Service partner channels, although the overall deposit base was deliberately reduced in non-strategic channels.
Market environment and future development
Although some positive signs can be observed in demand for banking and financing services among SMEs, we do not expect the external operating environment to turn clearly more favourable in terms of demand for financing. Euribor rates are expected to remain close to current levels, supporting the assessment of a neutral macroeconomic impact on earnings.
The general cautiousness of the banking sector is expected to continue, which supports demand for Alisa Bank’s services in the current financial year. We expect the positive sales development of our products, which began in the summer of 2025, to continue, supported by an increased number of financial management software and banking partnerships, as well as our own sales and marketing efforts. At the same time, we are assessing opportunities for inorganic growth of the business financing balance sheet by utilising capacity released from consumer finance.
The Bank’s strong capital adequacy and liquidity position, together with a low average cost of funding, support our competitiveness in business financing. At the same time, the deposit margin is expected to continue to increase. The Bank’s strategic development priorities include invoice financing, the further development of business loan products, and the launch of Banking-as-a-Service partnerships in Sweden. Measures related to the renewal of business loan products and the development of the Swedish market will continue as planned.
The Bank will continue measures to strengthen the credit quality of the SME financing loan portfolio, with the objective of reducing the NPL ratio during the current year. Lowering funding costs and streamlining the operational cost structure are key priorities in improving risk-adjusted returns. Going forward, the development of operating profit will be materially dependent on the development of sales volumes.
Warm thanks to our personnel and customers for the past year.
Sampsa Laine
CEO
Outlook for 2026
In the current financial year, the focus of the Bank’s business, in line with its strategy, is on increasing financing volumes for SMEs and on making the Bank’s SME banking services available more broadly through the channels of our existing and new partners (Banking-as-a-Service). The gradual withdrawal from the consumer business – partly as a result of the loan portfolio sale already completed and partly as a result of future measures – will reduce the Bank’s income, expenses and credit losses in 2026.
The development of profitability and the strengthening of operating profit will going forward be materially dependent on the development of corporate financing volumes and the market environment. We estimate that the result before non-recurring items and taxes will be loss-making in the first half of the year. As business growth and structural transformation progress, the Bank’s profitability will improve, and a profitable result before non-recurring items and taxes is expected for the second half of the year.
Alisa Bank Plc
Further information
Sampsa Laine, CEO, Alisa Bank Plc, sampsa.laine@alisapankki.fi
About Alisa Bank Oyj
Alisa Bank Plc is a technology-driven financial services company offering seamless banking services through digital channels. We serve business clients, savers seeking competitive interest rates for their deposits, and partners. Together with our partners, we integrate banking services into the channels customers use daily. Alisa Bank Plc shares are listed on the Nasdaq Helsinki main market (ALISA) and the bank operates under a license granted by the Finnish Financial Supervisory Authority. www.alisapankki.fi