Aprila Bank (APRILA) Q1 2025 earnings summary

Executive summary

• Achieved record gross lending growth of NOK 143 million in Q1 2025, up 26% year-over-year and 13% quarter-over-quarter, reaching NOK 1,216 million.

• Total income rose 16% year-over-year and 7% sequentially to NOK 56.7 million, with net interest income at NOK 49.7 million.

• Pre-tax profit reached a record NOK 14.1 million, with ROE at 18.5% for Q1 2025 and 16% over the last twelve months.

• Loan losses moderated to NOK 11.6 million, and cost-income ratio improved to 54–55%.

• Maintained a strong capital position with CET1 ratio of 29.2% as of March 31, 2025.

Financial highlights

• Gross lending reached NOK 1,216 million, with 5,395 unique customers at quarter end.

• Pre-tax profit rose to NOK 14.1 million from NOK 5.2 million in Q1 2024; earnings per share increased to NOK 0.19.

• Loan loss rate annualized at 4% of gross lending, down from 7% a year ago.

• Total assets: NOK 1,453 million; total equity: NOK 311 million.

• CET1 ratio: 29.2%; LCR: 872%; NSFR: 209%.

Outlook and guidance

• 2025 guidance: total income run rate of NOK 260–270 million, cost-income ratio around 52%, and approximately 6,000 customers by year-end.

• Focus on accelerating growth, automation, and improving offerings for larger customers.

• Macroeconomic uncertainty heightened by global trade tensions and IMF downgrading 2025 global growth to 2.8%.

• Norges Bank kept policy rate at 4.5%, with potential rate cuts expected in 2025.

• Ongoing monitoring of credit appetite and quality amid low economic growth.