SJF Bank (SJF) Q1 2026 earnings summary

Executive summary

• Net profit after tax increased by 2% to DKK 185 million, with a return on equity of 14.3% p.a. compared to the same quarter last year.

• Strong growth in business volume, with double-digit increases in both lending and deposits across retail and corporate segments.

• Cost discipline led to a 7% reduction in total expenses and a cost/income ratio below 50%.

• Lending rose 14% to DKK 14.9 billion, and deposits grew 10% to DKK 24.4 billion year-over-year.

• The bank maintains a robust capital and liquidity position, supporting continued growth.

Financial highlights

• Net interest income rose by 2% to DKK 234 million year-over-year.

• Net fee and commission income increased by 7% to DKK 182 million, driven by higher activity in housing and asset management.

• Operating profit before tax reached DKK 235 million, up from DKK 230 million year-over-year.

• Core earnings rose 13% to DKK 231 million.

• Total business volume grew by 10% to DKK 121.2 billion over the past 12 months.

Outlook and guidance

• Pre-tax profit guidance for 2026 is maintained at DKK 675–800 million.

• Management expects to maintain a cost/income ratio around 50% through continued focus on efficiency.

• Ongoing share buyback program up to DKK 100 million in 2025.

• A new strategic plan is expected to be presented in Q4 2026.

• Continued focus on cost control and capital strength.