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In the first half of the year, rising interest rates and market uncertainty led to negative unrealised value changes in the life insurance business's investment portfolio. The net income from life insurance depends on the changes in market values.The growth is supported by the completion of the integration of Taaleri’s wealth management business. Commission income is expected to increase.Financing costs are expected to increase slightly as interest rates rise, the positive impact of the negative interest rate on central bank financing will decrease.The positive impact of the increasing short-term reference rate on private customers’ net interest income will be gradually visible as a result of the annual interest rate adjustments on mortgage loans. The net interest income growth is expected to remain strong, especially in the corporate customer segment, due to the active pricing and expected volume growth.The key uncertainties related to the realisation of the outlook include the development of the interest rate and equity markets as well as the general economic situation. Credit loss provisions are still at a moderate level.Īktia's comparable operating profit in 2022 is expected to be approximately at the same level as in 2021.Expenses were on the same level as last year.The capital gains of a real estate investment increased the net income from life insurance by EUR 11.0 million. Increased interest rates weighed down the life insurance business’s investment portfolio.The sale of Aktia's international fund products expands to eight new markets through a new distribution contract.The asset management's net subscriptions for the quarter were positive, the assets under management decreased by 5 % to EUR 13.9 (14.7 ) billion during the quarter as a result of the increased interest rates and stock market decline.The net interest income continued to develop well the decrease from last year is explained by the accumulated interest on central bank financing (TLTRO III) which was booked during the reference period. The interest income from lending increased strongly with the support of the corporate customer business, and the average margin for the entire loan book improved.Aktia Bank Plc’s Half-Year Report January– June 202 2 : Business in good shape despite the market decline