Aasen Sparebank (AASB) investor relations material

Executive summary

• Achieved net profit after tax of NOK 35.3 million for H1 2026, down from 40 million year-over-year, with business capital surpassing NOK 10 billion.

• Strong 12-month loan growth of 11.2%, with business volume reaching NOK 10.1 billion, up from NOK 9.1 billion.

• Stable underlying banking operations, increased commission income, and robust credit quality with low loan losses.

• The period was impacted by NOK 6.4 million in costs related to IT platform conversion, expected to drive future efficiencies.

Financial highlights

• Net profit after tax reached NOK 35.3 million for H1 2026.

• Return on equity was 8.0% for H1 2026, with an adjusted ROE of 9.5% excluding IT system transition costs.

• Cost/income ratio was 52.3% (or 45.1% excluding future IT conversion provisions), up from 45.47% year-over-year.

• Net interest margin declined to 2.00% from 2.25% last year.

• Net positive value change and dividends from securities portfolio totaled NOK 7.2 million, up from NOK 4.9 million.

Outlook and guidance

• Continued focus on capital efficiency, maintaining strong liquidity through diversified funding sources, and regional growth.

• Norges Bank raised the policy rate to 4.25% in May 2026, with expectations of further increases.