Voss Veksel- og Landmandsbank (VVL) Q2 2025 earnings summary

Executive summary

• Net profit after tax for Q2 2025 was NOK 46.4 million, up from NOK 44.2 million in Q2 2024, reflecting strong underlying operations.

• Pre-tax profit for Q2 2025 reached NOK 61.9 million, up from NOK 59.0 million in Q2 2024.

• Total assets increased to NOK 6.71 billion as of June 30, 2025, compared to NOK 6.38 billion a year earlier.

• Total comprehensive income for H1 2025 was NOK 52.8 million, up from NOK 41.3 million year-over-year.

• Solid core operations with strong lending growth, low losses, and increased net other operating income.

Financial highlights

• Net interest income for Q2 2025 was NOK 89.2 million, up from NOK 86.2 million in Q2 2024.

• Net commission and other operating income rose to NOK 18.7 million from NOK 14.4 million year-over-year.

• Net other operating income for H1 2025 was NOK 31.3 million, up NOK 6.1 million year-over-year.

• Operating expenses increased to NOK 38.1 million from NOK 32.4 million, driven by higher personnel and other costs.

• Customer deposits at quarter-end were NOK 4,862 million, up 8.2% year-over-year; loan growth including Eika Boligkreditt was 8.0%.

Outlook and guidance

• Management expects continued satisfactory results, supported by stable local markets and strengthened core operations.

• Ongoing focus on quality growth, increased non-interest income, and cost reductions.

• Expansion in insurance and savings product sales to further boost income.

• Underlying operations continue to develop positively, with stable growth in both lending and deposits.