Aasen Sparebank (AASB) investor relations material

Executive summary

• Net profit after tax for H1 2025 was NOK 40 million, matching the same period last year, with a return on equity of 9.6%.

• Business volume reached NOK 9.1 billion, up from NOK 8.5 billion year-over-year, driven by strong demand and growth across all business areas.

• The bank maintains a solid position in its local market, emphasizing sustainable growth and risk management.

• Strategic investments contributed positively to results, with dividend income and value increases from associated companies.

• The bank is actively enhancing its anti-money laundering capabilities and sustainability reporting.

Financial highlights

• Net interest income for H1 2025 was NOK 77.1 million, unchanged from last year; net interest margin was 2.25% (down from 2.37%).

• Cost/income ratio including securities was 45.47% (42.78% last year); operating expenses rose to NOK 43 million from NOK 40 million.

• Net loan losses were NOK 0.5 million (NOK 3.3 million last year); net loan loss ratio was 0.01%.

• Customer deposits increased to NOK 5,172 million, up 3.8% year-to-date and 3.6% year-over-year.

• Total assets under management reached NOK 9,076 million, a 6.4% increase over 12 months.

Outlook and guidance

• The bank targets profitable growth in its region, focusing on high-quality risk selection and long-term profitability.

• Loan growth in the personal and business markets was 11% and 13% respectively over 12 months.

• Norges Bank reduced the policy rate by 0.25 percentage points in June 2025, with effects expected from Q3.

• Geopolitical uncertainty and international trade tensions may impact the economic outlook and financial markets.

• The bank is well-positioned in its market and aims to maintain its strong local presence.