SPAREBANK 1 ØSTFOLD AKERSHUS (SOAG) Q4 2025 earnings summary

Executive summary

• Achieved strong results in 2025, with market share gains across all business areas and robust growth in both lending and deposits in retail and corporate segments.

• Result after tax for 2025 was NOK 657 million, up from NOK 651 million year-over-year, with a return on equity of 13.1%.

• Board proposes a dividend of NOK 24.50 per equity certificate for 2025 and an extraordinary dividend of NOK 10 for 2024.

• Maintained a solid portfolio with low default rates and high core capital adequacy.

• Notable one-off gain of NOK 50 million from the sale of stakes in associated companies.

Financial highlights

• Pre-tax profit for 2025 reached NOK 798 million, up from NOK 795 million in 2024.

• Net commission and other income for 2025 was NOK 428 million, with a NOK 50 million gain from asset sales.

• Net interest income including credit institutions was NOK 842 million, with a net interest margin of 1.83%.

• Cost-to-income ratio improved to 38.4% in 2025.

• Loan losses were low at NOK 9 million, with a loss ratio of 0.02%.

Outlook and guidance

• Continued focus on growth ambitions, with expectations of ongoing margin pressure due to competition.

• Focus on cost control and increased use of AI for efficiency and customer value.

• Dividend policy updated from 2025 to base payouts on consolidated group results, targeting around 50% payout.

• The financial position is robust, with a return on equity above target and strong capital adequacy, providing flexibility for future growth.