Alandsbanken

What Alandsbanken does

Ålandsbanken Abp (Bank of Åland Plc) is a publicly listed Nordic commercial bank founded in 1919 and headquartered in Mariehamn on the Åland Islands, an autonomous region of Finland. The company operates 11 physical branches across three markets — 3 in Åland, 5 in mainland Finland (Helsinki, Vasa, Turku, Parainen, Tampere), and 3 in Sweden (Stockholm, Göteborg, Malmö) — serving retail customers, corporate clients, and high-net-worth individuals through lending (EUR 3,637 million), deposits (EUR 3,681 million), private banking, and asset management with actively managed assets of EUR 11,448 million as of September 2025. The bank has been listed on Nasdaq Helsinki since 1942 under ticker hel:ALBBV and is led by CEO Peter Wiklöf, with Fennogens Investments S.A. identified as a major shareholder.

The core technology platform is augmented by the proprietary Åland Index, a cloud-based carbon footprint tracker developed in-house and now licensed globally through Doconomy, reaching 40 million customers via partnerships with Nordea, Bank of the West (BNP Paribas), and Mastercard. The index uses Trucost (S&P Global) data covering 99% of global market capitalization to calculate CO2 emissions per transaction. Other notable technology and product components include the Ålandsbanken Wind Power Fund Non-UCITS, a Green Finance Framework for green bond issuance, a Climate Finance Portfolio with Gold Standard and Verified Carbon Standard certified projects, and the Baltic Sea Project (EUR 6 million contributed since 1997). The bank joined the UN Principles for Responsible Banking in December 2019 and received Science Based Targets initiative approval in May 2025.

Revenue is generated through three primary streams: net interest income (EUR 71.5M for Jan-Sep 2025, down 9% YoY), net commission income (EUR 62.7M, up 11% YoY), and IT income (EUR 24.9M). FY2024 total income reached EUR 216.4 million with a record EUR 65.0 million net operating profit (up 5% YoY), and Jan-Sep 2025 net operating profit of EUR 51.0 million was a record for that period. The bank carries a Moody's Baa1 long-term issuer rating with positive outlook and a CET1 capital ratio of 14.5% as of December 2024. Distribution is anchored in physical branches complemented by digital banking services, and the bank was named Finland's Best Private Banking operator for four consecutive years by Kantar Prospera.

Name

Alandsbanken

Legal name

Ålandsbanken Abp

Website

https://alandsbanken.com

Company type

Public

Founded year

1919

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Ålandsbanken Abp is a Nordic commercial bank founded in 1919, operating 11 branches across Åland, mainland Finland, and Sweden. It provides retail, corporate, and private banking plus asset management (EUR 11.4B AUM), distinguished by its proprietary Åland Index carbon-tracking technology licensed globally.

Ownership category

akta.pro rank

Headquarters

HQ city

Mariehamn

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Net Interest Income: Interest earned on lending activities minus interest paid on deposits. Primary revenue driver impacted by market interest rates. Decreased 9% to EUR 71.5M in Jan-Sep 2025 compared to prior year.
2. Net Commission Income: Fees and commissions from financial investment operations including asset management, securities trading, and advisory services. Increased 11% to EUR 62.7M in Jan-Sep 2025.
3. IT Income: Revenue from IT services and technology solutions. Total of EUR 24.9M for Jan-Sep 2025.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Ålandsbanken is a publicly listed Nordic commercial bank that provides retail banking, corporate lending, deposit services, private banking, and wealth management across Åland, mainland Finland, and Sweden. Its primary revenue drivers are net interest income from lending and net commission income from asset management and investment advisory services, with a differentiated sustainability proposition including the proprietary Åland Index transaction-level carbon tracking solution.

