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Ålandsbanken projects YOY rise in FY'19 profit

Ålandsbanken Abp, or Bank of Åland, expects its full-year net operating profit to increase year over year, a revision from the guidance it set out in February, when it expected its results to be roughly flat.

The bank, which is based in the autonomous Finnish region of Åland, said its preliminary net operating profit for the third quarter was €9.5 million, while the preliminary net operating profit for the nine months to Sept. 30 was about €24.1 million. In 2018, the lender's profit attributable to shareholders totaled €22.9 million, while net operating profit was about €29.0 million.

The bank will release its final nine-month results Oct. 23.