Kreditbanken (KRE) investor relations material

Executive summary

• Pre-tax profit for H1 2026 reached DKK 95.6 million, supported by higher-than-expected interest rates and strong customer activity.

• Net profit after tax was DKK 72.9 million, equivalent to DKK 434 per share.

• The bank raised its full-year pre-tax profit guidance for 2026 to DKK 175–200 million.

Financial highlights

• Net interest income increased by DKK 4.7 million and net fee income by DKK 3.4 million year-over-year.

• Positive market value adjustments totaled DKK 14.8 million.

• Operating expenses rose by DKK 8.9 million to DKK 88.8 million, mainly due to higher IT costs, more staff, and centenary celebrations.

• Loan impairments shifted from an income of DKK 6.6 million to an expense of DKK 5.1 million.

• Loans grew 7.3% to DKK 3,044 million; deposits (excl. pool deposits) rose 14.1% to DKK 5,700 million.

Outlook and guidance

• H2 2026 profit is expected to be in line with H1, reflecting continued higher interest rates and robust customer activity.

• Full-year pre-tax profit guidance for 2026 was raised to DKK 175–200 million.

• Forecasts are based on two scenarios due to economic uncertainty affecting net interest income, market adjustments, and loan impairments.