NOBA Bank Group (NOBA) investor relations material

Executive summary

• Achieved robust financial results in 2025, with record-high customer and employee satisfaction and strong lending growth.

• Completed the acquisition of DBT Capital AB to expand into the SME segment, supporting long-term growth ambitions.

• Sold several NPL portfolios above book value, confirming positive asset quality.

• Issued AT1 and unsecured bonds at lower spreads, with a BBB rating and positive outlook from Nordic Credit Rating.

• Completed stock market listing and core banking platform migration, concluding major transformation projects.

Financial highlights

• Adjusted core operating profit reached SEK 4,978m for 2025, up 45%; Q4 profit was SEK 1.3bn, up 38% year-on-year.

• Operating income for 2025 was SEK 11,276m, up 14% year-on-year; Q4 income was SEK 2,928m, up 9%.

• Loan portfolio grew to SEK 132.3bn, a 6% increase (10% in local currencies).

• Net profit for 2025 was SEK 3,611m, up 64%; EPS was SEK 6.82, up 71%.

• Cost income ratio at 24% in Q4, flat year-on-year; adjusted C/I ratio 22.4% for 2025.

• Net interest margin at 8.3% in Q4 and 8.2% for 2025.

• CET1 ratio at 13.7%, within 13–15% target range.

• Proposed ordinary dividend of SEK 1.60/share and extra dividend of SEK 1.50/share.

Outlook and guidance

• Management targets annual organic loan growth of at least 10% in local currencies medium-term.

• Aims for total lending volume of SEK 250bn by 2030.

• Committed to cost income ratio below 20% by 2027; progress toward target will not be linear.

• Expects continued improvements in RoTE from operational leverage and normalizing cost of risk.

• Cost growth expected to remain above historical trend in coming quarters due to ongoing investments.