Sparebank 1 Smn · OSL:MING
Sparebank 1 Smn — Q2 2025 Earnings Presentation
38 slides from Sparebank 1 Smn's earnings presentation, Aug 7, 2025
Slide 1: Second quarter 2025
Second quarter 2025 MÅ FÅ ORGINALBILDE 07. August 2025 Trond Søraas CFO
Slide 2: Q2 2025 Profitable and solid
Q2 2025 Profitable and solid • Return on equity of 16.2% in Q2 and 15.0% year-to-date • Solid operational results and strong contributions from ownership interests Revenue growth partly offset by increased costs in the quarter due to a court ruling in the legal process with Tietoevry • High level of
Slide 3: High value creation over time
High value creation over time 3
Slide 4: Strengthened position within retail in Trondheim
Strengthened position within retail in Trondheim Kantar market position survey, retail banking 2025 Primary bank share Trondheim (per cent) «Which bank do you consider as your primary bank?» 32 30 30 30 30 29 29 29 28 28 26 26 26 26 26 25 24 23 22 22 22 21 21 18 16 16 15 15 14 15 14 14 14 13 14 13 1
Slide 5: Strong performance in the high-net-worth segment
Strong performance in the high-net-worth segment Capital as at Q225 (NOK mill) • Full-service financial provider for high-net-worth clients • Private Banking is well established in the market, and now the Platinum concept is being launched as the next level • Strong execution capabilities have led t
Slide 6: Strong foothold in the SME segment
Strong foothold in the SME segment Market shares (per cent) Corporate banking Corporate banking Accountancy Share of corporate Share of newly Market share # loans established companies businesses 6
Slide 7: Strategic positions for further growth in the corporate market
Strategic positions for further growth in the corporate market Commercial real estate brokerage • Market leader in Trøndelag and Møre & Romsdal • Strong local presence and market insight • Ambition to establish a national position Accounting and advisory services • One-stop shop – seamless delivery
Slide 8: Strategic ownership with financial strength
Strategic ownership with financial strength Profit contribution from SB1 Gruppen (NOK mill) Fremtind strengthened its results with 150 per cent Fremtind is showing strong positive momentum in Q2 Fremtind driving growth • SpareBank 1 Gruppen holds a 51.44% ownership stake in Fremtind • A unified plat
Slide 9: The leading finance centre, both physically and digitally
The leading finance centre, both physically and digitally Comprehensive Reliable, smart, and Strong presence with Skilled advisors with a financial service user-friendly digital 26 finance centres solid local presence offering solution 9
Slide 10: Supporting the summer festival season
Supporting the summer festival season 10
Slide 11: Financial Information
Bank SpareBank as = sMN Accounting Financial Information
Slide 12: Q2 2025 and first half 2025 key figures
Q2 2025 First half 2025 16.2 % Lending growth Retail banking 1.2% 1.4% 15.0% Return on equity Corporate banking 0.9% Return on equity NOK 1,131 mill Deposit growth Retail banking 0.9% 6.2% NOK 2,134 mill Profit after tax Corporate banking - 1.1% Profit after tax Operating margin subsidiaries 18.8% R
Slide 13: Achieving financial targets
Achieving financial targets Return on equity (per cent) Solidity (per cent) Cost/income bank ex. finance (per cent) Cost/income subsidiaries ex. finance (per cent) 13
Slide 14: Growth and margins in Retail Banking - quarterly
Growth and margins in Retail Banking - quarterly Lending volume (NOKbn) Deposit volume (NOKbn) Margins vs NIBOR3M 14
Slide 15: Growth and margins in Corporate Banking - quarterly
Growth and margins in Corporate Banking - quarterly Lending volume (NOKbn) Deposit volume (NOKbn) Margins vs NIBOR3M 15
Slide 16: Results
Results Change Change from NOK mill Q2 25 Q1 25 Q4 24 Q3 24 Q2 24 from Q1 25 Q2 24 Net interest income 1,335 1,321 1,372 1,355 1,309 14 26 Commission income and other income 730 648 580 553 681 82 49 Operating Income 2,065 1,969 1,953 1,908 1,990 96 75 Total operating expenses 917 859 901 810 800 59
Slide 17: Income
Income Net interest income and other income (NOKm) Commission income C ha nge C ha nge NOK mill Q2 25 Q1 25 Q4 24 Q3 24 Q2 24 f ro m Q 1 2 5 f ro m Q 2 2 4 Payment transmission income 80 80 107 79 91 0 -11 Credit cards 9 13 18 18 17 -4 -8 Commissions savings and asset mgmt 17 12 13 13 12 5 5 Commiss
Slide 18: Costs
Costs Total operating expenses per quarter (NOKm) Costs per category • The accrual for incurred costs to Tietoevry for the period 2023 through Q2 2025, amounting to NOK 47 million, increases IT expenses for the quarter • Costs in the bank are in line with Q1, adjusted for the aforementioned accrual
Slide 19: Broad product range and a diversified income platform
Broad product range and a diversified income platform Ownership interests Profit after tax (NOKm) 19
Slide 20: Losses
