Rogaland Sparebank (ROGS) investor relations material

Executive summary

• Profit after tax for Q1 2026 was NOK 101.2 million, down from NOK 139.3 million in Q1 2025, mainly due to lower net interest income, reduced other operating income, and higher loan losses and tax costs, partially offset by lower operating expenses.

• Return on equity after tax was 9.4% compared to 13.8% in the same quarter last year.

• Lending growth over the last 12 months reached 9.6%.

• Net interest margin declined to 1.75% from 1.99% year-over-year.

• The bank maintains a solid position but faces ongoing net interest margin pressure.

Financial highlights

• Net interest income was NOK 191.9 million, down from NOK 198.1 million year-over-year.

• Total lending increased by NOK 3.3 billion (9.6%) year-over-year and by MNOK 311 (0.8%) quarter-over-quarter.

• Retail lending grew by NOK 2.8 billion (10.5%) YoY; corporate lending up MNOK 549 (6.5%) YoY.

• Other operating income fell to NOK 29.3 million from NOK 47.6 million, mainly due to negative returns on financial instruments.

• Operating expenses decreased to NOK 91.5 million from NOK 100.7 million, with a cost/income ratio of 41.4%.

Outlook and guidance

• ROE target for the strategy period 2025-2028 is above 11%.

• Profitable growth target is above 5%.

• CET1 ratio target is above 16.15%.

• Dividend payout target is 50-100%.

• Activity in Rogaland is expected to remain high, but with greater sector variation and increased macroeconomic uncertainty.