Annual Report 2025 of Spar Nord

Financial Performance - The company reported a profit after tax of DKK 1,727 million, resulting in a return on equity of 11.8% and a cost/income ratio of 59 [1] - The profit was impacted by declining interest rates, which led to a reduction in net interest income due to lower returns on excess liquidity [2] - Restructuring provisions totaled DKK 385 million, along with one-off costs related to the acquisition of Spar Nord, resulting in a profit before impairment charges that was DKK 710 million lower than in 2024 [2] Excluding Acquisition Impact - Excluding items related to Nykredit's takeover, the return on equity after tax for Spar Nord in 2025 was 14.7%, with a cost/income ratio of 48, both exceeding the Bank's strategic goals [3] Business Growth - The company experienced strong momentum in 2025, with net customer inflows in prioritized segments and an increase in total business volume of DKK 9 billion (2%) [4] - Bank deposits rose by 9%, while total credits arranged (including mortgage and bank loans) grew by 5% [4] - The year also saw a net reversal of loan impairment charges, indicating strong credit quality among retail and business customers [4]