SBAB Bank (SBAB) Q2 2026 earnings summary

Executive summary

• Total lending increased by 0.6% to SEK 547.5bn and deposits rose by 2.6% to SEK 273.6bn compared to the previous quarter.

• Operating profit decreased to SEK 660m from SEK 759m, mainly due to lower net financial transaction results and higher imposed fees.

• Return on equity was 9.3% (down from 10.9%) and the cost/income ratio rose to 35.9% (from 33.6%).

• The bank maintained a strong capital position with a CET1 ratio of 14.1%.

Financial highlights

• Net interest income fell to SEK 1,271m (from SEK 1,290m) due to calendar effects and slightly lower lending margins.

• Costs increased to SEK 460m (from SEK 450m), mainly due to one-off office relocation costs and higher marketing expenses.

• Net credit losses rose to SEK 14m (from SEK 6m), with confirmed losses at SEK 6m (from SEK 5m).

• Net result from financial transactions dropped to SEK -1m (from SEK 40m).

Outlook and guidance

• The bank aims for a return on equity of at least 10% over time and a CET1 ratio 1-3 percentage points above the regulatory requirement.

• Ordinary dividend policy is set at 20-40% of annual profit after tax, considering capital structure and growth plans.

• The bank expects continued strong competition and plans to increase investment pace to maintain long-term competitiveness.