Sparekassen Sjælland-Fyn (SPKSJF) Q4 2025 earnings summary

Executive summary

• Achieved highest total income in 200-year history at DKK 679.0 million, up 4% year-over-year, driven by strong business growth and increased fee income.

• Net profit after tax was DKK 611.6 million, a 2% decrease from the record year 2024, with return on equity at 12.7%.

• Business volume grew 9% to DKK 119.6 billion, with loans up 12% and deposits up 10%.

• Net interest income fell 4% due to lower interest rates, but fee and commission income rose 6%.

• Operating expenses increased 9%, mainly due to one-off costs for rebranding, new locations, and staff adjustments.

Financial highlights

• Total income: DKK 679.0 million (+4% YoY).

• Net interest income: DKK 921.1 million (-4% YoY).

• Net fee and commission income: DKK 638.7 million (+6% YoY).

• Operating expenses: DKK 1,011.1 million (+9% YoY), with underlying increase of ~2% excluding one-offs.

• Net profit after tax: DKK 611.6 million (-2% YoY).

• Business volume: DKK 119.6 billion (+9% YoY).

• Loans: DKK 14.4 billion (+12% YoY); Deposits: DKK 24.2 billion (+10% YoY).

• Dividend proposed: DKK 11.0 per share, highest since 2015 IPO.

Outlook and guidance

• 2026 pre-tax profit expected in the range of DKK 675–800 million, assuming stable interest rates, continued business growth, lower cost ratio, positive market adjustments, and higher loan loss provisions.

• Targeting 8–10% growth in business volume and further reduction in cost/income ratio.