Skjern Bank (SKJE) investor relations material

Executive summary

• Result before tax increased by 3.0% to DKK 88.3 million compared to the same quarter last year, with net profit after tax at DKK 74.4 million, up DKK 16.5 million year-over-year.

• Net interest and fee income rose by 8.3% to DKK 175.2 million, driven by growth across all business areas.

• Investments in future growth include a new branch and increased staff, supporting the strategy of organic expansion.

Financial highlights

• Net interest income was DKK 100.5 million, up 0.3% year-over-year; net fee income increased by DKK 9.0 million to DKK 70.5 million.

• Dividend income surged to DKK 4.2 million from DKK 68 thousand last year.

• Operating expenses rose by 7.6% to DKK 86.8 million due to higher staff and IT costs.

• Loan impairments decreased to DKK 2.1 million from DKK 4.8 million year-over-year.

• Loans grew by 8.6% to DKK 7,594 million; deposits increased by 16.6% to DKK 10,416 million.

Outlook and guidance

• Full-year guidance for core earnings is maintained at DKK 315–335 million; pre-tax profit expected in the DKK 310–335 million range.

• Loan growth for the year is expected at 7–10%, supported by new and existing customers.