Enity (ENITY) Q2 2025 earnings summary

Executive summary

• Achieved strong organic loan book growth of 9.3% year-over-year (FX adjusted), with all markets contributing positively.

• Adjusted operating profit rose 38% year-over-year to SEK 177 million, with net interest income up 10.7% and adjusted operating profit for H1 at SEK 308.6 million.

• Successfully completed IPO in June 2025, broadening shareholder base and enhancing capital market access.

• Acquired remaining shares in Eiendomsfinans and fully integrated Bank2.

• Optimized capital structure with AT1 bond issuance and extra dividend of SEK 250 million.

Financial highlights

• Lending to the public reached SEK 29.6 billion, up 9.3% year-over-year.

• Net interest margin stable at 4.2% in Q2, slightly improved from last year.

• Adjusted ROTE at 23.9% for Q2 and 20.8% for H1 2025.

• Adjusted cost-to-income ratio improved to 44% from 52% year-over-year.

• Net credit losses remained low and stable at 24 basis points LTM, though increased to SEK 42.7 million due to non-recurring items.

Outlook and guidance

• Targets maintained: 8–10% loan book growth, ~20% adjusted return on tangible equity, CET1 ratio 200–300 bps above regulatory minimum.

• Continued focus on digitalization, automation, and customer experience to drive efficiency.

• Regulatory proposals in Sweden and Norway expected to support first-time buyers and growth.

• Net interest margin guidance remains at 3.5–4% over the medium term, with some margin compression possible.

• Dividend payout target of 20–40% of profit.