Tinde Sparebank (TINDE) investor relations material

Executive summary

• Result after tax for H1 2026 was NOK 39.0 million, down from NOK 43.2 million in H1 2025, mainly due to increased credit losses.

• Return on equity after tax was 3.9%, compared to 6.0% in the same period last year.

• The bank maintains a solid capital and liquidity position, with a diversified loan portfolio and a focus on conservative credit practices.

• The merger between Sunndal Sparebank and Romsdal Sparebank in June 2025 impacts year-over-year comparability.

Financial highlights

• Net interest income increased by NOK 39.1 million to NOK 150.4 million, a 35.2% rise year-over-year.

• Total net income for H1 2026 was NOK 220.2 million, up from NOK 152.2 million in H1 2025.

• Operating expenses rose to NOK 108.3 million, up 40.7% year-over-year, mainly due to the merger.

• Credit losses booked at NOK 66.0 million, up NOK 44.6 million from H1 2025, driven by specific corporate bankruptcies.

• Cost/income ratio improved to 49.2% from 50.6% year-over-year.

Outlook and guidance

• The bank expects lower credit losses in H2 2026 and continued normalization over time.

• Focus remains on realizing post-merger synergies, operational efficiency, and digitalization.

• Targeting a return on equity above 10% by 2030.

• Dividend policy aims for 70-100% payout of equity certificate holders' share of net profit.