Product overview

Ålandsbanken (Bank of Åland Plc) is a commercial bank operating across Åland, Finland, and Sweden with three offices in Åland, five in mainland Finland (Helsinki, Turku, Tampere, Vasa, Parainen), and three in Sweden (Stockholm, Göteborg, Malmö). The bank offers a comprehensive suite of banking services centered on three core areas: private banking (recognized as Finland's Best Private Banking for four consecutive years), lending (with covered bond programs and EUR 3.6 billion in lending), and financial investments (with actively managed assets reaching EUR 11.4 billion). The bank's distinctive offerings include the Åland Index, a pioneering carbon footprint tracking solution developed in-house and now deployed globally through Doconomy, and the Baltic Sea Project environmental initiative (EUR 6 million contributed since 1997). The product portfolio spans from traditional deposit and lending services through investment management, wind power fund products, and green finance frameworks, unified by a strong sustainability commitment that includes Science Based Targets initiative membership and UN Principles for Responsible Banking alignment.

Differentiator

Problem solved

Functional benefit

Brands

• Åland Index: Cloud-based software service to track CO2 emissions of every transaction, helping consumers understand their environmental impact.
• Climate Finance Portfolio

Products and services

• Private Banking Personalized banking and wealth management services for high-net-worth individuals and families in the Nordics, covering discretionary asset management, advisory, and integrated financing solutions. Recognized as Finland's Best Private Banking operator by Kantar Prospera for four consecutive years.
• Lending Services Traditional banking lending to retail and corporate customers across the Nordic markets, including mortgages and corporate loans. Managed mortgage loans reached EUR 3,448 million in Q3 2025 and the bank operates covered bond programs for funding.
• Deposit Services Interest-bearing deposit accounts for retail and corporate customers across Åland, Finland, and Sweden. Customer deposits totalled EUR 3,681 million as of Q3 2025, up 8% year-on-year, forming the primary funding base for the bank's lending activities.
• Asset Management Services Investment management services including mutual funds and discretionary mandates. Actively managed assets reached a record EUR 11,448 million in Q3 2025, up 7% year-on-year, generating net commission income of EUR 62.7M for Jan-Sep 2025.
• Åland Index Cloud-based carbon footprint tracking solution that calculates CO2 emissions from every financial transaction. Originally developed by Ålandsbanken and deployed globally via Doconomy partnership with Trucost data covering 99% of global market cap. Licensed to partner banks (Nordea, Bank of the West/BNP Paribas), reaching 40 million customers worldwide.
• Environmental Payment Card A payment card product that connects each transaction to its environmental impact through the Åland Index solution, enabling cardholders to monitor their carbon footprint from purchases.
• Ålandsbanken Wind Power Fund Non-UCITS Specialized wind power investment fund (Non-UCITS) for qualified investors, providing exposure to Nordic wind power projects such as the Murtomäki wind farm, backed by long-term power purchase agreements and debt facilities.
• Green Finance Framework Framework for issuing green bonds and sustainable finance instruments, supporting the bank's commitment to environmental sustainability and aligned with UN Sustainable Development Goals and Paris Agreement commitments.
• Climate Finance Portfolio Compensation portfolio investing in certified climate projects with verifiability, traceability, additionality, permanence, and sustainability enhancement. Projects include Kenya Solvatten, Sweden Boreal Mix forests, Sierra Leone Safe Water, and BECCS technology projects.
• IT Services Revenue-generating IT services and technology solutions commercialized by the bank, generating EUR 24.9M for Jan-Sep 2025. This includes technology derived from the Åland Index platform that is licensed to partner banks.

Quantifiable outcome

• Record-high operating profit of EUR 51.0M for Jan-Sep 2025
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature1 record

Partnerships

Ten partnerships are on record, tiered core, flagship and minor.

