SJF Bank (SJF) investor relations material

Executive summary

• 9M 2026 profit before tax rose to DKK 649m from DKK 604m; net profit was DKK 502m versus DKK 478m, a 13.0% annualized return on opening equity.

• Business volume grew 12% YoY to DKK 130.0bn, supported by higher lending, deposits, mortgage intermediation and customer investment assets.

• Q3 profit before tax increased 14% YoY to DKK 222m; net interest income rose 10%, net fees and commissions 9%, and expenses fell 6%.

Financial highlights

• 9M net interest income rose 6% to DKK 735m; net fee and commission income increased 9% to DKK 524m.

• Basis earnings increased 19% to DKK 677m; operating expenses and depreciation declined 3% to DKK 720m.

• Q3 basis earnings were DKK 232m, up 27% YoY; net profit was DKK 176m versus DKK 156m.

• 9M total comprehensive income was DKK 468m versus DKK 546m, with the prior-year period benefiting from a DKK 71m realized gain on the Nordfyns Bank stake sale.

Outlook and guidance

• FY 2026 profit-before-tax guidance was raised in October to DKK 825–900m from DKK 750–825m, reflecting business-volume and basis-earnings growth and expected high activity late in the year.

• Net interest income was expected to continue improving in Q4 2026, supported by continued growth and a generally higher interest-rate level.

• Strategy through 2030 targets a permanent cost ratio below 50%, DKK 50m of cost-base reduction, a CET1 ratio above 18%, and a 13.5% after-tax return on equity.