contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


fivan-suositus-pankkien-voitonjakoa-koskien-noudattaa-taysin-ekpn-linjaa

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Sauli Vilén

Matias Arola

Aktia Pankki offers banking services. The company is a Nordic financial company and offers financial services, asset management, insurance, and real estate brokerage. A large part of the services are offered via the company's network services and are offered to both private and corporate customers in most sectors. The largest presence is in the Finnish market. The company is headquartered in Helsinki.

New report on Aktia, at the same time  target price: 11.0->12.0 eur & more                   Inderes              Aktia laaja raportti: Varainhoito määrittää strategiakauden onnistumisen -...    Aktian tulostaso on noussut selvästi korkotason mukana, ja lainakysynnän piristymisen sekä varainhoidon tasaisen kasvun pitäisi pitää kannattavuustaso lähivuosina kohtalaisen vakaana.

Here are Kassu’s comments after the Financial Supervisory Authority slightly raised Aktia’s capital requirement  The 0.25 percentage point increase in the additional capital requirement is small, and its impact on the bank’s overall solvency is minor. Therefore, the announcement does not affect our assessment of Aktia’s dividend distribution potential.                   Inderes              Finanssivalvonta nosti hieman Aktian pääomavaatimusta - Inderes    Lisäpääomavaatimuksen 0,25 prosenttiyksikön nosto on pieni, ja sen vaikutus pankin kokonaisvakavaraisuuteen on vähäinen. Tiedotteella ei siten ole vaikutusta arvioomme Aktian voitonjakopotentiaalista.

They are hardly at the top of the plans, at least after the Taaleri deal. Now the management has left the door open for an even larger profit distribution, and I understand that they do not want to publicly anchor investors’ expectations to any specific level. In the coming years, however, profit distribution must increase if they want to maintain their solvency at their target level (~4% above the regulatory requirement). With a 60% payout ratio, the balance sheet is constantly strengthening, and I don’t see a need for this, especially since the intention is to grow in capital-light asset management. Of course, some changes may come from the regulation side; for example, the Financial Supervisory Authority has recently raised the capital requirements for some banks. However, this should not have a dramatic effect on the outlook for profit distribution. Here’s one observation from the loan market, by the way. After this Helsingin Sanomat article, I dug up information on Ylva’s financiers, and at least in the 2021 financing package, Aktia was involved based on information available from public sources. Could this then be the single real estate sector player that has accounted for 40% of Aktia’s loan loss provision growth this year (EUR 4–5 million)?                   Helsingin Sanomat – 13 Nov 25              HS-analyysi | HYY:n kiinteistöt myytiin polkuhintaan, ja se on varoitus koko...    Kiinteistömarkkinoilla päivän hinta näyttää olevan puolet optimistisesta arviosta, kirjoittaa taloustoimittaja Alex af Heurlin.                                               Ylva – 12 May 21              Ylvalle 205 miljoonan euron lainarahoitus - Ylva    Ylva on sopinut yhteensä 205 miljoonan euron syndikoidusta luotosta. Lainanantajia ovat OP Yrityspankki, Nordea, Aktia ja LähiTapiola. Viisivuotinen laina koostuu vanhojen pankkilainojen jälleenrahoituksesta ja investointilainoista....                             This is mainly an interesting observation, as I don’t believe that significant loan losses will arise from this anymore, even if this particular case is in question. However, the selling price was largely known during Q3, and Aktia’s loan loss accounting policy has never surprised me. Large individual loan losses certainly explain, in part, why the bank aims to reduce its corporate customer sizes in the future.

This hopefully does not mean that the profit will be used for new acquisitions.

Tärkeimmät talousuutiset | Kauppalehti – 14 Nov 25              Osinkopapereiden ykköseltä hämärä vastaus tulevasta – ”Ei ole kiveen...    Aktian uusi toimitusjohtaja Anssi Huhta sanoo Kauppalehden Talousaamussa, että osinkopolitiikkaa katsotaan aina tilanteen mukaan.                             Perceptions, perceptions.

To this, I would point out that the last few quarters have not been bad in terms of sales; quite reasonable amounts have been sold to private customers. But as you said, to reach the targets, the pace should be accelerated, and preferably, assistance should be sought from the institutional side, where capital has continuously decreased in recent years.

I don’t doubt Aktia’s traditional banking operations, but for me, the most important question regarding Aktia is, by what means will the 2029 strategic goal of 25 billion in assets under management be achieved? From the current approximately 16 billion, reaching the target would require an average annual growth of about 12% over each of the four years. If successful, that would probably enable an increase in valuation level as well, but by what means is that feat intended to be accomplished? Even in Kasper’s analysis, it is stated that assets under management have grown mainly with the market, but that is not enough to reach the target; new customers are needed. With what product will they be acquired?