• 2050coreStrategic or Co-development Partner · 1 January 2024Climate partner providing fundamental requirements for climate portfolio projects: verifiability, traceability, additionality, permanence, and sustainability enhancement.
• KemiracoreStrategic or Co-development Partner · 28 April 2023Kemira signed a long-term power purchase agreement (PPA) with Ålandsbanken Wind Power Fund Non-UCITS for the Murtomäki wind farm project, strengthening the project's economics.
• DoconomycoreTechnology or Integration · 10 December 2019Partnership with Stockholm-based fintech startup Doconomy to enable banks' customers to track their CO2-footprint through the Åland Index Solution. Doconomy provides cloud-based software service to track CO2 emissions of every transaction, originally developed by Ålandsbanken.
• NordeacoreTechnology or Integration · 10 December 2019Nordea partnered with Doconomy and Ålandsbanken to offer Åland Index to their 9 million customers in the Nordics, enabling clients to track and measure their CO2 impact through everyday transactions.
• Bank of the West (subsidiary of BNP Paribas)coreTechnology or Integration · 10 December 2019Bank of the West became the first U.S. bank to partner with Doconomy to enable clients to track the environmental impact of their purchases using the Åland Index.
• Trucost (part of S&P Global)coreTechnology or Integration · 10 December 2019Partnership with Trucost to enhance Åland Index with data covering 99% of global market cap for climate risk assessment and carbon impact calculations.
• United Nations Climate ChangeflagshipStrategic or Co-development Partner · 10 December 2019Doconomy's collaboration with UN Climate Change to educate and engage individuals around climate action, with additional innovative tools being developed including a next-generation UN carbon footprint calculator.
• United Nations (UN Principles for Responsible Banking)flagshipStrategic or Co-development Partner · 2 December 2019Bank of Åland signed the UN Principles for Responsible Banking, committing to strategic alignment with the UN Sustainable Development Goals and Paris Agreement.
• OX2coreStrategic or Co-development Partner · 9 September 2016OX2 and the Bank of Åland announced plans for a Mega Green Port project in Åland, combining sustainable port infrastructure with renewable energy initiatives.
• Niklas Zennström (Race For The Baltic)minorStrategic or Co-development Partner · 9 September 2016The Bank of Åland joined forces with Skype co-founder Niklas Zennström's Race For The Baltic initiative to support environmental projects around the Baltic Sea.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Nordea: Largest Nordic universal bank with retail and private banking across Finland, Sweden, Norway, and Denmark. Direct competitor across Ålandbanken's customer segments and also a partner via the Åland Index deployment to 9M Nordea customers.
• Handelsbanken: Major Swedish universal bank known for relationship-driven branch banking, with strong private banking presence. Competes for Swedish retail and corporate clients across the geography where Ålandsbanken also operates.
• Swedbank: Largest Baltic-Nordic retail and digital bank serving households and SMEs in Sweden, Estonia, Latvia, and Lithuania. Competes for retail customers and mortgage lending across the same Nordic geographies as Ålandsbanken.
• SEB: Major Nordic universal bank focused on corporate banking, private wealth, and investment management. Overlaps with Ålandsbanken in private banking, wealth management, and Swedish institutional client coverage; also a debt-facility partner (EUR 51M) for Ålandsbanken's Wind Power Fund.
• DNB: Norway's largest financial services group with substantial corporate, retail, and private banking operations. Comparable in private banking and wealth management capabilities with a similar emphasis on ESG and sustainable finance solutions.
• Danske Bank: Largest bank in Denmark with extensive Nordic private banking and wealth management operations. Competes for Nordic HNW private banking clients and offers sustainable/green finance products analogous to Ålandsbanken's positioning.
• OP Group: Finland's largest retail banking cooperative serving individuals, SMEs, and corporate clients. Competes directly in mainland Finland for retail deposits, lending, and investment products that Ålandsbanken targets.

Others

• Doconomy: Stockholm-based fintech built around the Åland Index technology, originally developed by Ålandsbanken. An enabling partner rather than competitor, sharing a sustainability mission and leveraging Mastercard's equity investment to extend carbon-tracking to 500M people.

Direct peers

• Borgo AB: Swedish specialist mortgage company that acquired Ålandsbanken's entire Swedish mortgage portfolio in June 2024. Now operates as a focused mortgage lender in the same Swedish market where Ålandsbanken previously had scale, making it a direct competitor in residential lending.
• Aktia Bank: Finnish regional commercial bank of similar size operating in Åland, mainland Finland, and Sweden. Aktia competes head-to-head for retail customers, private banking clients, and wealth management AUM, with overlapping branch footprints and product suites.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/alandsbankenaland
• LinkedInlinkedin.com/company/-landsbanken-abp
• Xx.com/alandsbanken

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Alandsbanken