Aprila Bank (APRILA) investor relations material

Executive summary

• Pre-tax profit reached NOK 31.1 million in Q2 2026, up 78% year-on-year, with ROE at 31.1% for the quarter and 23.3% over the last 12 months.

• Gross lending grew 35% year-on-year and 7% quarter-on-quarter, reaching NOK 1,700 million.

• Total income rose 18% year-on-year and 8% sequentially to NOK 70.1 million, driven by stable net interest income and predictable revenue mix.

• Profitability expansion was driven by income growth and improved credit quality, supported by technology-driven credit solutions and automation initiatives.

• The bank is progressing with re-domiciliation to Liechtenstein, expecting completion by end of Q2 next year.

Financial highlights

• Pre-tax profit for Q2 2026 was NOK 31.1 million, up from NOK 17.5 million in Q2 2025.

• Total income for Q2 2026 reached NOK 70.1 million, compared to NOK 59.4 million in Q2 2025.

• Loan losses were NOK 5.2 million, impacted by a NOK 7.3 million one-off reduction in loan loss allowances due to PD model recalibration.

• Cost/income ratio (LTM) stood at 54%, with an adjusted figure of 53% for Q2 after accounting for one-off items.

• CET1 ratio stood at 32.0% as of June 30, 2026.

Outlook and guidance

• Double-digit income growth and continued ROE improvement expected, though at a more moderate pace.

• Targeting a total income run-rate of NOK 285–295 million by year-end 2026, with cost/income ratio expected around 52%.

• Lending yield is expected to continue a controlled decline as the portfolio shifts toward larger, lower-risk customers.

• Focus remains on profitable growth, operational scalability, and leveraging AI for competitive advantage.

• Guidance for customer account growth discontinued.