Norion Bank Ab · OMXSTO:NORION
Norion Bank Ab — Q1 2026 Earnings Presentation
28 slides from Norion Bank Ab's earnings presentation, Apr 23, 2026
Slide 1: Q1 2026 Quarterly report presentation
Q1 2026 Quarterly report presentation 1
Slide 2: Summary of Q1 2026
Summary of Q1 2026 Y-o-Y comparison: ~SEK 140m positive impact in Q1 2025 from Stage 3 interest payments. Loan book C/I Operating profit Launch of SEK 500m SEK 51,458m 33.3% SEK 389m share buyback program +8% +1.4 p.p. 1) +1% 1) EPS Return on equity 2) CET1 / Total capital Consensus acquisition comp
Slide 3: Loan book development
Loan book development Loan book development (SEKm) Currency effects Q1 26 vs. Q1 25 • Loan book currently at SEK 51.5bn 49,383 49,675 51,458 3,743 203 51,458 49,051 47,513 47,513 • Underlying increase of SEK 3.7bn during last 12 months • Small positive FX effect on volume Q1 25 Q2 25 Q3 25 Q4 25 Q1
Slide 4: Corporate
Corporate • Positive volume Loan book (SEKm) Industry split1 development for corporate lending 11,221 11,170 10,963 11,526 11,959 Other 19% Business services • Continued strong 26% sentiment among Financial services & clients during the Investment companies 16% Wholesale & Retail quarter 20% Manufac
Slide 5: Real Estate (1/2)
Real Estate (1/2) • Selective approach • Strong activity Loan book (SEKm) Industry split1 across all sub- 22,135 Other 21,604 segments of the real 21,060 21,010 20,504 16% estate market Hotel 5% Office 33% Warehouse • Optimistic market 6% sentiment but Retail 7% increased uncertainty Residential 32%
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 65% client’s primary bank Share of junior loans 35% • Low share of the client’s total debt Average LTV – Senior loans 65% financing Average LTV – Junior loans 79% • Professional clients • S
Slide 7: Consumer
Consumer Loan book (SEKm) Geographic split1 • Continued good 13,661 13,956 Finland 13,298 2% 12,769 12,019 progress from investments in proprietary Sweden 97% distribution model • Reduced risk profile in new lending Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Average customer • New lending at Average loan new sal
Slide 8: Payments
Payments • 11th consecutive quarter with double digit growth in Transaction volumes (SEKm) Geographic split1 transaction volumes 6,406 Norway 17% 5,519 • Continued 4,456 5,078 4,973 outperformance of Sweden the underlying 45% Finland market and strong 38% seasonality Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 •
Slide 9: Solid income and margin development
Solid income and margin development • Stable income development with Total income (SEKm) NIM – Quarter1 underlying NIM unchanged vs. Q1 2025 1 022 978 140 919 928 913 7.6% • Day count, 882 7.1% 6.8% 6.8% 6.4% seasonality and 6.4% timing effects impacting income during the quarter • Negative income Q
Slide 10: 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 6.4% 0.6% 7.1% accounting principle applied to Stage 3 volumes within Real Estate Reported NIM Q1 26 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 8.09% • IBOR rates have 7.78% 7.88% 7.71% 7.59% continued to decline 7.12% 7.35% 7.34% 7.29% 7.11% 6.85% 6.77% 6.80% with resulting lower 6.72% 6.73% 6.43% 11.45% 11.45% 11.47% yield 10.74% 10.77% 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 • Continued 126% 126% 128% 121% 124% strengthening of 464% 490% regulatory liquidity 373% 404% ratios 330% • Strengthening through both changes to b
Slide 13: Structural liquidity position developing as expected
Structural liquidity position developing as expected – Avanza migration successfully finalized • Regulatory liquidity Funding / loan book development profile strengthened 1.19x 1.18x 1.18x partly by a structural 1.11x 1.13x 1.10x increase of liquidity 1.03x 1.01x 1.00x position during Q4 2024 and Q1
Slide 14: Corporate
Corporate • Strong sentiment but seasonally low Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 factoring volumes 11,526 11,959 226 224 233 11,221 11,170 10,963 affecting both 206 190 volume and income development 7.0% 7.2% 7.5% 7.9% 8.0% 7.4% 8.3% 6.7% 5.9% 6.5% • Continued strong sentime
Slide 15: Real Estate
