Tinde Sparebank (TINDE) investor relations material

Executive summary

• Q3 pre-tax operating profit rose 21.1% YoY to NOK 36.2m on lower costs and credit losses; 9M pre-tax profit was NOK 82.1m, down NOK 1.6m YoY as credit losses increased.

• 9M net income was NOK 66.1m vs. NOK 65.7m; 2025 comparisons are distorted by the June 2025 merger, with pro forma figures provided for improved comparability.

Financial highlights

• 9M operating income was NOK 316.2m vs. NOK 263.6m; net interest income reached NOK 227.1m, up 15.2% YoY, partly reflecting the merged income base.

• 9M pre-credit-loss operating profit increased to NOK 148.5m from NOK 116.6m; operating expenses rose to NOK 167.7m from NOK 147.0m, including the acquired cost base.

• 9M credit losses were NOK 66.4m vs. NOK 32.9m; after-tax profit was NOK 66.1m vs. NOK 65.7m, and EPS was NOK 3.73 vs. NOK 3.91.

• Q3 net income was NOK 27.2m vs. NOK 22.5m; Q3 credit losses were NOK 0.4m vs. NOK 11.6m.

Outlook and guidance

• Norges Bank raised its policy rate to 4.50% in September; following the 0.25-point increase, lending and deposit rates were set to rise by up to 0.25 points from December 15, supporting future net interest income.

• Strategic priorities include credit quality, customer activity, merger synergies and efficiency; the 2030 target is ROE above 10%.

• Target cash dividend payout is 70–100% of equity-certificate holders’ share of net income, subject to capital targets, risk profile and growth ambitions.