Enity (ENITY) investor relations material

Executive summary

• Q3 adjusted operating profit was SEK 170m, up 4.3% YoY; adjusted ROTE was 25.4% and net interest margin was 4.2%.

• Lending grew 11% LTM, or 5% at constant currency, as growth picked up after a softer first half; CET1 returned to 14.2%.

• Credit quality remained sound overall, though property-sale write-offs weighed on losses; disciplined, profitable growth remained the priority.

Financial highlights

• Net interest income reached a record SEK 342m, up 11% YoY; adjusted operating income was SEK 404m, up 25%.

• Adjusted operating profit was SEK 170m, up 4.3% YoY; operating profit was SEK 152m, profit for the period SEK 119m and diluted EPS SEK 2.26.

• Adjusted operating expenses were SEK 208m, up 41% YoY partly due to Uno Finans consolidation and acquisition-related amortisation, but down 8% QoQ.

• Lending to the public rose 10.9% YoY to SEK 33.838bn; public deposits increased 13.8% to SEK 27.471bn.

• Operating expenses were broadly flat YoY excluding Uno Finans consolidation; adjusted C/I excluding brokers was 41.6%.

Outlook and guidance

• Medium-term targets include organic lending growth of 8–10% over the economic cycle, adjusted ROTE of ~20%, and CET1 200–300 bps above regulatory requirements.

• Annualized Q3 lending growth was 7%; management expects growth to move closer to target in local currencies next year, conditional partly on housing-market recovery.

• Credit losses are expected to remain near current levels through year-end, then decline gradually; the pace depends on property-market conditions.

• Broker cost reductions are expected to support recovery toward Q2 levels in Q4, with further improvement in 2027; midterm C/I target is 40–42%.