SpareBank 1 SR-Bank ASASBRKF
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Q2 profit rose on lending growth, with low credit losses and strong ROE, though margin pressure from NIBOR rise and competition noted.
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SpareBank 1 SR-Bank ASASpareBank 1 Sør Norge reported a pre-tax profit of EUR2.82 billion for the second quarter of 2026, up from both the previous quarter and the same period last year. Lending grew 2.6% and deposits rose 6.4% in the quarter, while credit losses were just EUR54 million, or 5 basis points, well below the normalized level of 12 to 15 basis points. Return on equity reached 12.7%, or 13.6% excluding merger goodwill, against a long-term target of 14%, and the cost-to-income ratio was a low 27.8%. Net interest income slipped slightly from the first quarter due to margin pressure from a 33 basis point rise in NIBOR, and the bank said intense competition limits its ability to fully pass on rate hikes to customers. The CET1 ratio stood at 17.51%, including a 45 basis point deduction for a new 1% share buyback program.
SpareBank 1 SR-Bank ASAQ2 profit rose on lending growth, with low credit losses and strong ROE, though margin pressure from NIBOR rise and competition noted.