MELHUS SPAREBANK (MELG) Q4 2025 earnings summary

Executive summary

• Result after tax for 2025 was 140.1 MNOK, up from 139.5 MNOK in 2024; Q4 isolated result was 35.1 MNOK, down from 42.7 MNOK in Q4 2024.

• Growth in lending and higher commission income offset by lower net interest due to two rate cuts in 2025.

• Cost increases driven by wage growth and new hires; cost/income ratio at 45.4% for Q4 2025.

• Dividend proposed at 13.5 NOK per equity certificate, totaling 37.5 MNOK.

Financial highlights

• Net interest income for 2025 was 251.4 MNOK, down from 259.6 MNOK in 2024.

• Other operating income rose to 97.7 MNOK from 84.6 MNOK year-over-year.

• Lending growth including EBK was 6.79% over 12 months; customer deposits grew 7.35%.

• Return on equity after tax was 9.29% for 2025, compared to 9.83% in 2024.

• Cost/income ratio increased to 45.4% from 43.2% in Q4 2024.

Outlook and guidance

• Long-term financial targets: return on equity above 10%, credit growth 6–8%, cost/income below 45%.

• Bank is well positioned for continued profitable growth and solid liquidity.

• Regional economic outlook remains positive despite international uncertainty.