Skandiabanken (SBANK) Q3 2025 earnings summary

Executive summary

• Stable results for the first nine months of 2025, with increased mortgage applications and volumes in the last month of the quarter, supported by a policy rate cut from the Riksbank and signs of recovery in the Swedish housing market.

• Maintained a top-three position in customer satisfaction according to Svenskt Kvalitetsindex, with high trust and perceived value among customers.

• Mortgage volumes grew by 2% year-to-date, while deposits decreased by 1% during the quarter.

Financial highlights

• Q3 2025 operating profit was 158 MSEK, up from 138 MSEK in Q2 2025; return on equity rose to 8.56% from 7.53%.

• Q3 2025 revenues were 361 MSEK, down from 380 MSEK in Q2; net interest income fell to 318 MSEK from 338 MSEK.

• Costs decreased to 203 MSEK from 240 MSEK, mainly due to lower personnel and IT expenses.

• For Jan–Sep 2025, operating profit was 465 MSEK (down 8% year-over-year), with revenues up 1% to 1,136 MSEK and costs up 7% to 666 MSEK.

• Net credit losses for Jan–Sep 2025 were -5 MSEK, compared to 4 MSEK in the same period last year.

Outlook and guidance

• Gradual recovery expected in the Swedish housing market, supported by lower inflation, improved household finances, and potential easing of amortization requirements.

• The policy rate is expected to remain at 1.75% for some time, with continued uncertainty due to global trade risks and domestic economic factors.