Tysnes Sparebank (TYSB) Q2 2025 earnings summary

Executive summary

• Result before losses and tax was NOK 23.9 million, down from last year due to reduced net interest income and a deliberate reduction in the loan portfolio to strengthen solidity.

• Net loss after tax for the quarter was NOK -20.2 million, mainly due to NOK 53.5 million in credit losses related to merger preparations.

• The merger with Haugesund Sparebank is approved and will be effective from September 1, 2025.

Financial highlights

• Net interest margin at half-year was 2.22%, down from the previous year.

• Net commission income increased by NOK 2.3 million year-over-year to NOK 8.8 million, driven by higher mortgage transfers to Eika Boligkreditt.

• Total operating costs increased by NOK 4.4 million year-over-year, with a cost/income ratio of 57.2%.

• Equity return after tax was -11.9% for the period.

• Total assets at quarter-end were NOK 3,640 million.

Outlook and guidance

• Underlying banking operations remain solid despite significant credit losses.

• Loan growth is managed tightly in the corporate market to meet capital targets, while private market lending shows positive development.

• The bank expects a positive development post-merger, with continued local presence and customer focus.