Q3 2022 Aktia Bank Abp Earnings Call Transcript
A very good morning, ladies and gentlemen, and welcome to follow this Aktia Bank Plc's Q3 results presentation. My name is Mikko Ayub; I am the CEO of Aktia Bank Plc. And together with me here is our CFO, Outi Henriksson. She will take the floor after my presentation. And after that, you are more than welcome to post any questions you may have.
I will start by raising a few highlights of our third-quarter result. Interest income from lending continued to grow strongly. And the average margin from the entire loan book continued to improve. Increased funding and hedging costs, though, weighed down the net interest income during the third quarter. In asset management, net subscriptions were positive. However, the market decline decreased the value of assets under management in our asset management business.
Life insurance companies' solvency rose to record-high levels. The investment portfolio of our life insurance company did suffer from market value development during the third quarter. Credit loss provisions remained at a very moderate
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