Norway's Sparebanken Norge Q2 profit rises on lending, fee income growth

Sparebanken Norge

11/08/2026 10:16

Overview
Norway savings bank's Q2 pre-tax profit rose, with ROE at 14%
Lending to retail and corporate customers increased during the quarter
Net fee and commission income grew to NOK 521 mln in Q2

Outlook
Company expects strong growth in new market areas in the years ahead
Sparebanken Norge raises Borea Asset Management AUM target to NOK 50 bln by end-2029

Result Drivers
LENDING GROWTH - Lending to retail customers rose 2.1% and to corporate customers 2.3% in Q2, supporting overall growth
OTHER INCOME - Net fee and commission income increased to NOK 521 mln, driven by payments, insurance, asset management, and real estate brokerage
ASSET MANAGEMENT - Borea Asset Management delivered strong results, with assets under management up 18% in the quarter

Company press release: ID:nObih963Ga

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Net Interest Income
 
NOK 2.53 bln
 
Q2 CET1 Capital Ratio
 
18.10%
 
Q2 Net Fee Income
 
NOK 521 mln
 
Q2 Pretax Profit
 
NOK 2.25 bln
 
Q2 ROE
 
14.00%
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy."
Wall Street's median 12-month price target for Sparebanken Norge is NOK202.50, about 4.4% above its August 10 closing price of NOK194.00
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
Aug 10 - Greystone Housing Q2 revenue falls, posts net loss
Aug 10 - Blue Ridge Bankshares posts Q2 loss
Aug 11 - Italian banks' lending to firms rises in June at slower pace

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)