SPAREBANKEN MØRE (MORG) Q3 2026 earnings summary

Executive summary

• 9M pre-tax profit was NOK 974m, up 1.8% YoY; profit after tax rose 2.0% to NOK 748m, while ROE was 11.6% versus 11.7%.

• Q3 profit after tax was NOK 262m versus NOK 258m YoY; ROE was 12.0% versus 12.2%.

Financial highlights

• 9M total income was NOK 1,763m, down 0.8% YoY; net interest income fell 3.1% to NOK 1,457m, while other income rose 11.7% to NOK 306m.

• 9M operating expenses were NOK 751m versus NOK 749m; loan and guarantee impairments fell 46.5% to NOK 38m from NOK 71m.

• Q3 total income was NOK 604m versus NOK 611m; net interest income was NOK 505m, down NOK 10m YoY.

• 9M group earnings per equity certificate were NOK 6.95 versus NOK 6.79; parent-bank earnings per certificate were NOK 7.81 versus NOK 7.02.

Outlook and guidance

• The outlook was positive, supported by regional positioning, cost control, low losses, portfolio quality and adaptable operations.

• Long-term targets remain ROE above 13% and cost/income below 40%; 9M figures were 11.6% and 42.6%, respectively.

• Regional activity was expected to remain strong overall, with robust manufacturing and maritime activity but challenges in construction; Statistics Norway forecast mainland growth of 1.4% in 2026 and 2.1% in 2027.