Enity (ENITY) Q3 2025 earnings summary

Executive summary

• Achieved strong Q3 2025 results with double-digit loan book growth (10.2% FX adjusted), robust profitability, and organic expansion, supported by stable net interest margins and cost efficiency.

• Operates across Sweden, Norway, and Finland under multiple brands, with recent acquisitions and integration of Bank2 and Eiendomsfinans.

• Focused on underserved mortgage segments, supporting customers typically rejected by traditional banks.

• Listed on Nasdaq Stockholm in June 2025, further strengthening capital structure and market presence.

• All segments contributed positively, with Finland posting its first profit and high loan growth.

Financial highlights

• Loan book grew over 10% year-over-year to SEK 30.5 billion, with net interest income up 11.3% to 308 MSEK.

• Adjusted operating profit increased 19% to SEK 163 million compared to Q3 2024.

• Adjusted return on tangible equity reached 21.4% for Q3 2025.

• Cost-to-income ratio improved to 43% (adjusted), down nearly 7 percentage points year-over-year.

• Credit losses stable at 0.26% (26 basis points) over the last 12 months.

Outlook and guidance

• Loan book growth target remains 8–10% annualized; adjusted ROTE target ~20%; CET1 ratio 200–300 bps above regulatory minimum.

• Focus on core business growth in Sweden and Norway, accelerating Finnish expansion, and exploring entry into new Northern European markets.

• Gradual decrease in net interest margin expected in 2026 as lower-risk segments are targeted.

• Loan loss levels anticipated to remain around 15 basis points on an ongoing basis.

• Dividend payout ratio targeted at 20–40% of profit.