Rogaland Sparebank (ROGS) investor relations material

Executive summary

• Profit after tax for 1H26 was NOK 310.1 million, up from NOK 279.7 million year-over-year, mainly due to higher other operating income and lower loan losses and operating costs, partly offset by lower net interest income and higher tax expense.

• Return on equity (ROE) after tax reached 14.5% in 1H26, compared to 13.7% in 1H25.

• Lending growth over the last 12 months was 7.3%, with retail lending up 8.8% and corporate lending up 3.0% year-over-year.

• Net interest margin declined to 1.69% in 1H26 from 1.94% in 1H25.

• Assets under management, including EBK loans, increased to NOK 45.6 bn from NOK 42.1 bn year-over-year.

Financial highlights

• Net interest income for 1H26 was NOK 373.4 million, down from NOK 392.4 million year-over-year.

• Other income increased in 2Q26, with notable contributions from value change in securities (MNOK 10), dividend from Eika Gruppen (MNOK 57), and profit from sale of Kjell Haver Regnskapsservice AS (MNOK 43/NOK 42.6 million).

• Cost-to-income ratio improved to 35.3% in 1H26 from 39.0% in 1H25.

• Earnings per equity capital certificate rose to 8.2 in 1H26 from 7.4 in 1H25.

• Loan losses and impairments were NOK 13.1 million in 1H26, down from NOK 23.1 million in 1H25.

Outlook and guidance

• Financial targets for 2025-2028 include ROE > 11%, dividend payout ratio of 50-100%, growth > 5%, and CET1 > 16.15%.

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

• Regional macroeconomic outlook remains strong, with diversified growth beyond oil and gas, but increased uncertainty and sectoral differences.

• The bank expects continued pressure on lending margins, especially in the retail segment, due to higher interest rates.

• The bank will prioritize profitable growth, close customer follow-up, and selectivity in new commitments.