Losses Loan losses (NOKm) Distribution of losses in the quarter (NOKm) 20
Slide 21: Solidity
Solidity CET 1 Leverage ratio q q ’ q -capital. The bank is subject to a provisional add-on of 0.7 per cent to its Pillar 2 requirement. Until the application for adjustment of IRB models has been processed the CET1 requirement is 16.95% 21
Slide 22: MING – an attractive investment
MING – an attractive investment Profitable, solid and with a shareholder-friendly dividend policy Market leader in Central Norway High share of commission income from subsidiaries and product companies Significant value from ownership within and outside the SpareBank 1 Alliance Well-positioned for s
Slide 23: Disclaimer
Disclaimer This presentation contains certain forward-looking statements relating to the business, financial performance and results of SpareBank 1 SMN and/or the industry in which it operates. Forward- looking statements concern future circumstances and results and other statements that are not his
Slide 24: Appendix
Bank SpareBank 4 | teator Soy counting Appendix
Slide 25: Macro in Mid-Norway
Macro in Mid-Norway Unemployment Housing market dynamics Mid-Norway Wholly unemployed as a percentage of the labor force Norge Trøndelag Møre og Romsdal Development in housing prices Number of bankruptcies in Trøndelag, Møre & Romsdal Seasonally adjusted prices 100 2015 Q2 25 Sources: NAV, SSB housi
Slide 26: Profitable and solid
Profitable and solid Return on equity CET1 ratio Result per ECC Loan losses in per cent of total lending 26
Slide 27: Diversified deposit portfolio
Diversified deposit portfolio Deposits by sector (NOKbn) Deposits covered by the deposit Liquidity Coverage Ratio guarantee scheme as at 30.06.25 (LCR) (NOKbn) Public sector deposits are not covered by the guarantee scheme, but are mostly bound by contractual obligations 27
Slide 28: Well diversified lending portfolio dominated by mortgages
Well diversified lending portfolio dominated by mortgages Loans per sector as at 30 of June 2025 and change last 12 months (NOKbn) q 28
Slide 29: Commercial property, construction, building
Commercial property, construction, building Share of commercial real estate exposure Rental properties make up 75 per cent of the banks CRE in the corporate lending book* exposure, mainly to retail trade, industry/storage and offices Distribution of property per Distribution of area Q2 25 per Q4 202
Slide 30: Robust mortgage portfolio
Robust mortgage portfolio Loan-to-value ratio in the mortgage portfolio Risk weight mortgages Share of mortgages by LTV 30
Slide 31: Problem loans
Problem loans Bl Lending to customers in stage 3 = % of gross lending 0.99% 0.97% 0.96% wee ------- ee _ oom 0.92% ~ , 0.88% pote 08% ee TTS ye rae Tore ~s . 08a ~~ | 0.82% “ _ or . 0.78% ,7 2,291 2,289 2,260 2.311 i i i i i i Q4 22 Q123 Q2 23 Q3 23 Q4 23 Q124 Q2 24 Q3 24 4 24 Q125 Q2 25 Bank SpareB
Slide 32: Subsidiaries
Subsidiaries Change Change NOK mill, SMN's share in parentheses Q2 25 Q1 25 Q4 24 Q3 24 Q2 24 from Q1 25 from Q2 24 EiendomsMegler 1 Midt-Norge (92.4%) 42 8 -1 8 43 34 -2 SpareBank 1 Regnskapshuset SMN (93.3%) 57 52 -3 -7 54 5 4 SpareBank 1 Finans Midt-Norge (64.8%) 68 69 87 68 76 -1 -9 SpareBank 1
Slide 33: Product companies
Product companies Change Change NOK mill, SMN's share in parentheses Q2 25 Q1 25 Q4 24 Q3 24 Q2 24 from Q1 25 from Q2 24 SpareBank 1 Gruppen (19.5%) 114 59 99 86 1 55 113 Gain from merger between Fremtind/Eika 452 SpareBank 1 Boligkreditt (23.2%) 16 24 23 37 35 -8 -19 SpareBank 1 Næringskreditt (12.
Slide 34: Return on financial investments
Return on financial investments Change from Change from NOK mill Q2 25 Q1 25 Q4 24 Q3 24 Q2 24 Q1 25 Q2 24 Net gain/(loss) on stocks 23 25 44 -1 4 -2 19 Net gain/(loss) on financial instruments -3 -39 -47 -45 -17 35 13 Net gain/(loss) on forex -5 -2 42 24 11 -3 -17 Net return on financial instrument
Slide 35: Equity certificate, key figures
Equity certificate, key figures Key figures Q2 2025 2024 2023 2022 2021 ECC ratio 66.8 % 66.8 % 66.8 % 64.0 % 64.0 % Total issued ECCs (mill) 144.18 144.21 144.20 129.29 129.39 ECC price 193.94 171.32 141.80 127.40 149.00 Market value (NOKm) 27,962 24,706 20,448 16,471 19,279 Booked equity capital p
Slide 36: Balance sheet
Balance sheet NOKbn 30.6.25 30.6.24 Cash and receivables from central banks 2.4 1.5 Deposits with and loans to credit institutions 11.5 12.4 Net loans to and receivables from customers 182.1 172.5 Fixed-income CDs and bonds 36.1 36.2 Derivatives 6.1 6.1 Shares, units and other equity interests 1.0 1
Slide 37: Maturity structure
Maturity structure SP, SNP. Final maturity NOKbn 37
Slide 38: Development in CET1 capital and capital adequacy
Development in CET1 capital and capital adequacy CET1 ratio in per cent q q 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q2 2025 CET1 8.254 9.374 10.679 12.192 13.223 13.820 14.727 15.830 17.041 17.790 19.776 21.589 22.4