Norion Bank Ab · OMXSTO:NORION
Norion Bank Ab — Q4 2025 Earnings Presentation
27 slides from Norion Bank Ab's earnings presentation, Feb 5, 2026
Slide 1: Q4 2025 Quarterly report presentation
Q4 2025 Quarterly report presentation 1
Slide 2: Summary of Q4 2025
Summary of Q4 2025 Y-o-Y comparison Loan book C/I Operating profit Intention to continue SEK 49,675m 34.6% SEK 407m share buybacks -1% +1.8 p.p. +7% EPS Return on equity1 CET1 / Total capital Public offer to the SEK 1.59 13.0% ratio shareholders in +9% -0.6 p.p. 15.6% / 18.4% Consensus AM 1) Quarter
Slide 3: Loan book development
Loan book development • Loan book currently Loan book development (SEKm) Currency effects Q4 25 vs. Q4 24 at SEK 49.7bn 50,286 1,308 51,594 • Underlying increase 49,383 49,051 49,675 50,286 -1,235 -534 -150 49,675 47,513 of SEK 1.3bn during 2025 • Reported figures affected by FX, change in accountin
Slide 4: Corporate
Corporate • Continued improved Loan book (SEKm) Industry split1 sentiment among 11,582 11,221 11,170 10,963 11,526 Other 17% Business services clients but longer Logistics 23% lead times in clients’ 5% decision-making Financial services & processes Investment companies 16% Wholesale & Retail 21% • S
Slide 5: Real Estate (1/2)
Real Estate (1/2) • Selective approach • Muted transaction activity in the Loan book (SEKm) Industry split1 market 23,073 22,135 Other 21,060 21,010 20,504 14% Hotel • Increased optimism 5% Office fueled by further 36% Warehouse rate cuts but longer 7% Retail lead times due in 8% clients’ decision-
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 63% client’s primary bank Share of junior loans 37% • Low share of the client’s total debt Average LTV – Senior loans 64% financing Average LTV – Junior loans 78% • Professional clients • S
Slide 7: Consumer
Consumer • Continued good Loan book (SEKm) Geographic split1 progress from Finland 13,298 13,661 investments in 12,152 12,019 12,769 2% proprietary distribution model Sweden 97% • Reduced risk profile in new lending • New lending at Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 attractive risk- Average customer adj
Slide 8: Payments
Payments • 10th consecutive quarter with double digit growth in Transaction volumes (SEKm) Geographic split1 transaction volumes 6,406 Norway 5,413 16% 5,078 4,973 • Continued 4,456 outperformance of Sweden the underlying 44% Finland market and strong 40% seasonality Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 •
Slide 9: Solid income and margin development
Solid income and margin development Total income (SEKm) NIM – Quarter1 • Stable income 7.6% 1,022 7.1% development with 922 978 919 928 6.7% 6.8% 6.8% NIM +0.1p.p. vs. Q4 2024 • Negative income effect from Stage 3 volumes Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Y-o-Y: +1% Y-o-Y:
Slide 10: NIM negatively impacted by c. 70bps due to cash accounting of Stage 3 volumes
NIM negatively impacted by c. 70bps due to cash accounting of Stage 3 volumes • Reported NII and NIM and impact from cash accounting NIM negatively affected by cash 6.8% 0.7% 7.4% accounting principle applied to Stage 3 volumes within Real Estate Reported NIM Q4 25 Impact from cash accounting Underl
Slide 11: Rate changes affecting both yield and funding costs
Rate changes affecting both yield and funding costs NIM, yield and funding costs1 • IBOR rates have 8.09% 7.78% 7.88% 7.71% 7.59% continued to decline 7.12% 7.35% 7.34% 7.29% 7.11% 6.85% with resulting lower 6.72% 6.73% 6.77% 6.80% yield 10.00% 10.74% 10.77% 11.45% 11.45% 11.47% 10.88% 10.58% 11.33%
Slide 12: LCR and NSFR at solid levels
LCR and NSFR at solid levels • Low liquidity risk with high historic Liquidity coverage ratio (LCR) Net stable funding ratio (NSFR) LCR and NSFR levels 126% • Continued 464% 112% 121% 124% 126% strengthening of 373% 404% regulatory liquidity 320% 330% ratios • Strengthening through both changes to b
Slide 13: Stabilization of structural liquidity position
• Regulatory liquidity Stabilization of structural liquidity position profile strengthened during Q4 2024 and Q1 2025 partly by a Funding / loan book development structural increase of liquidity position 1.19x 1.18x 1.18x 1.13x 1.11x • No further increase 1.03x 1.01x 1.00x during Q2 and Q3 2025 • De
Slide 14: Corporate
