Sparekassen Sjælland-Fyn (SPKSJF) Q3 2025 earnings summary

Executive summary

• Result after tax for the first nine months of 2025 is DKK 478.0 million, matching the same period in 2024, with a return on equity of 13.3% p.a. Result before tax is DKK 603.8 million.

• Total business volume grew 7% year-over-year to DKK 116.4 billion, with both loans and deposits up 9%.

• The period saw a 6% increase in total income, mainly due to a DKK 70.8 million gain from the sale of a strategic equity stake.

• The bank opened a new area center in Carlsberg Byen, Copenhagen, as part of its growth and modernization strategy.

Financial highlights

• Net interest income fell 4% year-over-year to DKK 691.6 million, mainly due to lower interest rates.

• Net fee and commission income rose 5% to DKK 478.6 million, driven by increased customer activity.

• Operating expenses, including depreciation, increased 8% to DKK 738.9 million, impacted by rebranding and the new area center.

• Basis income increased 1% to DKK 1,308.6 million despite the lower interest rate environment.

• Basis earnings decreased to DKK 569.7 million from DKK 611.4 million, reflecting higher costs.

• Cost/income ratio rose to 56.5% from 52.9% year-over-year.

• Dividend per share is DKK 0.0 for the period.

Outlook and guidance

• Full-year pre-tax profit guidance narrowed to DKK 750–800 million, reflecting continued strong earnings.

• The bank aims to keep the cost/income ratio below 50% from 2026 and maintain a capital ratio above 20%.