Sparekassen Sjælland-Fyn (SPKSJF) Q2 2025 earnings summary

Executive summary

• Result after tax increased 3% year-over-year to DKK 321.6 million, with a return on equity of 13.4% p.a.

• Total income after tax rose 16% year-over-year, positively impacted by a DKK 70.8 million gain from the sale of a strategic stake in Nordfyns Bank.

• Business volume grew 6% to DKK 113.8 billion, with loans up 8% to DKK 13.7 billion.

• Name change to SJF Bank was well received and executed as planned.

Financial highlights

• Net interest income fell 4% year-over-year to DKK 460.4 million due to lower general interest rates.

• Net fee and commission income increased 3% to DKK 322.5 million, reflecting higher customer activity.

• Operating expenses including depreciation rose 5% to DKK 487.7 million, mainly from higher wages, IT, and PR costs.

• Basis earnings held steady at DKK 875.1 million despite the interest rate environment.

• Result before tax was DKK 409.1 million, down 1% year-over-year.

Outlook and guidance

• 2025 pre-tax profit guidance was raised on July 9, 2025, to DKK 700–800 million, up from DKK 625–750 million, driven by strong Q2 growth and better-than-expected credit and market developments.