Aktia Pankki

Oma Savings Bank is a Finnish bank that serves private and corporate customers nationwide through its branch offices and digital service channels. The company focuses primarily on retail banking operations and provides its clients banking services through its own balance sheet as well as by acting as an intermediary for its partners' products, such as credit, investment, and loan insurance products. OmaSp is also engaged in mortgage banking operations.

The old wisdoms and facts from the banking sector have always held true. It is regrettable that Omasp’s board failed to grasp this, instead allowing management free rein to boast about their success and their customer-centric, effective operating model, which consequently attracted all high-risk customers. In its ignorance, the administration also handsomely rewarded those “charlatans.” Typical of savings banks, Omasäästöpankki has also suffered from an amateurish and seemingly ignorant administration. Moreover, the foundations, as owners, have appointed pleasant amateurs to remunerated board positions, thus contributing to the genesis of these problems. The only “professionals” were in management, but even they operated in the wrong way, as has been demonstrated.

It’s again now, regarding the individuals in question, that they are being prosecuted over “coins”… From memory, the deals have been small, especially when compared to the millions with which the Pasis have played “roulette” in the house in question. Liiri’s actions would also be interesting; he has, however, known quite a lot…

Three former OmaSp board members to be charged | Ilkka-Pohjalainen There’s the link, probably a paywall at some point. I’ll quote the names from the article:  The accused are Aila Hemminki, Jyrki Mäkynen, and Jaana Sandström.   The prosecutor also made decisions not to prosecute at the same time. Heli Korpinen, Jarmo Salmi, and Kari Mononen were cleared of suspicion.

Ilkka-Pohjalainen reported that three former board members will be charged with insider trading.

Here’s a new and fresh perspective regarding money laundering. I haven’t gone through all the previous posts here, so if there’s been discussion on the topic before, I didn’t notice them:                   Yirah.fi              Rakenne, joka ei kysy – Historiallisten pankkiskandaalien kaava ja...    Kun Finanssivalvonta raportoi 'erittäin suuren merkittävyyden puutteista' pankin asiakastuntemuksessa, herää kysymys: onko kyseessä huolimattomuus vai rakenne? Tässä analyysissa tarkastelemme, miten historiallisten pankkiskandaalien, kuten YBM...                             Excerpt: 4.3 What does this mean? FIN-FSA’s observations describe a bank that meets the criteria for a structure enabling money laundering: ✓ Weak customer due diligence  ✓ Ultimate beneficial owners unidentified  ✓ Origin of funds undetermined This does not prove that money laundering has occurred. It proves that the structure would not have prevented it. An article that asks good questions.

Oh dear. I hadn’t remembered that, but indeed, it seems the bank hadn’t properly handled the Minkkinens’ cottage mortgages. And as you pointed out, this is just the tip of the iceberg, as the Minkkinens’ loans are, in terms of their size, just a drop in the ocean, but apparently the only ones that have come to light regarding these matters. From their phone call with Koponen, it becomes clear at least that the National Bureau of Investigation’s (KRP) line of inquiry was purely on the bank’s side: only the Minkkinens were investigated for fraud, not the bank. Time will tell if the investigation’s focus will also shift towards the bank, and on the other hand, the bank and its personnel might already be subjects of multiple investigations, but that information will certainly not reach the public, at least not for a while. I personally find it puzzling why Turtio spent time on making such a “small” deal, where there was clearly a high risk of getting caught for his actions.

In connection with the Minkkinen case, the same thing emerged that I have written about here a long time ago. Minkkinen had a cottage in Lapland, which Minkkinen voluntarily sold when trying to cope with his debts (the buyer was a party linked to OmaSp’s then Kankaanpää branch manager, as well as Turtio and the Seinäjoki corporate bank manager). The Lapland cottage had x number of mortgages, which were officially held by Minkkinen’s company. The bank had probably at some point obtained names for a pledge agreement concerning the mortgages on that Lapland cottage, but it had never been registered in the mortgage register. When the cottage was sold, the bank became very worried because Minkkinen’s company at that point had many debts in enforcement, and the bank did not have a preferential status to the proceeds from the sale due to the mortgages. All this tells a lot about the level of banking operations practiced at OmaSp. Over the years, all traditional skilled bank officials were kicked out, and in their place, young boys and girls were hired to hand out money to customers. With that, all basic expertise, even in the most rudimentary matters, such as those related to collateral, disappeared from the organization. The most interesting aspect of the Minkkinen case, in my opinion, is that Turtio granted a million-euro loan to Minkkinen’s company for the purchase of NHI Aparmets shares. At that point, according to meeting minutes sources, Turtio was the owner of the seller, New House Innovation, with a 50% stake. I haven’t written in this thread for a long time because I thought the KRP and authorities would handle the investigation of matters going forward. However, I can say that this Minkkinen case is very light fare in the grand scheme of things. There are much more serious events that are also known to the investigators. Whether there will ever be convictions for them, I won’t venture to guess.

