Aprila Bank (APRILA) Q2 2025 earnings summary

Executive summary

• Achieved record pre-tax profit of NOK 18 million in Q2 2025, with ROE at 21.9% for the quarter and 16.5% LTM, exceeding internal forecasts and reflecting strong profitability.

• Gross lending grew 17% year-on-year and 4% quarter-on-quarter to NOK 1,263 million, despite temporary market softness.

• Total income reached NOK 59.4 million in Q2, up 16% year-on-year and 5% sequentially, with a stable revenue mix.

• Maintained a solid capital position with CET1 ratio at 31.4%, well above regulatory requirements.

• Focused on scaling with larger customers, automation, and enhancing customer experience to drive profitable growth.

Financial highlights

• Net interest income for Q2 2025 was NOK 52.1 million, accounting for 88% of total income.

• Pre-tax operating profit reached NOK 17.5 million in Q2 2025, up from NOK 14.0 million in Q2 2024.

• Cost/income ratio improved to 43% in Q2 2025, down from 61% in Q2 2024.

• Loan losses totaled NOK 16.6 million in Q2 2025, with annualized losses at 5.3% of gross lending.

• Earnings per share for Q2 2025 was NOK 0.24.

Outlook and guidance

• 2025 guidance updated: total income run-rate target set at NOK 260 million, customer accounts expected at 5,800 by year-end.

• Cost-income guidance unchanged; adjustments reflect Q2 performance, not a weaker outlook.

• Focus remains on accelerating profitable growth, increasing automation, and assessing re-domiciliation for capital efficiency.

• Weak global macro outlook and policy uncertainty persist, but rate cuts expected to benefit profitability.

• AI adoption and operational scalability expected to drive future efficiency and profitability.