GrønlandsBANKEN (GRLA) investor relations material

Executive summary

• Pre-tax profit reached DKK 97.4 million in H1 2026, up from DKK 84.4 million in H1 2025, yielding a 13.1% annualized return on opening equity after dividends, driven by improved net interest and expense management.

• Lending increased by DKK 115 million since end-2025, reaching DKK 5.0 billion, with deposits at DKK 7.9 billion at the end of H1 2026.

• Net interest and fee income totaled DKK 218.8 million, with operating expenses and depreciation at DKK 126.2 million, mainly due to lower IT costs.

• Q2 performance improved significantly, with lower costs and higher net interest income.

• Impairments on loans and guarantees dropped significantly to DKK 3.9 million from DKK 14.5 million in H1 2025.

Financial highlights

• Net profit for H1 2026 was DKK 109.1 million, up slightly from DKK 108.3 million in H1 2025.

• Net interest income for H1 2026 was DKK 159.4 million, slightly down from DKK 161.6 million in H1 2025.

• Fee and commission income increased by DKK 1.6 million year-over-year, with strong performance in securities.

• Value adjustments resulted in a capital gain of DKK 5.8 million, up from DKK 4.3 million in H1 2025.

• Profit per share after tax was DKK 54.1, up from DKK 46.9 in H1 2025.

Outlook and guidance

• Full-year profit is expected in the range of DKK 195–220 million, unchanged from the July 2026 upward revision.

• Lending is projected to continue moderate growth for the remainder of 2026, with total core income projected to increase slightly.

• Expenses are expected to be at or slightly above 2025 levels, with no further staff increases planned.

• A conditional agreement to sell the BEC Financial Technologies stake could have a significant positive financial effect if completed.