Corporate • Strong sentiment Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 and seasonally high 11,582 11,526 factoring volumes 11,221 11,170 10,963 217 226 224 233 driving volume 206 increase in Q4 7.9% 8.0% 8.3% 7.5% 7.8% 7.4% 7.3% 7.0% 7.2% • Continued strong 6.7% sentiment but outlook
Slide 15: Real Estate
Real Estate • Continued selective approach with Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 volume decline 23,073 416 22,135 driven by FX as well 21,060 21,010 20,504 as underlying 289 285 274 volumes 7.5% 7.5% 260 • Reported NIM and 4.7% 5.4% 5.3% 5.0% 4.8% 5.4% 5.3% 5.0% total income
Slide 16: Consumer
Consumer • Continued strong performance Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 • Strong volume increase at attractive 12,769 13,298 13,661 304 12,152 12,019 margins 272 272 230 217 • Gradually improved 9.8% 8.3% 8.9% 8.1% consumer sentiment 7.9% 7.6% 7.2% 7.6% during 2025 6.7% 7.2
Slide 17: Payments
Payments Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 3,605 • Strong increase in 3,386 143 134 transaction volumes 3,018 2,782 2,900 123 123 127 • Sound profitability 17.0% 17.0% 17.8% 17.1% and lower capital 9.3% 9.0% 16.4% intensity compared 8.0% 8.0% 8.6% to other segments • Strong o
Slide 18: Increased costs driven by investments
Increased costs driven by investments • Focus on profitability and Total expenses (SEKm) C/I ratio efficiency 322 303 292 34.6% 21 32.8% • Cost increase during 21 281 20 275 29.9% 30.0% 19 21 the last year driven 27.5% by variable costs, 152 148 151 168 146 inflation and organizational investments,
Slide 19: Continued prudent provisioning with lower credit losses
• Improved payment patterns and credit Continued prudent provisioning with gradually lower quality in front book credit losses • Prudent provisioning Credit losses – Quarter1 maintained given macroeconomic outlook and 1.9% regulatory changes 1.8% 1.8% 1.7% 1.6% • Provisioning ratios remain solid – S
Slide 20: Sale of NPL portfolio to Intrum and Cerberus
Sale of NPL portfolio to Intrum and Cerberus ✓ ✓ ✓ ✓ ✓ Avoidance of Norion Bank’s Positive capital future deductions SEK 430m gross No immediate first sale of NPL impact of SEK due to Prudential amount financial impact portfolio 150m over time Backstop Regulation 20
Slide 21: Solid earnings and profitability level
Solid earnings and profitability level Operating profit (SEKm) EPS (SEK) 525 • 7% increase in 472 operating profit 434 407 2.01 1.81 383 1.70 1.59 • 9% EPS increase – 1.46 positively affected by share buybacks • Solid underlying earnings and profitability level Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q4 24 Q1
Slide 22: Return on equity
Return on equity • Gradual build-up of Reported return on equity - Quarter1 Adjusted return on equity - Quarter1,2 excess capital affecting reported +0.9 RoE 17.8% 18.7% +1.0 +1.4 +1.9 +0.5 16.4% 15.4% 15.4% • Excess capital 13.5% 14.0% 14.0% 14.9% 13.0% increasing despite SEK 1bn share buybacks exe
Slide 23: Strong capital position with intention of new share buyback program
• Total capital ratio of 18.4% as of Q4 2025 Strong capital position with intention of new share • Second share buyback program buyback program of SEK 500m Capital adequacy ratios and requirements completed with 18.1% 18.4% total buybacks of 16.9% 16.5% SEK 1bn during 2025 13.1% • Successful issuanc
Slide 24: Excess capital to be used for further share buybacks
Excess capital to be used for further share buybacks Build-up of excess capital (SEKm)1 Further share buybacks Share buybacks of SEK 1bn during 2025 1,312 1 • 15.6m shares = 7.6% of total shares outstanding 1,149 Intention to initiate additional buybacks of up to SEK 2 500m (Max. of 4.9m shares = 2.
Slide 25: Public offer Consensus Asset Management
Public offer Consensus Asset Management About Consensus Asset Management • Wealth management company, ~9bn AUM • Advisory services and own funds - broad client base • Strong regional presence and market position • Efficient operating platform Why acquire Consensus? Göteborg • Growth and diversificat
Slide 26: Summary and outlook
Summary and outlook Macroeconomic Strong balance sheet Successful issuance of environment and rate EPS increase and prudent AT1 capital outlook provisioning Continued monitoring Public offer to acquire Intention to initiate Selective approach of credit quality Consensus AM further share buybacks 26
Slide 27: Norion Bank Group
Norion Bank Group