MELHUS SPAREBANK (MELG) Q3 2025 earnings summary

Executive summary

• Result after tax for the first nine months of 2025 was 105.1 MNOK, up from 96.8 MNOK in the same period last year, mainly due to increased lending volume, stable net interest income, higher commission income, and dividends.

• Lending growth including transferred portfolios to EBK was 6.83% year-over-year, and deposit growth was 7.46%.

• Cost/income ratio improved to 44.2% from 44.7% year-over-year.

• Return on equity reached 9.48%, up from 9.24% in the same period last year.

Financial highlights

• Net interest income for the first nine months was 191.6 MNOK, slightly down from 193.4 MNOK year-over-year.

• Other operating income increased to 69.5 MNOK from 58.8 MNOK year-over-year.

• Operating expenses rose to 115.4 MNOK from 112.7 MNOK, mainly due to increased personnel costs.

• Loan losses and write-downs were 11.1 MNOK, down from 13.4 MNOK year-over-year.

• Net profit per equity certificate was 10.93 NOK, up from 10.70 NOK year-over-year.

Outlook and guidance

• The bank aims for a long-term return on equity above 10%, credit growth between 6-8%, and a cost/income ratio below 45% for 2025.

• The bank is well-positioned for continued growth, profitability, liquidity, and financial solidity.