Oma Säästöpankki

Evli is an asset management company. The group offers a range of financial services related to asset management and loan financing. Its customers include both private savers and larger corporate customers, with the largest activity in asset management. In addition to its core business, it also offers various ancillary services within fund operations. Evli has its headquarters in Helsinki.

Inderes              Kotimaiset rahastopääomat lähellä haamurajaa marraskuussa - Inderes    Suomen Sijoitustutkimuksen julkaiseman Rahastoraportin perusteella kotimaisiin sijoitusrahastoihin tehtiin marraskuussa nettomerkintöjä lähes miljardilla eurolla. Myynti veti sekä osakkeissa että koroissa, ja myös toimijoiden välillä myynti jakautui...

Evli once again performed excellently in SFR’s institutional asset management study. Here is Evli’s own press release: Evli | Evli jälleen kärkisijoilla SFR Researchin yhteisövarainhoidon… and here is our comment on the study in general: Finanssisektori sijoituskohteena - #831 käyttäjältä Sauli_Vilen

Here’s my comment on the fund report linked earlier by @poutapilvia. Evli’s strong performance continues and the single-year sales record will most likely be broken

Evli +247 million euro net subscriptions from last month  Steady performance  Market share gained this year +0.5% and now it is 6.7%.            cdn.prod.website-files.com              691329973a73b884bf6d354f_Rahastoraportti_202510.pdf    1237.07 KB

Evli              Pörssi- ja lehdistötiedotteet    Voit tilata Evlin pörssi- ja lehdistötiedotteet suoraan sähköpostiisi tästä .                             Evli Short Corporate Bond Fund Became One of Europe’s Largest Corporate Bond Funds The Evli Short Corporate Bond Fund has reached the 2.3 billion euro assets under management (AUM) mark. The fund is now Finland’s second-largest corporate bond fund investing in Europe, and it is among the most significant corporate bond funds in all of Europe. The fund also has Morningstar’s highest, five-star rating. Evli has attracted a total of one billion euros in new investments to its fixed income funds during the year. The Evli Short Corporate Bond investment fund primarily invests its assets in short and medium-term bonds issued by European companies and banks. Investments are made in both higher (investment grade) and lower (high yield) credit rating bonds. The fund’s non-euro-denominated investments are hedged against currency risk. The fund’s portfolio is broadly diversified, and its risk level is moderate. The fund also offers investors access to the Nordic markets, where it currently invests approximately 40 percent of its portfolio. The fund’s objective is to seek a high risk-adjusted return through broad diversification of assets across multiple issuers, sectors, and credit qualities, as well as through active investment policy across different fixed income markets and instruments. Over the last 10 years, the fund has achieved a cumulative return of 19.45 percent compared to the benchmark index’s 11.50 percent.

Evli              Pörssi- ja lehdistötiedotteet    Voit tilata Evlin pörssi- ja lehdistötiedotteet suoraan sähköpostiisi tästä .                             Evli Private Capital Makes a Significant Investment in Finnish Growth Company Enico Evli Private Capital, part of the Evli Group and focused on private equity investments, has, together with Arvo Sijoitusosuuskunta, made a significant seven-million-euro investment in Finnish growth company Enico. Enico offers advanced modular battery-based energy storage systems to companies operating in the commercial, industrial, and energy sectors. The company optimizes electricity storage solutions for both renewable energy producers and users. In this way, the company promotes the green transition and supports the EU’s goals related to reducing carbon dioxide emissions and ensuring energy supply security. Significant minority investments are made from Evli’s Evli Private Capital Fund I, which focuses on the green transition, into small and medium-sized growth companies that concentrate on energy sector disruption, resource efficiency, and the circular economy. The investment now made supports Enico in accelerating its growth both in the company’s current main market in Finland and in international markets. The investment consists of both new capital and the purchase of existing shares. With the investment, Evli Private Capital becomes a significant minority owner of Enico. The energy storage markets are expected to grow rapidly as the transition to weather-dependent renewable energy accelerates both in Finland and in Europe. For example, wind and solar power production is weather-dependent, which causes large price fluctuations and makes energy supply more unpredictable. The growth of renewable energy sources also increases the load on the electricity grid and makes the predictability of energy supply more difficult. All of this significantly increases the need for fast and flexible energy storage solutions. Enico offers modular battery-based energy storage systems (BESS) that help customers improve energy management and gain a competitive advantage from the green transition. The company’s flagship product, Enico | Jupiter, is suitable for various energy storage needs, from small electricity storage units to large, multi-megawatt systems. In addition, with Enico’s AI-based Energy Management System, customers can remotely monitor electricity storage and optimize energy use. The system controls, among other things, energy time-shifting and peak power support, and through its market trading service, electricity storage units also participate in several energy and reserve marketplaces. This helps Enico’s customers maximize the returns from energy storage. With scalable, high-quality products and strong service expertise, Enico helps customers manage the challenges of changing energy markets and supports the transition to cleaner energy by making energy systems more flexible. Enico employs 23 professionals at its headquarters in Tampere, where the company recently also opened new assembly facilities. The company’s customers include companies operating in the commercial, industrial, and energy sectors, such as Recharge, NREP, and AJ Power, as well as investors, such as New Stars & Company. Currently, Enico operates mainly in Finland, but the company has strong international growth targets, supported by its successful export projects. Enico, founded in 2019, has significantly grown its revenue since its establishment: Between 2019 and 2024, the average annual growth rate was almost 200 percent. The company estimates it will almost double its previous year’s revenue of 8.9 million euros in the fiscal year 2025. In addition, in October 2025, the company rose to the first place in the “Deloitte Technology Fast 50” listing, which annually recognizes the 50 fastest-growing technology companies in Finland.

