Lån & Spar Bank (LASP) investor relations material

Executive summary

• Net interest and fee income rose 4.1% year-over-year to DKK 767.7 million, driven by customer growth.

• Profit before tax reached DKK 275.9 million, up from DKK 271.2 million, with a return on equity before tax of 15.0%.

• Net profit for the period was DKK 212.2 million, or DKK 61.4 per share, a 3.4% increase year-over-year.

• Management considers the results and core earnings satisfactory and maintains full-year net profit guidance of DKK 300–400 million.

Financial highlights

• Operating expenses rose 7.9% year-over-year to DKK 512.5 million, reflecting higher staff and IT costs.

• Impairments on loans contributed a net income of DKK 0.8 million, compared to a DKK 16.3 million expense last year.

• Trading income (beholdningsresultat) was DKK 11.5 million, down from DKK 42.9 million, due to a one-off gain last year.

• Total assets increased to DKK 43.8 billion, up DKK 2.8 billion since year-end.

• Loans grew by DKK 471.6 million to DKK 20.0 billion, and deposits rose by DKK 1.4 billion to DKK 36.6 billion.

Outlook and guidance

• Management maintains guidance for 2026 net profit after tax in the range of DKK 300–400 million.

• Positive outlook for Swedish operations as credit losses stabilize and economic prospects improve.