Bank of Åland Plc Revised Earnings Guidance for the First Half of 2014; Provides Earnings Guidance for the Year of 2014
Income is expected to be higher in 2014 than in 2013 as a consequence of both increased volume and margins, but income is strongly dependent on how the fixed income and stock markets perform and is thus difficult to forecast. Total expenses and impairment losses on loans in 2014 are expected to be lower than in 2013. Taken together, the result of these expectations is that in 2014 the Bank of Åland will report a substantially better net operating profit and after-tax profit attributable to the shareholders than in 2013. Previously the company expected 2014 results will report a somewhat better net operating profit and after-tax profit attributable to the shareholders than in 2013.