Achieved strong growth in core brokerage and fund business, with a 12% increase in customers and positive net savings, supported by a record quarter for cross-border trading and robust market sentiment.
Launched private banking across all Nordic countries and received approval for a German banking license, with H2 2026 launch on track.
Maintained cost growth in line with targets and proposed a dividend of SEK 8.60 per share, maintaining a payout ratio of just over 70%.
Achieved record full-year profit of over SEK 3.7 billion, the highest in company history, despite macroeconomic and geopolitical challenges.
Core business growth offset a decline in net interest income due to lower policy rates.
Customer base grew by 12% year-over-year to 2.35 million; savings capital increased by 15% to SEK 1,183 billion.
Number of trades up 16% year-over-year to 16.1 million; revenues up 6% to SEK 5,389 million.
Adjusted profit before tax for Q4 2025 grew 5% year-over-year to SEK 966 million; full-year adjusted profit before tax reached SEK 3,748 million.
Net interest income declined 12% year-over-year in Q4 to SEK 561 million, reflecting lower market rates.
Proposed dividend of SEK 8.60 per share, up from SEK 8.10.
Net interest income expected to stabilize in 2026 as rates level off and deposit volumes grow.
Medium-term targets reiterated: 13–15% annual customer growth, average savings capital per customer of SEK 500,000, and 0.45% income in relation to savings capital.
German market launch in H2 2026, with significant opportunity from new pension account in 2027 and related investments of SEK 80–90 million expected in 2026.
Continued focus on cost control and further development of private banking and fund business.
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