Norion Bank Ab · OMXSTO:NORION
Norion Bank Ab — Q2 2026 Earnings Presentation
25 slides from Norion Bank Ab's earnings presentation, Jul 14, 2026
Slide 1: Q2 2026 Quarterly report presentation
Q2 2026 Quarterly report presentation 1
Slide 2: Summary of Q2 2026
Summary of Q2 2026 Y-o-Y comparison: Loan book Adjusted C/I 1) Adjusted operating profit 1) Additional share buybacks SEK 54,421m 33.3% SEK 436m executed +10% +3.5 p.p. -8% Adjusted EPS 1) Adjusted ROE 2,3) CET1 / Total capital SFSA investigation SEK 1.76 14.9% ratio completed -3% -1.5 p.p. 13.2% /
Slide 3: Loan book development
Loan book development • Loan book currently at SEK 54.4bn Loan book development (SEKm) Currency effects Q2 26 vs. Q2 25 • All segments growing lending 54,421 5,024 14 54,421 49,383 volumes during the 51,458 49,675 quarter 49,383 49,051 • Underlying increase of SEK 5.0bn during last 12 months Q2 25 Q
Slide 4: Corporate
Corporate Loan book (SEKm) Industry split1 • Strong volume 14,078 Other 19% Financial services & development 11,170 10,963 11,526 11,959 Investment companies 24% • Continued positive sentiment among Wholesale & Retail 16% clients during the Business services 23% quarter Manufacturing 19% Q2 25 Q3 25
Slide 5: Real Estate (1/2)
Real Estate (1/2) • Strong activity Loan book (SEKm) Industry split1 across all sub- Other segments of the real 22,135 21,010 20,504 21,604 21,769 16% estate market Hotel Office 6% 34% • High levels of in- Retail 7% and outflows during Warehouse the quarter 8% Residential • Positive market 29% Q2 25
Slide 6: Real Estate (2/2)
Real Estate (2/2) • Norion Bank acting as a leading Portfolio overview complement to the Share of senior loans 66% client’s primary bank Share of junior loans 34% • Low share of the client’s total debt Average LTV – Senior loans 63% financing Average LTV – Junior loans 78% • Professional clients • S
Slide 7: Consumer
Consumer Loan book (SEKm) Geographic split1 • Continued good 14,488 Finland 13,661 13,956 12,769 13,298 2% progress from investments in proprietary Sweden 97% distribution model • Reduced risk profile in new lending Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Average customer • New lending at Average loan new sal
Slide 8: Payments
Payments • 12th consecutive quarter with double Transaction volumes (SEKm) Geographic split1 digit growth in transaction volumes 6,406 5,519 6,433 Norway 17% 5,078 4,973 • Continued outperformance of Sweden 45% the underlying Finland 38% market Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 • 7.2 million active cust
Slide 9: Wealth Management
Wealth Management • New business area Acquisition of Consensus completed within Wealth • Acquisition completed since beginning of Q2 2026 Management - • ~10bn in AUM – majority of volume in discretionary mandates and growth and low dependence on own funds diversification of • Good start to collabora
Slide 10: Solid underlying income and margin development
• Consensus Solid underlying income and margin development contributing SEK 16m during Q2 • Reported NIM Total income (SEKm) NIM – Quarter1 affected by SEK 3bn growth, of which SEK 2bn in June 978 988 7.1% 6.8% 6.8% 919 928 913 6.4% 6.5% • Positive seasonality effect still visible but more limited t
Slide 11: NIM negatively impacted by c. 60bps due to cash accounting of Stage 3 volumes
NIM negatively impacted by c. 60bps due to cash accounting of Stage 3 volumes • Reported NII and NIM and impact from cash accounting NIM negatively affected by cash 6.5% 0.6% 7.2% accounting principle applied to Stage 3 volumes primarily within Real Estate Reported NIM Q2 26 Impact from cash account
Slide 12: Rate changes affecting both yield and funding costs
Rate changes affecting both yield and funding costs NIM, yield and funding costs1 8.09% 7.78% 7.88% 7.71% 7.59% 7.35% 7.34% 7.29% • IBOR rate volatility 6.85% 7.12% 7.11% 6.77% 6.80% 6.72% 6.73% 6.43% 6.53% • ECB rate hike 10.74% 10.77% 11.45% 11.45% 11.47% 10.88% 10.58% 11.33% 10.53% 9.72% 10.00% 1
