ALISA BANK PLC STOCK EXCHANGE RELEASE 21.7.2026 AT 11:00 EEST

Executing the strategy

January-June 2026 in brief

• Aki Gynther was appointed CEO of Alisa Bank on 17 June 2026.
• Invoice financing invoicing volumes increased by more than 20 per cent compared to the corresponding period.
• The partner network developed strongly, and the number of sales leads generated increased by 46 per cent compared to the corresponding period.
• The invoice financing loan portfolio increased by 43 per cent from the beginning of the year to EUR 42.1 million (29.5).
• The total loan portfolio increased by 7.8 per cent from the beginning of the year and amounted to EUR 59.7 million (55.4) at the end of the review period.
• As part of ongoing Asset and Liability Management (ALM), the deposit base was optimized during the year, deposits decreased to EUR 190.3 million (256.5) from the beginning of the year, while the average deposit margin also decreased by 0.3 percentage points.
• Profit before non-recurring items and taxes was EUR -1.5 million (-1.4), mainly due to the ongoing wind-down of the retail customer business and delayed cost savings from organizational changes implemented at the beginning of the year.
• During the review period, expenses decreased by 5.7 per cent compared to the corresponding period, despite non-recurring costs of EUR 0.3 million related to employment terminations recognised during the first half of the year.
• The bank’s non-performing exposures decreased by 43 per cent from the beginning of the year to EUR 3.2 million (5.6), and net credit losses decreased by 87 per cent to EUR -0.3 million (-2.3) from the corresponding period.
• Liquidity and capital adequacy remained strong throughout the review period.

The comparability of the figures for the review period is affected in particular by the wind-down of the retail banking business initiated in 2025 and the sale of a significant retail loan portfolio completed in December 2025.

Key impacts of the wind-down of the retail banking business:

• The retail banking loan portfolio decreased by 28 per cent from the beginning of the year to EUR 6.8 million (9.4) and by 91 per cent from a year earlier (71.7).
• Interest income from the retail banking business decreased by 86 per cent from the corresponding period and amounted to EUR 0.5 million (3.9). At the same time, net credit losses from the retail banking business amounted to EUR -0.4 million (-1.8).
• As a result of the wind-down of the retail banking business and the related organisational changes, the number of employees decreased by six.

* The calculation formulas for alternative performance measures are presented in the section Alternative Performance Measures.

CEO’s review 

The first half of the year 2026 was twofold. In line with our strategy, we focused on serving SME customers, and our investment in financing SME growth was particularly reflected in our core product, invoice financing, where invoicing volumes increased by more than 20 per cent compared to the previous year. The growth in invoice financing volumes reflects both the gradual recovery of the economy and the increase in volumes generated through our partner network. At the same time, we continued the wind-down of our retail banking business.

Partnerships are one of our strategic cornerstones. In May, we launched a partnership with Visma Solutions (Netvisor), and together with our financial management partners we now reach approximately 160,000 SMEs. Sales leads generated through partner channels increased by 46 per cent during the first half of the year compared to the corresponding period.

Growth in invoice financing, building the foundation for the future

Profit before one-off items and taxes for the first half of the year amounted to EUR -1.5 million (-1.4), while profit before taxes was EUR -1.8 million (-1.6). The comparability of earnings was affected in particular by the fact that the retail banking business still had a significant impact on both earnings and the balance sheet during the comparison period.

Customers have responded positively to our focus on serving SME customers. Growth in invoice financing invoicing volumes was reflected in the balance sheet as the invoice financing loan portfolio increased by more than 40 per cent during the first half of the year to EUR 42.1 million (29.5). Demand for corporate loans was good during the first half of the year, but new lending fell short of expectations and was insufficient to offset scheduled repayments of the existing loan portfolio. The first half of the year was also impacted by the early repayment of a few larger loans, resulting in the portfolio of other corporate loans decreasing to EUR 9.9 million (13.9). We are developing a new financing product to better meet the needs of our corporate customers and thereby support profitable growth also in corporate lending. As expected, retail lending decreased during the first half of the year from EUR 9.4 million to EUR 6.8 million due to portfolio sales and the run-off of the remaining portfolio. Other items, consisting of loans granted to public sector entities and foreign household loans, totalled EUR 0.9 million (2.6).

