Kreditbanken (KRE) Q2 2025 earnings summary

Executive summary

• Pre-tax profit for H1 2025 reached DKK 109.4 million, up from DKK 100.6 million in H1 2024, driven by positive bond revaluations, sector equity returns, and loan impairment reversals.

• Full-year pre-tax profit guidance for 2025 raised to DKK 160–185 million from DKK 125–150 million.

• Bank expects lower earnings in H2 2025 due to narrowing interest margins, lower surplus liquidity returns, and higher loan impairments.

Financial highlights

• Net interest and fee income rose to DKK 177.4 million in H1 2025 from DKK 166.5 million in H1 2024.

• Personnel and administration expenses increased by DKK 5.6 million to DKK 79.8 million.

• Loan impairment reversals contributed DKK 6.6 million as income, compared to DKK 0.4 million in H1 2024.

• Deposits (excl. pool deposits) grew 12.1% year-over-year to DKK 4,995 million; loans rose 11.3% to DKK 2,836 million.

• Equity stood at DKK 1,136 million as of June 30, 2025.

Outlook and guidance

• Full-year 2025 pre-tax profit expected at DKK 160–185 million, reflecting two scenarios due to economic uncertainty.

• H2 2025 earnings anticipated to decline versus H1, mainly from margin compression and higher impairments.