Here are Sauli’s thoughts on Evli in a video, in addition to the report                    Inderes              Evli: Hyvää ei saa halvalla - Inderes    Aika: 27.10.2025 klo 17.00 Kotimaisen varainhoidon kärkiyksilö Evli suoritti vahvasti Q3:lla, kaupan käydessä kuin rajuilma. Sektorin pitkän aikavälin ajurit ovat kunnossa, mutta miten yhtiön generalistinen tarjooma erottautuu perinteisen...                             Topics:  00:00 Introduction  00:35 What makes Evli a top company in the sector?  02:28 Key growth drivers  08:07 Price pressure in traditional asset management  12:30 Corporate arrangements  16:02 Philosophy of financial targets  21:15 Forecasts and valuation  25:02 Good things don’t come cheap

Evli

Finanssivalvonta julkaisi perjantaina suosituksensa pankkien voitonjaosta. Finanssivalvonta suosittaa suorassa valvonnassaan olevien pankkien noudattavan äärimmäistä varovaisuutta voitonjaossa...

Finanssivalvonta julkaisi perjantaina <a href="https://www.finanssivalvonta.fi/tiedotteet-ja-julkaisut/lehdistotiedotteet/2020/finanssivalvonnalta-uusi-suositus-luottolaitosten-voitonjaosta/">suosituksensa</a> pankkien voitonjaosta. Finanssivalvonta suosittaa suorassa valvonnassaan olevien pankkien noudattavan äärimmäistä varovaisuutta voitonjaossa syyskuun 2021 loppuun saakka. Finanssivalvonnan linjaus oli täysin yhdenmukainen EKP:n viime viikolla julkaisemaan <a href="https://www.bankingsupervision.europa.eu/press/pr/date/2020/html/ssm.pr201215~4742ea7c8a.en.html">suosituksen</a> kanssa. EKP ilmoitti viime viikolla suosittavansa pankkien rajoittavan voitonjakoaan syyskuun loppuun 2021 asti. Pankit saavat tässä välissä jakaa osinkoa 15 % 2019-2020 kumulatiivisista tuloksistaan tai maksimissaan 0,2 %-yksikköä CET1-% vakavaraisuudestaan. Finanssivalvonta kehottaa perjantaina julkaistussa suosituksessaan valvonnassa olevien pankkien noudattamaan voitonjaossaan vastaavia kriteerejä. Viime viikolla julkaistu kommenttimme EKP:n voitonjakorajoituksista on luettavissa kokonaisuudessaan <a href="https://www.inderes.fi/fi/uutiset/ekp-jatkaa-pankkien-voitonjakorajoituksia">täältä</a>. EKP:n viime viikon linjaus jätti näkemyksemme mukaan pienen mahdollisuuden sille, että Finanssivalvonta olisi voinnut poiketa valvonnassaan olevien ns. ”vähemmän merkityksellisten” pankkien osalta EKP:n yleisestä linjasta, mutta Fiva ei käyttänyt asian suhteen paikallista harkintaa. Seuraamistamme yhtiöistä Aktia, OmaSp ja Evli ovat kaikki ns. ”vähemmän merkityksellisiä pankkeja” ja Finanssivalvonnan perjantain suosituksen perusteella kaikkien pankkien voitonjako tulee jäämään hyvin niukaksi ennen syyskuun loppuun asti uloittuvan väliaikaisen voitonjakokiellon päättymistä.

Fivan suositus pankkien voitonjakoa koskien noudattaa täysin EKP:n linjaa

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