Lån & Spar Bank (LASP) investor relations material

Executive summary

• Net interest and fee income rose 2.8% year-over-year to DKK 378.8 million, driven by increased customer inflow and higher fee income.

• Profit before tax was DKK 111.4 million, down from DKK 121.3 million year-over-year, with a return on equity before tax of 12.3%.

• Net profit for the quarter was DKK 85.0 million, or DKK 25 per share.

• Management considers the quarter's core earnings and results satisfactory and maintains full-year net profit guidance of DKK 300–400 million.

Financial highlights

• Net interest and fee income increased by DKK 10.4 million year-over-year to DKK 378.8 million.

• Operating expenses rose 11.0% year-over-year to DKK 257.8 million, mainly due to more staff and higher IT costs.

• Impairments on loans contributed a positive DKK 10.1 million, compared to a DKK 8.2 million expense last year.

• Trading portfolio result was a loss of DKK 16.7 million, impacted by negative financial market developments due to the war in Iran.

• Total assets increased to DKK 41.6 billion, up DKK 646.8 million since year-end.

Outlook and guidance

• Management maintains guidance for 2026 net profit after tax in the range of DKK 300–400 million.