Slide 13: LCR and NSFR at solid levels
LCR and NSFR at solid levels Liquidity coverage ratio (LCR) Net stable funding ratio (NSFR) 126% 126% 128% 125% 526% 124% 490% 464% • Low liquidity risk 404% 373% • High historic LCR and NSFR levels Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 13
Slide 14: Corporate
Corporate • Strong volume growth and positive Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 market sentiment 14,078 • ~50% of volume 11,170 10,963 11,526 11,959 224 233 211 206 increase coming 190 8.3% through in June 7.2% 7.5% 8.0% 7.4% 6.7% 5.9% 6.2% 6.5% 6.5% • NIM improving from Q1 l
Slide 15: Real Estate
Real Estate • High activity level with high in- and outflows during the Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 quarter 22,135 21,604 21,769 • Continued selective 21,010 20,504 289 285 260 approach 251 248 • New lending at 5.4% 5.3% 5.4% 5.3% 5.0% 5.0% lower margins and 4.8% 4.6% 4
Slide 16: Consumer
Consumer • Continued strong performance Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 • Strong volume increase at attractive 13,661 13,956 14,488 304 304 13,298 risk adjusted 12,769 272 272 285 margins 9.8% 8.9% • Seasonality effect of 7.9% 8.0% 8.3% 8.3% 8.6% 7.6% 7.8% 8.1% c. SEK 15-20
Slide 17: Payments
Payments Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 • Strong increase in transaction volumes 3,605 3,576 3,735 3,386 164 153 • Sound profitability 2,900 134 143 127 and lower capital 18.0% intensity compared 9.3% 9.0% 10.1% 10.0% 17.8% 17.1% 16.4% 17.0% 8.6% to other segments • Strong
Slide 18: C/I ratio unchanged vs. previous quarter
C/I ratio unchanged vs. previous quarter Total expenses (SEKm) C/I ratio (%) • Focus on profitability and 322 304 329 1 1 292 24 efficiency 20 275 21 22 1 34.6% 1 33.3% 33.3% 21 29.9% 30.0% • Consensus 168 150 151 consolidation 151 146 adding SEK 17m in total expenses 155 during Q2 2026 121 109 133
Slide 19: Bridge between reported and adjusted total expenses
Bridge between reported and adjusted total expenses • Non-recurring items Cost development (SEKm) of SEK 107m • Consensus consolidated from 436 start of Q2 adding 33.3% 32.2% SEK 17m in total 329 -90 313 expenses -17 -17 • SEK 313m total operating expenses comparable to previously reported figures Q
Slide 20: Continued prudent provisioning
• Solid payment patterns and credit Continued prudent provisioning quality in front book remain • Prudent Credit losses – Quarter1 provisioning maintained given 1.8% 1.7% 1.7% 1.7% macroeconomic 1.6% outlook and regulatory changes • Provisioning ratio Q2 25 Q3 25 Q4 25 Q1 26 Q2 26 for Stage 3 privat
Slide 21: Stable earnings and profitability level
Stable earnings and profitability level • Stable underlying Adjusted operating profit (SEKm) EPS (SEK) earnings development with 472 1.81 comparable 434 436 1 1.70 1.59 1.76 1 1.54 operating profit 407 389 unchanged vs. Q2 1.19 2025 • EPS positively affected by continued share Q2 25 Q3 25 Q4 25 Q1 2
Slide 22: Return on equity
Return on equity Adjusted RoE - Quarter1 RoE adjusted for excess capital - Quarter1,3 • Gradual build-up of +1.0 +1.4 +1.9 +1.9 +1.3 excess capital affecting reported 15.4% 16.4% 15.4% 2 14.9% 14.9% RoE 14.0% 13.0% 13.6% 2 14.0% 12.1% • Positive effect on RoE due to SEK 780m share buybacks executed
Slide 23: Strong capital position remains
Strong capital position remains • Total capital ratio of 16.3% as of Q2 2026 Capital adequacy ratios and requirements • SEK 1bn deduction 18.4% for share buybacks 16.5% 16.5% 16.3% during Q2 2026 14.5% • Successful issuance 13.0% of SEK 300m AT1 10.8% capital 15.4% 15.6% 13.2% • Capital buffers 9.1%
Slide 24: Summary and outlook
Summary and outlook Macroeconomic Strong balance sheet Solid underlying SFSA investigation environment and rate and prudent development concluded outlook provisioning Ongoing SEK 500m Continued monitoring Improved sentiment Wealth Management share buyback of credit quality and activity business esta
Slide 25: Norion Bank Group
Norion Bank Group