NOBA Bank Group (NOBA) investor relations material

Executive summary

• Q3 lending reached SEK 151.0bn, up 15% YoY; organic growth was 10% in local currencies, with all segments contributing.

• Stable 8.3% NIM, lower credit risk and 29.6% adjusted Core ROTE supported profitable growth.

• Operating income rose 13% to SEK 3,290m and operating profit increased 40% to SEK 1,630m.

Financial highlights

• Adjusted core operating profit was SEK 1,668m, up 23% YoY; adjusted core profit attributable to shareholders was SEK 1,213m, up 20%.

• Net profit was SEK 1,253m; profit attributable to shareholders was SEK 1,183m. Basic EPS was SEK 2.37 versus SEK 1.71.

• Net interest income increased 13% YoY to SEK 3,054m; net credit losses were SEK 883m, down 4% YoY.

• Operating expenses excluding transformation costs rose 15% YoY to SEK 742m; ex-DBT, cost growth was 13% and ex-FX and DBT it was 10%.

Outlook and guidance

• Targets remain at least 10% annual organic loan growth in local currencies, SEK 250bn lending by end-2030, adjusted C/I below 20%, Core ROTE ~30% and CET1 of 13–15%.

• Adjusted C/I below 20% is expected during 2027; elevated cost growth is expected to ease by end-2026.

• Equity release in Norway and mortgages in Finland remain on track for launch in H2 2027.

• Private-loan risk appetite is unchanged; management views current growth as healthy amid improved underwriting and lower losses.