Sparbanken Skåne (SK) Q1 2026 earnings summary

Executive summary

• Operating profit for Q1 2026 was SEK 356 million, up from SEK 300 million in Q4 2025 but down from SEK 378 million in Q1 2025, mainly due to lower net interest income following market rate cuts.

• Net interest income decreased to SEK 489 million from SEK 518 million year-over-year, reflecting lower market rates.

• Net commission income increased to SEK 145 million, driven by higher securities commissions.

• Costs excluding credit losses rose to SEK 329 million, mainly due to higher personnel and IT expenses.

• Positive credit losses of SEK 45 million, mainly from redeemed financial assets and updated macro scenarios.

• Business volume remained stable at SEK 276 billion.

• The bank maintained a strong capital position and high activity level despite geopolitical and market uncertainties.

Financial highlights

• Net interest income: SEK 489 million (Q1 2025: SEK 518 million; Q4 2025: SEK 491 million).

• Net commission income: SEK 145 million (Q1 2025: SEK 143 million; Q4 2025: SEK 134 million).

• Operating profit: SEK 356 million (Q1 2025: SEK 378 million; Q4 2025: SEK 300 million).

• Costs excluding credit losses: SEK 329 million (Q1 2025: SEK 314 million; Q4 2025: SEK 328 million).

• Credit losses: SEK +45 million (Q1 2025: SEK +24 million; Q4 2025: SEK -6 million).

• Return on equity: 10.0% (Q1 2025: 11.4%).

Outlook and guidance

• The Swedish economy is recovering, but uncertainty remains high due to the Middle East conflict and inflation risks.

• The bank expects continued cautious market conditions and stable but competitive lending margins.

• No significant events after the reporting period.