Lea Bank (LEA) Q3 2025 earnings summary

Executive summary

• Achieved operating profit of 41.5 MSEK and net profit of 33.3 MSEK in Q3 2025, driven by increased net interest income and loan growth across all core markets.

• Gross loans increased by 605 MSEK to 9,066 MSEK, with growth in Sweden, Norway, Finland, and Spain.

• Annualized ROE reached 10.5% (16.8% adjusted), and cost/income ratio improved to 30.1%, reflecting operational efficiency.

• Multitude Bank increased its ownership to 29.5%, and the shareholder base expanded to over 3,800.

• Deposits increased by 191 MSEK to 8,127 MSEK, and total assets reached 9,751 MSEK.

Financial highlights

• Net interest income for Q3 2025 was 160.8 MSEK, up from 147.2 MSEK in Q2 2025, supported by higher lending volumes.

• Operating profit was 41.5 MSEK and net profit 33.3 MSEK, both up from Q2 2025.

• Loan losses for the quarter were 80.9 MSEK, with a loan loss ratio of 3.7%, consistent with previous quarters.

• Total assets reached 9,751 MSEK as of 30.09.2025.

• Gross loans grew 7% sequentially, and 19% year-to-date, with Sweden showing the highest growth rate at 41% YTD.

Outlook and guidance

• Focus remains on increasing margins, securing attractive risk-reward, and active management of non-performing loans.

• Continued pursuit of profitable growth while maintaining dividend capacity and expanding as a digital niche bank in Europe.