Enity (ENITY) investor relations material

Executive summary

• Delivered strong Q2 2026 results with net interest income up 16% quarter-on-quarter and 10% year-over-year, and net interest margin rebounding to 4.2%.

• Adjusted return on tangible equity reached 28.5% for the quarter and 21% on a rolling 12-month basis, highlighting robust profitability.

• Credit quality remained high, with a credit loss ratio of 0.27% and positive migrations in risk stages; Stage 2 loans decreased by over 20% from Q1.

• Successfully issued SEK 850 million and NOK 400 million in senior unsecured bonds, further strengthening funding and liquidity.

• The acquisition and full consolidation of Uno Finans and A&Lånsfinans loan brokers were completed, contributing to profit growth.

Financial highlights

• Adjusted operating profit increased 53% quarter-on-quarter to SEK 173 million, and operating profit rose 42% year-over-year to SEK 155 million.

• Net interest margin rebounded to 4.2% in Q2, up from 3.7% in Q1.

• Commission income more than doubled quarter-on-quarter, mainly from loan broker consolidation.

• Lending to the public grew 8% year-over-year (6.2% FX adjusted), with Finland showing the strongest growth at 44%.

• Adjusted cost-income ratio improved to 46%.

Outlook and guidance

• Net interest margin expected to contract towards 4% in coming quarters due to repricing and normalization of favorable timing effects.

• Lending growth anticipated to strengthen in the second half of 2026, especially in Sweden and Finland, with Norway remaining more uncertain.

• Cost base expected to remain stable, with minor seasonal effects in Q3 and slightly higher activity in Q4.

• Loan broker segment expected to see seasonally stronger performance in the second half.

• Credit losses anticipated to remain stable for the rest of the year.