Instabank (INSTA) investor relations material

Executive summary

• Achieved record-high organic lending growth of 671 MNOK (+7.9% QoQ), reaching 9,167 MNOK in gross loans, with strong performance across all segments.

• Profit before tax was 43.6 MNOK, with profit after tax up 41.6% year-over-year to 32.7 MNOK.

• Cost-to-income ratio improved to 41%, reflecting strong operating leverage and efficiency gains.

• Customer base grew to 150,824, supporting future revenue visibility.

• 36 consecutive profitable quarters, leveraging a pan-Nordic digital platform for scalable growth.

Financial highlights

• Total income in Q1 2026 was 179.5 MNOK, up 44.9 MNOK from Q1 2025.

• Net interest income reached 152.6 MNOK, with total interest income at 235.8 MNOK (+48.6 MNOK YoY).

• Operating expenses increased to 74.3 MNOK (+12.2 MNOK YoY), but revenue growth outpaced cost growth by ~3.7x.

• Loan losses rose to 61.5 MNOK (2.8% of loans), up 19.9 MNOK YoY, mainly due to higher credit card share and strong lending growth.

• Return on equity was 10.4%, with a target of ~15% for 2026.

Outlook and guidance

• Ambition for gross lending growth of NOK 3,000–3,500 million and profit after tax of NOK 160–185 million in 2026.

• Targeting >40% lending growth in 2026, driven by business lending and credit cards.

• Strategic ambition for mid-term profit after tax >400 MNOK and gross loans >18.0 Bn NOK.

• Continued investment in AI and automation to drive efficiency and customer experience.

• Well-capitalized following a capital increase in Q4 2025, supporting disciplined growth.