Real Estate • Strong volume development during Q1 Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 2 22,135 416 • Continued selective 21,060 21,010 20,504 21,604 approach 276 289 285 • Large part of 260 251 volume increase 3 5.4% 5.3% 3 5.4% 5.3% 5.0% 5.0% 5.0% 5.0% 4.8% materializing late
Slide 16: Consumer
Consumer Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 13,956 • Continued strong 12,769 13,298 13,661 304 285 12,019 272 272 performance 230 9.8% • Strong volume increase at attractive 8.9% 7.9% 8.3% 8.1% 8.3% 7.6% 7.8% 7.6% margins 7.2% • Continued improved payment patterns and credit q
Slide 17: Payments
Payments Loan book (SEKm) and NIM1 Total income (SEKm) and margin1 • Strong increase in 3,605 transaction volumes 3,386 3,576 153 2,900 143 • Sound profitability 2,782 123 127 134 and lower capital 9.3% 9.0% 10.1% 8.6% intensity compared 8.0% 17.8% 17.0% 17.1% 17.0% to other segments 16.4% • Strong
Slide 18: Increased costs driven by investments
Increased costs driven by investments • Focus on Total expenses (SEKm) C/I ratio profitability and 322 304 1 34.6% 33.3% 292 21 31.9% efficiency 281 20 275 22 29.9% 30.0% 19 21 • Q4 cost base 168 151 seasonally high 148 151 146 • Costs coming down in Q1 in line with 133 132 113 121 expectations 109
Slide 19: Continued prudent provisioning
• Improved payment patterns and credit Continued prudent provisioning quality in front book • Prudent provisioning Credit losses – Quarter1 maintained given macroeconomic 1.8% 1.8% 1.7% 1.7% outlook and 1.6% regulatory changes • Provisioning ratios remain solid Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 – Stage
Slide 20: Stable earnings and profitability level
Stable earnings and profitability level Operating profit (SEKm) EPS (SEK) • Stable underlying 472 earnings 434 407 1.81 development with 1 385 389 1.70 1 1.59 1.54 operating profit up 1.46 1% Y-o-Y • 5% underlying EPS increase – positively affected by share buybacks Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q1
Slide 21: Return on equity
Return on equity • Gradual build-up of excess capital Reported return on equity - Quarter1 Adjusted return on equity - Quarter1,3 affecting reported +0.9 RoE 17.8% 18.7% +1.0 +1.4 +1.9 15.4% 16.4% +1.9 • Excess capital 2 14.0% 2 15.4% 14.9% 13.1% 13.0% 13.7% 14.0% increasing despite 12.1% SEK 1bn sh
Slide 22: Strong capital position with intention of new share buyback program
Strong capital position with intention of new share buyback program • Total capital ratio of 18.4% as of Q1 2026 Capital adequacy ratios and requirements 18.4% 18.4% • Total buybacks of 17.2% SEK 1bn during 16.5% 16.5% 2025 13.2% • Capital buffers 10.9% exceeding financial 16.1% 15.6% 15.6% target o
Slide 23: 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 1,312 1,277 1 Share buybacks of SEK 1bn during 2025 1,149 EGM held in February - cancelation of the shares already 2held in Treasury – flexibility for potential future buybacks 604 522 3 Ne
Slide 24: Acquisition of Consensus Asset Management completed
Acquisition of Consensus Asset Management completed – new business area within Wealth Management Why Wealth Management? • Growth and diversification of Norion Bank Group • Wealth management which supports profitability over time • Broader revenue base and strengthening of long-term profitability • L
Slide 25: Strategic acquisition of Strand Kapitalförvaltning
Strategic acquisition of Strand Kapitalförvaltning About Strand Kapitalförvaltning • Discretionary portfolio management and own funds with ~6bn AUM • Including five-star Morningstar-rated fixed income fund • Based in Stockholm – 12 employees and around 310 discretionary clients • Over 20 years of op
Slide 26: New business within Wealth Management
New business within Wealth Management Consensus Asset Management Strand Kapitalförvaltning Norion Bank combined offer • ~15bn AUM • Aligned client base with demand for both wealth management & financing • Broadening of the Wealth • ~ 9bn AUM • ~6bn AUM Management offer • Strong regional presence • S
Slide 27: Summary and outlook
Summary and outlook Macroeconomic Strong balance sheet Announced acquisition environment and rate EPS increase and prudent of Strand outlook provisioning Kapitalförvaltning Launch of SEK 500m Continued monitoring Completed acquisition Selective approach share buyback of credit quality of Consensus A
Slide 28: Norion Bank Group
Norion Bank Group