NOBA Bank Group (NOBA) investor relations material

Executive summary

• Adjusted core operating profit rose 21% year-over-year to SEK 1.5bn, with organic loan growth of 11% in local currencies and all segments contributing, especially credit cards (Germany) and mortgages (Sweden, Norway).

• Loan portfolio reached SEK 143.3bn, up 12% year-over-year, and net profit for Q2 2026 was SEK 1,110m, a 26% increase.

• Asset quality improved for the ninth consecutive quarter, with declining credit loss levels.

• Continued investment in new product launches and expansion, including equity release in Norway, mortgages in Finland, and micro SME lending, with several launches scheduled for 2027.

• Acquisition of DBT Capital AB established an SME vertical, expanding the business model.

Financial highlights

• Operating income for Q2 2026 was SEK 3,055m, up 13% year-over-year; net interest income reached SEK 2,867m, with NIM stable at 8.1–8.2%.

• Adjusted core operating profit was SEK 1,471m, up 21% year-over-year.

• Cost of risk improved to 2.5% (2.4% excluding macro provisions), with LTM at 2.7%.

• CET1 ratio stood at 13.4%, 3.2 percentage points above regulatory requirements, with a leverage ratio of 10.7%.

• LCR and NSFR were 193% and 110%, respectively, indicating strong liquidity.

Outlook and guidance

• Targeting a cost-income ratio below 20% by 2027, with cost takeout initiatives and investments in AI and product expansion expected to reduce cost growth by year-end.

• Organic loan growth target of at least 10% annually, aiming for SEK 250bn by 2030.

• Core ROTE target of ~30% remains, with a clear path through risk-adjusted margin and operational efficiency improvements.

• Dividend policy at 40% of adjusted core profit; interim dividend of 40% of Q1-Q3 profits to be paid after Q4 EGM.

• Share buyback program under evaluation to optimize capital deployment.