At the same time as we continued the wind-down of the retail banking business, we systematically reduced and reshaped our funding base to optimise funding costs. We were particularly successful in this during the first half of the year, with the average funding margin decreasing by more than 0.3 percentage points. Deposits amounted to EUR 190.3 million (256.5) at the end of the review period.

Income for the first half of the year amounted to EUR 4.7 million (7.4). The decrease compared to the corresponding period was entirely attributable to the wind-down of the retail banking business. Expenses, on the other hand, decreased more moderately and amounted to EUR -6.2 million (-6.6). Expenses were increased by non-recurring costs of EUR 0.3 million related to employment terminations, as well as by the fact that the cost-saving effects of the organisational changes implemented at the beginning of the review period did not materialise as expected.

During the first half of the year, we continued our efforts to improve the quality of the loan portfolio. This was reflected in lower net credit losses and a reduction in non-performing exposures. Net credit losses for the review period amounted to EUR -0.3 million (-2.3), while non-performing exposures stood at EUR 3.2 million (5.6). The improvement was driven by both prudent customer selection and the discontinuation of retail lending.

The Bank’s capital adequacy ratio stood at 21.4 per cent (34.6) at the end of June, compared with our internal target of 16 per cent.

Focusing on growth and scalability

We continue to execute our strategy with determination. Together with our partners, we aim to be the preferred choice for our customers and a significant provider of growth financing for SMEs. The development of our invoice financing business during the first half of the year demonstrates that we are on the right track and that SMEs have a genuine need for services of this kind.

To support the execution of our strategy, we strengthened our organisation through several appointments. Satu Uski was appointed Chief Information Officer and Marko Ahola was appointed Chief Risk and Compliance Officer. In addition, we are recruiting a Chief Growth Officer to support profitable growth.

We will continue to enhance scalability and explore opportunities to expand our operations to other Nordic countries. In addition to the cost adjustments already implemented, we are critically reviewing both external and internal costs. Customer experience guides our development efforts and our ongoing review of the cost structure.

Aki Gynther
CEO

Outlook for 2026

In line with its strategy, Alisa focuses on financing SME growth and on expanding and developing its partner network. During the review period, strategy execution progressed as planned, supported by, among other things, the Netvisor and Nordea partnership initiatives.

Invoice financing volumes and credit line utilisation rates developed positively during the review period. However, growth in the corporate loan portfolio fell short of expectations during the review period due to new lending volumes and a few significant early repayments.

The organisational changes implemented at the beginning of the review period did not yet deliver the expected cost savings. Consequently, we must continue to develop our cost structure and improve operational efficiency in line with our strategy focused on corporate customers.

The development of Alisa’s profitability and the strengthening of operating profit depend on growth in corporate financing volumes, improvements in operational efficiency and the business environment.

In connection with the Financial Statements, the Company estimated that profit before non-recurring items and taxes for the first half of the year would be negative. As a result of business growth and structural changes, the Bank’s profitability is expected to improve, and profit before non-recurring items and taxes is expected to be positive in the second half of the year.

The Company maintains its outlook for 2026 unchanged.

Further information

Aki Gynther, CEO, Alisa Bank Plc
aki.gynther@alisapankki.fi

Alisa Bank in brief

Alisa Bank is a financial technology company that provides seamless banking services through digital channels. We serve SME customers, deposit customers seeking competitive interest returns on their deposits and partners. Together with our partners, we offer integrated banking services in the channels where customers carry out their daily business. Alisa Bank Plc’s shares are listed on the main list of Nasdaq Helsinki (ALISA), and it holds a license granted by the Financial Supervisory Authority. www.alisabank.com